July 2007: The investors loved President Bush!

A post from July 2007:

Yesterday, the stock market hit 14,000! It is a new record high! Obviously, someone likes what President Bush is doing:

"In just the past year alone, the Dow has gained a remarkable 30 percent. Meanwhile, Europe and Asia are up about 30 percent, Japan 23 percent, and emerging markets more than 60 percent. Clearly, the world is voting -- with real money -- for the American system of free-market capitalism. And it's my strong suspicion that the majority of the global investing community supports the Iraq War and a steadfast U.S. commitment to stop terrorism. They seem to know that if the United States doesn't do it, no one else will." (A Stock Market Vote of Confidence for BushBy Lawrence Kudlow)

So cheer up. The economy is doing well.

PS: You can listen to my show (Canto Talk) and follow me on Twitter.