Thursday, February 05, 2004

THE DEMS WILL HAVE TROUBLE SPINNING THIS ONE

I was shocked when I heard the exit polls from the Democratic primaries said the voters #1 issue was "the economy".

I felt like I was a visitor from another planet. The economy? And then I heard the talking heads saying they were concerned about how bad things were. And then I realized -- the states where the primaries were being held aren't necessarily economic juggernauts and (assuming you're a "traditional" Democrat), you probably do have a few union members in your family that aren't doing as well.

But the name of the game is the country is doing quite well, thank you. Well enough that one of my concerns is that another quarter of solid growth will incent Greenspan to click rates up before summer -- the degree to which they get bumped will be reflective of the growth in money supply. In other words, we're doing so well, inflation might actually start to creep up.

Nonetheless, the good news keeps coming in, the most recent being this article that shows new jobs are being created at all levels in the economy. I don't get overly exercised when I hear that Kodak is laying off thousands. Bad news if you live in Rochester, but the good news is you're more likely to find a job in small business or become self-employed than ever before.

I still say that if the Dems try the "it's the economy, stupid", James Carville cliche, they'll get killed.


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