The W boom


Well known investor, trader and investment commentator James Cramer is a Democrat. On the subscription—only Wall Street Journal site, he discusses the "W boom" and its impact on candidate Kerry. Brief excerpts:

Imagine the difficulty John Kerry faces in explaining what's wrong with the economy. He wants to talk about President Bush's reckless deficit spending, but how reckless can that spending be if the market's willing to lend the government money at a measly 4%, lower than when President Clinton turned deficits to surplus? He wants to portray the economy as weak and getting weaker, but how weak is an economy that finds Federal Express, Yellow Roadway and United Parcel all on the 52—week—high list?

These companies ship to meet demand, not to build inventories.

The irony isn't that Sen. Kerry can't make more hay out of this array of strength, it's that President Bush doesn't take more credit for what's going right.

Hat tip: Mike Nadler

Thomas Lifson   9 22 04