Hopes dashed to the ground

[jeskibuff]

Boy, am I finding goodies galore on DemocraticUnderground.
In this thread: http://www.democraticunderground.com...opic_id=986336

the original poster thinks he found a gem of an article that "explains everything" about the disastrous Bush economy.
The article, written by Peter Eavis is found at http://www.thestreet.com/markets/detox/10134346.html. Eavis says dismal things like The crackup won't start happening until the end of 2004 -- after George Bush, the market's favorite for president, has been safely re-elected -- but the coming deluge will usher in a period of global economic malaise and dire losses in financial markets.

This is JUST what the doctor ordered for original poster Yavin4. He says: "This column explains everything in a nutshell about our current economy and where it's heading. This explains everything from A to Z. It's a must read for anyone that wants to know the truth about where this economy really is and where it's heading:" and "If you get into an economic argument with a freeper refer them to this source."

I bet this guy was relieved to find something written that predicted the bad news for the economy that he wanted to hear. But some other DUh'ers gave him a little reality check.
"The guy (Eavis) has a lousy track record."
"Last year he said Dow down 15% Nasdaq down 30%. He was only off by a tiny bit. (Yeah right)."
"He was simply wrong."
"He was wrong (in virtually every respect) on his predictions for Iraq (and keep in mind that this year's predictions are similar predicated on non-economic events)."
"NOW, virtually every number looks good and there is no question what is going on, but many here insist that it is all lies."
"Pay no attention to anyone who starts off this year's predictions by trying to explain why last year's predictions were so far off."
"But to forcast record collapses (a FOURTH straight significant market decline) and get large growth? And have it explained by "well interest rates were at 2% instead of 4%" loses credibility with me."
"he completely glossed over the role that . . .the changes in capital gains and dividend taxation have played in the rise of the stock market. If you are in the lowest tax bracket, your capital gains tax rate is 5% -- FIVE PERCENT! That itself is incredible. . . Most states have sales taxes that are higher than that."

Alas...time for poor Yavin4 to keep digging until he finds some tidbit that says what he's hoping it will say...that the Bush economy is a grand failure and all the improving indicators that we're seeing now are just magic tricks, courtesy of David Blaine and David Copperfield.

Keep digging, Yavin4! Try picking an article next time where the author doesn't provide such an easy link to his last set of miserable predictions!