Update: Does the stock market indicate anything relating to the Global War on Terror?
It has been widely reported that President Bush simply refuses to turn against the surge in Iraq, or even compromise on it. At the same time, he admonishes Congress to toss out troop-withdrawal timetables and to give Gen. Petraeus' new counterinsurgency plan time to work. And you know what? While the Democrats stand against nearly all of the president's wartime policies -- and in the process court defeat -- the stock market is standing with Bush, and the chance for victory.
Early last week, when the Democratic leadership of Harry Reid and Nancy Pelosi launched their latest antiwar offensive, stocks dropped about 150 points. Then, in a press conference a few days later, after Bush discussed clear successes in Iraq's Anbar province, the Dow Jones soared nearly 300 points, marching ever closer to the 14,000-point plateau.
I'm not saying there's any correlation, Larry Kudlow is.
Update #2, 7/22/07: More thoughts on keeping your mouth shut.
Update #3, 7/25/07: Apparently, those same people who need to be muzzled by the so-called Fairness Doctrine have "encouraged" the Congress to rethink the John Doe Amendment. It's may be safe to report suspicious activity again.