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View Diary: Open thread for night owls: A sweet deal for banksters—Too big to jail. (181 comments)

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  •  James Glassman Mr 36K DJIA is back (10+ / 0-)

    Financial Pundit Who Predicted Economic Spike Under Bush Is Back To Dispensing Advice

    In 1999, James Glassman and economist Kevin Hassett, who eventually both worked for President George W. Bush, famously wrote a book predicting that the Dow Jones Industrial Average would go to 36,000 within three to five years. Of course, instead of the Dow going on the rocket ride they predicted, the financial crisis sent it spiraling into oblivion, bottoming out at 6,547 in March of 2009.

    But with the Dow having climbed to its record high this week, Glassman is back, writing in Bloomberg View today that “Dow 36,000″ is achievable “quickly,” as long as a slew of conservative policy ideas are embraced:


    To get it, we need policy changes that will create a better environment for businesses to increase revenue, profits and jobs: a rational tax system that keeps rates low and eliminates special deductions and credits;…entitlement reform to bring down costs and provide incentives for productive seniors to keep working; sensible environmental, workplace and financial regulation that allows entrepreneurship to thrive; a K-12 education system that boosts student achievement and holds teachers, administrators and politicians accountable …

        Chime in and make your own list, because it’s time to focus on what counts in an economy: growth. Even with relatively high risk aversion (let’s say, what we have now), faster growth would significantly increase stock prices.

        How fast can the U.S. grow? Four percent is attainable, but I’d settle for 3 percent. Get there quickly, and we’ll get to Dow 36,000 quickly, too.

    I want 1 less Tiny Coffin, Why Don't You? Support The President's Gun Violence Plan.

    by JML9999 on Thu Mar 07, 2013 at 08:42:16 PM PST

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