The Dow set a new record high yesterday, closing at 14,253. The Dow is up nearly 7,800 points or about 120%, since it hit bottom at about 6,500 on March 9, 2009, after a terrifying plunge throughout 2008 from its previous high set in 2007. In March 2009, the Dow judged a depression had been avoided.
President Obama, Ben Bernanke (a Republican and President Bush appointee), Secretary Geitherner and legislative leaders who rounded up tough votes for the automobile intervention and stimulus bill stopped the crash and have allowed the stock market to boom.
In fact, the stock market, the heart of capitalism, loves President Obama. That's what the numbers show. But as the stock market set its all-time record, Senator Grassley was slamming the President for socialism.
Of course, Senator Grassley is a fierce proponent of government policies supporting corn ethanol and federal farm policies that include crop insurance, disaster payments, and crop subsidies.
If President Obama is a socialist, so is just about every member of Congress. And for the last 4 years the stock market has delivered its market judgment on President Obama and Ben Bernanke.
For all kinds of reasons, the President's critics should retire the foolish charge that he is a socialist.