finally, if you thought american debt was worthless, think again. i ll explain. but first, here s my take. the american economy seems to have picked up. the dow jones industrial average is hovering around 13,000, the highest since the financial crisis began in may 2008. the nasdaq is actually at its highest level since the technology bubble burst more than a decade ago. now, stock prices around everything, but data from the economy on the ground is also slowly getting better. jobless claims are down. housing starts are up. things do seem to be getting better, slowly, as i said, but surely. this is all good news for president obama because there is a very strong correlation between economic growth and a president s prospects for re-election. the unemployment numbers are still pretty high, but they are also falling. also, many models suggest that unemployment is not the crucial statistic to determine whether a president will win re-election. most people, after all, are employ
finally, if you thought american debt was worthless, think again. i ll explain. first, here is my take. the american economy seems to have picked up. the dow jones industrial average is hovering around 13,000. the highest since the financial crisis began in may 2008. things do seem to be getting better. this is good news for president obama because there s a strong co-correlation between economic growth and a president s prospects for re-election. the unemployment numbers are still pretty high, but they are also falling. also, many models issing that unemployment is not the crucial statistic to determine whether a president will win re-election. most people after all are employed. it is the rise in per capita gdp. the average person s income rise that determines whether they feel things are getting better and, thus, whether they will vote for the incumbent or seek a change. so does that mean that the economy and the president are in good shape? well, they re in better shape t
impact nationwide on an all fragile recovery. a default and the ripple effect i think would be impactful and representing our consumers, we think that that would be very, very difficult for the american economy to withstand at this point in time in our history. that s here at home. then there are global worries. concerns that a default or even a close call here could rattle international markets and international economies like that domino effect back after the big wall street meltdown a few years ago. the united states is the largest economy in the world, one that matters, one that has spillover effects, not just around the borders, but on a complete basis, globally. so, the stakes, they re obvious. the path to the solution, however, not nearly as clear. is it today, is it tomorrow, is it friday? magic things can happen here in congress in a very short period of time under the right circumstances. now, by right circumstances we assume leader reid means conver