Tuesday, May 30, 2006

Is there any better sell signal than "The economy is fundamentally sound?"

Evidently John Snow was pushed out because he wasn't saying the economy was doing well very often.

And the "official story" was that he, er, uh...did a good job?

By many metrics, Snow's three-year term at Treasury should be rated a success.
Since he joined Treasury in February 2003, the economy has been on steady footing, averaging about a 3.7% growth rate in gross domestic product over that time.
In addition, Snow never faced a dramatic standoff with currency markets, with the dollar remaining fairly constant after a sharp run up in the Clinton years and a decline in the first two years of the Bush administration.

Check the Euro lately, dudes?

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