If it held true over the range of stocks, a 26% drop in valuation since January 20, 2001, is significant. Losing the gains of a number of years in 20 months ain't good.

And no indicators are good. It's not looking up. And foreign investment, which propped us up during previous downturns, is drying up. China is attracting more money now than the US.

But, what's really intriguing about it is a certain GWB and GHWB parallel. As I recall, GHWB ignored the domestic situation while focussing on foreign policy, mainly in the Middle East.

And, as an incumbent President he was beaten by a guy who really was the "bozo" GHWB called him.

I can't help but think that people are really, really interested in the domestic economy. They may support the President during times of crisis, which doesn't necessarily mean they like him but that they support their country. They may well be content to leave foreign affairs in his hands, since they can't do anything about it anyway.

It will be interesting to see if they vote for Democratic Congressmen and Congresswomen as a way of showing their concern over domestic matters.

And the cost of a war could well be the straw that drove the economy really, really into the tank for the 2004 elections. And as a way of balancing his extreme right-wing administration.

I dunno. There's a certain logic in that, and there's a certain logic in about 12,875 other scenarios, too. I could not imagine Ronald Reagan would be elected, and that was fair. Twice. Man, that fooled me.

Arf