Parties and markets and bears, oh my

The Dow Jones closed yesterday above 13,000 for the first time in nearly four years. This isn't exactly an economic breakthrough -- the Dow is just one index, and there's nothing magical about the 13k plateau -- but it offers something of a morale boost.

It doesn't, however, help conservative arguments that the Obama administration's agenda would ruin the markets, terrify investors, and send the major indexes spiraling downward. In fact, much to Republicans' chagrin, Bloomberg News reported recently that the stock market invariably performs better under Democratic administrations.

This was published a week ago, and the market has gone up since.

To help drive the point home, Business Week's Josh Green highlighted this chart the other day:

In 2004, a Bush cabinet official said job creation and GDP numbers don't really matter because "the stock market is ... the final arbiter" of economic success.

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For Subscribers

FOR SUBSCRIBERSAmerican passenger drafted goodbye texts to her family as Flydubai plane plummeted

FOR SUBSCRIBERSCornell rape allegation pushes embattled New York prosecutor into national spotlight

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

FOR SUBSCRIBERSCornell rape allegation spotlights stringent New York state laws that have long drawn criticism

If that's still true, Republicans appear to have some explaining to do.