More than interesting. It is important regardless of the date. The writer points out that valuations should trade historically at 13 times earnings. This number seems slightly low to me but it is not far off the mark. It might be wise to avoid the equity markets a bit longer.
This administration had better do something and do it quick. For starters it either needs to attack Iraq or concede to whatever inspections the UN agrees to (though the latter makes me sick). Either will have a good effect on the markets and possibly give Bush a second term at some point. Remember; most voters in the US are not as informed as we who read FreeRepublic (look at the popular vote for Gore if you want proof). They are not going to care that it's a result of the Clinton administration and the Rats will use it as an election platform. If this happens and someone like Gore winds up in office, this country is sunk. Sans market, sans economy, sans end.