If you had pulled money from the stock market and put it into a European savings account on the day that George Bush was sworn in, you would have twice as much money as someone who left it in place.
As the Republicans talk up the economy, it might be worth looking at some hard data.
About 10 years ago, roughly 80% of Americans were in a pension plan. Stock market performance was of some interest. Today, nearly 80% of Americans are in 401(k) plans that directly depend on stock market performance.
Imagine two people who had $500,000 invested in the S&P 500 on January 20, 2000, when George took office.
Denny the Democrat, fearing George's policy and not knowing what else to do, sold all his stock at the opening bell and bought euros, putting all his money in a decent but conservative 3% a year savings account.
Reggie the Republican, delighted that his man was now at the helm, left his money in the S&P 500, trusting in the American economy and dollar.
Reggie lost 15% of his money, leaving him with just $424,765.
Denny made more than 69%, leaving him with $850,410, exactly twice as much as Reggie.
Reggie will have lost more than $75,000, while Denny will have made more than $350,000. Funny thing - no one has bothered to mention this at the convention. In fact, if you listen closely to McCain and his fellow speakers at the RNC, you would think that were NOT the incumbent party.
It's not just rising gas and grocery prices that have wearied folks. It is not just stagnant wages. It is no surprise that only 10% of Americans feel good about the economy. It is a surprise that the Republicans are able to gather a crowd in Minneapolis.