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Thursday, February 06, 2003
I guess it would depend on what your definition of "effective" is...
Larry Kudlow, the Fisher-Price version of an economist had this to say this morning:
The stock market surged Wednesday as Secretary of State Colin Powell effectively made the case before the UN Security Council that Saddam Hussein and his despotic government are in material breach of Resolution 1441.
Powell laid out charges that there is "irrefutable and undeniable" evidence that Saddam is hiding weapons of mass destruction, moving weapons from place to place to avoid detection by UN inspectors, failing to provide evidence of chemical weapons that were supposedly destroyed and preventing scientists from meeting alone with inspectors. He also supported claims that Iraq is not only harboring terrorists, but teaching Al Qaeda operatives how to make biological and chemical weapons. As he did so, the U.S. stock market rallied significantly. Gold and oil prices fell.
Then Larry apparently took a nap, because this happened:
Stocks rallied in morning trading Wednesday, as investors hoped that Secretary of State Colin Powell’s speech to the United Nation’s Security Council on Iraq’s non-compliance with a U.N. resolution requiring it to disarm would create broad international support for the Bush Administration’s tough stance on Iraq, and in so doing settle the uncertainty hanging over financial markets,.
But investors dumped stocks in afternoon trading as skepticism from other member nations in the U.N. Security Council, such as France and China, indicated the United States may not be able to build an international coalition for its plan to disarm Iraq by force. Iraq has consistently denied it has any banned weapons.
You know, if Larry would lay off the Peruvian Party Powder for just one night, he could make it through the entire workday....
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