Marketplace 1/29/2003

* Today: Dow up 21.87 (.27%); NASDAQ up 15.88 (1.18%); S&P 500 up 5.82 (.67%)
* SEC's proposal for new oversight body to help “police” the mutual fund industry gets mixed reviews
* Bush’s tax cut on stock dividends: ”Great, if you have money,” says personal finance expert Jordan Goodman
* Oregon voters reject temp. income tax hike measure: could’ve stalled cuts to schools, social services, police

Features
Music Bridge: Wednesday Night - Dubtribe Sound System
Purchase this music from PRMS.org
State Of The Union Commentary: Short-term Gain
Commentator sees short-term political gain in the Bush's emphasis on his domestic agenda: According to commentator and former Labor Secretary Robert Reich, during last night’s State of the Union address, Bush stressed those aspects polls show are the most popular. But he spent the least amount of time on what’s at the heart of the plan: abolishing the tax on stock dividends. Still, Reich finds it was smart to show how sensitive Bush is about public opinion to domestic agenda…even when all eyes are on the Middle East -- regardless of the short-term political gain.
State Of The Union Commentary: The Long View
Commentator says there's a long-term plot hidden between the lines of Bush’s text: James Glassman, an economist at the American Enterprise Institute and host of TechCentral.com, says Bush’s speech was remarkable for the long view -- not the short view. Like Bush, Glassman doesn’t think the economy is in bad shape -- it’s strong and recovering. Bush believes the economy has hit, as Greenspan said, “a soft spot.” What’s messing things up? The impending war with Iraq. But when we prevail in that effort, as Bush said, the economy will recover dramatically in 2003.
Music Bridge: Longview - Greenday
Purchase this music from PRMS.org
Gold Rush (Again)
Has gold once again become a safe haven from an unstable market?: With a potential war looming on the horizon, markets around the world have got the jitters. Marketplace’s Stephen Beard and The Economist’s David Manasian report on who’s going gold these days to protect their assets.
Music Bridge: Heart of Gold - Neil Young
Purchase this music from PRMS.org
King of the Road
Former Maine governor driving cross- country has thoughts on the State of the Union: We check in with former Maine governor Angus King at the second stop on his cross-country tour. King is spending 5 months driving across the country and back in a 40-foot RV with his wife and two children. And, King has his own observations on the State of the Union, and where you should be investing any money you’ve got to spend.
Links:
# www.wheresmolly.com: King’s Web site with pictures of his journey.
Music Bridge: Movin' Right Along - Fozzie & Kermit (The Muppets)
Purchase this music from PRMS.org
Tomorrow On Marketplace...
The economics of divorce in modern-day China