Dow Jones passes 13,000; AP presents it as bad news. Gotta love this! The Dow Jones industrial average reached new record highs today, surpassing 13,000 for the first time ever. At one point during the day, it went just above 13,100. Great news for our ever-booming economy, right? Of course, the Associated Press says it's not good. Here is a sample of the AP's ability to spin an economic milestone as a bad thing:

It looks like a cause for celebration: The Dow Jones industrial average surged from 12,000 to 13,000 in just six months. But appearances can be deceiving, and there may be more reason to worry rather than rejoice about Wall Street's latest accomplishment.

Stronger-than-expected profits from several large companies helped push the stock market to historic heights. But many big corporations, including the Dow components, made a chunk of that money overseas, where economies are growing faster than in the U.S. And many of the same worries that weighed on investors earlier in the year remain: rising energy costs, a slumping housing market and a possible credit crunch.

Riiiight. Here's the real reason the AP is not happy about this: there is no Democrat in the White House to take credit for it. This also raises the bar for the Dow to reach a new record high the next time a Democrat is in the White House.

This type of reporting makes me feel even better when there is good economic news. A liberal's pain is my pleasure.