As it is Thanksgiving time, and I find myself ever more of both a political professional and political amateur hobbyist (if that is a word), I have been thinking about the American prosperity that we all have to be grateful for.

In the past 6 weeks the Dow has dropped almost 10%, to its current 12,773. So, all the news will be of doom and gloom, and a lousy retail Christmas, etc. etc.

But with all the economic and market news and talk and headlines we always hear, it really is noteworthy that we are still living on the Reagan boom, a quarter century and going.

Consider this: In 1980, the year that Reagan was elected, the Dow Jones Industrial Average was at 759. It had been 995 in 1966. So, in other words, those who had saved and invested money in the mid 60s saw themselves with 24% less money (in nominal terms) a decade and a half later, not even accounting for massive inflation.

6 weeeks ago the Dow hit an all time high of 14,164. Every dollar invested in 1980 was now worth almost $18.

So keep the news of the current small dip in perspective this weekend.