Record wealth is now being created among a hundred million-plus investors in the United States, including union and public employee pension fund holders who are 60 percent invested in the Bernanke bull market. This, even though they rail against stock market wealth and business in general, and still don't get it that their retirement wealth bread is being buttered by the fabulous expansion of the portfolio value of the ownership society.

Stocks are the best barometer of future business and economic health. They are signaling that the wealth of the nation currently and prospectively looks excellent.

Democrats rule the roost on Capitol Hill, but Bernanke stuck to his free market principles. He is targeting inflation and employment, and so far doing a good job with both.

Does anybody remember that President George W. Bush appointed Bernanke? And that Bush's record-low tax rates on capital have promoted strong economic growth? And that this tax-driven growth and investment surge brings inflation down by absorbing the excess money created by Alan Greenspan between 2003 and 2005? The availability of more goods and services makes the existing money supply less inflationary.

In his brief tenure, Bernanke has mopped up this excess liquidity and reduced inflation expectations. Meanwhile, low tax rates are counter-inflationary. So, a combination of strong economic growth and newfound monetary control are working together for the betterment of investors, workers, businesses and federal finances. The supply-side model is very much in place right now.

Demand-side Wall Street bears fail to understand this, but Bush and his Fed appointee, Ben Bernanke, have pulled a fast one. They have restored the Ronald Reagan approach to non-inflationary growth economics: tight money and low tax rates.

The recessionists are wrong. The bears are wrong. The pessimists are wrong. The doom-and-gloom crowd is wrong.

We are witnessing the Bush/Bernanke boom. It is still the greatest story never told.