Bush Reaches Economic Dead End

from AlterNet's PEEK:



Bush Reaches Economic Dead End

Posted by Barry Lando, AlterNet at 4:59 AM on January 23, 2008.

The prestige of an American President, his ability to reassure jittery investors around the world, has never been lower.



Last Friday, President George Bush called for a $150 billion dollar stimulus package to “jump start” America’s flagging economy. The problem, he assured his viewers, was temporary.

“I'm optimistic about our economic future,” said the President, “because Americans have shown time and again that they are the most industrious, creative, and enterprising people in the world. That is what has made our economy strong. That is what will make it stronger in the challenging times ahead.”

What was the reaction of the U.S. and the rest of the world to those rousing words from the head of the world’s most powerful nation?

Stock markets tanked across the globe. Tuesday’s historic rate cut by the Federal Reserve has temporarily staunched the bloodletting, but no one believes the crisis is over.

Right now, in Europe we are waiting to learn if markets will plunge even further.

This is not to pin the melt-down on Bush alone. (More on that later.) But the fact is that the prestige of an American President, his ability to reassure jittery investors around the world—never mind his own country--has never been lower.

From the start, Bush’s vacuous promises and pigheaded policies—at home and abroad—have turned out to be miserable failures, bringing only disaster in their wake. .....(more)

The complete piece is at: http://www.alternet.org/blogs/peek/74651/

is truthful. Yahoo's main news story today is about the nearly 1000 lies Bush told leading up to the Iraq War. (Which I had figured out in early 2003--why others were brainwashed, I'll never know).

of that office. What a sick SOB.

this comment makes me do this:

:puke:

“I'm optimistic about our economic future,” said the President, “because Americans have shown time and again that they are the most industrious, creative, and enterprising people in the world. That is what has made our economy strong. That is what will make it stronger in the challenging times ahead.”


what a sick sick man we have, he is very dangerous. Not only is he affecting our country now he wants to take down everyone.

I think he hoped this housing sub-prime issue would come home to roost after he left office and a Dem would take the blame. He is probably pissed that all of these people who were suckers for these loans would be able to hang on until he was out of office. How many times over the past several years have we heard him brag about how many people could now afford to buy homes because of him and his tax breaks for the rich??? I knew this would happen. I am glad it is happening now if it needed to happen at all.