Bush-League Economics
George Bush had an answer, at a closed-door Republican fundraiser, for why our economy's in the shitter. Via Jack Cafferty on CNN, Bush's response:
"Wall Street got drunk - it's one of the reasons I asked you to turn off your TV cameras. It got drunk and now it's got a hangover. The question is: how long will it sober up."
Yeah, and he brought the booze.
VIC CARS at July 24, 2008 4:04 AM
No he didn't. I no Bush apologist, but whatever problems the economy is experiencing, it's a cop-out to place this turd-bag solely at his feet. If anything, I partially blame congress for forcing lenders to extend loans to the "underpriviledged" (a.k.a. bad risk) applicants. The rest of it lies with suck-wad, jackass financial officers who approved risky loans, knowing full-well Uncle Sam would bail their asses out when the house of cards came down.
And despite NPR's insistance that we're headed for a major depression on a par with the 1929 depression, we have yet to see a single quarter of negative growth, a basic criterion for a recession.
Snoop Diggity-DANG-Dawg at July 24, 2008 4:27 AM
Something needs to burn.
Right now, the US is saving banks and home buyers again and again. It just make the problem go around, not away. Someone will have to take the tar baby sooner or later.
Toubrouk at July 24, 2008 5:27 AM
Well, I didn't get invited to the damn party, I'm NOT hung over, and being hung over is no damned excuse for ANYthing. Buncha whiny cry-babies. o_O
Flynne at July 24, 2008 6:47 AM
Open up drilling and this country will need to import a million workers. Their will be an employment boon the likes of which was last seen after the discovery of the great East Texas field.
Rusty Wilson at July 24, 2008 9:49 AM
The difficulties we are in are the unintended consequences of previous government "fixes" of the market to save certain sectors. Toubrouk is right, it always winds up making things worse.
mbruce at July 24, 2008 12:40 PM
The reason is simple: high energy prices kills productivity.
The economy (global) runs on cheap oil. Simple as that.
whiskey at July 24, 2008 1:05 PM
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