Letters to the Editor
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The Illusionary President
strikes again.
This time we will not have 4,000 soldiers and many more thousands of civilians killed, however.
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I seem to recall ...
... that Bush was fond of the Iraqi Minister of Information. Perhaps he has been working on mastery of that style.
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Really, A.L.?
I ask this without rancor or malice: do you really think the 'end times are nigh'? Really? Time for us to stock up on canned food and guns and gold and gather the family and wait to fight off the zombies?
This is a bubble popping. This is what happens. The system survives. The president is not helping AT ALL but that's not the point. Assets are being re-evaluated. Overleveraged players are going under (as they should), speculators and scofflaws are suffering (as they should). Some 'innocents' are suffering too. This will pass.
We've had bubbles before. We've had credit crunches before. Interestingly, we've never had so much available capital globally to deal with it. It will be dealt with.
Sheesh.
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You missed a talking point Andy
It's the one about "The underpinnings of our economy are solid". I have heard both our Glorious leader and Glorious leader in-training mouth those words, So it must be true.
footsore
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Thank God
For President George W. Hoover!!
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oh yeah -- he's "on top of it" much as Slim Pickin's was "on top of it" at the end of Dr. Strangelove ... going down ...
Last week many commented on Bush's almost goofy "optimism" ... I think we know now what he knew then ...
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who's he talking to?
I'm curious. Who is GW talking to? The great unwashed in the street? The Teeming Millions (as Cecil Adams puts it)?
that must be it. He can't actually be talking to anyone who has been paying attention.
It seems pretty clear now that the last seven years have seen the worst President in American history, by any measure.
I'm really glad he hasn't had something like the Cuban Missle Crisis to deal with. Or else .. never mind. Let's hope that in the next 9 months nothing really serious comes up.
As another poster noted, this is simply a bubble popping. Problem is, it's a very big bubble, and will likely leave a lot of rubble behind. Including a--likely--reduced standard of living for most Americans for a long time to come.
Between the crash of housing values, and the crash of many investment funds, a lot of boomers who are looking at retirement in the next few years are looking at a pretty heavy situation. A situation that could have been entirely avoided after 9/11 by more rational monetary policy, and normal standards for housing loans. That's it. Those two perfectly responsible things could have prevented this entire mess.
Alpha males in investment banking need to be controlled for their own, and everyone else's, good. In this instance, they weren't, and the results are easy to see.
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Is it really that innaccurate?
Ok, the bit about strong financial institutions is a load of bull, but it's not the dumbest thing monkey boy's ever said, because the second half actually seems to be in line with reality.
our capital markets are functioning efficiently and effectively.
Seems pretty accurate to me. Financial markets are functioning more effectively now than they were a year ago, because they're actually trying to accurately assign prices to assets. A year ago, they were happy to pretend that junk loans were worth a lot of money.
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What do you expect?
All I can figure is that Our Illustrious Leader doesn't even understand what's happening on Wall Street and in the economy.
Remember, this guy is a trust fund baby who ran every business he was given straight into the ground before he became president. Daddy's friends bailed him out again and again and again. Texas worked out because Governor of Texas is largely a ceremonial position, except for a few things like clemency for death row prisoners (and we all know how GWB worked out for them.) Why anyone thought that he would fare any differently with the U.S. Government is beyond me.
Now we have to see if wiser heads can somehow bail us all out of this mess. We elected him (although I myself didn't vote for him) and now we're stuck with him until January.
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@ had enough
I agree...typically bubbles have to pop for regulation to be put in place AFTER THE FACT, which should have been there before. But it's how the system learns. Just like after 9-11 we got air safety regs we should have had before. Or after the tech stock bubble popped they put in Sarbanes Oxley, etc.
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Well, at least people aren't buying it
http://www.cnn.com/2008/POLITICS/03/17/poll.national/index.html
Nearly three-quarters of all Americans think the economy is in a recession, according to a national poll released Monday.
Seventy-four percent of those questioned in a CNN/Opinion Research Corp. survey say the economy has entered a recession.
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Good news for Dana Perino
Next to her boss, she actually looks smart ...
OMG
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Bubbles
Yes, they put in regulations after the fact, and then the money goes elsewhere, then they chase that money and then they put in regulations, then the money goes elsewhere, then they ...
And sometimes, like Glass-Steegal, they remove perfectly good regulations because the money wants it so, then investment 'banks' collapse, and then ... maybe they have to put the regulations back in place that they'd removed.
Do you see the pattern?
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G.W. Bush actually envies us bankrupt victims...
If he were a younger man, I bet he himself would be tempted to join in the romantic adventure of our growing recession.
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Allow me to help with the sarcasm
"You've reaffirmed the fact that our financial institutions are strong," but odor isn't everything.
"and that our capital markets are functioning efficiently and effectively," because they are pricing the fact that we are going to hell in a handbasket.
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And I quote Adam Savage
"I reject your reality and substitute my own."
After 6 years of looking for a job in my field from the last bubble, I'm just gonna be selfish this time and hope I'm in an industry that will ride it out a little better than the last one.
And just think it's only 308 more days until he's out of there anyway.
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I'm unclear
At point in the past was your esteemed president not talking out of his ass?
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yes, just more trademark Bush bravado ....
I amuse myself trying to imagine the audiences for his big-bucks, post-presidential speaking engagements, his expertise being what-exactly? ... and how much arm twisting will be applied to his "pioneers" to fill those halls ... and Dick Cheney gloating because HIS lecture halls are jam packed ... and he doesn't even need the money ..