George W Bush, who used to blow up frogs as a child, has taken a giant step towards not only destroying America with his economic policies but the world has now been so infected with his politics of greed that we may now be facing a global recession : Allen L Roland
Despite a brief short covering sellers rally in the market a few days ago ~ the stock market is selling off substantially today and nothing has fundamentally changed concerning America’s underlying economic problems.
America is still deeply in debt and the latest bailout schemes will increase our debt by two or three more times.
A record 91 percent of Americans are “dissatisfied with the way things are going in the United States,” according to a new USA Today/Gallup poll. Another 84 percent of those polled “predict the economy is going to get worse.”
Prof. Nouriel Roubini, an economics professor at New York University, and increasingly well-known as the economic “seer who saw it coming” , foresees 2-year recession and calls for debt relief to households. http://www.ufppc.org/content/view/7976/
Here are the basic facts ~ We have no real manufacturing base, we are not saving anything, we have not fixed the huge derivatives nightmare, and we have not learned from our excesses and gone back to a sound and properly regulated economic and financial policy.There will be other meltdowns soon and probably right after the elections ~ because the market fundamentals are not improving as central banks flood new money into the system to give the appearance of financial stability. It was Henry Kissinger who wrote ~ ” It’s not a matter of what is true that counts but a matter of what is perceived to be true.”
As such, every device will be ultilized by the Cheney/Bush administration to give the appearance of financial stability, including the use of the infamous Paulson Plunge Protection team, to give the perception of stability going into November’s election. http://blogs.salon.com/0002255/2007/03/08.html
But here is the obvious truth ~
the Cheney/Bush/McCain administration has been a crime syndicate and their greed is a rapidly spreading cancer which has infected the entire global financial sector. It’s Rivero’s rule in action ~ all organizations and countries will eventually reflect the moral integrity andcharacter of its leaders. As such, we have done the world a disservice with our economic policies which hopefully will be eventually rectified by President Obama. – salon.com