Bush cancels trip to Florida and Alabama because of financial crisis
> from Reuters.com
Just to quote the Reuters article…
“Bush is remaining in Washington to continue working with his economic advisers on the serious challenges confronting the U.S. financial markets, White House spokesman Tony Fratto told reporters in a conference call.”
Wow….. they have a crisis – ALL OF A SUDDEN….. totally out of the blue….. no warning signs…… Mr.Bush woke up this morning and…??? A Crisis…??
We have a little dutch saying; Demp de put als het kalf verdronken is…
Translation; Subdue the well after the calf has drowned
Says Nuff…??
It would be funny if the situation wasn’t that bad. I guess Bush watches CNBC and CNN too… Everybody who followed what went on in the financial markets the last couple of years should have known that something was going to happen at some point, sooner or later. And if you didn’t, a basic understanding of the US financial system (say, how fiat currencies really work, just to name one topic) should have led to the same conclusion.
Bush should have taken a subscription on the LEAP 2020 bulletin, then he would have read: “Global systemic crisis / September 2008 – Phase of collapse of US real economy. The end of the third quarter of 2008 will be marked by a new tipping point in the unfolding of the global systemic crisis. In the United States, this new tipping point will translate into a collapse…”
Note this was published already in February!!!
(see here: http://www.leap2020.eu/GEAB-N-22-Contents_a1299.html)
Oh, I almost forgot about his Republican buddy, John McCain. First he said he believed the fundamentals of the US economy were “strong”. The reality this week forced him to return from fantasyland, within 36 hours he changed his tune, he then described the economic situation as a “total crisis”.
He tried to save his face by saying the fundamentals of the US economy were the workers of the US. This shows a poor understanding of the US economy as well. The true fundamental of the US economy was debt inducing consumption for the last decades. In that time the role of the US worker declined drastically. The output of the US industry is only half of what it was during the 1960s and the US totally depends on foreign countries for its energy, goods and services, and loans to maintain the American way of life.
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