Reagan Asst Sec ot Treasury: Will the US Need an IMF Bail Out?

[Karmadillo]

Given that Bush has failed at everything he's ever tried, the destruction of our economy isn't much of a surprise. What I don't get is why ruling elites are allowing it to happen.

http://www.counterpunch.com/roberts01102006.html

President George W. Bush has destroyed America's economy along with America's reputation as a truthful, compassionate, peace-loving nation that values civil liberties and human rights.

Nobel prize-winning economist Joseph Stiglitz and Harvard University budget expert Linda Bilmes have calculated the cost to Americans of Bush's Iraq war to be between one and two trillion dollars. This figure is 5 to 10 times higher than the $200 billion that Bush's economic adviser, Larry Lindsey, estimated. Lindsey was fired by Bush, because Lindsey's estimate was three times higher than the $70 billion figure that the Bush administration used to mislead Congress and the American voters about the burden of the war. You can't work in the Bush administration unless you are willing to lie for dub-ya.

<edit>

America's so-called first world superpower economy was only able to create in December a measly 12,000 jobs in goods producing industries, of which 77% are accounted for by wood products and fabricated metal products--the furniture and roofing metal of the housing boom that has now come to an end. US employment declined in machinery, electronic instruments, and motor vehicles and parts.

2,600 jobs were created in computer systems design and related services, depressing news for the several hundred thousand unemployed American computer and software engineers.

When manufacturing leaves a country, engineering, R&D, and innovation rapidly follow. Now that outsourcing has killed employment opportunities for US citizens and even General Motors and Ford are failing, US economic growth depends on how much longer the rest of the world will absorb our debt and finance our consumption.

more...

[acmavm]

1. Oh my goodness. A harsh dose of reality in the republican fantasy

world.

Will anyone notice?????????

[Nikki Stone 1]

2. The IMF is surest way to lose any sovreignty we have left.

....

[ladjf]

4. Is Wolfowitz the head of IMF?

[AX10]

3. That means the Neo-Cons would have to listen to the world community...

and do as they demand. That's going to be hard pill to swallow for them.

[Ouabache]

5. Something is up with the reported slowing of Rapid Refunds

Saw it on local news tonight. Rapid Refunds may not be so 'rapid' this year. They are being delayed by 'your' government because they are worried about 'fraud'. Yeah right, the fraud is in the White House. When this came up I thought, ok discontinuance of M3 in March, Iranian Oil Bourse goes online in March-April. All at the same time the IRS would normally be refunding out of the treasury. Fraud, my ass, something else is up. And I think it has to do with the liquidity of the US Treasury.

[kineneb]

6. beware Mar.20

"Iranian Oil bourse goes online in March-April."

Persian New Year (Nou Rooz) is the vernal equinox, this year- Mar. 20. The next day will probably be the opening day.

[IChing]

7. $ 2,000,000,000,000 let than sink in for a moment....a lot of Zeros eh?

Then remember in March the federal government will no longer report the Financial M3 figures
don't forget to buy your wheelbarrow so you can take to the store shopping,


http://themessthatgreenspanmade.blogspot.com/2005/11/m3-moneyness-and-conspiracy-theories.html

[TahitiNut]

8. $1,999,999,999,999.99 in retail terms.

:silly: Now, doesn't that look like a good deal?

[IChing]

9. Yes, I guess I might see that price at WalMart in September 2006

for those great tube socks that they will have on sale.

I've got my handydandy, contractors, heavy duty, yellow ,wheelbarrow ready in the garage ready for that sale.
:evilgrin:

[Karmadillo]

10. Kick

nt