Here's how uneasy I am about this economy- I was actually ROOTING for Bush just now.

[El Pinko]

At his speech to the economists, I was just sitting there hoping against hope that he would say SOMETHING to inspire confidence in out economy and our institutions in investors, in the world, and in myself.

I even sort of agreed with him at a couple of points - like when he said that we need to let market correct - but then he goes and contradicts himself by touting his bailout of homedebtors, which is the exact opposite of letting the housing market correct...

I also chuckled a bit when he mentioned his frustration that many borrowers in default were not responding to the offers of help with refinancing. DUH! The people who are not responding are DEEP underwater. No amount of refinancing will make them want to keep making payments on a house that has lost 100K in value in a year and is now worth 100K less than the principle of the loan!


But alas, all he did was the same old same old - mouthing empty treacle about the US economy being "funnamennaly shtrong" and the need to avoid "falsh popyalishm and pertecshunishm" and about how much NAFTA has helped America and how unemployed workers just need to go back to school.


Economic disaster continues to explode at a geometric rate, and we get this soft-soap.


fuck.

[bigendian]

1. Amen, brother.

Next shoe to drop. Bear Stearns debacle.

[enid602]

2. WIN

I hear you; I even wore my old WIN (Whip the Idiot Now) button.

[lonestarnot]

3. OMG! Take some pills!