Flashback - September 2007 - George Bush Downplays Growing Mortgage Crisis

[Median Democrat]

Okay, so do you prefer Bush's happy talk or Obama's in your face statements that we are economically in a world of hurt?

http://www.msnbc.msn.com/id/17152244/

/snip

WASHINGTON - President Bush on Thursday cited "some unsettling times" in the U.S. housing and credit markets as he sought to assure jittery Americans that the economy is holding up well despite worries about a recession.

"I say that the fundamentals of our nation's economy are strong," Bush told a White House news conference.

Inflation is down, markets are steady, unemployment is relatively low, exports are up and corporate profits seem to be healthy, Bush told reporters.

He was asked about concerns by some economists that the housing slump and higher mortgage costs could lead to a recession even in spite of action earlier this week by the Federal Reserve to cut short-term interest rates by a half-percentage point.

"There is no question that there is some unsettling times in the housing market and credits associated with the housing market," the president said. But he said he didn't see that spreading to the broader economy.

Bush said he was optimistic about the economy. "But I would be pessimistic if I thought Congress was going to get their -- and they're not. We're not going to raise taxes," he added.

/snip

[malaise]

1. Molly Ivins knew this was coming

http://www.truthdig.com/report/item/20060717_molly_ivins_suicide_capitalism

[blm]

2. and Kerry added a plank in 04 Dem platform to deal with coming mortgage/credit crisis. No newsmedia

was interested enough to discuss this new plank in the Dem platform.

[malaise]

3. The media is a significant part of the problem

Non stop partisan hacks spewing crap all day.

[blm]

5. and not a damn one of them would own up to this...like they ignored their refusal to cover

Kerry's speech in June2004 to gulf coast audience that, as president, he would immediately fund the 16 billion dollar project needed to strengthen the coastline.

Think media would DARE report on that AFTER Katrina?

[malaise]

6. They are partisan hacks

covering up for Bush. Now it's Obama's responsible for the markets falling. Fugg all of them.

[gratuitous]

4. Oh, it was so much more fun listening to the SBVT

After all, did you know that of all the people John Kerry served with in Vietnam, exactly one guy who sort of knew Kerry in those days didn't think he earned all those Purple Heart medals? Everyone else who served with Kerry said he was the real deal, and the Secretary of Navy apparently thought so, too, in awarding him all his citations. But one guy said it wasn't so, and he had a whole lot of money and cynical power manipulators behind him, so we had to spend the entire 2004 election "debating" this vital question.

The media just didn't have time to spend on mortgage or credit problems. Not very sexy or interesting. And certainly nothing some overweight women couldn't lampoon with a band-aid on her chins.