Bush economy crashing, DOW hits 2008 low

Feedback.pdxradio.com message board: Archives: Politics & other archives: 2008: Apr, May, Jun -- 2008: Bush economy crashing, DOW hits 2008 low
Author: Andy_brown
Thursday, June 26, 2008 - 1:17 pm
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The ability of George Bush and his administration to operate the government in a way that moves the economy forward (or even tread water) is clearly too much of a challenge for our inept Commander in Chief. Added to his track record of business failures in the private sector, it comes as no surprise to many that the continued tumble on Wall Street in combination with the failed Cheney energy policy is taking the country's economy right down into the rabbit hole.

"Stocks plunged Thursday as Wall Street contended with a barrage of bad news: another surge in oil prices and warnings of trouble in the key financial, automotive and high-tech industries. The major indexes showed losses of about 2 percent, including the Dow Jones industrial average, which at times shed more than 300 points and dropped to its lowest level in nearly two years."

The main reason for a good portion of this, perhaps all of it depending on how you agree or not on the connectivity of International policy to domestic growth, is the misdirected war in Iraq. Draining billions of dollars from the government coffers, much of it wasted and unaccounted for in the gray haze of what the administration calls the privatization of our needs in the war zone, the Bush team has squandered the entire economy in their greedy pursuit of oil wealth for Cheney's energy industry cohorts. Then Greenspan came out and admitted the war was all about oil, the plethora of books about the deviousness of the administration to make the case for a war thousands of miles away from the real problem, etc. etc. It all adds up to the monumental failure of the Republican Party. In charge of Congress for 12 years, they succeeded in starving the funding for so many needed areas of research it would take a whole day to document it all, even briefly. Instead, tax breaks for the wealthy, incentives to outsource American jobs, and a list of lies about what was going on in Iraq are all that is left to parse.

Author: Deane_johnson
Thursday, June 26, 2008 - 2:41 pm
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Sob, sob.

Author: Andy_brown
Thursday, June 26, 2008 - 2:56 pm
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Yes, the shrub is an SOB. Cheney even more so.

You elected them. That makes you part of the problem.

If and when their malfeasance hits home at the Johnson residence, you will cry a different tune. Until then, please know your sarcasm is neither humorous nor entertaining, and is clearly a reflection of how you are too caught up in your own ego to understand how much damage the administration has done to the economy and the general welfare of the ship of state. Your response shows you don't really want to make a worthwhile attempt at explaining the actions of the asses in the White House, rather you just want to troll for an emotional response or someone to just tell you to go fuck yourself. I'd rather discuss this with someone who cares about the country as a whole, which you clearly do not.

Author: Darktemper
Thursday, June 26, 2008 - 3:02 pm
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I really hope that when charges are finally filed that President Elect Obama does not issue any executive pardon's and that these criminal actions are prosecuted to the fullest extent of law. You can be rest assured that if by some miracle McCain wins there will be plenty of "Pardon Me's" to go around.

Author: Trixter
Thursday, June 26, 2008 - 5:47 pm
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Sob, sob.

Why cry DJ??? According to YOUR EXTREME RADICAL RIGHT everything in America is great!
At least Midol hasn't got so expensive that you have to get the store brand.

Author: Vitalogy
Thursday, June 26, 2008 - 11:46 pm
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The part that Deane can't defend is that the Iraq war has added a premium to the price of oil AND caused the US to run higher deficits. The increase in military spending and cutting of taxes has increased our deficit spending. Both of these factors has led to a monetary policy that favors lowering interest rates which weakens the dollar and increases the price of oil, which in turn leads to inflation and in turn will lead to higher interest rates and lower growth. George W. Bush has created the perfect storm for STAGFLATION. We are in a repeat of the late 70's, early 80's. The GOP has ruined the economy. They don't know shit about running shit.

Think about this: In less than 8 years, George W. Bush has taken the national debt from $6 trillion to $10 trillion. Less than 8 years!! The entire world's economy is worth $50 trillion per year. We have 20% of the world's economy on a fucking credit card.

Author: Skeptical
Friday, June 27, 2008 - 12:53 am
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To describe the economy under Bush, let me quote a jetliner Captain just seconds before his plane impacted the ground: "aw shit."


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