"Give me your tired, your poor, Your huddled masses yearning to breathe free, The wretched refuse of your teeming shore. Send these, the homeless, tempest-tossed to me. I lift my lamp beside the golden door." The Statue of Liberty (P.S. Please be so kind as to enter through the proper channels and in an orderly fashion)

Location: Arlington, Virginia, United States

Wednesday, July 16, 2008

The Economy

For the record, I'm aware that the economic situation in key areas is
spiraling downward as I write this and that smart people with no
political axes to grind and whose assessments I take seriously are
warning of unprecedented damages.

One described it as "the financial world falling off its axis."

Still, others are characterizing it as a medium to deep recession that will run its "normal" course but is not derailing.

Whatever the case, to monger fear and intentionally talk it down to depress a key driver--consumer confidence--for the sole purpose of making the presiding administration look bad (well beyond its actual responsibilities for the downturn) is unconscionably villainous.


Blogger Kelly said...

Much of our economic problems stem from lending practices that were a bit on the high risk side. If people really understood who the movers and shakers are they would see how little the influence the POTUS has in the current economic downturn.

7:10 PM  
Blogger Phelonius said...

Exactly, Kelly.

The President can do little, but GW has taken the opportunity to get us off of our asses to start to drill for our own oil and to look to our own resources for other types of energy. That at least will make a difference.

7:16 PM  
Blogger John said...

If you want to point fingers of blame for the oil prices, look no further than the environmentalists (who are a base of the DNC).

8:33 PM  
Blogger John said...

The oil prices, btw, tumbled on Bush's announcement that we're going to drill.

9:10 PM  
Anonymous Anonymous said...

The Congress is more at fault than the President. They write the laws and regulations that require lending to financially risky people under the masquerade of non-discrimination and Equal Opportunity lending.

6:22 AM  
Anonymous Anonymous said...

When did the recently lifted "Executive" ban of offshore drilling ever get instituted? Was it under Carter? And even though Bush "lifted" the ban, doesn't Congress still have one in place?

How does this kind of thing happen?

6:25 AM  
Blogger John said...

Pressure from environmentalists.

12:43 PM  
Blogger John said...

Wow. The DOW's up 207 points today. Oil went down fifteen bucks a barrel.

Someone here was gloating in certitude that the market would collapse on Monday.

5:48 PM  

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