28May/082
The Political Rant
Well, we have some interesting news. The former Bush press secretary, Scott McClellan, has written a book about the White House and it isn't pretty. Specifically, the President is a guy who doesn't admit mistakes and is in constant campaign mode. Seriously, from an economic point of view, I don't think you could possibly find a guy that's more out of touch. Well, maybe Daddy. It's so funny because in 1991 and now, the economy sucked, but in addition to the economy sucking, inflation is terrible, prices are out of control and our esteemed leader doesn't seem to care. Well unless it has to do with the death tax, which will apparently fix everything. Okay. I'll stop right here. Click here for the MSNBC article.
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Glen:
Dan:
Dan:
May 28th, 2008 - 15:02
The economy doesn’t suck. It’s just worse than it used to be, which was pretty good. Inflation isn’t bad, and unemployment is still low. We just need to avoid 1) more money giveaways, like the bipartisan “please vote for us incumbents because we give you free money” stimulus package and 2) bailing out investors and banks who made stupidly risky investments. Sure, real estate speculators are suffering after driving up home prices far beyond reasonable market value, just like commodity speculators will suffer when food and energy prices return to sane values.
We really have not had a bad economy in this country since the stagflation of the Carter years. Compare inflation and unemployment then and now. I don’t know, maybe Carter cared more, you know, deep down inside, which is what’s really important, not those silly statistics.
G.W., for all his many faults, is doing what presidents should do, which is being a cheerleader trying to instill consumers and investors with confidence in the economy. If he says, “we’re going to have a recession, and it’s going to be long, but I feel your pain” then it will be a self-fulfilling prophecy.
Congress, on the other hand, is being irresponsible in an election year, trying to spend as much money as possible in an effort to look compassionate. And that’s true of both parties.
May 28th, 2008 - 20:09
Yes — dropping the gas tax is insane.
I don’t have a problem with speculators taking up the butt either. However, between gas prices and food prices, you can’t tell me that the average consumer is better off than they were in 2000.
I am not sure if food and gas will return to sanity….I sure hope they do!
Bush is like the Iraq foreign minister — “No, we’re not under attack (boom).” It’s pretty obvious wherever you go that there is a problem that a $600 check can’t cure. It’s not even acknowledged.
I really can’t speak about Carter, I was too young. The little speech I see him give on Letterman’s Great Moments In Presidential Speeches is not a good one …basically like you said making disaster a self fulfilling prophecy.