Monday, September 29, 2008

When a President Cries Wolf

A laundry list of potential disasters have been spewed from Washington for the past seven years. The nation soaked it in. Bush had a long way to fall from his popularity after 9/11. The fall started with the rising violence in Iraq and Katrina at home. A real live disaster which inspired no real response from Bush. People saw incompetence from the leaders who led the war in Iraq and were supposed to protect us at home. The disaster came, but it wasn't what we were told to expect.

Now, the biggest disaster to our economy since the Great Depression has arrived and there is 0 trust in Washington to get us out. Overwhelmingly, Americans called their elected officials to say we'd rather risk the fate of the markets than put our financial future in the hands of the Bush administration. Lack of trust is so blatant that only 1/3 of Requblicans and 60% of Democrats voted for the bill. The Dow fell 777 points or 7% by the end of the day. Biggest single day point loss ever.

As Paul Krugman said, "So what we now have is non-functional government in the face of a major crisis, because Congress includes a quorum of crazies and nobody trusts the White House an inch." "We're a banana republic with nukes."

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