DISQUS

tofubo · 1 year ago

got hyperinflation ??

help the economy, buy a wheelbarrow

woodroad34 · 1 year ago

I remember my Ultra Conservative friend saying, when the idiot first assumed the Throne, that we'll see how smart and prescient Bush really is. All during his presidnecy, this friend would scream and spit in your face if anything bad was said about The First Idiot. I got an upfront view of this when I reminded him that Texas became a third world state in education and income under his governorship, that he'd failed in every business he undertook and while head of the Rangers was involved in a shady land deal. Welllllll, looky now! This country is in the worst economic shape in the last 30 years under his stewardship, his criminality and sleeze knows no bounds, he's massively outdone his brother's Savings and Loan debacle, and we're in a never-ending war.

My friend is very meek and much more friendly the past few months. He must be one of the 54% of conservatives (note I didn't say Republicans--that would be 37%) who disapprove of Bush's performance: http://apnews.excite.com/article/20080715/D91UH...

PaulG · 1 year ago

Who is he planning to vote for come November, though?

woodroad34 · 1 year ago

McStain, but with his nose pinched. He thinks/breathes/sleeps Conservative. Oddly, he laughs about his inability to read a person's character. I guess that I've been karmically placed on earth for him.

OlderAndWiser · 1 year ago

I'm watching the hearing...Bernanke says inflation is "too high" but at the same time, denies a recession. Says Fannie & Freddie are in "no danger of failure" so--why open the discount window to them? Why the emergency legislation? Why all these measures being implemented for the sake of F&F and other financial institutions?

The fact that the transfer of wealth, the real unemployment among Americans with diminishing wages for those employed are not being discussed at length is troubling.

Oh yes, let's protect the rich at all costs to the population. Meanwhle, I have my pitchfork and torch ready.

woodroad34 · 1 year ago

Ah, but Bush (AKA Mr Topsy-Turvy) says the US Economy is "basically sound". That, to me, is like someone screaming "Fire" in a crowded theater. Apparently, he hasn't been listening to his Fed Chief.

vwcat · 1 year ago

good thing Bush made sure the super rich got so much money over the past 8 years so they don't have to suffer in this economy. Bet he's glad.

woodroad34 · 1 year ago

And I forgot to mention it costs more to fill up half a tank of gas than it did to fill up a full tank and my grocery bill has quadrupled....from $50 to $200 per week.

OlderAndWiser · 1 year ago

Oh, and commercial loans were touched on--briefly. There's something coming down there as well. One 28 story condo highrise in Charlotte is already under foreclosure, not even partially finished. And they're still building, building, building all kinds of commercial properties that will wind up being foreclosed as well. Newly constructed strip malls around here that will never have tenants, being empty for 6 months. Lowering rents to entice tenants will only speed up foreclosure.

KerrynowCampau · 1 year ago

All the building of retail stores is concerning and not very forward thinking. In my little city construction has boomed in the last 5 years. I just don't see most of the retail being able to sustain itself.

Soundboy_jeff_meanie · 1 year ago

they can't... just like the housing market is dead.

I can drive you around San Diego and show you at least 10 high-rise condo buildings that haven't been finished. some are just holes in the ground with a cement pad at the bottom... some are already 10 stories up. there's nobody buying... especially not at the prices they originally were asking for them. and the contractors can't afford to finish them.

now, the question is... will they sit empty/unfinished for years because the housing bubble burst?

KerrynowCampau · 1 year ago

Maybe all the soon-to-be-homeless can live in the more completed buildings.

scottinsf · 1 year ago

Maybe all the mega-churches and Home Depot buildings that will be closing can be used also.

unrepentant_expat · 1 year ago

Ever since the 1997-1998 Asian financial crisis unfinished high-rises and transportation systems stand as monuments to fickleness of financial infrastructure.

OlderAndWiser · 1 year ago

Bernanke is really talking in circles. And Woodroad, Bush did listen to Bernanke, who just said the economy was sound. He said also that Fannie & Freddie were capitalized sufficiently, but yet---the GSEs (F&F) need help from Congress.

None of it makes the least bit of sense when the rest of us are paying the price for what Wall St. and this govt have done to us.

devlzadvocate · 1 year ago

Bush's press conference - almost nobody pays any attention to anything he says anymore. I caught a few minutes of him yesterday and it almost seemed like he was becoming transparent right before my eyes. I thought, "Wow, he's going away! And whatever happened to that Cheney guy? Did he already disappear?

nicho · 1 year ago

Don't kid yourself. These fascists never go away. At best, they scurry into the woodwork and bide their time until they can come out and infest the country again.

hawkseye · 1 year ago

Nice metaphor.

Soundboy_jeff_meanie · 1 year ago

Sorta on topic... as it affects everything else bought or sold in this country...



Closing Enron Loophole Would Drop Oil Prices 25% - 50% Overnight
http://www.pensitoreview.com/2008/06/22/closing...

its amazing to me that reporters keep throwing softball questions on the price of oil/gas... but none of them have EVER mentioned the enron loophole.

and when they ask chimpy what, if anything, he can do to help us out on gas prices... he never mentions it either (instead talking about offshore drilling?? WTF?!?!).

then again, he signed it into law.

this would be a VERY quick fix... and prices would drop immediately.

paulbot5 · 1 year ago

Inflation is a tax

confusion · 1 year ago

confusion say...I'm confuse, Republican give us fat pig and looky good but pig filled with hot air likey a balloon. I want money back.

PaulG · 1 year ago

This is why for years when a-holes like John Stossel start talking about how gas isn't really more expensive compared to the cost of living, I want to strangle them.

Soundboy_jeff_meanie · 1 year ago

but wages aren't rising with the cost of living... firings, however, are going up.

.

Indigo · 1 year ago

That puts us back in 1991 which wasn't all that wonderful of a year. The point is that when you put lipstick on a pig, what you've got is neither more nor less than a pig wearing lipstick.

unrepentant_expat · 1 year ago

"Almost everything that consumers spent money on last month — from food to electricity and gasoline — took a bigger piece of their paycheck.

For those in the auto and construction industry there may be no more pay checks.

Soundboy_jeff_meanie · 1 year ago

with the way jobs are moving offshore... only retail and medical professionals are going to be left here.

jr · 1 year ago

"can I be paid in Euros?"

therepguy · 1 year ago

Yet anouth gift from the bush family to the American people and the attached card reads 'FUCK ONE AND ALL"!

Bushism is just another name for Fascism... which is something that America can do without!

hawkseye · 1 year ago

OT, butrelated: I've only seen parts of it twice, but CNBC is doing an interesting pre-market-opening show. Sure beats Morning Joe unless Joe is absent.