Bush: Banking system is ‘basically sound’

"I understand there's a lot of nervousness," Bush said. "The economy is growing. Productivity is high. Trade's up. People are working."

What a dufus.
 
Actually this picture is closer to his speech today

BushIdiot2.jpg
 
His job is to be the cheerleader for the country... just as he was in college.

Most politicians try to make everything sound better than they are, thats their job. Furthermore, if things are bad, they are partly the blame because their voting on the legislation that affects the businesses. If he admitted that several of these financial firms might become bankrupt, their could be a nation-wide run on the banks. Why cause panic for the Joe 6-pack? Let them watch their tv and eat McDonalds all day.
 
How old are you guys?

You think this is bad?

Todays unemployment rate 5.5%. In 1932 it was over 23%. in 1982 it was nearly 10%

Todays Prime Rate 5%. In 1981 it was 21%

Look around you. Houses have never been bigger. Try finding a car that is over 10 years old on the road. Go to a resturant this weekend and see if you can get a table.

What a bunch of pussies. :D
 
Quote from Tums:

You know you are in trouble when he says that...

Bush: Banking system is ‘basically sound’

<img src="http://msnbcmedia3.msn.com/j/msnbc/Components/Photo/_new/080715-bush-presser-hmed-821a.hmedium.jpg">

http://www.msnbc.msn.com/id/25687265/
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Sound? The sound of 1 hand clapping...?:D

It's a MENTAL RECESSION dammit!! The market dropping is an illusion too!!
 
The way to calculate unemployment in US has been changed in Volcker's era.

In reality, it is much higher than 5.5%.


Quote from Arnie:

How old are you guys?

You think this is bad?

Todays unemployment rate 5.5%. In 1932 it was over 23%. in 1982 it was nearly 10%

Todays Prime Rate 5%. In 1981 it was 21%

Look around you. Houses have never been bigger. Try finding a car that is over 10 years old on the road. Go to a resturant this weekend and see if you can get a table.

What a bunch of pussies. :D
More...
 
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