07 October 2008

In Front of Decrepit-Looking Soda Jerk, Bush Says Economy Will be A-OK

Bush spoke to reporters in front the Olmos Pharmacy Soda Fountain and said that "In the long run the economy is going to be fine. It is a resilient economy, a productive economy" (AFP). I dunno...I'm half expecting The Fonz to come strolling out the door in the background to remind us that our society is moving so far backwards because of this shitass economy. Bush could've inspired at least a little more optimism by relating to the late 90s, when the Dow first hit 10,000, with some Seinfeldesque one-liners and talking about hoarding bottled water for Y2K.

But since politicians are generally only cut out to hurt the economy through taxes and wasteful spending, it's nice to see Bob Barr shed some light on the BOMB (Bush-McCain-Obama Bailout):

Congress passed the $700 billion Wall Street bailout on Friday, supported by both Senators John McCain and Barack Obama. The U.S. stock market promptly dropped. Over the weekend the financial crisis threatened European banks, and stock prices across Asia and Europe tanked. So much for the argument that the bailout was necessary to calm the markets.

Not that I enjoy seeing my IRA reduced to 7 cents, a button, and a packet of magic beans, but he seems to understand the actual causes behind this fiasco instead of just repeating jingoistic optimism about everything getting better.