Thread: Bush on the economy: It's just an adjustment

So I listened to his press conference on the way to work this morning. Jesus, is this guy really this clueless? Every time he speaks I think he sinks to a new level of stupidity.


Foreclosures skyrocketing. Fuel costs skyrocketing. Unemployment going up. GM facing bankruptcy. Investors losing money left and right. The market collapsing. A new record annual deficit. Thank god there's only 127 more days of this shit.

But don't worry folks, according to Bush it's just an adjustment.

washingtonpost.com

President Bush today lamented what he described as "painful" adjustments in U.S. financial markets following the collapse of the Lehman Brothers investment firm, but he gave no indication of any further federal bailouts and said the markets are resilient enough to handle the disruptions.
In brief remarks at an appearance in the White House Rose Garden with the visiting president of Ghana, Bush said his administration is "working to reduce disruptions and minimize the impact of these financial market developments on the broader economy." He expressed appreciation for the work of the Treasury Department, the Federal Reserve, the Securities and Exchange Commission and major financial institutions in promoting stability.
"As policy-makers, we're focused on the health of the financial system as a whole," Bush said. "In the short run, adjustments in the financial markets can be painful, both for the people concerned about their investments and for the employees of the affected firms. In the long run, I'm confident that our capital markets are flexible and resilient and can deal with these adjustments."

He expressed appreciation for the work of the Treasury Department, the Federal Reserve, the Securities and Exchange Commission and major financial institutions in promoting stability.

:laughing::laughing::laughing:

So I listened to his press conference on the way to work this morning. Jesus, is this guy really this clueless? Every time he speaks I think he sinks to a new level of stupidity.

Foreclosures skyrocketing. Fuel costs skyrocketing. Unemployment going up. GM facing bankruptcy. Investors losing money left and right. The market collapsing. A new record annual deficit. Thank god there's only 127 more days of this shit.

But don't worry folks, according to Bush it's just an adjustment.

Have to defend GW on this one. The last thing anyone wants is a panic. Bank runs are a self fulfilling prophecy.

If no one panics, and Washington (not just Bush) makes some sweeping policy changes, it will show to be an adjustment. 90% of the current problems stem from the Mortgage crisis, something Washington has little to no control over.

Originally Posted by Think for myself

So I listened to his press conference on the way to work this morning. Jesus, is this guy really this clueless? Every time he speaks I think he sinks to a new level of stupidity.


Foreclosures skyrocketing. Fuel costs skyrocketing. Unemployment going up. GM facing bankruptcy. Investors losing money left and right. The market collapsing. A new record annual deficit. Thank god there's only 127 more days of this shit.

What, you think the problems caused by excessive socialism are going to go away just because one of the socialists retires?

How silly you are.

Then again, it is pretty much just an adjustment and if you people don't panic and run over a cliff, you'll probably survive just fine.

Panic, please.

Yeah - well, I'll take this opportunity once again, to point out that

Bush is a LIAR!

Everything that comes out of his mouth, is a lie. Bank on it.

How do you warn people when............ the sky really is falling??

Originally Posted by Devil505

How do you warn people when............ the sky really is falling??

When some of the falling debris hits them in the head.

Originally Posted by Devil505

How do you warn people when............ the sky really is falling??

How do you remind people that panic and pessimism are far more likely to cause an economic meltdown than a shaky financial sector?

Originally Posted by Akkaid

If no one panics, and Washington (not just Bush) makes some sweeping policy changes, it will show to be an adjustment. 90% of the current problems stem from the Mortgage crisis, something Washington has little to no control over.

If no one panics, the fraud will continue to go on a little longer with a few more band-aids applied here and there. Sooner or later the whole system will come crashing down.

Originally Posted by Akkaid

How do you remind people that panic and pessimism are far more likely to cause an economic meltdown than a shaky financial sector?

You're right!....(shoves his head back in the sand....right next to John McCain's):scared: