Originally Posted by
Tristan Jones
I do have a feeling that people on this group are making assumptions about the Americian economy and political developments which I think are frankly untrue.
So that 50% of value which people have lost in their IRAs and 401(k)s is scheduled to be magically restored on some day next week or next month? The real estate bubble in fact is in no danger of bursting? The banks in fact will not have to write off their massive loans to these now bankrupt corporations? Pro-Bush Republican analyst Larry Kudlow was only kidding when he stated that the US narrowly averted a
bank run a week or two ago?
Despite the fall in Wall Street the US Economy has remained strong with unemployment lower than just about every other western nation.
Investor confidence is way down...and for good reason. And if you want to compare unemployment rates, you have to determine what methodology the US government is using this week in order to doctor the numbers. What are they calling full employment this week? All but 8% of the population working?
The Political momention in the United States still remains firmly on the right
Is this why the Bush administration has been implementing the Democrats' agenda?
and GW Bush is a quite underrated president, I do think he could show quite insightful political intelligence in the next few years.
Pinnochio was fiction. It was not a true story.