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Disconnect, Depression

The Republicans say we're having "Tough economic times", but it's "not a recession, the economy is strong and growing", yada, yada.

If that's the case, why are banks failing, and why are more predicted? Why is Fannie Mae and Freddie Mac having troubles, possibly needing a bailout? Why have my 401K's lost money for the last 3 quarters? (This is often a leading indicator of financial trauma, I've found.)

http://ap.google.com/article/ALeqM5gFzNrCs-LehvnfeVUnbMXkEN7t-wD91UDC682
http://www.latimes.com/news/printedition/front/la-fi-indymac15-2008jul15,0,4702660.story
http://online.wsj.com/article/SB121608077590852783.html?mod=googlenews_wsj
http://www.bloomberg.com/apps/news?pid=20601103&sid=ar6r36.ft25A&refer=news
http://ap.google.com/article/ALeqM5ivh79tfxzU32POF3I6d9RM5FoxewD91UARFG0

George W Bush combines the worst aspects of Warren G Harding, (see this historical article), Calvin Coolidge (See this summary of depression events, including conservative scandals) and Richard M Nixon.

If McCain is elected, he will get the Calvin Coolidge role in history, as he brings the Bush-lite "deregulate and pray, tax the poor, subsidize the rich and the megacorporations", brand of conservatism that is proving once again to be a disaster.

My mattress is starting to look really financially sound right about now.

Comments

( 1 comment — Leave a comment )
fizzyland
Jul. 15th, 2008 07:15 pm (UTC)
Well, the Republican Contract on America has run its course and in my opinion, McCain is the Bob Dole of this election.
( 1 comment — Leave a comment )

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