Bush 2007: Economy is great!, Bush 2008: Economy is about to implode!
By SilentPatriot Tuesday Sep 30, 2008 8:45am
CNN's Christine Romans looks through the archives and finds that either the Bush administration was completely oblivious to the impending financial crisis, or were simply lying to the public. Watch and reach your own conclusion.
Download | play 
Download | play
ROMANS: It's about as dire a President can get on the economy.
PRES. BUSH: We're facing a choice between action and the real prospect of economic hardship for millions of Americans.
ROMANS: This from an administration that for months said the economy was vibrant, the financial system strong. The President didn't acknowledge 'storm clouds' until last December, By then, it was raining.
Login or Register to post comments.
Yep!
Bush,
He is, was, and always will be a lying, greedy, idiot.
That man HATES America for its freedoms.
Bail out is for foreign investors. NOT mainstreet USA
Karl Denninger included a piece from CNBC that shows Brad Sherman, D-California explaining the bailout bill is carefully worded to bail out the rich foreign investors.
market-ticker.denninger.net
I would have written this off as Karl’s presentation seemed over the top if it were not for the CNBC piece, people were getting lied to again and bent over again. The bill is bad.
Kurt Smith
Boosh was just hanging on hoping this wouldn't happen until after he left office. We're not in a recession. Uh Huh! Sure.
Now we're on the verge of collapse. This guy cried wolf so many times, no one believes anything he says anymore.
And for just reasons. Everything this guy has touched has turned into shit. Everything. Just go away Jorge.
Wow, real reporting! Obviously taking some pointers from the Daily SHow style but it's good to see the media actually acknowledge that events are more than just the current moment. That the past has relevence to the present. So obvious, yet so rare to see.
A world of people voted for this clown two times when a very casual check would have demonstrated he has failed at every endeavor he has ever attempted Am I supposed to feel sorry for Americans or am I supposed to question whether they have the sense god gave a squirrel
And this is the same ignorant crazy fuck that claims our 700 billion will solve the current economic crisis.
Just read this one from AP too...
Palin's foreign negotiations limited to Canada
Imagine what a wonderful time we'd be having right now, if the media had started doing this kind of thing (i.e. their job) seven or eight years ago.
If the guy won't accept any responsibility, the LEAST he could do is come across like he's in control of it now. Even if it's a bunch of BS, the appearance of that would help a lot of people's nerves.
Instead we have to watch him on the TV, running up to a podium and instantly going into a speech, fumbling over words and then disappearing afterward. It's depressing.
Watch the video Money as Debt by Paul Grignon that Rep. Kucinichs office is e-mailing out to people. A 47 minute animated history of our finacial systems. Well worth the watch!
I wish they'd taken the story a step further and shown recent clips of McCain saying "the fundamentals of the economy are strong." Now that would have been something.
Pete @ 6:
Wow, man. Very well said, but stop insulting squirrels.
Lies.
worst. President. EVER. period.
I wonder if that simple minded mass murderer knows the extent of the hatred directed at him by millions the world over.
This is the man, who during his first stolen/appointed term, said that he has done more for human rights than any other US president.
I would guess that he sees the hatred directed at him as an affirmation of his miserable life.
That, and the coming martial law that makes him president for life.
The correct line is they have been lying to the people the entire time thay have been in office.
The republican want to drown the American people just like norquest said, it has been the plan from the begining.
They want us to be like china or mexico, they want us to be to worried about feeding our families to pay attention to how they are stealing from us.
If they pass this pig we should go burn washington down.
Yup. Yup. Shrub was just "kicking the can" down the road, knowing all along about the impending catastrophe, but he sooo wanted the house of cards to hold up just long enough to hand it over to the next president, most likely Obama. If it had played out as he had hoped, and the whole thing exploded on January 22, 2009, you would not hear the end of it being Obama's fault and call for impeachment, special investigations being convened, etc., and a full replay of Whitewater would be in full effect. The stinking scumbags! Karma is a beeyach.
CNN is learning from the daily show? They just play one day's statement and then the next day's statement and the jokes just write themselves.
james Ratliff @ 16:
Save the buildings.
One word.
Guillotine.
George W. Bush's dishonesty, arrogance, ignorance, incompetence and pig-headedness have driven our country into a deficit ditch so deep that it will take our economy decades to recover. But "he" won't lose a single night of sleep over it. He'll never miss a car or mortgage payment. He'll never have to choose between buying himself a new winter coat or his children Christmas presents. He'll never have to worry about losing his job or getting sick or being unable to afford the braces his children need. After all the pain and suffereing he has caused millions of Americans, he will live the remainder of his counterproductive life in obscene luxury.
osage @ 20:
Well said.
I do believe that you have nailed it.
Palermo @ 14:
How about: WORST. AMERICAN. EVER.
Heheh,..Bush looked genuinely surprised in that presser back in March when a reporter asked him about an impending $4/gallon coming last spring. His handlers don't tell him anything they're afraid he wont understand - including the economy.
Bush is just a placeholder. He's just holding his breath until January.
We're facing the 'prospect of economic hardship'?
He's still behind the curve.
Many Americans are living the truth of economic hardship now.
What we are facing is the prospect of economic Armageddon.
Dear American:
I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.
I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.
I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transaction is 100% safe.
This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.
Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.
Yours Faithfully
Minister of Treasury Paulson
Unfortunately, the truth has a very small place in these kinds of things. Would you really expect Bush to come on TV 8 months ago and say the US economy is headed into the abyss?
Of course not. It would caused a panic.
Your president is little more than a cheerleader - and has little latitude or knowledge to be honest with US voters about the economy.
This economic crisis is not exactly like the crash of '29...
Nobody jumping off buildings yet (myth in reality)
But...
A friend of mine has lost everything, and told me that he was feeling suicidal, so he called up the suicide hot line...
and wouldn't you know it.
The person answering the phone was at an "off shored" phone bank (which apparently was located in Pakistan) because...
the person that he talked to only asked him if he could drive a truck!!!
Back to the Ghost Dance
And yet people assume the bill these liars created is going to save us. They are trying to swindle us!
IdiotShrub @ 12:
Yeah! Some of my best friends are squirrels.......
And Mc Lame thinks the Healthcare system should be run just like the banking system in this country.
"Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."
An article by John McCain in the Sept./Oct. issue of Contingencies, the magazine of the American Academy of Actuaries.
What a douchebag.
His ignorance is overwhelming and the ignorance of his supporters is painful.
"Rescue?" I've never seen a clearer one-word tell regarding who backs whom. CNN backs the crooks.
"Looting" is the right word, or "heist." "Bailout" leaves open the possibility that the people being saved (mortgage speculators) might be worth saving. They aren't. They are thieves. Con artists. They belong in prison, along with George Bush and his entire criminal syndicate.
Remember not long ago when the Kudlow's of the world were screaming how
irresponsible it was to say "recession" on teevee?
That when the issue of our economy was addressed it was to be framed in as positive
a light as possible.
That any financial crisis could be avoided by repeating "the economy is great.".
These people are LIARS!
Man. You people in the US need your own Bastille Day. In France they celebrate this on July 14 which is pretty damn close to your Independence Day.
Neville @ 18:
It takes the court jester to educate the power brokers. Same as it ever was.
BaScOmBe hearts Rachel Maddow hates MSM @ 25:
Ha ha ha. Are you from Nigeria?
Now you know why they call it disposable income.
It might actually be easier to identify and count how many times the BushCo crowd spoke the truth to us???
That is assuming that they have ever spoken truthfully at all?!? As Groucho said to assume makes an ass-(of)u-(and)me
SandraM @ 11:
Waiting for someone to do a dance-mix mashup and put it on YouTube ...
Left&Left @ 22:
Seriously folks, with the possible exception of J. Edgar Hoover, what public figure has done more harm to the Country?
You'd think in a country with the right to bear arms you would taken up arms against this arrogant administration. I guess that may have been the real reason behind the war in Iraq...fewer soldiers on the home front to mount a revolution.
lying larry krudlow @ 32:
Now Kudlow is screaming that the bailout bill is intended to benefit foriegn banks, not US banks.
Karl Denninger has a current piece on this.
"the Bush administration was completely oblivious to the impending financial crisis, or were simply lying to the public."
The latter:
http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR200802...
The real story of the past two weeks has been the consolidation of the banks. They will not give control of the finances of the united states to anyone else, especially to obama. The economy, believe it or not, is the smokescreen. The fire sale of WAMU/WACHOVIA bank assets, the switch over of goldman sachs from investment bank to regular bank and the continued existence of the most corrupt bank ever in america BANK OF AMERICA, confirms it,IMO.
So get ready for 10.00 atm fees and sheer fleecing on loans for small business.
Bush 2007: Economy is great!, Bush 2008: Economy is about to implode!
And it's all Bill Clinton's fault
For not having left a bigger surplus.
SatininLumpofFatonMamasNeck @ 34:
http://www.youtube.com/watch?v=FmZvn83G348
Paulson: "The Economy is STRONG... our investment banks are STRONG!"
"Now give me 700 BILLION!"
We'll give it to 'ya. A 100 Bil for each LIMB...
Start HACKING!!!
DICKHEAD!
If we had just trusted Bush enough and had a strong enough belief that everything was coming up roses, none of this would have happened. /snark/
Herein lies the folly of the Roosevelt rule. Bush should be made to own the messes he and his administration have presided over and the American people should be obliged to either vote the bum out or accept their own culpability in his messes.
jimbo92107 @ 31:
BAIL: Money posted by the innocent to keep the guilty out of jail. If the guilty fail to show up for their court appearance (wherein they are held accountable for their actions and punishment meted out), the innocent forfeit the bail amount. The higher the bail, the more grievous the crime.
BAILOUT: Abandoning a plane that is crashing. We're paying $700 billion so the executives flying first class can safely depart the plane. Meanwhile, we're told to remain seated and stay calm.
BUY-IN: Money staked for a seat at a poker game. You are sitting down to gamble, and if you are playing high-stakes poker, you stand a good chance of losing your 'investment.' If we consider the example of a game of Texas Hold 'Em, our hole cards are an unsuited deuce/ten. The turn comes up and makes it clear that we have nothing, but somehow, we're convinced that if we gut it out through the river and flop, we'll end up with a royal flush.
We should yank the reigns right out of this administrations hands IMMEDIATELY! COMMON! If the driver of the bus your kids ride on every morning was an obviously INEXPERIENCED DRIVER WHO CONSISTENTLY MADE BAD DECISIONS, what would YOU do?
OT--
CNN reporting grenade-like device found outside Egyptian embassy in DC.
Lets play a game, Orders of magnitude (poor to ultra rich)
$7
A meal at some diner chain.
The Federal hourly minimum wage in 2009
$70
A meal at some posh restaurant.
Daily wage on or near minimum wage (10 or 12 hour shift)
Hourly rate for the top tier jobs in the US.
What some CEOs earn per minute. ($9M pa)
$700
Meal at an expensive restaurant.
Poor person’s budget buying a car.
Fortnightly wage, ($18K pa) US poverty line.
Weekly wage for average income US.
$7000
Price of a S/H mobile home.
Low mid end S/H car price.
A fancy watch (also tells time).
Weekly wage for some CEOs $(3.6M pa)
$70,000
The price NOW of some houses that were worth $100K a year or so ago.
A fancy new car.
Price of some ridiculous over priced watches (they also tell time).
Yearly salary for a nice job.
$700,000
Cost of a house somewhere nice.
Price some people pay for a car.
Wall Street annual income after basic salary and mega bonus.
Worth of a 401K scheme before they dropped a level.
$7,000,000
Cost of a ghetto mansion.
CEO annual salary.
Small/Medium sized companies income or worth.
Share option package for some lucky people.
$70,000,000
Price of a real mansion.
Some CEOs with mad skillz annual income.
$700,000,000
Size of top Wall Streeter’s stash in Switzerland.
What United Airlines lost playing futures with fuel prices.
$7,000,000,000
Play money for the top financial companies.
$70,000,000,000
Wanna buy an amazing Wall Street Company.
$700,000,000,000
Cost of saving Wall Street and destroying the worth of the Dollar.
______________
submitted in an earlier thread
Left&Left @ 39:
DBoucher @ 35:
:)
I'm sure Paulsen is!
Some coincidence. I logged into C & L this morning to mention the Romans report and BANG!, you had already posted it. Pretty telling stuff, alright. We need to circulate that piece all over "The Internets". Some first-rate campaign ammo, I think...
Pete @ 6:
Squirrels are smarter, man. Back the hell off.
This leads to several conclusions:
1)He's not laid off the sauce.
2)That the "extortion" of the century was planned.
3)He continues his forte of running everything into the ground.
4) He truly lacks empathy and doesn't care what happens to this country.
Unless his cronies and himself are brought up on charges, he doesn't care whether he'd lied or not to the American people. He's going to get his cut of the deal, just like his friends will get their cut. For him, that's all it matters. Nothing more, nothing less.
This is the problem with running government as a business. Business denies the existance of problems, they spin any information about the existance of a problem, the lie if investigated about a problem, they cheat and game the system so they don't get caught.
Republicans should be seen as the mayor in the movie Jaws. They had a shark problem that was spun as not a problem because the acknowledgement of the problem was going to hurt revenue. Deny, deny, deny. Until it swims up and bites them in the ass!
The economy has been a problem for the poor a lot longer than in the last few weeks. These overseers weren't looking to see if there were problems with the poor, only themselves. The economy swam up and bit them in the ass.
This has been the republican plan from the begining.
Remember norquist said he would like to drown the American people in a bath tub. Well that is what they are trying to do.
To hell with these people I got through to mcconnells office but all circuts are busy now I hope the people don't let up on these bastards we need to get rid of all of them!
I smell an imminent Orange Alert.
Duck and Cover!
gee, I was caught completely unaware by the president lying to the American people. Who would have thought that anyone in the bush administration would tell bald-faced lies to the citizenry of the USofA?
I'm shocked!
I'll believe the economy is really in the toilet when I start hearing about wealthy speculators going out windows or off balconies of convenient hi-rise banks...
Mick Piobr @ 15:
Why have martial law keep Bush in power when they can count on ignorant scared Americans to elect a shiny new version of the same miserable policies? The election of McCain would be the same effect as keeping Bush in power without the messy "Bill of Rights" issues brought up by instating Martial Law.
woody, tokin librul @ 62:
I'd travel to Wall Street to see that.
☺☻Bangkok Bob☻☺ @ 64:
Take an umbrella.
This whole crisis is, if not the final extortion by the gang of thugs and gunsels calling itself the "Bush Administration," at least probably the anti-penultimate one.
For one thing, there's not that much left to loot, except Social Security,, and I think there's every chance in the world thqat this crisis will be manipulated to further "problematize" that enormous pool of capital just sitting there helping the people.
My own economy is in the toilet when my chequebook slips out of my rear pocket, as I'm hitching up my britches.
Now you come out and expose his/this admin's credibility gap? Are you friggin' kidding me??
Well, CNN, you haven't exactly asked the right and pressing questions all that time, now have you? You could have done, like, you know, your job! Oh wait, Steven Colbert put 'your professional reporting' on WH press conferences so eloquently: It's your job to listen what they say, type it up and print it. Then go home and make love to your wife. (along those lines, sue me)
*sigh*
Ironically, it's the first time I see CNN use the Daily Show's long held tradition of actually comparing footage. Correct me if you've seen it before.
☺☻Bangkok Bob☻☺ @ 64:
http://www.youtube.com/watch?v=I4khXkE5gEI
ysbaddaden @ 67:
one of the unappreciated advantages of a debit card is its water-proofiness...
Hmmmmmmmmmmm.... pass a law that lowers interest rates? or, use the mortgage crisis as an excuse to steal a trillion dollars from the taxpayers? What to do.........
Welcome to the legacy of the Bushes: medicate, steal, lie and run.
Were they lying to us then or are they lying to us now? Both and always. Boy calling wolfe.
When have we ever known the bush misadministration to be so inclusive at such a dire time?
Does anyone remember the SOCIAL SECURITY hysteria!??!?!!? Not once were they asking for input across the aisle. It was their way or the highway....
There's no doubt they were praying that Bush was hoping the whole house of cards would hold up until after he was gone. He didn't care much whether he left it to a Republican or a Democrat to clear up. So long as he was safely ensconced in Crawford and Dick was safe in Aby Dhabi, it didn't matter to him. He's loyal only to himself and the amoral thieves who got him the presidency and kept him there.
Quite an evil plan..... since 07/01/03...... Bankrupting America
http://www.afterdowningstreet.org/node/36507
Economic Terrorists = Bush = Cheney = their crony neocon corporate advisors, economists, theorists, chief among them Grover Norquist
Global Financial Tsunami
http://www.globalresearch.ca/index.php?context=va&aid=10392
ysbaddaden@57
It's not too late. Call in your plumber for a serious bailout.
Stupid Git @ 63:
That is my point.
When did these neocons ever take the sensible route?
Hows that "off the table" working out for ya now, Nancy? Schmuck.
Bush is, was, and will always be a lair. He comes from a family of liars. He is surrounded by professional liars. He lies about his own lies. Did he lie about the economy? Well of course he lied. In point of fact we knew he lied, and will always lie and in that case we are liars too, lying to ourselves in the belief that we as a people would never subject the world to such deceit. But that is the biggest lie of all.
And that is the truth.
Worst President ever, bar none. Shameful.
If you Cant Make It, Now It Seems You Can Fake It! I have been in the real estate business for over 30 years! Many Many colleagues have told me about their "secrets" to close the deal in order to make the standard 6 percent commission! Using fake documentation for someone that couldn't qualify under a "normal" loan WAS ENCOURAGED! With Websites like www FAKEPAYCHECKSTUBS com out there, it seems like the "hungry" real estate professional used it's services to defraud the Lender and "help" the loan through the pipeline! SIC When is big print going to write about real estates dirty little secret?
Speaking of "watch and reach your own conclusion" take a look at this:
http://www.youtube.com/watch?v=VgctSIL8Lhs
Yes, it's from Fox, but it's loaded with what in the news biz call actualities,
which means real people speaking for themselves.
woody, tokin librul @ 70:
But that all depends prima facie if you already flused the feses.
feces.
Who knew. Bushs "think happy thoughts" strategy didnt work
"We’re facing a choice between action and the real prospect of economic hardship for millions of Americans." -Bush.
“We must act and we must act now, we cannot have another day like yesterday.” -Obama
WTF? Oh...I guess Paulsen and Rubin have been talking again.
angel @ 84:
Where's the spam filter when you need it?
Thanks to Nancy Pelosi, Bush is comfortably perpetrating his going-away gift to his corporate buddies on Wall Street.
Heckuva job, Nancy!