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I'd like to know if there is another economy in the U.S. that Bush could be referring to? Let's see... we're flirting with $100 a barrell oil, the mortgage industry is in a meltdown, the national debt is now over $9 trillion, the trade deficit is over $300 billion, we're at record levels of debt, we're in a credit crisis, banks are beginning to break, wages are stagnant, real inflation is at about 18% per year, strikes and bankruptcies are on the rise, unemployment is going up and for most families, it takes 2 incomes to just get by... yep... everything is just rosy. Unbelievable. Bush is playing the violin as the Titanic is slowly sinking... these guys in Washington are something else. 
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Tell me if I’m crazy, I admit I’m not a financial whiz by any account, but about a week ago Pitch injected an article that mentioned the Chinese government purchased 10% interest in the Morgan Stanley—the American bank loosing a lot of money. Anyway is it feasible that the Chinese can buy up the rest of these failing American banks the result of which is the American people who have mortgages with these failed banks now owe it the Chinese government and if they cannot make the mortgage payments then the Chinese can some way round up the dead beats and force them to work it off in debtors prison, maybe located in China. Could American families be forced to travel to China to become their slaves? Am I way out on a limb here?LoveChrist wrote:Not long... With India refusing the dollar, I am wondering how long it will be before other nations follow.
Too much of that, and China will trade dollars for American Assets to try to cut their loses. (Doing this already really)
China can just buy most of the nation.
“Today, America would be outraged if U.N. troops entered Los Angeles to restore order. Tomorrow they will be grateful! This is especially true if they were told that there were an outside threat from beyond, whether real or promulgated, that threatened our very existence. It is then that all peoples of the world will plead to deliver them from this evil. The one thing every man fears is the unknown. When presented with this scenario, individual rights will be willingly relinquished for the guarantee of their well-being grated to them by the World Government.” Dr. Henry Kissinger, Bilderberger Conference, Evians, France, 1991SwissMrs&Pitchfire wrote:Then when the IMF/World Bank/UN came in, we would beg them to save us just like the Globalists have said (Kissinger etc...).
That will be the mother of all bail-outs.
I actually think that it is coming soon to a neighborhood near you.
and then read this one:President Bush said Friday...Bush Says Markets 'Strong and Solid'
Bears beware. The New Deal of 2008 is in the works. The US Treasury is about to shower households with rebate cheques to head off a full-blown slump, and save the Bush presidency. On Friday, Mr Bush convened the so-called Plunge Protection Team for its first known meeting in the Oval Office. The black arts unit - officially the President's Working Group on Financial Markets - was created after the 1987 crash.
It appears to have powers to support the markets in a crisis with a host of instruments, mostly by through buying futures contracts on the stock indexes (DOW, S&P 500, NASDAQ and Russell) and key credit levers. And it has the means to fry "short" traders in the hottest of oils.
The team is led by Treasury chief Hank Paulson, ex-Goldman Sachs, a man with a nose for market psychology, and includes Fed chairman Ben Bernanke and the key exchange regulators.
Judging by a well-briefed report in the Washington Post, a mood of deep alarm has taken hold in the upper echelons of the administration. "What everyone's looking at is what is the fastest way to get money out there," said a Bush aide.
Emergency measures are now clearly on the agenda, apparently consisting of a mix of tax cuts for businesses and bungs for consumers. Fiscal action all too appropriate, regrettably.