Economic Downturn

Hey,.... What up? That header should give me enough lateral room to move on this note. Let's get to it.

As the first major bank fails, the President addresses the "Economic Club of New York" and states the American economy is "strong" And "resilient". The President brushes off the mortgage crisis as "the market adjusting" and disagrees with any federal plans to bail out those whom were "speculating", and homeowners "whom shouldn't have been granted loans in the first place".

As The President reads his speech, whenever he throws a line of bullshit on his listeners, he cannot conceal that little smirk of his. The President confidently reassures his audience the "Stimulus" package hasn't started yet, but well in May, and then the economy will pick up. It's purpose, in his words:

"Secondly, the package will provide tax rebates to more than 130 million households. And the purpose is to boost consumer spending. The purpose is to try to offset the loss of wealth if the value of your home has gone down. The purpose is to buoy the consumer. "

Anybody lose three hundred dollars on Property value the last two years? No ,...really.Throw a starving man a bone.

Take your three hundred dollars to Wal-Mart and buy something, Sacramento, It will help to offset the 30-40% property loss the area has taken in two years: $30,000 per $100,000. At least the President got the 3 right. In other words "Are you kidding?"

Let your confidence be buoyed: Let's head over to Chevron for a four dollar gallon of gas. Afterwards we can go to Starbucks for a three dollar cup of coffee. Everything is O.K. Nothing to worry about.

... What the President wants to do is make everybody feel better until he's out of office and the theft

complete.

Billions and Billions and Billions. Wars to Save the World. Enron. Blackwater. The Mortgage Meltdown. Democracy for Iraq. ( Democracy for Viet Nam was the cry in that era). The Katrina Response. The Florida Election Scandal. It started bad, it's not over, it won't be for a long time, it'll be worse, But it's not the prez's fault:

"And I want to spend a little time talking about that, but I want to remind you, this is not the first time since I've been the President that we have faced economic challenges. We inherited a recession. And then there was the attacks of September the 11th, 2001, which many of you saw firsthand, and you know full well how that affected our economy. And then we had corporate scandals. And I made the difficult decisions to confront the terrorists and extremists in two major fronts, Afghanistan and Iraq. And then we had devastating natural disasters. And the interesting thing, every time, this economy has bounced back better and stronger than before".

See, it's not his fault, and "....the interesting thing, every time, this economy has bounced back better and stronger than before".

Which brings us to today, and wait, since those aforementioned pitfalls have already occured........ this must be "better and stronger than before".

Which brings us to the X factor. View the X as a graph. The left top is where the dollar starts. The left bottom where oil prices start. See, where the lines of the X go as the graph moves right. The X factor.

Which brings us to the end of the world as we know it. Nothing new, the world is constantly changing, as is our knowledge and understanding of it. We have nothing to fear but fear itself, and this economy has bounced back better and stronger than before, every time. And the interesting thing; If that were true than Today would not be Today, and bank failure, oil prices and the falling dollar would not be news. What's the opinion from Berkeley? London? Love Pa