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"President-elect will have to assemble economic team quickly to tackle weakening economy and bank bailout on Jan. 20"
The strange thing is, there is no such thing as "tackling" the economy. Can anyone guess what drives the msm to write and speak as if a US president can actually change the direction of the economy?
The only time one can actually prove any gov't policy actually affected the economy was when they decided to encourage relaxed lending standards for mortgages. And we all know how wonderfully that worked out! Other than that, our gov't is powerless over the direction of the economy.
They spent $300 billion on last spring's tax stimulus and that did exactly nothing. So why "assemble a team" when it won't be able to do anything? I'll tell you why. It's all an illusion because a large percentage of our population is under the impression the gov't can fix the economy.
Hell, many of our history books will tell you Hoover's and Roosevelt's programs like the WPA actually helped end the depression when the fact is, they prolonged it.
Finally, I'll end with this tidbit from today's news;
"There's room for another 30% fall in the stock market given the forecasts on earnings," said Christian Nenegatti, lead analyst for RGE Monitor, a New York economic research and analysis firm. "It doesn't look like you can be bearish enough in this environment."
Last edited by PatriotsReign; 10-25-2008 at 12:18 AM..
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