Thread: Is it a Coincidence

That a month before Bush is leaving the office of US President that the shit has hit the fan and the US economy is about tumble ?

Originally Posted by HungryHeart

That a month before Bush is leaving the office of US President that the shit has hit the fan and the US economy is about tumble ?

Yes, it's a coincidence. The fundamentals of the US economy have been unraveling since the stock market boom of the late 1990's. Economic growth has been based on credit expansion, which finally reached it's outer limits with bizarre and fraudulent financial instruments involving the least credit-worthy borrowers. Added to this is government debt, irresponsibly managed by the worst president in US history. The chickens have finally come home to roost. It was a house of cards that finally toppled when it finally ran out of scams to sustain itself. If it's a conspiracy of some sorts, I'm not sure who benefits and how they would manufacture this crisis, which was ready to unravel on its own. There are some interesting conspiracy theories expressed by people like Naomi Klein on 'disaster capitalism' who say that these crises are encouraged at the top to fundamentally change public policy in their interests, but it's just theory at this point.

I wish someone would tell the financial men in Oz. The $Oz has gone from over 32 Baht not so long ago to 25.29 Baht today and still dropping.

The Australian dollar has shed 23 per cent since reaching a 25-year high of US98.49c in mid-July, and has lost 8.4 per cent of its value in the past week alone.

A quote from Commsec economist Savanth Sebastian today

"Mr Sebastian said the Australian dollar was likely to recover to US78c by December, but then fall to US71c by September 2009.

With the US economy expected to recover, the Australian dollar was tipped to weaken against the US dollar, but firm against the euro."

In America, Congress controls the purse strings, not the president.

Originally Posted by Texpat

In America

To use your tired retort:


You are speaking for all of America? Mexico, Venezuela, Bolivia, Panama etc....?

The timing is just to unlikely for all this shit to be happening on the way out of the United States worst administration.

Conspiracy theories aside.

Originally Posted by Texpat

Yes, the proper term for those living in the United States of America is Americans.

Like the term for France is Europeans? Oh, no. It is French.

Italy? Ah, Italians

Thailand? Not SouthEastAsians?

In case you have not heard, it s called 'The Americas'. Must be tough not to have your own language, culture etc . . . (like we have 'strine )

Kidding, of course. It is odd, however, and as you state correctly it is a historical footnote, that you don't call yourselves USA-ers or the like.

Originally Posted by HungryHeart

The timing is just to unlikely for all this shit to be happening on the way out of the United States worst administration.

Conspiracy theories aside.

it is because this has been the worst administration ever that the crisis exists.

that it has reached this level now is just another example of how gwb is just a mama's boy who doesn't have the balls or intelligence to face up to hard facts and make the necessary decisions. he has made this mess and is leaving it for others to clean up.

so we are stuck with his dirty laundry.

with a new crop of 'leaders' who expound the same tired principles for dealing with it.

good luck to the 'first' world as they slide inexorably into 'third' world status.

^ Simple solutions for simple minds.

Originally Posted by Texpat

^ Simple solutions for simple minds.

What's your solution, Tex? Honestly.

I understand the powers and limitations of the presidency enough to know that placing the blame for the world financial woes at the feet of one man is preposterously naive and a cop-out from any attempt to understand it.

Bundling turds with roses and selling them together as bouquets is a bad idea.
Mark to market indexes, as I understand them, are hosing the banks.
Lax regulation, worldwide, has allowed financial institutions to gamble with money they didn't have.

It's a correction -- long overdue.

^Sounds about right. Unfortunately, the correction is delayed as they try to plunder a quick 700 Billion first.

^The rescue is supposed to be loans, but there are enough pork belly projects in that bill to ding American taxpayers for some time to come.

Originally Posted by panama hat

Originally Posted by Texpat

Yes, the proper term for those living in the United States of America is Americans.

It is odd...that you don't call yourselves USA-ers or the like.

OMG, and you say you studied in the States? You can't be that obtuse.