So High Above

In a recent interview with ABC, George W. Bush said he was sorry about the Economy. Sorry will hardly fix the economic catastrophe that the Republican George W. Bush Administration and the Republican Congress have caused. Every day the economic news is worse. Thank you George W. Bush and the Republican Party for destroying the hopes and dreams of millions of Americans. The Republican Bush Administration set the tone from the minute that they seized Presidency for a culture of corruption and plunder. They have looted the Treasury, destroyed the foundations of our Nation and have cause economic chaos around the world. The Republican Bush Administration set about to dismantle the laws and regulations that were put in place during the Great Depression to regulate the Banking, Insurance and Securities Industries, whatever laws and regulations that they failed to over turn they ignored. This Administration filled vital regulatory agencies with lobbyists and political contributors that had no

As the Unemployment numbers continue to worsen one must remember that the reported numbers are under reported because of the way the Bush Administration Labor Department changed the way that the unemployed are counted. The reported numbers could be way off because the Bush Labor Department changed the way it counted those that had exhausted their unemployment benefits and did not count those that did not collect unemployment benefits. Who knows how much we would have to add to the reported numbers, even a Conservative approach would mean adding at least 5% to the reported numbers. The worse the unemployment gets the worse every segment of the Economy will become. The Federal Government must now consider a direct stimulus package of aid to the America Family. Without spendable income in the hands of American Families the consumer sector of the Economy will continue to rapidly deteriorate which will cause the mortgage defaults to get worse and the dominoes will fall accordingly to the re

It is hard to see the logic in the Obama Administration picking Senator Clinton to be Secretary of State, other than to remove a possible legislative thorn in their side. During the campaign it seems like the issue that separated Clinton and Obama the most was foreign policy, so it leaves one to wonder why you would appoint someone to execute foreign policy when their view is different that yours. Is the Obama Administration already conceding Foreign Policy, is the appointment of Senator Clinton as Secretary of State a sign that the Obama Administration will put all its efforts into domestic policy and let the Clinton wing of the Democratic Party worry about Foreign Policy? It is a fact that the most attention will demanded by the worsening economic situation and that the Obama Administration is sure to be overwhelmed by domestic problems but it would seem that someone who is going to implement your foreign policy without guidance would be a better choice if you are going to be pre-oc

The Iraqi Oil Minister has said Thank You to the United States in a most unusual way, at a recent OPEC meeting, Iraqi Oil Minister, Hussein al-Shahristani, said that $80 Oil is a reasonable price and that he would support OPEC efforts to cut production and and raise the price of oil. Remember when The Republican Bush Administration and their surrogates were all over the air waves telling us that the Iraq Invasion and occupation would not cost the US anything because Iraq would be able to repay any cost with their oil revenues? Well a couple of Trillion Dollars of American Expenses later we have not seen any attempt to repay the debt that America has incurred in the Iraqi invasion and occupation. While Iraq sits with cost to a $100 Million surplus in their budget and Americans struggle to stay out of poverty, the Iraqi Oil Minister feels that US Citizens should pay more for Iraqi Oil. It sure is a strange way to say "Thank You"

I keep thinking about the story that came out on Saturday citing an interview with his sister in which George W. Bush says that he hopes History sees him as a liberator and a man of peace. It just keeps rolling around in my head, can it be that George is an outright schizophrenic? How could he possibly have such a distorted view of his term as President which was seized twice by false campaigns and legal out maneuvering From the beginning, George W. Bush inherited an economy that was even keel after a prolonged period of growth and a National Surplus with a balanced budget. In his first year adhering to the Republican Economic Platform that he ran on he began to fulfill his misguided D student view of the Economy and push for tax cuts for the wealthy while opposing an increase in the minimum wage. After his tax policy folly George decided that he needed a vacation, so he promptly commenced to being on a semi-permanent vacation and occasionally wondered what was going on at the White Ho

The preliminary sales figure for retail sales on Black Friday were announced at 3% above last year's figure, which is anemic to say the least. How much an an increase in gross sales is really insignificant though, the numbers that matter are the margins. It appears that the increase in gross receipts was a function of deeply discounted prices coupled with advertising blitzes. If retailers are dumping inventory at just above or in some cases below cost the gross sales are not really indicative of the reality of the dismal retail season that is about to happen. Most retailers count on December Sales to turn their books from red to black even in the best of years, however, this year is far below even the worst retail sales in decades so nothing but a record breaking shopping season will be able to accomplish the balance sheet color change, and that is very unlikely to happen. With consumers coming out of a period where energy costs ate away most of the discretionary money that would

The Bush Administration started explaining the current Financial Crisis as one that was caused by the Home Boom going Bust. As usual with the Bush Administration, that could not be further from the truth even if the truth dwelt seven galaxies away from earth. The Bush Administration tried to claim that because 5% of the home mortgages in America were in default the Banking System was collapsing, does anyone believe that if 5% of Mortgages are not being paid while 95% are being paid on time that the 5% would outweigh the 95%? The real problem and the cause of the economic collapse is Credit Default Swaps. The Financial Wizards of Wall Street starting using Credit Default Swaps as a trading hedge which they were never meant to be, and because legislation by Senator Phil "Americans are Whiners" Gramm, and signed by Bill Clinton as part of a larger spending appropriations bill, Credit Default swaps were kept unregulated. The unregulated Credit Default Swaps meant that they were a