No Confidence

The markets have judged Bush on his economic stewardship and found him wanting.

When it comes to his ability to forestall a recession, President Bush appears to be getting a vote of no confidence from the world and domestic financial markets.

You can follow all the latest here, on After massive world-wide sell-offs yesterday — and despite an emergency interest-rate cut by the Federal Reserve — the Dow Jones industrial average dropped more than 450 points in its opening minutes, before starting to recover.
The markets could bounce back today or in the coming weeks, of course, but the pressure is now on the president and it’s not at all clear how he’ll stand up to it.

I suspect he won’t stand up to it very well at all. He and his party are intellectually bankrupt. They have no ideas save more and permanent upper-income tax cuts, which will do nothing to stimulate the economy.

He very likely doesn’t even understand the fundamentals of the economy, much less how to strengthen them. And I doubt that anybody could explain it to him in terms simple for him to grasp.


0 Responses to “No Confidence”

  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s


%d bloggers like this: