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U.S. recession: A classic 12-act tragedy
Market Watch ^ | March 4, 2008 | Paul B. Farrell

Posted on 03/09/2008 2:43:35 PM PDT by fweingart

ARROYO GRANDE, Calif. (MarketWatch) -- The buck stops here: This is Bush's recession, his legacy.

It could be a chapter in a future edition of Jacob Weisberg's "The Bush Tragedy," with new comparisons to "Henry V" and other great Shakespearean tragedies. In a few sentences, the opening lines could highlight why this is now Bush's recession, and his alone.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; Editorial; Government; Politics/Elections
KEYWORDS: 110th; antibushrant; economy; pelosi; recession; soros; ubelongtodu; wrongmessagenboard
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To: kcar

The Republicans have never “controlled virtually the whole works”. Even when they had the majorities,they let the Democrats control the agenda.

And with ‘America Causes GoreBull Warming’ true believers like John McCain (who has an R next to his name) brokering deals to further dilute the Republican’s numerical and common sense superiority, of course things are going to get bad.

And they are going to get worse no matter which one of the three currently running bozos they elect.

(I actually agree with your conclusions, just take issue with the semantics ;-)


41 posted on 03/09/2008 3:19:56 PM PDT by LegendHasIt (Noone/Nohow '08)
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To: fweingart

This is Bush’s recession, his legacy.

you can use the article for fishwrap after getting this far.

Only a democrat would call this 16 quarter economic boom a potential recession.
Utter nonsense.


42 posted on 03/09/2008 3:22:11 PM PDT by bill1952 (I will vote for McCain if he resigns his Senate seat before this election.)
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To: bill1952

Economic boom for who? China?


43 posted on 03/09/2008 3:24:44 PM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: mylife

>we are in a recession.

No, we are not.

>Well perhaps not technically.

Not any way.

>We are in a bind. we need more cheap energy and we arent using what we have.

Gee, thats new. /s

>Bought food lately?
No, we stopped eating about 15 years ago...


44 posted on 03/09/2008 3:24:49 PM PDT by bill1952 (I will vote for McCain if he resigns his Senate seat before this election.)
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To: count-your-change
With a few words Bush could’ve saved us all.

Friggin' RIGHT he could've. I CAN'T know if it's a reluctance to do so or he just doesn't have the convictions, but Bush could've used the Bully-Pulpit any number of times on any number of issues and never did. He could've invoked "National Security" concerns and signed executive orders opening up ANWR and Off-Shore for drilling and everyplace else for refineries. Let them try and sue him.

He never did ANY of that. Either he felt it'd be ineffective (which I disagree with) or he just doesn't care enough.
45 posted on 03/09/2008 3:24:54 PM PDT by BikerJoe
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To: fweingart

These are the principal catalysts for the recession we are free-falling into

LOL! Another financial wizard.


46 posted on 03/09/2008 3:26:05 PM PDT by bill1952 (I will vote for McCain if he resigns his Senate seat before this election.)
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To: bill1952

You guessed correctly.


47 posted on 03/09/2008 3:27:26 PM PDT by fweingart (Obama-Clinton (A real dream team!))
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To: bill1952

I went to the store the other week and the 89C loaf of generic white bread was $2.45 all due to ethanol and increased energy demand


48 posted on 03/09/2008 3:27:29 PM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: bill1952

Let’s get together at the end of the summer season.


49 posted on 03/09/2008 3:28:22 PM PDT by fweingart (Obama-Clinton (A real dream team!))
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To: ex-snook
"And MONTHLY sending wealth to the tune of some $60,000,000 to the world in endless trade deficits plus another $12,000,000 in endless efforts to install democracy in Iraq is how we got into 'this mess'. We have become the sub-prime borrower."

Not enough zeros. Make that $60,000,000,000 [billion, that is] and $12 billion. That is a lot of moola, folks. No wonder the banks can't find any to lend.

50 posted on 03/09/2008 3:29:07 PM PDT by ex-snook ("Above all things, truth beareth away the victory.")
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To: Clara Lou

LOL....Limited in quantity? That is the funniest thing I have heard in a long time. If you call 20+ BILLION bbls limited, then I guess you are correct.

Why do you think the Russians planted that flag under the North Pole? It is because the Arctic Seas hold VAST undiscovered reserves. We have VAST reserves which we know of, but refuse to tap. We probably have VAST undiscoved reserves off our outer continental shelf, buy we refuse to even allow exploration to define these reserves to take place. The enviro wacko socialist crowd has figured out how to destroy our economy.

The Global Warming fallacy, combined with the Endangered Speicies Act, combined with the push for “Green Collar’ jobs is nothing more than a way to drive our country bankrupt. If Clinton had opened ANWR in 95 we would producing in excess of 1 million BBLs of oil a day right now. If the Chuchki and Beaufort Seas are opened, add another 1 million at least. Throw in the outer Cont Shelf and more of the Gulf of Mexico and you can pop another 3-4 million bbls a day. The oil is there, the will to tap it is what is lacking. We would rather export our financial future to the likes of Saudi Arabia, China, Hugo Chavez and the like.

China opens a new dirty coal plant every 7-10 days, the genocide in Darfur is allowed because China is Sudan’s biggest oil customer. Chinese are fanning out all over Africa to secure their future oil supplies. Brazil just discovered 8 billion to possibly 40 billion BBL superfield off their coast. Everyone in the world is mining and drilling to their absolute capacity but us.. Why do you think that is?

And btw the reserves in Alaska are not poor quality, and Chevron is introducing a new process for refining high su;phur oil which if proven efficient promises to vastly increas our capacity to refine that stuff into gas and other refined products we need.


51 posted on 03/09/2008 3:29:22 PM PDT by milwguy (........)
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To: mylife
>Economic boom for who? China?

You have the economic and financial understanding of a Chinese peasant.

you do not even understand the meaning of the words expansion (boom) and recession let alone the dynamics of capital formation and wealth aggregation.

52 posted on 03/09/2008 3:29:28 PM PDT by bill1952 (I will vote for McCain if he resigns his Senate seat before this election.)
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To: Mogollon
Bush tried to drill in ANWAR a couple of times. The rats in congress voted every attempt to do so down.

Weren't the Republicans the majority in the Senate and Congress in the past 6 years...Not to mention a Republican in the White House...

53 posted on 03/09/2008 3:29:31 PM PDT by dragnet2
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To: fweingart

Do some research on the percentage of GDP that it took to support horse drawn transportation. You are working with a straw man argument.


54 posted on 03/09/2008 3:30:03 PM PDT by Shanty Shaker
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To: fweingart

That reminds me. aren’t we due for the annual summer spike in fuel prices?


55 posted on 03/09/2008 3:30:06 PM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: Clara Lou; fweingart; mylife
It’s my understanding that Alaska oil is high in sulfur and limited in quantity. How would that oil have helped us avoid the present situation?

Well, it would mean that we could transfer more money from taxpayers to private corporations, and mean that we could be sure that in the future, we'll run out before others.

To say the ANWR oil would be the answer is to ignore reality. The latest Iraq War estimates put us at about $1,500,000,000,000 that we've borrowed from China. Heck, the ANWR oil (even at current $100/barrel prices) doesn't come near that!

Until we start acting responsibly, getting our runaway spending under control and not borrowing from the ChiComs to go on expensive foreign adventures, we're gonna have to face rough decisions. The money we borrowed and dumped into Iraq could have paid for years of our foreign oil consumption. Is it any wonder our economy is facing consequences?

56 posted on 03/09/2008 3:30:50 PM PDT by Gondring (I'll give up my right to die when hell freezes over my dead body!)
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To: bill1952

As I said. Technical Quibbling.

We are in a bind


57 posted on 03/09/2008 3:31:13 PM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: JasonC; Toddsterpatriot; Mase; expat_panama; LowCountryJoe
[still laughing at #30]
Hey JasonC, seeing that Pat's not running, do you think this author will suggest the name of the woman who will save us? Or is there another Savior on the horizon?
58 posted on 03/09/2008 3:32:23 PM PDT by 1rudeboy
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To: Shanty Shaker
Do some research on the percentage of GDP that it took to support horse drawn transportation.

Let's do some valuable research.

Let's find out the number of staffers each congressrat had in 1890. Then let's study the manning staff for the White House for that same year.

There's a correlation here, don't you think?

59 posted on 03/09/2008 3:32:40 PM PDT by fweingart (Obama-Clinton (A real dream team!))
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To: mylife
That reminds me. aren’t we due for the annual summer spike in fuel prices?

When it gets to $4.00 a gallon for most of America, it's not going to be pretty. The grip around the neck slowly tightens.

60 posted on 03/09/2008 3:32:48 PM PDT by dragnet2
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