Posted on 10/11/2008 8:50:55 AM PDT by BGHater
World leaders are coming together to take decisive action to help a faltering world economy rocked by a credit crisis and unnerved by plunging global stock markets, accoring to President Bush.
In a Rose Garden address shortly before 8 a.m., Bush pledged that the economy would emerge stronger as a result of the actions taken by G7 nations.
“I'm confident the world's major economies can overcome the challenges we face,” said Bush, backed by Treasury Sectretary Henry Paulson and other G7 finance ministers. “We're in this together. We'll come through this together.”
He said the G7 nations had agreed to a plan of action that would help “systemically important financial institutions and prevent their failure.” He also said countries had agreed to provide “robust protection” for bank deposits and were taking steps to ensure capitol could be raised.
“There have been moments of crisis in the past whens powerful nations turned their energies against each other or sought to wall themselves off from the world. This time is different,” Bush said.
Bush also went through the steps Washington has taken to try to calm markets and provide liquidity to the economy, including the $700 billion bailout bill approved by Congress and signed by Bush just more than a week ago.
“These extraordinary efforts are being implemented as quickly and as effectively as possible,” Bush said. “The benefits will not be realized overnight. But as these actions take effect they will help restore stability to our markets and confidence to our financial institutions.”
The speech comes hours after Paulson announced the government would use a portion of the $700 billion to buy equity in financial institutions in order to inject them with cash. Treasury initially had resisted this move, but apparently shifted in response to the markets that have continued to fall since the bailout was approved. Great Britain announced a similar plan this week.
Bush mentioned the purchase of equity as one of the steps the government was taking. He also said G7 leaders would work in cooperation with large developing countries. Finance ministers from around the world are in Washington this weekend for annual meetings of the World Bank and International Monetary Fund.
Behind the scenes, the Bush administration is trying to keep industry leaders and senior members of Congress apprised of its efforts to stabilize the markets and implement the $700-billion financial bailout package enacted this month. The administration convened a conference call Friday afternoon to update lobbyists on the market volatility and the state of the economy, but no new policy initiatives were discussed, according to one participant on the call.
In his weekly radio address on Friday, Bush moved to calm jittery investors after the worst week in the 112-year history of the Dow Jones industrial average.
Bush said the Dow's 22-percent drop over the last eight trading days was "startling," citing "uncertainty" and "fear" as the driving forces behind the steep decline.
Bush said the government is moving on multiple fronts, citing the Federal Reserve's decision this week to cut interest rates, a new program to boost the commercial-paper market, an increase in government-backed insurance for checking and savings accounts, a Securities and Exchange Commission initiative to crack down on manipulation of the stock market and a plan to slow down the rate of home foreclosures.
"In the short term, we'll continue to face challenges," Bush said. "But in the long run, Americans have reason to be confident. We have the strongest and most resilient economy in the world."
Bush said the department would implement the new law to have "maximum impact as quickly as possible."
"Seven hundred billion dollars is a significant amount of money," Bush said, "and as we act, we will do it in an effective way."
It's not just the extreme right who are in on it...there are three legs to the beast....Communism, Islamic extremism and Freedom. As is proved by history...if Communism teams up with Islamics...Islamics defeat them in the end. If Communism teams up with Freedom...Freedom is defeated in the end without a blood bath. It has played over and over on the world stage.
Always remember the equation... A liberal Commie and an Islamic extremist together on a Freeman = Islamic extremist rule.
He means, the New World Order is finally coming together.
Now he can leave the white house knowing he accomplished his Daddy’s goal.
Kumbaya.
What if the major players view radical Islam as an obstacle to this one world govt?? Do you think they want to play ball in this world?
Except the communists have teamed up with the capitalists and have given America over to corporate communism.
A Chinese commie and a republican president equals corporate communist rule. That’s why Paulson was calling for a ‘collective’ response to the ‘crisis’ yesterday, if you heard him speak.
My parents taught me that Satan would not show himself as an ugly, scary demon - but as an nice, trustworthy “friend”. Satan knows we wouldn’t fall for someone with all his warts exposed, he knows we would fall for someone presenting himself as a conservative Christian man of God, like Bush did. Eve wouldn’t have eaten the apple if it had been rotten and full of worms - it was the most beautiful fruit in the garden.
They all see each other as obstacles to their global plans...Islamics have a plan for one world as well. Us peons just get to be used as pons in one of the three legs of the beast.
The Trilateral Commission is a private organization, established to foster closer cooperation between America, Europe and Japan. It was founded in July 1973, at the initiative of David Rockefeller; who was Chairman of the Council on Foreign Relations at that time. The Trilateral Commission is widely seen as a counterpart to the Council on Foreign Relations. He pushed the idea of including Japan at the Bilderberg meetings he was attending but was rebuffed. Along with Zbigniew Brzezinski and a few other people, including individuals from the Brookings Institution, Council on Foreign Relations [CFR] and the Ford Foundation, he convened initial meetings out of which grew the Trilateral organization.
Members:
Jimmy Carter
George H. W. Bush
John B. Anderson
Alan Greenspan
Paul Volcker
Bruce Babbit
Zbigniew Brzezinski
Dick Cheney
Warrne Christopher
Hank Cisneros
Bill Clinton
William Cohen
John Danforth
Lawrence Eagleburger
Diane Feinstein
The list goes on and on. if you look it up on Wikipedia. All who warned against this kept getting shot down as 'area 51' nuts and kooks. But, it seems that they could see the writing on the wall just like the prophet Daniel.
So now if you remember the equations...what happens next is that the Commies take over America (freedom is defeated) and the Islamics come in and scoop up the spoils....
The only way out at this point is horrific unless we can defeat Communism before it completely takes over. It's roots were planted decades ago and it's robots are now in power.
Yuri Bezmenov on the liberal enablers,
“He will refuse to believe [the Communist plan for America] until he gets a kick in his fat bottom....[There will be ] psychological shock at what the beautiful [social justice] society will mean...they will become dissidents...they will be shot like cockroaches...nobody is going to pay them for their beautiful noble ideas...”
Tower of Babel part 2.
(Babel is associated with Babylon which in scripture is always associated with rebellion against God and prideful arrogance in not turning to HIM but rather leaning on Man’s wisdom-which is foolishness in the sight of God.)
The scent of vaseline is heavy in the air.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Vote Ben Dover into office!
I wonder how Pooty likes not being part of this clam bake? Maybe there will be discussions about Russia.
Who is missing from that photo?
Terrifying, isn't it? Who would have thought that the man who stood up on 9/11 could turn into the lame duck president who did absolutely nothing productive during his last four years in office?
If I had a tinfoil hat, I'd swear someone has something on him and is pulling his strings like a puppeteer.
I KNOW this is not Barbara's son.
Bush has done more damage to this party than all the MSM combined.
The man is clueless. Simply the worst thing to ever have happened to the Conservative movement.
I gotta agree with you. Given our capacity for "getting it wrong," I looked forward to a new world order like I do a root canal. While it will certainly begin with the best of intentions, how long before it transmogrifies into an impersonal, cruel bureaucracy that finally exists primarily to expand and maintain itself?
There is nothing new under the sun. Those who do not know history are doomed to repeat it.
No real prophet was ever welcomed in his own time. (sigh)
Careful. You'll be accused of Bush Derangement Syndrome for speaking the truth.
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