Comments on: Bush: Wall Street Has "Hangover"

President Makes Unguarded Comment At Houston Fundraiser; Says Economy Must "Sober Up"

[brianbwb-2009]

"...The mortgage crisis was brought on, in large part, by the Community Reinvestment Act under Carter and reaffirmed by Clinton. This act REQUIRED mortgage lenders to fund home putchases for low income applicants. The result was more and more underqualified borrowers, who then went into foreclore." Posted by bullyforhim

That is only a tertiary effect. The crisis was brought on simply because of the decimation of the middle class, jobs were terminated en masse, and shipped to slave labor countries, and domestic employment was replaced by low wage labor from migrant workers, both legal and illegal.

The earning power of the average US citizen is less than 20% of what it was in 1972, thanks to a devaluing dollar. There is no way you can say that this is the fault of "the poor", it is a direct result of the failure of the Reaganesque "trickle down" view of economics, which failed to understand that the rich are just as lazy and opportunistic as the poor, but have much greater access to money which they can corrupt. Even the rich want a "free ride" and the neocons have been more than obliging.

This is evidenced by the fact that even middle class housing, and to a small extent, upper middle class housing, is also falling to bankruptcy and foreclosure.

Your attempt to blame the corruption that has damaged the US economy solely on "the poor" is a disingenuous obfuscation, as it ignores the root cause.

[newsjunky5]

"Wall Street has a hangover"
That''s brilliant economic analysis, Mr. Bush. It won''t be long now until the economy pays off your deficit, as you once explained.

[brianbwb-2009]

For once the liar-in-chief was halfway correct, Wall St.''s unregulated scams came back to bite it.

But that is only a small part of the problem.

Wall St. is only a barometer of the relative value of the shares of stock traded on it, and is not in any real way representative of the US economy as a whole.

The real problems are corruption and greed, that has decimated the middle class, employment opportunities are lost to either "outsourcing" to slave labor countries, of to the use of illegal migrants, also working for near slave wages, pressuring the wages of domestic workers down, in addition to the printing of devaluing currency to cover a "war" that never should have happened, and is based on lies and corruption.

In an effort to avoid the blame for most of the problems, Bush is trying to shift blame to only one form of corruption, and even then his party''s aversion to strong oversight and regulation allowed it to occur.

[rebelscout]

There you go. The moron in chief exposes his stupidity once again. All hail the king!!! Now let us vote for McSame and continue the policy''s of this fool!!!

[randynason]

President Bush, in an unguarded moment, said Wall Street "got drunk and now it''s got a hangover."

Well, a drunk and a hangover are certainly a couple of things that Georgie-boy should know all about and it''s a rather tasteless way for a "world leader" to describe an economic crisis, I think. He should stick to flinging cow-pies, for fun and sport.

[vnveteran72]

This Little Drunken Crackheaded Moron knows what he''s talkin'' about when it comes to getting *****-faced and waking up with a pounding melon and 10 million less brain cells......LMMFAO

[deacon20081]

Posted by walt1944 at 11:24 PM : Jul 22, 2008

People get confused in here. It was Phil Graham aka
Dr Phil, NOT Phil McGraw the Doctor Phil. :-)

[deacon20081]

The first moments form the July 18 event find him speaking almost incoherently in admitting, for once, that his friends in big business had screwed up: "There''s no question about it. Wall Street got drunk ---that''s one of the reasons I asked you to turn off the TV cameras -- it got drunk and now it''s got a hangover.

That Video was on YouTube, it was pulled immediately.
Sensorship or "national security" or "executive privledge" kill it? Interesting

[walt1944-2009]

The Great Emperor Bush II has commented (quietly!) that Wall Street "got drunk and now it has a hangover", in connection with the unstable stock market due, primarily to the "mental recession" of the "whinners" economy.

One wonders if perhaps the Great Emperor has been discussing economics with that great, recently departed of the "Bagdad John McBush" McCain campaign, mind of the economic world, "Doctor Phil" Gramm. After all, it was "Doctor Phil" who had diagnosed that we are all suffering from mental delusions when we drive into a gas station, buy groceries, or see the doctor and are forced to pay "thru the nose" with worthless greenbacks.

It is only natural that the "great" economic minds of "Doctor Phil" and the Great Emperor would now include all those "drunkards" working on Wall Street as well as "dipsy" stockholders who worry about how worthless their paper may get, together with the rest of us "whiners" who have been steadily going broke for the past 6 years!

According to the doctrine of the neocons and "Ferengi" economics, only the wealthy will survive, and you can be sure that both "Doctor Phil" and the Great Emperor Bush II will be among them!!!!

SIG HEIL, BUSH!!!!
sig heil, ABSOLUTELY MORE OF THE SAME, McCain!!!!

[lucasnico]

wonder how many houses in Dallas just went up for sale

[sistatee-2009]

It''s not the economy, George. It''s the twins.

[sistatee-2009]

Hey George! From now on, phone it in from Paraguay!

[azsurferchic]

...advanced liver disease! Good one angryman55, very funny!!

no, we have a hangover from your 8 years in office

[antoniof123]

After four years of Obama we will ALL wish Bush was still in office.

Posted by cbscrash07 at 08:40 PM : Jul 22, 2008

Want to bet if any administration is ever worst then this one it will be the end of the world. Thank goodness he is leaving. I do feel sorry for him because the Republican congress could have put him on a lease and made him move to the middle in 06 now they will suffer the price for their action.

That is one good thing because most of the neo cons that can be reached by the swing voter will be gone after this election.

[Michael Arnold]

Yeah, "W" has lots of experience there.

[Syndicate]

After four years of Obama we will ALL wish Bush was still in office.

[newview08]

When you combine this idiotic statement with the "Americans are a nation of whiners" jab, it''s more certain than ever that a great many of us will never vote for a Republican again.

[smurfcrusher]

He''s the expert...

[sunny63-2009]

Thanks for catching the bummmbling bush at his on game !