As Bush exits – he just makes sure that people REALLY know he’s an idiot!
You have to watch this video. I did and I was a little bit taken aback – shouldn’t Bush have done something about the US economy a age ago – you know, while he was in office long enough to actually do something constructive?
US President George W Bush has admitted the financial system needs reforming, but insists the credit crunch was not a failure of the free-market system.
No it wasn’t – it was the stewardship of you, you idiot!
Speaking in New York, Mr Bush said that while financial markets did need some(?) new regulation and more transparency, free trade should not be restricted.
Has anyone told this guy where the $700Bn is? Where it is being spent? The answer to that is no, by the way.
Half of it is already in the hands of Paulson – what he is doing with it no body know because he won’t tell anyone.
Speaking at a ceremony in Paris, Mr Sarkozy said times had changed since the Bretton Woods conference after World War II laid the foundations of modern financial institutions.
“What was true in 1945 can no longer be true today,” he said.
He’s French – and talking sense!
Look – it may not be the time right now to really have a go at the US – it wasn’t all their fault – 90% yes, but not all. Over the last eight years there has been speculation that the US should not be ‘in charge’ of the world economy. Especially when you have the possibility of Bush’s and Palin’s in the White House. The world has changed – and the way of the free market has spoken to one extent, and that is to say that you cannot have all your eggs in one basket. The world will look at another way to regulate, basically because the US won’t regulate – and if the whole economies of the world have to be tied to the US, then it is, surely time, to think how much economic power the US has.
The EU – you can bet on this – are already thinking this way. They cannot be economically governed from outside the EU border. The UK will have to re-think its position as well.
The EU is very strong – all the developed world knows that – but how, in a world-wide crisis can that be? Basically put it is because the EU economies are managed and regulated a very different way to the US – and it works.
The US has brought about this dramatic downturn – and the world has to help her get out of it – but while you have people who are not accountable and invisible to any scrutiny, you have to ask why.
You will see the banks lending again once the DOW hits 8000k – and that will be the beginning of the upturn – but it is going to be a long road to travel.