From a Lame Duck Administration to a Dead Duck Economy

Photo licensed under Creative Commons by Tim Parkinson

From a Lame Duck Administration to a Dead Duck Economy

Oh boy, here we go again. The economy is crippled but does not appear quite as dead as the duck in Tim Parkinson's image.


In truth, we had hoped for the failure of the Financial Recovery Bill (obtained from c-span.org). Now the legislator's have (with alarming speed) posted, a new bill - click on the hyperlinks to view the new bill. You can read the previous bill by clicking on the link in yesterday's post.

We suspect the main cause of the bill failure was not the dissension among the GOP leaders, so much as the anger felt by the citizens of our country as well as their lack of faith in the leadership - so much brought about by the wars, the attempt at privatizing Social Security, the Attorneys General politically-motivated termination scandal, Abu Ghraib, Guantanamo Bay, warrantless wiretapping, Plamegate and so many other false, out-of-touch moves by the current administration. Not to mention the less-than-apparent fact of having a Financial Emperor created in the guise of the Frankensteinian (to rip off The Daily Show) Henry Paulson. Mr. Paulson has not created a suitable atmosphere of trust in his "imperious" handling of the economy. We almost miss the semi-avuncular, ham-fisted, cloth-eared handling of the economy by John Snow.

This Administration has just done so much to irk its citizens that they can no longer trust their leadership. That, coupled with the fact that the leadership is a lame duck.

But, the truth is we're out of time. We haven't had a chance to read the new bill, barely skimming through the previous one. The mere facts of which made our call for failure only more than premonitory. It became a fact of and in itself.

Will the trillion-dollar loss in the markets of yesterday prevent another grim failure? We're watching and waiting. Truth is, we don't have much hope for the next bill. If only Mr. Buffet hadn't given away so many billions, he might have been able to lend some of the money needed. Then he wouldn't feel so compelled to ask us to fix our dead duck economy.

Our still pleading President - hat in hand - might do better to have Laura Bush do the pleading. Somehow, we think she is the last compelling, compassionate and appealing figure linked to this Administration. Indeed, this could be her siren song to greatness. Give it a try, Mrs. Bush. Behind you we could stand.

With that said, here are the news links:

Financial crisis triggering 'herd mentality,' scientists say

http://www.yahoo.com/s/962401

US shares make recovery

http://news.bbc.co.uk/2/hi/business/7643441.stm

Why did the bill fail?

http://news.bbc.co.uk/2/hi/business/7643199.stm

Where did the votes go?

http://news.bbc.co.uk/2/hi/business/7644259.stm

McCain, Obama push Congress for action

http://www.msnbc.msn.com/id/26955707/

Peston's view: Irish guarantee

http://www.bbc.co.uk/blogs/thereporters/robertpeston/

Citizens at boiling point

http://www.msnbc.msn.com/id/26948627/

World media blame US Congress

http://news.bbc.co.uk/2/hi/in_depth/7644129.stm

Financial crisis shock waves hit municipalities

http://www.msnbc.msn.com/id/26946065/

No bailout, here's Plan B

http://money.cnn.com/2008/09/30/news/economy/plan_b/index.htm?cnn=yes

Asia stocks fall after US failure

http://news.bbc.co.uk/2/hi/business/7643340.stm

1 in 4 chance McCain may not survive 2nd term

http://www.msnbc.msn.com/id/26959868/

Ticker: Post-debate polls not good for McCain

http://www.cnn.com/linkto/ticker.html

Friend turns on Sen. Ted Stevens in corruption trial

http://www.yahoo.com/s/962521

Analysis: Bailout defeat now a political credibility crisis

http://news.yahoo.com/s/time/20080930/us_time/thebailoutdefeatapoliticalcredibilitycrisis;_ylt=AgAs6J49P3KEecGcTBHs2sOs0NUE


Voting begins in US state of Ohio

http://news.bbc.co.uk/2/hi/americas/7643682.stm