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Bush convinced economy will bounce back
Mexico News.Net
Wednesday 15th October, 2008 (Paula Wolfson)
U.S. President George Bush says he is convinced the American economy will come back, saying his administration has taken extraordinary measures to deal with an extraordinary situation.
The president called his cabinet to the White House for a detailed discussion of the financial crisis.
As the meeting began, he sought again to ease public concerns and calm a volatile market.
He said the actions taken by the government are designed to thaw the credit freeze, and strengthen financial institutions.
"These are extraordinary measures, no question about it," said President Bush. "But they are well thought out, they are necessary and I am confident in the long run this economy will come back."
On Tuesday, the president announced plans for the government to buy up $250 billion in stock in private banks. With members of his cabinet seated around him, Mr. Bush stressed these steps do not amount to federal intervention in the banking sector.
"The liquidity measures being taken are structured such that the government will be a passive investor," he said. "In other words, there will not be government officials sitting on the boards of private companies."
The president spoke shortly before the U.S. stock market opened for the day. Stocks fell sharply, following downward movement in Asia and Europe.
Analysts believe the markets are reflecting concerns that global efforts to rescue the world economy may not be enough to prevent a recession.
Already there are signs in the United States that the credit crunch is having an impact beyond the banking sector. New figures show retail sales declined 1.2 percent in September. That is the biggest monthly drop in three years.
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Comments on this story
Anonymous
10-16-08, 10:05 AM |
With every boom. Bust follows. It’ll take years to recover. Get used to it.
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Hank
10-16-08, 07:35 AM |
Bush convinced economy will bounce back
Yes, and the Iraqi’s will welcome us with open arms as heroes!!! I am sure it will, just like I am sure there will be another Winter (Southern Hemisphere), just not tomorrow though.
Has anyone stopped to think that maybe The US’s most expensive war ever, that has gone on longer than they had planned for, may have just caused the scales to tip and caused the financial chaos we are now seeing???
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Hank
10-16-08, 07:39 AM |
Bush convinced economy will bounce back
Yes, and the Iraqi’s will welcome us with open arms as heroes!!! I am sure it will, just like I am sure there will be another Winter (Southern Hemisphere), just not tomorrow though.
Has anyone stopped to think that maybe The US’s most expensive war ever, that has gone on longer than they had planned for, may have just caused the scales to tip and caused the financial chaos we are now seeing???
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Anonymous
10-16-08, 03:38 AM |
Feel SO Much Better now..
But think that would rather he said the opposite.. maybe like the phantom WMD
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Anonymous
10-16-08, 01:42 AM |
Bush senior coined “a new world order” on sept 11 1991.
A little to much a coincidence in my opinion.
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;) Midnight
10-15-08, 02:53 PM |
Bush convinced economy will bounce back
Todays headlines, “Bush calls for panic."
Does the phrase hostile takeover mean anything to anyone?
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Anonymous
10-15-08, 05:55 PM |
You can do better than that.
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Anonymous
10-15-08, 06:36 PM |
Trust is the issue.. CEO's have brocken Trust
While The CEO’s and DIrector’s of corporate america can do as they will without any responsibility or care.. WHY WASTE MONEY ON THE AMERICAN STOCK EXCHANGE? Directors have been sucking the bank accounts dry and now they can go and suck their thumbs.
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Anonymous
10-15-08, 06:55 PM |
Yes he is
Bush would be confident as the elite government have been planning this for years and years. they know exactly what they are doing. The objective has always been to create a one world government or 'new world order(nwo)' as they have coined it since the late '80’s, by purposfully crashing the economy and creating a new one. Do a google search on NWO and see what distasteful truths you find. They are already on to chemical and biological warfare in australia and the world - (search 'chemtrails’and 'Morgellans disease') and they are in the process of microchipping everyone on the planet. This is not a theory but it is a conspiracy. WAKE UP
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kevinator815
10-15-08, 07:59 PM |
yeah right!@
Hope the economy goes back to normal.
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` ~galljdaj+
10-15-08, 04:42 PM |
R Crumb has more...
... , especially more with women,than the lil bush.
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waltky
10-15-08, 07:40 PM |
No doubt he is right in the long run...
... the question is...
... When??
:confused:
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