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article imageOp-Ed: President Bush Delivers Blinding Blow to Doom and Gloom Proponents

By Mark L Harvey     Jan 29, 2008 in Politics
In the State of the Union address on Jan 28, President Bush let all of the hot air out of the would-be nay-sayers and the doom and gloom crowd that the vast majority of Americans are sick and tired of hearing. We are better than that.
With all of the ho-hum, childish, disingenuous and belligerent personal attacks on the President of the United States, Chimpy, as fools refer to him as, has the last say.
It is "Rather" interesting that the man which occupies the White House has been called many things but primarily the worse President ever and some have even called him the dumbest man on Earth. It is interesting in that President Bush has beaten the doom and gloomers, the nay-sayers and the name-callers at every turn and on every issue time and again, over and over again. To me, that doesn't say much for the self-vaunted and self-proclaimed "smarter-than-Bush" crowds. Does it? If he is what they claim and he beats the "others" on a regular basis at their own games,who are the dumb ones?
Don't get me wrong here. If he were to run again for a third term, this DAV would not be voting for him...unless Hillary or Obama were the other choices. President Bush is wrong on the No Child Left Behind deal. He is wrong on the Shamnesty deal. And, tonight, he is wrong about the folks that got in over their heads in home loans. If people make their beds, they and they alone should be sleeping in it.
Having said that, there is no recession. There are indeed hints of it but the majority of the financial industry say it is a far piece off. Seeing that I have lived through several horrid economies in the States, the current economy is still booming albeit slowing down some. This is normal.
There can only be so many homes being built and so many loans made for those new homes. Going hog-wild in building new homes with no population present to buy one or move into one cannot be sustained. Common sense reveals this to be true. It all boils down to personal responsibility...a topic of taboo to the modern day liberal. Everything is the fault of someone else and there are no consequences to one's actions. Sad as that may be, there are people in this country that think the government is the answer to all things and this is also simply not true. I would like to see where that statement is in the Constitution of the United States.
SHERYL GAY STOLBERG has a piece up today in the leftist NY Times, the publication that is notorious for informing our enemies what our next moves are about to be, has a back-handed complimentary piece on the GWB economy. In this piece, she says that unfairly, President Bush did not get the credit for the booming economy but when there is a "maybe recession" on the horizon, President Bush all of a sudden gets the full attention of the media and his enemies.
Mr. Bush has spent years presiding over an economic climate of growth that would be the envy of most presidents. Yet much to the consternation of his political advisers, he has had trouble getting credit for it, in large part because Americans were consumed by the war in Iraq.
That kind of puts to bed the fantasy of the BDS driven Bush economy.
During all of 2007 and the last half of 2006, the only topic that mattered was The War; the economy be damned because it was so good. We expected that and dealt with it accordingly as we are dealing with the pretend recession that we aren't in at the moment.
The Iraq War is not an issue because what GWB said about it has come true. The Surge has worked and is still working. We see now that the Iraqi Military has begun their own surge and it too is working. President Bush brought The War back to the forefront during the last half of the SoTU address and rightfully so. He pointed out that last year, people were saying that the war was lost and that pout efforts there would fail. How wrong they were and still are.
My friend lawhawk has this to say: (and yes, he is a lawyer)
Things kicked into overdrive in the past several weeks as the real estate markets have cooled off significantly due to the sub-prime financial crisis (self inflicted by those markets because lenders were busy doling out loans to folks who were completely incapable of paying and those buyers were more than content to get adjustable rate loans without thinking that the interest rates could go up). We've gotten nonstop stories about how the real estate markets are cratering and they ignore the fact that a correction in the real estate markets means that those homes are actually now more affordable to homeowners - especially those who have solid credit and are willing to put down 20% convention mortgages. It's a bad time to be someone engaged in flipping homes or someone who should probably never have been given a home loan in the first place because they wouldn't qualify under tighter rules that are now taking hold in the mortgage industry.
Like we have stated before, the market is in a current restructuring deal on its own accord. It happens and history bears this out time and time again.
On a similar note, the Wall Street Journal has a commentary entitled, The Economy Is Fine (Really), penned by BRIAN WESBURY.
[...] It is hard to imagine any time in history when such rampant pessimism about the economy has existed with so little evidence of serious trouble. [...]
[...] The good news is that the U.S. financial system is not as fragile as many pundits suggest. Nor is the economy showing anything other than normal signs of stress. Assuming a 1.5% annualized growth rate in the fourth quarter, real GDP will have grown by 2.8% in the year ending in December 2007 and 3.2% in the second half during the height of the so-called credit crunch. Initial unemployment claims, a very consistent canary in the coal mine for recessions, are nowhere near a level of concern.
Because all debt rests on a foundation of real economic activity, and the real economy is still resilient, the current red alert about a crashing house of cards looks like another false alarm. Warren Buffett, Wilbur Ross and Bank of America are buying, and there is still $1.1 trillion in corporate cash on the books. The bench of potential buyers on the sidelines is deep and strong. Dow 15,000 looks much more likely than Dow 10,000. Keep the faith and stay invested. It's a wonderful buying opportunity. [...]
So much for that recession and that horrid Bush economy.
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