Protectionist Urge Overtakes Bush Administration...Bullet to Enter Foot Shortly
My worst fears for the stock market are coming true. It looks like a steep uphill battle to maintain the 2003 dividend and capital gain tax cuts and now it looks like the Bush administration is inexplicably going back into protectionist mode. If this is some calculated political plot to help out some vulnerable Sausage Factory Workers or otherwise tee up some loyalty for 2008, then it is DUMB DUMB DUMB. Protectionism will kill the economic momentum of the last few years. I fingered it previously as the biggest threat our economy faces. It is so maddening to see more protectionism come out of the Bush administration. Where is Paulson on this?
Sadly, the Dems want the economy to hit the skids. It will seal their win in 2008 and they don't care if real people suffer real economic pain in the bargain. The economy and the stock market are the Republicans biggest advantage at this point. For Bush to contribute to putting the clamps on the economy with this gambit is ineptitude of the highest order.
Sadly, the Dems want the economy to hit the skids. It will seal their win in 2008 and they don't care if real people suffer real economic pain in the bargain. The economy and the stock market are the Republicans biggest advantage at this point. For Bush to contribute to putting the clamps on the economy with this gambit is ineptitude of the highest order.
posted by Donny Baseball at 12:04 PM
1 Comments:
I don't like this at all. a 2007 - 2008 recession is just what the Dems want. They are working hard on it, and I fear that they are going to get it. I think the Fed is making a mistake holding the yield curve inverted. In addition, Paulson and Bush are making the Fed's job much harder. They are making mistakes on top of mistakes. All the bear needs is a catalyst. If I were the Dems, I would put pressure on Bernanke to raise rates in the name of fighting inflation. I can smell the danger.
Post a Comment
<< Home