President Bush, while considered by many to be a lame duck, is not fading from the face of politics. The President has been very busy in the last few days. On Monday he welcomed Italian Prime Minister Berlusconi to tour the United States. Italy has been one of the more committed European nations in the War on Terror. Bush took an interesting approach to instill confidence into the Economy. On Wednesday Bush had two meeting to deal with he financial crisis. The first was with his cabinet which included the presence of Secretary Paulson. The President acknowledged that extraordinary action had been taken in order to resolve what he deemed "an extraordinary situation". After seeking the advice of his cabinet Bush addressed the people of Ada, Michigan. Staying true to the average American attitude which arguably got him elected, met with the people in a local deli. He responded to questions posed and attempted to instill faith of average Americans that the economy will fully recover. Bush has had some fun recently however. On Tuesday afternoon he invited the Detroit Red Wings to a celebration in honor of their Stanley Cup victory last season.
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3 comments:
If recession is a self fulfilling prophecy and perceived panic makes it more so then what is the Bush administration doing? Every person senses the tension and the desperation in the Bush administration concerning the financial system. Confidence whether there or not should be the atmosphere around the bailout plans. This is a great proposal and a quick read you might find interesting on the bailout www.cato.org/pub_display.php?pub_id=9718
An interesting proposal indeed. Well worth a read.
I agree that it is a great proposal and that the "crisis" is 90% perception, as that's what truly drives the stock market. In the words of FDR, "The only thing we have to fear, is fear itself."
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