WITH all that's been happening in the U.S....the sub-prime credit mess, collapse of Fannie Mae and Freddie Mac, the instability of its insurance industry and near collapse of its major investment houses, plus the continuing debate in the U.S. Congress over the bailout package, I am getting more convinced that the presidential election in November may not happen at all.
Far-fetched ya think?
President George W. Bush is sounding the alarm, issuing veiled threats, and predicting a depression that the U.S. economy may not be able to get out of in a while; he is saying you guys better get with the program and approve the bailout package or you're dead. Unfortunately, congressmen are hemming and hawing over the plan because they know their constituents are against it. Why give money to those stinking greedy CEOs with houses in the Hamptons, when the rest of America can hardly make the next mortgage payment?
I mean, stranger things have happened...the U.S. did go to war and invade Iraq on the wrong information that it had weapons of mass destruction. So there is a precedent for irrational behavior. Bush could very well declare martial law on the pretext of "saving" the economy. He can argue that he is only after the welfare of the public and national security, and that bailout package is the only way to get the economy back on its feet again. After all, the chief executives in the other countries were the ones egging him to put such a plan together. So Bush can say he is not only saving the U.S. but the global economy. He needs this bailout plan in place like yesterday.
Bush and a messianic complex? I wouldn't put it past him.
(Ballot box photo from newmediabytes.com.)