The Bush Recession is Here in Time For Christmas
Well it looks like bogus Federal Reserve scams intended to prop up the DJIA don’t have the magic power that they used to. (As if proping up the DJIA was a valid goal inthe first place.)
So….
It’s official. Morgan Stanley has issued a “full US recession” alert.
Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investment and a “perfect storm” for consumers as the housing slump spreads.
In a report “Recession Coming” released today, the bank’s US team said the credit crunch had started to inflict serious damage on US companies. – Via Kos
What they are trying to prop up is the buying power of the US consumer… it is pretty dire.
I fully expect Bush to propose tax cuts to deal with the emerging crisis to get Republicans through the elections. Temporary tax credits for the middle class, conditioned on making the prior tax cuts for the rich permanent. And I expect the Dems will capitulate.
A sad way to run economic policy. Chasing votes for Republicans by putting us ever deeper into debt.
Where is the conservative outrage?
Oh yeah…you said “tax cut.”