Last night, George W. Bush gave a speech in prime time on the state of the economy and the proposed bailout. He used some words that I think are unprecedented:
The government’s top economic experts warn that, without immediate action by Congress, America could slip into a financial panic and a distressing scenario would unfold.
More banks could fail, including some in your community. The stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet. Foreclosures would rise dramatically.
This is some serious impending doom. You would think that we would have people lining up at the banks this morning to withdraw their cash and head for the hills.
Instead, he made almost no impression. Almost none of the shows after the speech or this morning even showed excerpts. He barely got a mention. I think that we finally get it. The guy has no credibility at all with the electorate, the media, the market or the world. This makes me happy.