Oct 30, 2008

American Economy Shrinks Like ...

... George's. No, not George Bush. The other one, George Constanza from the Seinfeld show.

Returning to the Bush administration, it has done everything during the past 8 years to keep the housing market bubbling - it was the only way to mask its utter economic incompetence.

Now the US economy is halfway to the standard definition of a recession, which is two consecutive quarters of negative growth.

Worried about their place in history, the Bushies probably hoped to keep everything on life support and pass the vegetable to the next presidential team. Now that the bubble has burst and the economy is in an out-of-control downward spiral, here is the solution that the current republican administration came up with: a SOCIALIST purchase of bad assets from private institutions using public money!

Spreading the public wealth among the Wall Street fat cats - way to go, Georgie!

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