European Pessimism Over U.S. Economic Outlook Just Proves They "Get It" When Bush Just Makes It Much Worse

Perhaps Bill O'Reilly can declare war on France again while Bush, our brain trust, changes the name of French fries again. Won't matter though: Europeans are RIGHT.

So what do the Europeans know that Bush doesn't? (Besides American and world history, how to speak English, that tax cuts to billionaires don't cure everything, etc.)

Just as about every intelligent voice in the U.S. already says, Europe knows that Bush's latest round of tax cuts for the wealthiest, which did nothing to spur the economy after 9-11 and beyond, Bush wants will NOT do anything to stop the Bush economy's record-breaking race to yet crippling economic recession. European economic pessimism today, in fact, is hurting investors and futures markets, to name but a few. At the same time, Fed chief Ben Bernanke is expected to cut interest rates yet again which sounds great until you listen to a number of other analysts that predict unchecked inflation and other issues arising from the Bush Administration always-does-the-wrong-thing handling of the economy will bring far more DIRE times rather than relief.

Consider, too, that Bush's latest horrible plan comes right on the heels of introducing "owner foreclosure help" that would allow Countrywide (the nation's largest mortgage bank) to keep from filing bankruptcy and give its buyer (Bank of America), a quarter billion in additional tax write-offs every year for a long time while (magically) doing just about NOTHING for middle class (and lesser) homeowners about to lose their homes.

As Bush has said a number of times, he doesn't understand poor people.

Or:

* smart people
* reasonable people
* people who tell the truth (Bush has never been in the same zip code with the truth in his life)
* people who really ARE patriotic vs. just his lackeys

The list could go on forever, y'know.

RIP: The American Dollar (Or Why You May Be Able to Use Your Paycheck to Wipe Your Butt RSN)

Well, the ruination of the economy and the labor market the Bush-Cheney Administration worked very hard to bring about in record time between the December day they stole the election from Al Gore in 2000 and the first 100 days of them "presuming" office in January 2001, and continued throughout their absolute monarchy is almost complete.

We've already seen - for the first time - economists in many other lands besides our own say the American dollar is increasingly useless and is shunned compared to many other emerging players like China and yes, even Iran and the Euro. Also a firstie: the Canadian dollar has become (significantly) more valuable than its U.S. counterpart, a phenomenon many said would never happen. We've seen the middle class grow poor and more home foreclosures in this country than at any time since the stock market crash and resulting economic phenom known as "The Great Depression" began in 1929. [As Bush would say, look at the good side: at least poverty is up and those we owe money TO are making huge additional money in obscene charges for debt).

Now, many are saying flat out that the dollar's days are numbered, which means ours as an economic superpower also are numbered. I can't help but think that it's all too apt to say that the buck stops with Bush and Cheney, because it quite literally may, even before they leave office on January 20th, 2009.

Here's one example of the dollar's funeral dirge submitted by Reader Sharon (whose typing is only slightly better than her marksmanship).

Homelessness And Vets: More Than Just A Crying Shame

With a new study out that shows that American veterans account for 25% of the country's homeless comes two questions that are far more than academic:

1) What do we do to our soldiers that they end up this way?
2) Why are so many Americans now homeless - and many of them are homeless WHILE working more than one job because housing here is so expensive - and why are we allowing the numbers to soar higher each and every day?

Other stats show that we have NEVER seen an epidemic of homelessness like this among people WHO WORK, who pay taxes. So why under Bush has this flourished?

Well, I know the answer to that.

Putting A Face On The American Home Foreclosure Crisis

As some of you kindly noticed, I've been absent a great deal lately (although I believe the situation is now corrected... especially once my DSL begins to work). Although I really hate airing dirty laundry in public, I feel obligated to tell you a bit of why I've been missing, since it ties directly into a very serious situation here in America: a record of primary home foreclosures that now EXCEEDS that of the Great Depression that began in 1929.

I am one of 1.6 million home mostly middle class home owners whose home was foreclosed upon. Obviously, my financial problems were a big part of it; like many, my principal income post September 11th nose-dived and (also a sad norm with foreclosures and bankruptcies) a catastrophic illness in 2003 left me unable to work the 20 hours a day, 7 days a week I had for many years. By 2005, every effort I engaged in to secure my home went boom.

Though financial advisors always say to contact your mortgage company, lay out the case, and work with them to find a solution, my mortgage holder - the largest in the U.S. - never returned my calls. In fact, in the 7 years I had a mortgage with them, I never managed to speak to one single human being. When I tried to sell the home (tough in a bad market), the mortgage holder fought that, too, going to court to prevent me from doing so.

Sadly, my case is becoming the norm. Millions and millions of homes have been taken back since Bush took office (the "ownership" society he talked about really only meant the banks owning us), and though 1.6 million have been lost this year alone, some figures cite that at least 20 million other home owners are in serious danger of bankruptcy/foreclosure in the next year. Millions more are at risk of losing homes within the next two years. (More than half of all bankruptcies in the U.S. have as their initial factor medical bills - but, of course, universal health care isn't needed by anyone except Congress for themselves. ::cough::choke::

This crisis does NOT just affect the home owners. Mortgage companies have no reason these days to work with home owners because the federal government gives them a wonderful out: all the laws are written to their favor AND the Federal National Mortage Association (aka Fannie Mae) comes in and buys these foreclosed homes with our tax dollars to save the mortgage holders. Since homes aren't selling, this is only going to worsen... and get much worse if we continue to have someone like Bush (aka Giuliani, Thompson, etc.) in the White House and running Congress.

Massachusetts is talking about trying to intercede to provide some kind of bridge between distressed home owners and their mortgage holders to try to help people stay in their homes and save tax dollars being lost to "help" mortgage companies when it's American families who need the assistance.

I'm not asking for sympathy here, but to help put a face on this crisis. So many of my friends have been totally perplexed how someone like me, hardworking and frugal, could be caught. The answer is, this can happen to anyone. And does.