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I am now more inclined than ever to believe that the current economic crisis is nothing more than a massive level of incompetence by the Bush administration. Look it is no secret that they have been spending like drunken sailors and they have been encouraging the American public to buy buy buy on credit to try and prop up the economy for as long as possible. It really has been just a house of cards. Out of control spending by Bush, two wars on credit, and a lack of any financial discipline or restraint by the American public. All of us probably know of at least one person who bought an SUV on a home equity line of credit. Buying a depreciating asset with a second mortgage on your home is a recipe for financial disaster. This disaster has been waiting to happen for years now. Credit has been way to loose, we have outsourced everything, and we no longer make anything except war. This is the result of what the smart economists have been talking about for years.I only think Bush miscalculated when the house of cards was going to collapse. Now that it is collapsing they are being forced to do something. Because they have screwed up every disaster it should not surprise anyone that they went into this disaster thinking the best solution would be another power grab. I really don’t believe this was a planned "October surprise". The economy and the stock market are vastly too complicated for anyone in the Bush administration to be able to control and manipulate in any particular direction. I just don't buy the conspiracy theory anymore. The level of sophistication to pull this off is just too great and too complex. It is light-years more complex than any voting machine conspiracy or even the 9/11 conspiracies floating around the internet. No, the current crisis is real and it has been a long time coming. Now we need some exceptionally bright politicians and "educationally elite" to guide us out of this crisis. Thom Hartmann just posted a wonderful article about this. The days of voting for a politician because you think he or she would be a good person to have a beer with are hopefully forever over.
