I received the following information from my brother last week & thought you might find it interesting:
George Bush has been in office for 7 1/2 years. The first six the economy was fine.
A little over one year ago:
1) Consumer confidence stood at a 2 1/2 year high;
2) Regular gasoline sold for $2.19 a gallon;
3) the unemployment rate was 4.5%.
4) the DOW JONES hit a record high--14,000 +0D
5) American's were buying new cars, taking cruises, vacations o'seas, living large!...
But American's wanted 'CHANGE'! So, in 2006 they voted in a Democratic Congress & yep--we got 'CHANGE' all right.
In the PAST YEAR:
1) Consumer confidence has plummeted ;
2) Gasoline is now over $4 a gallon & climbing!;
3) Unemployment is up to 5% (a 10% increase);
4) Americans have seen their home equity drop by $12 TRILLION DOLLARS & prices still dropping;
5) 1% of American homes are in foreclosure.
6) as I write, THE DOW is probing another low~~11,100--
$2.5 TRILLION DOLLARS HAS EVAPORATED FROM THEIR STOCKS, BONDS & MUTUAL FUNDS INVESTMENT PORTFOLIOS!
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I'm as right wing as they come but you can't blame regular people binging on easy credit on either party. People "lived larged" alright...far larger than their true financial means. When you put off 'til tomorrow...tomorrow eventually shows up. It sounded juvenile but Bush was right...this really is the hangover after the party.
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