Suckers’ Rally on Wallstreet
The price of oil will shoot back up and subprime crisis will cost a lot more than $25 billion.
by James Buchanan
The latest Big Lie from the Bush regime is that the bail out of Freddie Mac and Fannie Mae won’t cost the $300 billion originally authorized by the US Senate ten days ago, but will only cost a modest $25 billion. This dubious announcement -along with a sudden drop in oil prices- has caused a 638 point rally on Wall Street. Funny how the price of oil suddenly plunged just in time to save the stock market. It’s almost as if Big Oil jacks up the price as high as possible most of the time and only drops the price a little if the bottom is starting to fall out of the economy. If Teddy Roosevelt were still alive and acting as president (instead of the dim-witted stooge George W. Bush), the Big Oil Companies would be under investigation for behaving like a monopoly.
The Bush regime has a “sure fire” response to any disaster that takes place on their watch. They lie about it. The quagmire in Iraq was “necessary” if you listen to the various neocon spokes-holes. The “surge” has been a “great success” even though we still have an extra 10,000 “surged” troops still in Iraq and even though we’re still suffering dozens of casualties every month as the rebel forces launch increasingly sophisticated attacks. I strongly suspect any drop in casualties is NOT due to the surge, but due to the fact that the Republicans are almost certain to lose in 2008. The Iraqi rebels have effectively won and don’t NEED to fight as much anymore since US troops will likely leave by 2010 (if Obama can be taken at his word).
The neocons also told us the huge failure at Katrina was not the fault of Bush and the federal government even though flood control is the job of the (federal) Army Corps of Engineers. Oh no, Karl Rove, various neocon talk show hacks and Internet trolls fooled millions of Americans into thinking that the Katrina disaster was the fault of the mayor of New Orleans and Governor of Louisiana even though they had no role or responsibility for flood control while President Bush had all the responsibility for building levees. Why let facts get in the way of a good propaganda campaign that shifts the blame on your enemies? (more…)