The Hard Sell continued with repeated suggestions that we "Stay The Course". Time will prove that the President and His Men, were right in following their bellicose track. We must stay on this course, no equivocations. No doubt about it.
The High Pressure Sales Techniques continued with one issue turning into another. Still, the Sense of Urgency was always stressed. Act now, or else!
- The Iraq Study Group;
- The Petraeus Report;
Then, last year the fruits of this hell-bent, haphazard lust for control began to reflect itself in the nation's economy. When President Bush was question during one of those "press conferences", he responded: The Economy is fine, and in good shape.
The Economy took a turn for the worse when major firms and corporations began to go bankrupt:
- Global Crossing Ltd.
- WorldCom Inc.
- Conseco Inc.
- Nationwide
- Bear Stearns
- IndiMac Bank
- Lehman Brothers Holdings Inc.
- Washington Mutual
- Fannie Mae
- Freddie Mac
Here's a list of Banks that went bankrupt during the Financial Crisis:
http://en.wikipedia.org/wiki/List_of_bankrupt_or_acquired_banks_during_the_subprime_mortgage_crisis
The Sub-Prime Mortgage Crisis hit the public where it hurts, in the pockets.
Suddenly, it was stressed that it was urgent to approve a Bail-Out Extravaganza, ranging from $700 Billion, to the actual $850 Billion that was finally approved. $850,000,000,000 Dollars that the American Tax-Payers have to pay (back) the Federal Reserve with interest*.
This was imperative; Bush remarked or else the Economy would crash. What a reversal of opinions in a matter of months. What was he thinking? The Hard Sell is "ratcheted-up a few notches", to include: Riots and unrest if the 'neat' bail-out package wasn't approved.
Henry Paulson of the Treasury Department, and Ben Bernanke of the FED (Not Federal, and has no reserves), stepped into the mix to add their professional expertise. They also called for immediate approval of a corporate infusion of cash. More, more, more money.
If credit got us into this mess; How can borrowing money that we don't have, and "doesn't exist, remedy the situation". There will be hades to pay!
The most recent clamor is for bailing-out the Big Boys: GM, Ford, and Chrysler (formerly known as Daimler-Chrysler). Bail out the Sales Force (Car Sales) with the Hard Sell of cantankerous vehicles that have become less economical in spite of the 1973 Oil Embargo. What have they done for the last 35 years? Grown fat and rich? Forgotten the days of rationing gas, odd and even days? Yet, they build their escapist SUV's for a clientele that has lost touch and fallen asleep at the wheel mesmerized by the Hard Sell.
The Selling Continues!
Are you going to continue buying this delusion of prosperity, when a collapse and the bill collectors are around the bend.
When will it end January 20, 2009? I doubt it: I see a pattern here.
