President Bush to Address Nation

Bloomberg Television | 10/10/08 | Bloomberg Televison Staff

[DoughtyOne]

Bloomberg television states Bush to address the public later this morning.

Bloomberg states: “Bush to assure the American Public he’s going to do all he can.”

10:25am EDT

[roamer_1]

Uh-oh... BOHICA.

[Man50D]

Congress and Bush should just shut up and let the free market work itself out.

[DoughtyOne]

That’s how I see it too.

Despite that, I appologize to everyone for adding editorial comment near the end of the report.

I thought I had removed all such comments after copying my remarks from a thread.

[trumandogz]

All Bush can do is throw gas on the Wall Street fire.

He is perhaps the lamest duck ever to be exiting the White House.

[Darkwolf377]

Mr. President, are you being paid by the Obama campaign, or do you just do this to stick the knife into McCain for kicks?

[Islander7]

“...Congress and Bush should just shut up and let the free market work itself out...”

I’ve heard several economists on various networks say the same.

[DoughtyOne]

That’s the way I see it too. If we need to have some patience, don’t you think it would be wise for our leaders to show some?

Look, he should do what he can behind the scenes, but statements should be few and exuding confidence, not the perception that we’re really really really in for it, and the trouble will be a long long long time before turning around.

You almost come away thinking the goal isn’t to calm anyone.

[savedbygrace]

Bloomberg television states Bush to address the public later this morning.

Who?

[DoughtyOne]

Thank you Jim.

[crymeariver]

Maybe it’s not about the economy but about the massive voter fraud and ACORN. I wonder if there is some sort of Presidential move he can make to restore faith in the electoral system. Riot protection?

[TigerLikesRooster]

Bush: First of all, I am pleased to inform you that United States and Democratic People's Republic of Korea agreed on the verification framework for their nuclear program. As we promised, I hereby instruct State Dept. to remove N. Korea off the list of state terror sponsors. I am happy to see we are taking the first meaningful step to solving N. Korea's nuclear problem. This is the great day for all of us.

Now we move on to economic matters.........

[DoughtyOne]

With the G7 Summit and Bloomberg’s mention of the topic, I think it’s rather clear what he will be addressing.

[ari-freedom]

Bush:

Just shut up!

Please

[DoughtyOne]

LOL, you really know how to hurt a guy. You'll killing me...

Sadly, I think you were probably a Bush speech writer in another life.

[DoughtyOne]

All those in favor... aye.

[John W]

Aye.

[TigerLikesRooster]

If I met him in my previous lives, I don't seem to remember. I need to go on hypnosis and find out.:-)

[nina0113]

He already DID do something - he and the Congress shoved that useless damned bailout down our throats.

Thank God my representative stood firm.

[CapnJack]

Hopefully he will give his resignation; apologize to all conservatives for betraying them; then leave for Texas where he and his family will never be heard from again.

[DoughtyOne]

I just think you probably nailed it.

[DoughtyOne]

Yes they did. And they may be skewered for all of history, if that goes as far south as you and others think it will.

[MaggieCarta]

Congress and Bush should just shut up and let the free market work itself out.

Agreed.

[trumandogz]

Two weeks ago Bush was pleading that Congress pass the Bail Out and the Bail out had not positive impact on the market.

The people pushing the Bail Out claimed the DOW would drop to 8500 if it did not pass.

It passed and we will hit 8500

[Virginia Ridgerunner]

“Bush to assure the American Public he’s going to do all he can.”

Well, that makes me feel a LOT better after seeing what's happened to my 401K this week.

[ari-freedom]

but... :(

[DoughtyOne]

Oh he’ll be vying with Carter to be the best ex-President ever. Count on it. All we need is one more clueless ex-President.

Perhaps he can sign on to do erands for Obama, like his pappy did for Bubba.

[Amelia]

If he wants to address “the nation” he should do it in the evening instead of when most of us are at work and can’t watch TV. JMHO.

[Son House]

That’s it, Bush did a poor job of explaining the bail-out, and if he does another poor job, it re-enforces this opposition

[ari-freedom]

he wants to address the market before it opens....so it does the most damage :/

[Daffynition]

[DoughtyOne]

I don’t believe a single dollar of that $700 billion has been utilized yet. They had hoped the $700 billion would have been implemented by now. Whose to say it absolutely wouldn’t have helped? I honestly don’t know, even though a lot of others seem to. It took them a full week to get that $700 billion approved.

[ari-freedom]

the money has to come from somewhere: the successful.

[DoughtyOne]

Yes, I know, it’s a 2.5 01(K) now.

I hear ya.

[B-Chan]

When Black Friday comes
I'll stand down by the door
And catch the grey men when they dive from the fourteenth floor

When Black Friday comes
I'll collect everything I'm owed
And before my friends find out
I'll be on the road

When Black Friday falls you know it's got to be
Don't let it fall on me

When Black Friday comes
I'll fly down to Muswellbrook
Gonna strike all the big red words
From my little black book

Gonna do just what I please
Gonna wear no socks and shoes
With nothing to do
but feed all the kangaroos

When Black Friday comes I'll be on that hill
You know I will

When Black Friday comes
I'm gonna dig myself a hole
Gonna lay down in it
'til I satisfy my soul

Gonna let the world pass by me
The Archbishop's gonna sanctify me
And if he don't come across
I'm gonna let it roll

When Black Friday comes
I'm gonna stake my claim
I'll guess I'll change my name

"Black Friday"
(Donald Fagen and Walter Becker)
as performed by STEELY DAN
on the album Katy Lied (1975)

[MaggieCarta]

Look, he should do what he can behind the scenes, but statements should be few and exuding confidence, not the perception that we’re really really really in for it, and the trouble will be a long long long time before turning around.

Yes! Why is he doing this?

[DoughtyOne]

Well, it might be a good idea if for no other reason than to not start another pulverization of the DOW early in the morning.

[DoughtyOne]

True.

[DoughtyOne]

Hey! LOL

[DoughtyOne]

Is there someone who is after this last week? ;-)

[thecabal]

A legacy at any cost. Sadly, I think you are probably right about this...

[Iron Munro]

There goes any hope for a rise in the DOW.

[thecabal]

Screw that, he’s got a big spread in Paraguay to retire to.

[DoughtyOne]

A rather bleak tome to be sure.

[DoughtyOne]

I believe he sees it as his duty to calm and reassure the public. I don’t believe he is aware it could have an opposite effect.

[trumandogz]

My Father In Law is a Trader and a damn good one who has written articles for the WSJ and been on CNBC, Two of his sons also trade and do quite well.

Their view is that the markets are going to crash and all the Bail Out could do was to delay the crash. Well, the market is crashing now and the Bail Out has done nothing and will do nothing except put our children in debt for a Trillion Dollars.

The fact is that the Government cannot prop up markets.

See: Eastern European Socialism in the 20th Century.

[Iron Munro]

If you had purchased $1,000 worth of stock in Delta Airlines one year ago you will have $49.00 today.

If you had purchased $1,000 worth of stock in AIG one year ago, you will have $33.00 today.

If you had purchased $1,000 worth of stock in Lehman Brothers one year ago you will have $0.00 today.

But, if you had purchased $1,000 worth of beer one year ago, drank all the beer,
then turned in the aluminum cans for the recycling refund, you will have $214.00 today.

Based on the above, the best current investment plan is to drink heavily & recycle.

It is called the 401-Keg Plan.

[Bobalu]

[Darkwolf377]

I don’t believe a single dollar of that $700 billion has been utilized yet. They had hoped the $700 billion would have been implemented by now. Whose to say it absolutely wouldn’t have helped? I honestly don’t know, even though a lot of others seem to. It took them a full week to get that $700 billion approved.

While I have no idea if this thing should have passed or not, I have to wonder what the effect would have been had it passed the first time.

I tend to think the momentum of this collapse might have been broken or at least slowed if the markets saw that the energy was there to take action.

It seems that the bailout NOT passing did nothing good. We all patted each other on the backs for the Republicans standing up to Pelosi...and then the bill passed, after it was loaded up with pork.

I don't think the slowing down is necessarily a bad thing. The market may have WANTED a huge pile of money tossed at it, but even if the bailout passed when originally voted on, would we be right back here in the same spot? Because if it was going to do something by being passed on Monday, well, three quarters of a trillion dollars doesn't just lose its momentum for being passed a few days later. We're not talking the difference between a $700 billion and $70 billion, or something--the bailout was still huge.

But if the whole point of passing it was to be as a psychological jolt, then timing really was everything.

[DainBramage]

Bush is a member of Skull and Bones and is following orders to turn our country over to the One World Order.

I hope the uniforms are cool. I'm assuming something in gray so the North Koreans can afford them.