Re: The Economic Consequences of Mr. Bush

["Dave Farber" <dave () farber net>]

-----Original Message-----
From: Charles Arthur [mailto:charles.arthur () gmail com] 
Sent: Sunday, November 11, 2007 9:01 AM
To: dave () farber net
Subject: Re: [IP] The Economic Consequences of Mr. Bush

Hi..
On 11 Nov 2007, at 10:19, Dave Farber wrote:


> Subject: [Dewayne-Net] The Economic Consequences of Mr. Bush


Even a Brit like me knows that many of these things can't be blamed  
on George Bush.

The taxation structure, yes -  that's ridiculous, and that Warren  
Buffett is calling it indicates how bad it really is.

The cost of the war in Iraq, yes - bad planning, bad execution and  
terrible decisions to begin with.

But:
-dollar's low value: inevitable as China has become industralised.  
The dollar was going to be slogged by the trade imbalance.
-oil price: despite Iraq, the growth of China and India means their  
demand for oil was always going to push up those prices. Arguably,  
it's about time the US discovered the real price of oil.
-education: well, does he really decide how US universities work? I  
mean come on - surely that's a state level subject, or even one for  
people in the Senate and Congress.
-mortgage lending - well, that's down to badly-regulated financial  
organisations encouraging mortgage lenders to splash cash on anyone.  
That's just financial orgs being too inventive for their own good.  
Hardly down to GWB's encouragement.

There is a need to separate what you'd like to blame GWB for and what  
he is actually to blame for.
The interesting question is whether the next president will be able  
to fix any of these problems.

     best
     Charles

--

         my blog: http://www.charlesarthur.com/blog/



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