Current Events — HabitableZone

Current Events » in reply to This has GOT to be the longest reach I've seen yet.

re: This has GOT to be the longest reach I've seen yet.

Admittedly the guy doesn't have a lot of evidence for this. Bush does so many stupid things though it's easy to forget he was doing dumb things like this and driving down the stock market.

When he was first promoting the tax cuts he started talking the economy down and caught a lot of flak for it. People were saying that his doom and gloom was going to put the economy into recession, and from then on it did get much worse.

It's no secret a president can talk down an economy. O'Neill did it to Brazil, Bush caused a major upheaval by misspeaking and saying the dollar would be devalued. At the time there was a lot of accusations that Bush would damage the economy with his statements. Recently whenever Bush made speeches they would show the Dow at the bottom of the screen, and how what he said made the market panic.

So some unknown amount of the downturn may have been caused by that. The article does make a valid point that no one seems to know what caused so much damage to the economy, it doesn't correlate with 9/11, but seems to occur earlier. I don't think your post makes any kind of refutation either. The fluctuations he was talking about occured on the same day as various statements by Bush and Cheney and so are likely to be caused by speculators getting in and out over perhaps a day. He should however have used the Dow index itself to show his point as that would have removed fluctuations of individual companies.

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