He went nuts.

When you see the Treasury Secretary and Federal Reserve Board Chairman constantly commenting on the strength of the economy without mentioning the grave perils obviously facing it you know it's in trouble. Big trouble.

It was noted before the problems began that the economy was being fueled by the rise in housing prices and when that ended there would be far less disposable income, with all that implies. Now that it's here, folks aren't talking about how important that was. Instead, there's the propaganda.

My guess is that the insiders are using all manner of temporary fixes to prop it up, restore confidence and keep it from a serious fall long enough to engage in protective measures to ease the fall when it comes.

Watch for Bush to funnel money into the financial corporations, not the borrowers who are hurt. The US is socialist for large corporations, capitalistic for the individual without corporate protection.

It's nonsense to say the US is a capitalistic economy. The government exists to funnel money into corporations, and there is little difference between Democrats and Republicans on that score. They only differ in the methods.

Arf