"Minutes from central bank's last meeting show fear of 'severe and protracted downturn'; some members worry economy could shrink in first half of year."

ER said something a while back which got me to thinking. Well, he's said a lot but this is one in particular. If I remember correctly, he said that the Bush Administration would do everything it could to forestall an economic collapse until after it's term was over, and that if there were one before that it would indicate the economy is truly out of control.

That made sense to me, especially as this Administration is going to unprecedented lengths to prop up the financial and stock markets and protect their financial interests from their own folly. And so far the slip continues, with everyone except the Bushies seeing very serious problems ahead. If the next 6 months follows the accelerating trends of the last 6 before Bush is out of office there will be serious questions as to what the US can afford.

Grim.

Arf