President Bush and his advisers in Washington are trying desperately to find a position while our economy slips into recession. The timing couldn't be worse for the republican nominee John McCain, who supports the policies that got us into this mess in the first place.
Stagflation is caused by the very things that are happening in the economy right now. Dramatically rising oil prices, careless monetary valuation (on the world market) for the U.S. dollars, and the rapid rise in home foreclosures all play a role. Basically inflation is going up, a recession is going on, and supply shock due to increasing oil prices are taking their toll, and corrective measures that at one time worked to keep the economy in check are not longer working. The credit crunch is not helping.
So who is steering the ship? A monkey and Darth Vader. Yup. It's bad.
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» Know More Media Review: Spitzer Scandal, Political Mud Slinging, and Recession Concerns from Know More Media
The last couple of weeks have been quite interesting in terms of news. Last week was dominated by recession news and this week was dominated by scandal. Politics has also been a huge player over the last several months with the... [Read More]
Tracked on: March 14, 2008 6:16 PM | Permalink to Trackback