The Bush Depression
In a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.
McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.
Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit.Bush created a national debt larger then the first 42 presidents combined
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why isnt obama 25 points ahead
The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.
Let's teach him we are smarter than that .
31 states are voting now, dont wait
Elect Obama Biden 2008
Check out this video of sarah palins interview before you vote
http://www.youtube.com/watch?v=r36Xc0GG4i
Health: The Way to Save Millions of Lives is to Prevent Smoking
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Only 5 percent of the world's people are protected by any one of these strategies, and no country has fully implemented them all. But that is starting to change, thanks in part to the local groups we are supporting around the world, and to government officials who are beginning to stand up to the tobacco companies. From Mexico to Turkey to China, governments are starting to adopt MPOWER strategies.
Of course, the skeptics say that the problem of tobacco use is too culturally entrenched to solve. But part of taking on an entrenched problem—whether it's in health or education or public safety—involves challenging people's expectations of what is possible. As we know from our experience in New York City, when people accepted high crime rates, we had high crime rates. When people accepted low high-school graduation rates, we had low graduation rates. And when people accept high smoking rates, we get high smoking rates—and 5 million tobacco deaths a year. But it doesn't have to be that way! And if more people, community groups, international organizations and government officials take action to stop the world's leading cause of preventable death, it won't.
Fighting tobacco use is the single most effective way we can prevent premature deaths in the developing world. A billion lives hang in the balance.
Bloomberg is mayor of New York City.
© 2008
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