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The Bush legacy can haunt America for decades – unchecked spending and total arrogance end in world stock market crash and global depression
Finance ministers and central bankers meeting in Washington said they would use “all available tools” to prevent the failure of any systemically important banks after a day of virtually indiscriminate selling in Asia and Europe and unprecedented volatility in the US.
It was gloomy face of US President Bush and his financial right hand Henry Paulson that overshadowed the gloom and doom. The promise of G7 is great but till date all poromises have just accelearted selling taking the world closer to a deep muti-decade depression.
The Bush legacy is ready to haunt America for decades. The financial meltdown is real and irreversible. The confidence is gone and American financial system is a proven failure in the world.
As America turns socialist in the next five to eight years, the world will suffer from severe depression. The economic depression in America will be less than the rest of the world taking US Dollar to new highs.
What happened in America is similar to what happened to failed communist regime in Soviet Union in late eighties. The communists ran out of money. The Bush Administration continues to print Dollar and throw the same in the banking system hoping others will not watch the intrinsic diminished economic strength of the United States.
The unchecked spending and total arrogance of neo con Bush Administration ends in world stock market crash and global depression.
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