It Could Be Bad

Oil hit a record high, the dollar sank again, and consumers stopped buying pretty much everything.

Stocks kept gyrating, too, on Thursday, swinging between gloomy recession evidence and rising hopes that all the bad news would bring another aggressive cut in interest rates when the Federal Reserve meets next week.

The Bush administration, conceding the economy was facing ''difficult'' times now, rushed out new proposals aimed at next time -- plans to fix various problems that have led to a severe crisis in credit markets.

And then..

The United States has entered a recession that could be "substantially more severe" than recent ones, former National Bureau of Economic Research President Martin Feldstein said Friday.

"The situation is very bad, the situation is getting worse, and the risks are that it could get very bad," Feldstein said in a speech at the Futures Industry Association meeting in Boca Raton, Florida.

This is a result of a Republican controlled Congress, and a Republican President.

What is it with the fucking loons? It's one disaster after the next. Good thing we got tax cuts, right? Good thing we got expensive as fuck wars, right?

When are people going to wake up and realize that right wing religious nutzoid war mongering freaks are destroying our nation? Very soon I'd imagine.