Tuesday, February 27, 2007

Economics 101 - Dubya Style

Has anyone seen this article yet? If you can't take bad financial news, you might not want to read it.

Basically, here's what we're dealing with:

  • The stock market plunged more than 500 points before recovering slightly.

  • The economy may be decelerating more than anticipated.

  • Orders for durable goods dropped in January by the largest amount in three months.

  • Housing market slump isn't temporary - it's far from over.

  • Fourth Quarter GDP growth expected to be revised down to 2.3% from 3.5% tomorrow.

  • And we thought the Republicans and their annointed king couldn't fuck up our country any more than they already have. This goes way beyond cyclical for anyone who wants to whip out that argument.

    On the lighter side of financial news we find BOA customers cutting up their credit cards and mailing them in to protest BOA's new card that could be used by folks who are in the country illegally as they do not require social security numbers. Don't know about you, but I'm getting that new coke kind of feeling about these cards.



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