Bush: 2005->2009

The country has a big problem is our beloved
leader wins re-election in November, 2004:
what in the world will he do to occupy his
time? In his first term he has distinguished
himself by shaping every policy decision,
per General Rove and Cheney's advice, to the
challenge of winning the 2004 election. And
nearly choking to death on a pretzel. That's
it. But as a two-term "dead-ender" the only
possible activity, other than looting the
Treasury, would be shaping policy decisions
to benefit other Republicans and to advance
the dynasty, perhaps for Jeb in 2008.

Somehow I don't see Comrade Fuhrer Bush taking
a sincere interest in doing anything that
doesn't benefit himself. That leaves looting
the Treasury amidst the slow-motion train
wreck that is certain to happen after four
years of monkey-brain thinking. America will
resemble the land described in "Atlas Shrugged",
with desperate looting activities and blatant
favortism/cronyism.

Really.

If Bush is re-elected things will become very
ugly. Bet on it. I am.

I enclose two articles about the train wreck
a-comin'. They are the merest tip of the iceberg,
to mix metaphors, if you include foreign policy
debacles now taking hold and on the agenda.

http://quote.bloomberg.com/apps/news?pid=10000103&sid=a4X_wzXGLYgo&refer=us

U.S. Relies on Foreign Investors to Buy Treasuries Amid Deficit

Jan. 21 (Bloomberg)

Excerpt:

Assuming a deficit of $550 billion, the government will
sell the ``rather large and startling number,'' of $988
billion Treasuries, including about $170 billion to be
held by the Fed, Wright said. The sales will allow the
government to raise about $495 billion, she said.

Bush last night urged Congress to keep spending growth
to less than 4 percent.

Excerpt:

The U.S. government faces a ``horrendous'' budget
outlook that could prompt higher interest rates, a
lower dollar and a weaker economy, former U.S. Treasury
Secretary Robert Rubin said Jan. 13 at a conference
organized by the Brookings Institution in Washington.
``We can have an unholy mess, potentially,'' said
Rubin, who is chairman of Citigroup Inc.'s executive
committee.

Excerpt:

Pimco's Gross last week said Bush's plan to boost
growth through deficit spending was ``nonsense'' that
``belongs in Mad Magazine.'' He predicted China and
other Asian countries would at some point ``wake up
and smell the coffee,'' suggesting they will rein in
Treasury purchases.

* * *

http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_baum&sid=alxXCOtd5VDs

For Paul O'Neill, It's Always About the Truth: Caroline Baum

Jan. 21 (Bloomberg) -- Paul O'Neill is having an impact.

Excerpt:

O'Neill, the main source for the book, describes the
president as disengaged (``a blind man in a room full
of deaf people''), the policy process as broken (``no
policy apparatus to assess policy and deliberate
effectively'') and policy decisions as divorced from
analytical rigor (``efforts to collect evidence and
construct smart policy are ... co-opted by the White
House political team, or the vice president'').

Excerpt:

The transition cost of fully funding everyone over age
37 in the current system is estimated at $1 trillion.
Both O'Neill and Greenspan would have preferred the
surpluses be used to address the future strains on the
retirement system rather than to cut taxes.

* * *

P.S. There are a few reasonable steps that a cautious person
might take to safeguard against the worst case scenario.
Hint: Very Bad Things "may" happen to the US dollar and
the economy between 2004 and 2010. Plan ahead, for the
children's sake if not your own. Please. If Bush wins in
November 2004 we are really fucked -- and it looks inevitable
unless something happens.