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BUSH CAN INFLICT MORE DAMAGE BY DOING NOTHING
The king of denial, George W Bush, who has yet to acknowledge that we are in a recession, will do everything in his power to maintain that denial right up to January 20, 2009. By that time the Dow Jones could be at 5500 reflecting a major depression with little if any policy changes in effect: Allen L Roland
Nobel-prize-winning economist Paul Krugman notes a "disturbing parallel" between 2008 and 1929: "the emergence of a power vacuum at the height of the crisis." With a "standoff" between Congress and the lame-duck administration, Krugman writes, "nothing is happening on the policy front that is remotely commensurate with the scale of the economic crisis. And it’s scary to think how much more can go wrong before Inauguration Day."
Obama's selection of Geithner as Sec of Treasury is a signal that Obama will work from the center-right ~ which is part of the tainted legacy of the Clinton years. Geithner is apparently taking orders directly from the international bankers. He is also cozy with AIG, Lehman, and Goldman Sachs and is the principle author of the $700 billion discredited bailout package.
Once again, the progressive left has been marginalized. As such, it's essentially the same old game with different players which means any meaningful change will be much slower and the current financial crisis will be much deeper.
If you're not outraged, you're on life support. Demand action now from the Obama transition team.
Call the Obama transition office, if you haven’t already at 202-540-3000 / 866 675 2008 or use their web form.
Allen L Roland http://blogs.salon.com/0002255/2008/11/22.html
Freelance Online columnist and psychotherapist Allen L Roland is available for comments, interviews, speaking engagements and private consultations ( allen@allenroland.com )
Allen L Roland is a practicing psychotherapist, author and lecturer who also shares a daily political and social commentary on his weblog and website allenroland.com He also guest hosts a monthly national radio show TRUTHTALK
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