Check, please!

It’s too easy to only blame the “sub-prime” situation for the current financial mess we’re in, when in fact, all of that started with George Bushes’ ill-conceived tax-cut at the beginning of its presidency. Simply put, the “sub-prime” is another symptom of Bushes’ dysfunctional economic politics. All along, an all-out consumption has been his administration’s priority. This flight forward kept everyone busy buying flat screen TV, huge SUV and Mac Mansions while no one really paid attention to the extraordinary cost of the unnecessary Iraq war that has been bleeding our treasury ever since. The huge budget deficit caused by a conflict we couldn’t afford and didn’t want to pay for has been depressing the value of our dollar and has now painted our Federal Reserve into an inextricable corner. Last week’s decision by Chairman Bernanke to lower interest rates by ¾ of a point was yet another desperate, albeit larger Band-Aid application that just lasted a few hours. We’re now running out of ammunitions to get ourselves out of an abyss entirely engineered and dug for us by the Bush administration; so what are we to do next? Simple, we’ll stay in that hole for quite some time so we can rightfully experience the pain! Just fasten your seat belts…