George Bush vs Ben Bernanke

On July 15th, 2008, George Bush and Federal Reserve Chairman Ben Bernanke each held separate press conferences, of a sort.

On the Economy:

Bush: “Basically sound.” 

Bernanke: “The economy continues to face numerous difficulties.”

Bush: “Our economy has continued growing.”

Bernanke: “Rapid increases in the price of energy and other commodities.”

Bush: “Consumers are spending, businesses are investing.”

Bernanke: “Economic activity has advanced at a sluggish pace.”

Bush: “American productivity remains strong.”

Bernanke: “Ongoing strains in financial markets, declining house prices, a softening labor market.”

Bush: “You’re protected by the federal government.”

Bernanke: “Have boosted inflation.”

Bush spent much of his time lambasting Congress.  Yes, I lambast them too, for giving Bush any power in the first place.  And the people, for voting him into office. 

P.S.  Gasoline was $1.48 a gallon when President George Bush took office in 2001.

Federal Rate Cuts Plateau at 2.00%

After continually falling from 5.25% in September of last year, the Federal Reserve finally seems to be content with the status of the current 2.00% interest rate.  The non-cut was expected, so it comes as no surprise.

“Experts” believe the federal reserve and Ben Bernanke will not make any changes through the rest of 2008.  They expect the earliest changes to occur in early 2009.  However, we seem to be living in a volatile time with regard to oil and gas prices, war in Iraq, inconsistent blog traffic, silly Presidential characters, script critiquers that suggest dumbing down a script, recessions and other shenanigans.  So, it may be hard to predict the future of what Federal Reserve Chairman Ben Bernanke will do.

Afterall, a script critiquer recently wrote “I don’t mean to ‘dumb’ it down entirely.”  Oh, thank the Lord. (Not that I believe in a Lord per se, but it’s the best saying I could think of that fits the most.)  Although, there is that Lord named Bush, who loves him some Texas Tea – black gold that is… y’all come back now, here.  It’s a good thing entirely dumbing it down was not the intent – although it may have been the outcome in the mold of some Presidents, er, yes, I can’t wait until January 2009.  Maybe by then, I’ll have forgotten about the critiquer who suggested dumbing down the script, in some form, if not entirely.

Fedcut OUT!