Germany and Spain's economic downturns have now officially pulled the Eurozone into a recession. This is on top of already bad news that the Bush recession had spread to Hong Kong and Singapore as well-- and word is that Japan is one step away from going down the toilet too. Check out this source for how the Bush recession is having an impact of China.
King George has been asleep at the wheel for the last eight years, having done nothing for the economy other than ramming through a series of damaging tax cuts. And after jumping into action only when the tanking economy threatened McCain's campaign, lame duck W sat by while bailout billions were spent on luxury junkets, shareholder dividends, mergers and acquisitions and executive bonuses (instead of preventing foreclosures or actually providing needed credit). I fully expect the G20 to take W out to the proverbial tool shed for a thorough spanking. Well-- we can hope so, anyway.
Oh, did you hear-- ding-a-ling W thought a good idea for an economic crisis meeting would be to serve $500-a-bottle wine. Sheesh!
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