Day By Day

Tuesday, August 12, 2008

The Bush Economic Miracle Continues

Wars, oil bubbles, housing busts, financial institution foolishness, come what may the Bush economy just keeps chugging along. We have successfully evaded a recession [despite what the MSM has told you, it just didn't happen] and economic growth has accelerated up to 1.9% [up from 1.0% last year]. Oil prices are dropping, the dollar is strengthening, financial institutions are stabilizing. For the second time this decade President Bush has successfully guided the nation through dangerous economic times. By contrast, European economies are tanking. Italy has reported negative economic growth [that's what a recession means, we haven't experienced it] and German GDP growth has declined to a mere 1.5% [here]. EU countries will be issuing detailed reports on Thursday. It will be interesting to see just how the economic management of the Eurocrats compares to that of Dubya's team. Once again President Bush outperforms his critics.


Japan's GDP officially fell by 0.6% in the last quarter [here]. Europe and Asia are tanking, but the Bush economy just keeps chugging along.