Snippets – A Dash of Bad News and Good News in the News – May 18th 2008

Well, President Bush seems to have enough of a nest egg to weather the forthcoming economic collapse – but what about the rest of America?

In the World US & Canada Report, dated May 16^th 2008, US Consumer Confidence at Lowest Since 1980 …

The Reuters/University of Michigan consumer confidence index plunged from 62.6 to 59.5 in May, the lowest reading since June 1980. Meanwhile, one-year inflation expectations rose to 5.2 percent, the most since February 1982, and up from 4.8 percent in April.

Snippets – Politics as Usual, May 18th 2008

Peggy Noonan writes in her article Pity Party, May 16^th 2008 …

Big picture, May 2008:
The Democrats aren’t the ones falling apart, the Republicans are. The Democrats can see daylight ahead. … The Republicans? Busy dying. …
The headline Wednesday on Drudge, from Politico, said, “Republicans Stunned by Loss in Mississippi.” It was about the eight-point drubbing the Democrat gave the Republican in the special House election. …

And thus the political climate warms up, but not from global warming.

And more revelation from the dark side of politics – President GW Bush and family has literally lost a fortune during his presidency …

The Washington Post, Dan Eggen, May 16^th, 2008, Bush May Have Lost Wealth During Presidency …

“President Bush’s financial fortunes appear to have declined over the past seven years, with his family’s assets dropping as low as $6.5 million, according to disclosure forms released yesterday. Bush and wife, Laura, were worth at least $9 million and as much as $24 million at the start of his term. The Bushes could still be worth as much as $20 million now, according to the financial documents filed with the Office of Government Ethics, which requires assets to be reported only within broad ranges.
Vice President Cheney and his wife, Lynne, have fared better, reporting assets of at least $21 million and as much as $99 million, the forms show. …
President Bush’s biggest asset is a 1,600-acre family ranch near Crawford, Texas, which is listed as being worth between $1 million and $5 million. Last year, Bush reported assets of a minimum of $7.5 million.

It seems that the presidency isn’t as fruitful as some critics would have the public believe.

And Obama? He is showing weak on the foreign policy issues …

President Reagan talked with the Soviets while pushing ahead with the deployment of Cruise and Pershing missiles in Europe. He spoke softly – after getting himself a bigger stick. Senator Obama is proposing to reward a man who pledges to wipe Israel off the map with a presidential photo-op to which he will bring not even a twig. No wonder he’s so twitchy about it.
Mark Steyn