With the news of the last two weeks, there should be no question that America is Doomed.  As Bush went on TV last night explaining that his administration has brought the American economic system to the verge to “total collapse”.  Total Collapse?  Putting it another way Bush was saying that the experiment with lassez fare capitalism has failed.  You can’t trust capitalism to even protect the system that so many used for their own selfish and greedy purposes. Treasury Paulson the former CEO of Goldman Sachs who made millions on what he calls “toxic instruments” now wants to deploy the very same people who caused the problem in the solution.

By the way, the democrats in Congress are no better as they fall over themselves to approve the most outrageous, expensive, non-solution to the true financial crisis in America.

There are still a few gigantic elephants in the room.  Bush only spoke about collarized debt obligiations (CDO) which is just one aspect of the problem — the only aspect that is being handled in the Bailout plan.  There is another even more serious problem — Credit Default Swaps (CDS) which are derivatives that total $60 TRILLION that are totally unregulated.

Another elephant is the national debt that will ultimately be the financial crisis that is without solution.   As the national debt goes up and the dollar goes down, inflationary pressures will result in higher interest rates.  Higher interest rates will cause more of the tax revenutes to go to paying interest on the national debt.  Meanwhile, the national debt keep increasing.  At some point, the game is over.

The Republicans McCain is sick and Palin is not ready to be President.  This ticket is a joke to any thinking person.

America is doomed.