Good buy, Mr. President, we'll miss you
What's that flushing sound? It's water running down the pipes of George Bush sewage treatment plant. Well, not, quite true, but it was a close call. Some people might say it's a good thing the vote failed because George Bush sewage treatment plant is a misnomer that doesn't do full justice to the exact nature of Bush's talent. They might point out, correctly, that a sewage treatment plant turns sewage into clean water, whereas George W. has a Midas touch, where everything he handles turns into, well, how shall I put it? You know, the row material for the sewage treatment plant. That's a good point, but it's only part of the truth. Because when Geoge W. took office, there wasn't that much clean water for him to turn into sewage anyway. If anything, the raw material that George W. started with was the same sewage, only more concentrated. Can you get warmer inside the freezer? Yes, you can, if it was even colder outside.
Bush's approval ratings don't really have much to with Irak. Clinton's Balkan policy was even more criminal, but it didn't prevent him from earning stellar ratings as long as the dot com bubble kept growing. Bush's real "crime" was that he failed to support the bubble efficiently enough. He started from scratch and offered the investing public a new bubble instead, but it also burst, though not as spectacularly as the first one. Not that he didn't love his bubbles and didn't put his every effort into inflating them. But the efficiency of his efforts was not that high, in view of certain IQ challenges he had to overcome, and that sealed the last election. As a result, we now have a bad guy who looks like a good guy in comparison with the people who were campaigning against him.
The fate of the two bubbles looks clear now. Both will be reinflated, one a little faster, the other a little slower. That cannot be avoided. But we at least got a good entry point. And that sums up the achievements of Bush's presidency. Getting a good entry point should not be taken for granted. Under Clinton, for instance, we couldn't even dream of such a luxury.
So it is with much regret that I see the old fool go back to his Texan ranch. He was a good fool, a useful fool, a kind of fool that was needed at this point in history. It's a pity that he did not get to keep his job for another 4 years. But what he accomplished was good enough. Looking back ten years from now, with the dow trading at 50,000, we'll be recollecting the events of the bear market of 2008, and saying our thanks to George W. Bush, the useful idiot who made it all possible even though it was entirely contrary to his intentions.