Everything is Pointing in One Direction, Led by Cheney/Bush Incompetence

Photo from Indybay.org

The global market is failing. Iceland, instead of asking the States to bail it out, asked Russia. Fall Street is spreading all over the world. (And yes, the journalists at CNBC, plus Bloomberg too, blame the companies and the government, but really, should hold themsleves accountable first for doing shoddy journalism that should place them in shame forever.)

And both Vladmir Putin and Dmitry Medvedev have been rubbing it in.

"Trust in the United States as the leader of the free world and the free economy, and confidence in Wall Street as the center of that trust, has been damaged, I believe, forever," Putin said. "There will be no return to the previous situation."

Putin and President Dmitry Medvedev have repeatedly accused the U.S. of responsibility for the crisis and called for changes in the world financial system.

But to be honest, Putin is honestly right. How can you trust something when it has caused a change effect of international market crashing hard like this. Huh?

Asia, Europe, Africa, hell, probably even in Antartica (besides global warming), has felt the pain of the markets from Wall Street rippling down on the rest of Earth.

But it wasn't just the fact that "Wall Stret got drunk." Instead, it is the incompetent idiot who uttered that phrase who got "drunk" (and that is even being lenient to him). And the "Vice President" who he follows on every move, especially those oil companies who have kept quiet with how GREAT they are doing as the rest of the fiscal sectors collapses or deteriorates.

The Read
1. IndyBay explaining the mess, and how manufactures (here's looking at General Motors) are really suffering, as the graph shows. Bad.
2. The New York Times Paul Krugman explains how Henry Paulson gambled in failed by letting Lehman Brothers fall, leading to the even more dire situation that is currently at hand.