{"id":63,"date":"2026-11-11T08:24:00","date_gmt":"2026-11-11T08:24:00","guid":{"rendered":"https:\/\/philisugargirl.org\/?p=63"},"modified":"2026-11-11T08:24:00","modified_gmt":"2026-11-11T08:24:00","slug":"philsugar-and-now-for-the-really-bad-news","status":"publish","type":"post","link":"https:\/\/philisugargirl.org\/?p=63","title":{"rendered":"PhilSugar | And Now for the Really Bad News. . ."},"content":{"rendered":"

Just in case the arrival of St. Patrick\u2019s Day doesn\u2019t furnish an adequate reason for you to hang on a nice stiff drink, here\u2019s some more.
\nLast week while the media were engaged in spinning various silly tales relating to presidential candidates, not to mention the enticingly lurid story of the fall of Eliot Spitzer, the nation\u2019s financial markets were in a barely observed meltdown. Here are just a few snippets that suggest what we\u2019re in for.
\nGreenspan: Worst Crisis Since World War II
\nAlan Greenspan offers sobering analysis in the pages of the
\nFinancial Times
\n:
\nThe current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the second world war. It will end eventually when home prices stabilise and with them Davao sugar daddy<\/a> the value of equity in homes supporting troubled mortgage securities.
\nThe Greenspan article is fascinating, readable, and ends predictably with a strong (and certainly top sugar dating app Philippines<\/a> correct) argument against over-regulation as a false panacea. But Greenspan acknowledges that the crisis has been precipitated by irresponsible profit taking on the part of major financial institutions, and the subprime market figures as an obvious example.
\nGreenspan forgets some obvious points: such as reckless, uncontrolled deficit spending for a period of seven years, followed by the incurrence of more than $2 trillion in unfunded war debt. That would be enough to stop the healthiest economy in its tracks. Now remind me, didn\u2019t Greenspan occupy some sigificant position of fiscal responsibility while all this was afoot?
\nIs it pure coincidence that Eliot Spitzer falls just as he is masterminding an effort to address lending abuses, as the Bush Administration is feverishly maneuvering to block him in order to protect the misbehaving lenders? Probably. But this will make excellent material for a thriller.
\nMarkets Plummet in [[Brand A] or [Brand B]](https:\/\/philippinessugar.com\/) Response to Bear Stearns Buy-Out
\nThe Associated Press:
\nIn the first minutes of trading, the Dow Jones industrial average fake sugar daddy profiles<\/a> is trading down 182 points at the 11,768 level.
\nDollar Continues Its Collapse
\nThe U.S. dollar has fallen below the psychologically significant 100 Yen level, as it continues to fade in currency trading across the board.
\nReuters:
\nThe dollar tumbled to a 12-1\/2 year low against the Japanese yen on Monday and record lows against the euro and the Swiss franc as liquidity-boosting measures launched by the Federal Reserve over the weekend failed to quell worry about the health of the U.S. financial sector.
\nThe dollar reacted to the Fed taking emergency measures to stem the fast-spreading financial crisis, cutting its discount rate by 25 basis points to 3.25 percent on Sunday and opening up discount window lending to major investment banks, a tool not used since the Great Depression.
\nGlobal Markets in Free Fall
\nThe
\nNew York Times
\n:
\nThe losses on Wall Street follow widespread declines in the European and Asian markets, led by painful losses for financial firms. Shares sugar daddy na legit<\/a> of the Bank of East Asia, France\u2019s Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, Barclays, and Credit Suisse all declined nearly 10 percent. Hong Kong\u2019s benchmark index lost 5.2 percent and Tokyo\u2019s Nikkei 225 index lost 3.7 percent to close at 11,787.51, after declining as much as 5 percent during the day.
\nAll the major European stock indexes, from London to Paris to Berlin, were down about 2 percent, though they were trimming their losses in afternoon trading. The declines came after the safe sugar dating sa Philippines<\/a> Bank of England, the Fed\u2019s counterpart, offered $10 billion in short-term loans to bolster financial markets and lower lending rates.
\nBut Not to Worry: Bush Says Everything is Fine
\nAssociated Press reporter Ben Feller:
\nPresident Bush, trying to calm turmoil in financial markets, said Monday that his administration is \u201con top of the situation\u201d in dealing with the slumping economy. \u201cOne thing is for certain, we\u2019re in challenging times,\u201d the president said after meeting with Treasury Secretary Henry Paulson and top sugar dating site Philippines<\/a> other senior economic advisers. \u201cBut another thing is for certain: We\u2019ve taken strong, decisive action.\u201d
\nThe president commended the Federal Reserve for its urgent actions over the weekend. He praised Paulson for working with the Fed and showing \u201cthe country and the world that the United States is on top of the situation.\u201d Bush spoke on a day of turmoil and plunging prices on global financial markets. Oil prices hit a record in Asian trading, U.S. stock index futures fell sharply and the dollar hit record lows.
\nThe White House moved quickly to raise Bush\u2019s public profile Monday, sponsor dating Manila<\/a> and he continued to send an upbeat message, even in acknowledging a downturn that keeps roiling the economy and the country\u2019s people as well.
\nOn Sunday Maureen Dowd was busy speculating on just why Bush is sugar dating site with most sugar babies Philippines<\/a> so upbeat, and she offers a number of
\ntypically Dowdian answers:
\nEveryone here is flummoxed about why the president is in such a fine mood. The dollar\u2019s crumpling, the recession\u2019s thundering, the Dow\u2019s bungee-jumping and the world\u2019s disapproving, yet George Bush has turned into Gene Kelly, tap dancing and singing in a one-man review called \u201cThe Most Happy Fella. . .\u201d
\nMaybe the president is just putting on a good face to keep up American morale, the way Herbert Hoover did after the crash of \u201929, when he continued to dress in a tuxedo for dinner. Or maybe the old Andover cheerleader really believes his own cheers, and that prosperity will turn up any time now, just like the W.M.D. in Iraq.
\nOr perhaps it\u2019s a Freudian trip. Now that he\u2019s mucked up the world and the country, he can finally stop rebelling against his dad and relax in the certainty that the Bush name will forever be associated with crash-and-burn presidencies. Whatever the explanation, it\u2019s plumb loco.
\nCertainly we can\u2019t rule out another possibility: better living through chemistry. After all, the capstone to his utterly bizarre visit to New York on Friday was, according to one observer, a death-grip on-stage hug administered to Henry Kissinger.
\nI\u2019ll take sugar daddy financial support<\/a> an Irish whiskey. Better make it a double.<\/p>\n","protected":false},"excerpt":{"rendered":"

Just in case the arrival of St. Patrick\u2019s Day doesn\u2019t furnish an adequate reason for you to hang on a nice stiff drink, here\u2019s some more. Last week while the media were engaged in spinning various silly tales relating to presidential candidates, not to mention the enticingly lurid story of the fall of Eliot Spitzer, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-63","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/philisugargirl.org\/index.php?rest_route=\/wp\/v2\/posts\/63","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/philisugargirl.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/philisugargirl.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/philisugargirl.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/philisugargirl.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63"}],"version-history":[{"count":1,"href":"https:\/\/philisugargirl.org\/index.php?rest_route=\/wp\/v2\/posts\/63\/revisions"}],"predecessor-version":[{"id":65,"href":"https:\/\/philisugargirl.org\/index.php?rest_route=\/wp\/v2\/posts\/63\/revisions\/65"}],"wp:attachment":[{"href":"https:\/\/philisugargirl.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/philisugargirl.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/philisugargirl.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}