Chris Cantell Discusses Financials: United States on Target by Milota Sidorova

President Bush has a lot of work to do. First of all – on Monday he has had to assure the rest of the world that his ‘rescue’ plan costing America more than $1.1 trillion is the right step on the right place in the right time. Although five of the most influential investment banks and insurance groups have been spared, American stocks and dollar have been dropping rapidly yesterday.
After a weekend of a ‘spring breeze’, troubles or at least fears seem to resist.

And the question is not whether generous United States releases such amount of funds, nothing but whether United States can afford releasing such amount.

Today, the annual ministerial meeting of the U.N. General Assembly is going to take place in New York. It seems President Bush has more than ‘all in one’ opportunity assume American point of view. Or let’s speak in American style – that the United States are taking bold, aggressive, decisive action" to rescue the crisis-ridden economy.

However his scheduled 15 minutes long speech should have focus on increasing demand for multinational diplomacy. OK. I try to pass this information with a stone face.
It’s just funny that the President, leading the most powerful country into the greatest national debt and world scorning is going to talk about diplomacy. President whose ‘holy Democracy invasions’ have taken thousands of American and millions of non-American lives. Yes, because that’s the optic for this administration. A divided world. The American and non-American. Democracy and terrorism…

However, markets seem to merely care about morality or other ‘higher values’.
And it seems that the presidential speech focusing on economy simply overshadowed his U.N. performance. Anyway, it’s always like this.
So we’re keeping waiting. Waiting to believe.


related story: http://news.yahoo.com/s/ap/20080922/ap_on_go_pr_wh/bush;_ylt=Ah9nzKAYTxhSQ_BFk9ZHWwCs0NUE

by Milota Sidorova for PocketNews (http://pocketnews.tv)

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edited by Beata Biskova