Bush's Bubble: It's the Economy, Stupid

Even Bush's best buddies on Wall Street are finally starting to turn against him:

Most of all, they fault George W. Bush for having failed to realize that he has another Katrina on his hands, this time of a financial nature, for which private-sector solutions are useful but not sufficient to keep the levees in place. They believe he has to deploy greater government means to send a message to the financial world that he is drawing a line in the sand. [...]

As with the war in Afghanistan, the Iraqi war aftermath, the Hurricane Katrina disaster and current efforts at Mideast peace, investors are concerned that the president is responding too late and with inadequate understanding, resources and creativity.

Looks like Bush is following in his father's footsteps on the economy:

"Wait, what did you just say? You're predicting $4 a gallon gasoline?" a surprised President George W. Bush said yesterday when a reporter mentioned what energy analysts are saying could happen soon in many parts of the country.

"That's interesting," Bush said, "I hadn't heard that ... I know it's high now." [...]

Bush's expression of surprise at how high gasoline prices could climb drew comparisons with his father, George H.W. Bush, who took a serious political hit when he was president after appearing to be unfamiliar with the scanners used in supermarket checkout counters. The incident was widely construed as suggesting the first Bush was out of touch with everyday life.

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