By Chuck Butler

Well, the President sure painted a rosy picture for the U.S. economy last night didn't he?

Yikes! Using words like "collapse" and "danger" and "panic," President Bush basically told the country we're in deep doo-doo! As he was explaining why the government must spend US$700 billion worth of taxpayer's money to bail out the financial system, he said,

"We're in the midst of a serious financial crisis. Our entire economy is in danger. America could slip into a financial panic."

Those are some serious statements by themselves. But then, they were followed up by comments from the chairman of the House Financial Services Committee, Barney Frank.

Mr. Frank said, "Whatever you think about whether or not there was a need for a bailout...once the president, secretary of the Treasury, and the Federal Reserve Chairman have announced that if you don't do this, there will be a collapse, there's probably going to be a collapse if you don't do it."

Grave words right? But don't you feel like the snake oil salesmen are trying to sell us a powerful medicine here? They’re saying if we don’t take it, we’ll die.

But my question is: Why are they saying all these grave words now? Where has this been for the last year, as credit wound tighter and tighter, house values spiraled downward, oil topped US$145, and the dollar dropped in value?

It's all related, and if these bozos on Congress can't see that, we're in deep doo-doo whether they pass this US$700 billion bailout package or not!

There are two guys that see the light about this whole situation: Ron Paul and Jim Bunning... 

So the markets are waiting for Congress to pass the bailout package, and it does look as though they are close to reaching an agreement on the amendments to the deal. But, until they pass it, the markets are basically standing still. The dollar did receive some McLovin in the short-term, as Big Ben Bernanke and Treasury Sec. King Henry filled the halls of Congress with more lies and videotape.

You see, no one is talking about the fact that this US$700 billion bailout scheme won’t do anything to improve spiraling house prices. It does nothing to improve the recession...nothing to improve energy prices...and so on, and so on.

I’m calling this bailout package, "Cash for Trash” and there’s nothing that’s going to change my mind!