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Bush says U.S. economy on the upswing

Associated Press

Latest comment posted at 11:23 AM EST 30/08/08

U.S. President says Americans may soon be able to stop worrying about the economic health of their country ...Read the full article

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  1. Rudy Krueger from Canada writes: Of course the US economy will wobble and wind its way back to good health - it was never in so bad a state as everyone was led to believe anyway.

    Incidentally the 'economy' is not Bush or the Federal Reserve Board or the participants in the staged melt-down of crap lending practices.

    'The Economy' is the people working, buying, getting sick and recovering health, volunteering, mothering and fathering....

    Bush reminds me of a member of the middle class (bourgeois) that saw himself as one of the key figures in the bourgeois revolution of middle class against the aristocracy/landed wealth of France two centuries ago. They wanted freedom to practice free enterprise - responsible taxes, right to own land and production ... right to exploit worker and all that high-minded stuff. So they imitated the peasant revolution of their forefathers and acted out on the streets, etc.

    Anyway, this fellow (it is said) was having a haircut and shave when he and the barber heard a familiar chant of the bourgeois demonstraters coming down the street. He said to the barber, 'Quick, make haste and finish. I must follow them for I am their leader.'
  2. North Star from Canada writes: How much share of the US debt does each American owe? Does everyone in the US suddenly have an extra $30-$40K to put in the pot?
  3. bill k from Canada writes: LOL what a propaganda joke. The US economy is about to crash. I know people are stupid and clueless when it comes to the economy but lol who is stupid enough to believe the US is in an upswing?
  4. charles ANTHONY from Canada writes: LOL Right Georgie!
  5. Yvonne Wackernagel from Woodville, Canada writes: Oh come on! Do you expect your President to tell you anything but 'Don't worry, be happy!. After all, even he knows that some cheer is required at the present time in the United States of America; the world is expecting to get 'cheer' at least from that great nation. And now that we have Sarah, she will certainly add to this cheer. Unfortunately, I think McCain is already regretting his choice; you could see it in his face as she was waiving her hand in front of it with her empty rhetoric. Gad! I don't think I could stand listening to that voice for the next two months. If there was ever an empty, blustering, 'hockey mum' idiot who managed to outshine the FEW other idiots in Alaska, then McCain must have lost his marbles to choose her. Is she capable of learning the ropes within two months in case he expires soon? What an insult to the American people to ask them to accept the very least of them who managed to out-talk the few males in that TINY state to run their whole sovereign country with over 300 million inhabitants. How many citizens in the State of Alaska? Being in the official position to sign a contract for a gas pipeline gives her the Brains to run the United States of America? Don't the 'educated' in that country feel insulted?
  6. d m from toronto, Canada writes: i see bush still has his head in the sand or is running around like a headless chicken looking for it.
  7. North Star from Canada writes: Hi Rudy - perhaps could you could correct my math instead of attacking people's right to speech?
  8. Dr. Winston O'Boogie from Waterloo, Canada writes:
    Bush'll say thang.
  9. Howard Young from Canada writes: What you don't believe him? Didn't you see a copy of his speech? It had drawings of happy faces, rainbows and unicorns in the margins.
  10. west slope from Canada writes: ---
    US average weekly hours worked have declined. More nasty surprises await us in the financial and housing sectors. Economic growth is slowing world wide.

    Barring the usual data revisions, this period of stagnant growth is not over yet.

    That means that aggregate real growth is well under 2% per annum and real per capita growth is near zero or slightly negative.

    Expect much crankiness.
  11. Bobby the K from Yahk, BC, Canada writes: . Does Cheney/Bush have a shred of credibility left? Are non-wealthy people actually (still) buying his crap?
  12. Rolter Lorf from Canada writes: the rebate checks are a false sense of security......at some point in time the negative effects will show themselves....quarter 3 is not going to be a good one ..
  13. Captain Pugwash from Canada writes: Bush says U.S. economy on the upswing. Bush says Iraq had WMD. Bush says world is 4000 years old.
  14. Eastern Ontario Robert Bythelake from Eastern Ontario, Canada writes: Well done George Bush.... Yet another MISSION ACCOMPLISHED! Feels like Iraq all over again....
  15. Dr Demento from Canada writes: 'Most credit was given to the $93-billion in economic stimulus payments the federal government has sent to households since May.'

    Yep $93 billion in BORROWED money.

    That's like making a big deal of your great standard of living while you max out your credit cards.

    As usual Rudy Krueger provides no basis for his Bush-like lament that all is well in the debt-ridden US economy . . .
  16. Rudy Krueger from Canada writes: North star - this is not a math issue. Your comment is really hard to understand - ie where is it taking us?

    But it seems to suggest that the only way for the US to turn around its current economic situation is for its citizens to pay off their shares of the mass debt. By inference then, the comment from Bush is patently wrong until there is evidence that the people can pay off the debt.... something like that.

    If you meant something else, that is your burden - one that could be addressed with greater clarity.

    And no suggestion for or against free speach is made here. Say what you want and then stand by it. That someone eidsgrees or disapproves of the direction of a vague comment is not at all the same thing as wishing to curb your rights nor is it plausible to draw such a connection.
  17. Tom Araxias from Chatham, Canada writes: I should be laughing but I can't. This is far too serious an issue to just laugh it off as more spin and lies from a delusional president. I'm sure all the millions of Americans who lost their homes, or about to lose them because their mortgages are about to be reset to something they can no longer afford, or their credit card debt is running out of control, or they can't afford to buy a lot of the things they have enjoyed in the past because REAL inflation is running out of control, or they are about to lose as much as 40% in their home equity because of Wall Street was allowed to rape and pillage the public under the approval of this administration, or they have just lost their jobs, or they have no medicare are now feeling much better because of Bush's statement which is based on a fabricated number. This is truly really really SAD.
  18. Chuck Berry from Canada writes: Bush - dishonest. Obama - honest. Republicans - bad. Democrats - good. Harper - dishonest. Dion - honest. Conservatives - bad. Liberals - good. Fox News - dishonest. Globe and Mail - honest.
  19. Super Matic from Antigua and Barbuda writes: Bush was actually referring to the war economy.
  20. William J Gillies from Canada writes: Rudy Krueger from Canada writes: 'I would like ...'

    Great rant, Rudy! All your bile nicely presented in one concise paragraph. And no need to look at anything else you post!
  21. The Iconoclast from Canada writes: I would like to get some of whatever he is smoking.
  22. black and white from Canada writes: 'An election is coming. Universal peace is declared and the foxes have a sincere interest in prolonging the lives of the poultry.' (TS Eliot)
  23. Rudy Krueger from Canada writes: I was a great deal more comfortable with the world when there were simple ratios to be used by which to determine whether a currency was fairly priced, fiscal and monetary policies were sensible and likely to lead to betterment for citizens. Bush is all about how much better things were when they were simple - Gee our old LaSalle ran great, boys were boys and men were men ...' And a 4000 year old earth when you are an oil man that made his fortunes selling the carcasses of 100 million year old snails. And 'right' to life when you plan to kill innocent people at war. And no stem cell research when you have to admit to experimenting with the lives of troops or supporting eugenics. Beware simplistic solutions and simplistic comments. Our values and morals are simple and clear - empathy, the golden rule, bravery in defense of those who cannot defend themselves .... But the issues are not so simple as can be addressed the way Bush does. For that matter I do not think that Bush's backers are that simplistic. They picked a simple-minded buffoon to credibly represent simplistic notions about complex issues. Chaney knows better but that little wire he has to the hole in Bush's head triggers these 'Well pardner, cum onnnn down to the ranch,' folksy comments that appeal to the fans of Will Rogers and Hank Williams. The 1950's were supremely happy - unless you were black, Indian, an ambitious woman, disabled, poor or had a mind of your own. I am a WASP male. If I could forget the time since then, God would I love to go back to the 1950's. But I can't because that was a dream - pink hypocrisy Bush is one of those empty cadavers in 'Body Snatchers.' Every time he says anything that he thinks is pithy or substantial, he stares unfocussed into the camera with this, 'How'd I do mom,' insecurity in his eyes. Someone gives him an M&M and he comes back later to do it again. Please USA, may God grant you the ability to see you as others see you.
  24. Karl Rainer from Nanaimo, Canada writes: The moment you stop worrying about the economy, you virtually guarantee economic difficulties in the future. It's what got them into this mess in the first place. Sigh.
  25. John Smith from Support ONT Bill 93, Canada writes: I love this. BHo is calling on Bush to borrow more money so people will keep spending. Didn't Bob (I ran up a huge deficit as NDP Premier of Ontario) Rae try this move? We all know how that worked out, don't we. I pity the USA if BHO gets elected. If BHO's stewardship of the Chicago Annenberg Challenge is any indication of BHO's abilities to stimulate the economy, the USA is in huge trouble.
  26. Joe V from Canada writes: Is it any surprise that when you print money, the economy, as measured in dollars, 'grows'? With the amount of new money that has been created, the dollar value of the economy should have grown much more than 3.3%.
  27. Aaron S. from New England, United States writes: Bush says the moon is made of cheese.
  28. Volatility Stalker from Canada writes: [ Is it any surprise that when you print money, the economy, as measured in dollars, 'grows'? ]

    Yes that would be a suprise. Printing money does not make the economy grow.

    In the case of the United States - there is a money supply contraction that has been going on for months. In recent years, money supply growth in Canada, Europe and emerging markets has exceeded the American.

    3.3% GDP is pretty impressive when everyone was expecting a collapse. Q3 will probably be very weak - a number the bears can gleefully shout about - but the recovery will already be under way as is always the case at bottoms.
  29. just another Canadian from Calgary, Canada writes: Bush says U.S. economy on the upswing. I am sure it will be once Bush and his party are out of office.
  30. Kothar Rumbleg from Canada writes: How long can the Bushinites hide the real numbers? They are finding all ways to keep it hidden until they leave office, the dam is filling with more and more cracks, until the all breaks open.

    The Dems are no better thinking more borrowed money will solve the problem! This only delays the inevitable, pay day is coming very shortly.
  31. Jack Robinson from London, Canada writes: Given der Dubya's elephantine dossier of dumbass... I'm struck by his striking resemblance in both visage and persona to another smirking, Not-To-Worry weasel... the Madcap Alfred E...
  32. Red-necked and persecuted from Canada writes: U.S. GDP growth 3.3% Canada 0.3%
    duh!
  33. bob london from Canada writes: Jack Robinson; making education and 'liberals' in Ontario proud. Duh
  34. Kevin Wells from United States writes:
    No matter how much many Canadians want the USA to become a 'failed state' it won't happen.

    Our economic growth is putting yours to shame.

    And you are a few people, sitting in a larger country, full of oil, and other natural resources.

    And you can't do any better than this?

    Pathetic dudes.
  35. The Wight from Canada writes: The question is not whether it is true or not ... the question is timing. Every major US election, the Bush Administration has trotted out the good news. In 2004, the killed the AQ strategist, Al Zawahiri and captured Saddam ... just before the election. In 2006, they killed Al Zawahiri a second time and executed Saddam ... just before the midterm elections. In 2008, they killed Zawahiri a third time (just his May), announced that troops were coming home and that the economy is rebounding ... just before the election. I, for one, don't believe the administration one iota.
  36. Tom Araxias from Chatham, Canada writes: Kevin Wells from United States writes:
    No matter how much many Canadians want the USA to become a 'failed state' it won't happen.

    Our economic growth is putting yours to shame.

    And you are a few people, sitting in a larger country, full of oil, and other natural resources.

    And you can't do any better than this?

    Pathetic dudes.

    PROFOUND WORDS FROM A DEAF, DUMB AND BLIND MAN. I BET YOU WISHED BUSH COULD HAVE A THIRD TERM, DON'T YOU, YOU MINDLESS DULLARD.
  37. The Bubble from Canada writes: We would be able to do what we wanted if we didn't have a problem with being murderers, torturers, thieves and liars like the Americans. A society founded on slavery which continues with the slavery of third world countries. America is a cesspool and Canadians will soon rid ourselves of Bush's branch politicos here, namely Harper and the Harpies. America cannot criticize anyone, they stand alone as the true terrorists of the world. May you all sink in the sands of the mideast, our soldiers and the poor souls who had no choice but to join the army in the USA have died for nothing. Rot in he11 all of you, Obama, however, did give a great speach, lets hope he pulls through and the KKK gets smashed for good.
  38. Kevin Wells from United States writes:

    Tom Araxias from Chatham, Canada writes:

    OKay Tom, you're a tough guy. I'm looking at your growth. It's been hovering around recession levels. PUlled out by the skin of your teeth. with some 0.2% growth rates.

    You have a country larger than mine, few people, sitting on some of the world's largest deposits of every imaginable resource, the largest consumer market in the world right next door to buy all your crap.

    And the numbers cited by your major news publications, news publications around the world say what???

    They say you can't get it done.

    LOOK I'M A TOUGH GUY.

    What a weasel.
  39. Kevin Wells from United States writes:

    OOOOH, the Bubble has read that the USA once had slavery. You're a smart guy.

    Canada had slavery, too.

    Don't believe me? And I'm talking African slaves, not the your native people.

    Fool.
  40. R. M. from Regina, Canada writes: Bush is absolutely correct for soon he will be gone!
  41. john w from stouffville, Canada writes: Of course it is improving.. everyone knows that 8 years of Bush is finally gone so they are looking forward to it. Clinton may of been frisky but the country was never in better shape
  42. Charles Smith from United Kingdom writes: It wouldn't surprise me if the Americans give the finger to the world and vote in another resounding Republican term.
  43. Wafflehut Guy from Charlotte, NC, United States writes: An administration is smart enough to realize that if you make the electorate think they are prosperous, then no hard questions are asked.

    Before an election, the markets are 'juiced' to favor the incumbent party.

    In Clinton's final year the propping up of the dot com market ended and the Nasdaq fell from 4600 to 1300.

    When Bush leaves the real estate market will slump and the wheels will come off the dollar.

    unfortunately, whoever wins the Presidency will probably think we need another war to distract the citizens and stimulate the economy with another round of massive deficit spending.

    I'm gonna plant tomatoes and raise chickens in my beautifully manicured backyard.
  44. Chris E. from Canada writes: It's not about the U.S. economy, it's the world economy.

    This global pyramid scheme has been constructed, and now the whole scam is about to collapse.

    The only solution they have is for us to keep consuming at past rates, but consumption is falling off. As a band-aid to delay the inevitable, the business lobby will want to move millions of Third World people into the First World, to keep up consumer demand.
  45. Tom Araxias from Chatham, Canada writes: WAKE UP Kevin Wells your GDP number is fabricated. Fiction, a fable, an outrageous lie for 'just know enough to be dangerous' type like yourself.
  46. Red-necked and persecuted from Canada writes: Charles Smith from United Kingdom writes: It wouldn't surprise me if the Americans give the finger to the world and vote in another resounding Republican term.

    That is exactly what's going to happen. The 'free' world cannot afford an Obama. With Iran determined to get the bomb, the Israelis just as determined to stop them, Russia and Putin getting grandiose ideas about the return of past glories, the so=called 'civilized' west caught up and buying into global warming fabrications, running out of oil with no real viable alternatives in sight (despite all the rhetoric), AIDs threatening to devour the whole of Africa, Islamic fascism growing exponentially, the world is indeed a very, very scary place and, I for one, do not want to look to an empty suit for salvation.
  47. Rudy Krueger from Canada writes: Kevin Wells - You guys are capable of some pretty big mistakes as are we. I could list for five days on each country. But Geo W has to be amongst the biggest either of us has ever done. Now, if you were somewhere else or didn't matter that much, via con Dios. But Lordy, that is a bird that craps on all our statues.

    Like I said earlier, please get it right next time.

    Also, Canadians do not think ill of the USA or Americans (there may be exceptions of course, we too have nutters).
  48. scott thomas from Canada writes: MISSION ACCOMPLISHED!!!!
  49. scott thomas from Canada writes: MISSION ACCOMPLISHED!!!!
  50. gerhard beck from Canada writes: For once Bush seems to tell the truth. With him gone (hopefully to jail as well) the US economy may recover somewhat. It will be tough especially with the worst national debt ever incurred by any president.
  51. The Wight from Canada writes: Red-necked: _'the world is indeed a very, very scary place and, I for one, do not want to look to an empty suit for salvation.'_ So ... you would turn down one of the most intelligent people to ever run for President for a dolt who almost failed out of the West Point class his Dad got him into? That's some smart decision making, there. Put an idiot on the button.
  52. Red-necked and persecuted from Canada writes: gerhard beck from Canada writes: For once Bush seems to tell the truth. With him gone (hopefully to jail as well)

    Where do you get that weed? Pretty good stuff eh?
    George W, in five to ten years, will be seen as a visionary, as Ronald Reagan is today. Remember, you heard it here first - from the REDNECK.
    Don't Bogart that joint my friend, pass it over to - another sixties wannabe hippie that, though there, probably missed the whole 'free love' thing and. four decades later, is still looking to get laid without having to pay for it. Good luck in that eh!
  53. Red-necked and persecuted from Canada writes: The Wight from Canada writes: Red-necked: 'the world is indeed a very, very scary place and, I for one, do not want to look to an empty suit for salvation.' So ... you would turn down one of the most intelligent people to ever run for President for a dolt who almost failed out of the West Point class his Dad got him into? That's some smart decision making, there. Put an idiot on the button.

    Obama is lost without the teleprompter and cannot think on his feet. Excellent reader of others' words and thoughts though! McCain will have his lunch in future debates as will Palin have Bidens. Watch. Learn.
  54. tom johnson from MISSISSAUGA, Canada writes: U.S. President says Americans may soon be able to stop worrying about the economic health of their country.

    YES, THINGS WILL IMPROVE SOON: THE BUSH DAYS ARE NUMBERED AND NEARLY OVER, THINGS WILL IMPROVE SOON!!!!!!!
  55. Mo Friendly from Edmonton, Canada writes: They're trying to hold the house of cards together until the election, to give McCain a better chance. We had a similar 'stimulus package' here in the form of energy rebates. It succeeded in buying votes for one of the worst governments in North America. (Alberta has a real deficit in billions being left off it's books while exporting vast quantities of energy resources for pennies on the dollar, claiming a surplus, and building a slush fund for additional 'stimulus packages') It worked here, It could work in the US too. It was easier here because of the vast cashflows even our pitance of a royalty regime gave our cronies. It's also made more difficult for the US with Russia, Iran, China and other enemies knowing the score. The question is who they want the next president to be, and whether or not they can afford to pay more to oil. China can't afford oil. Russia and Iran would be happy to see the US pre-election plan fail since they're exporters of oil. I expect oil to come down hard some time in September. Good luck placing your bets!
  56. The Wight from Canada writes: Red Necked: _'Watch. Learn.'_ I have. I've watched some really interesting clips of McCain on youtube making mistake after mistake after mistake and getting corrected by his staff while making speeches. In one, he even got short with his staff member for correcting him. I compare that to Obama's life Q&A sessions (he does have them, you know) like he did in KC and it's like night and day. McCain looks old, befuddled and cranky. I don't have anywhere NEAR as much faith in McCain's debating ability as you do. Palin? Maybe, but with no foreign policy experience, that is Biden's debate to lose. He could blow her out of the water with one well-timed crack about being a small-town mayor.
  57. The Wight from Canada writes: Mo Friendly'' _'China can't afford oil.'_ China holds 900bn in USD in the bank right now. That's a lot of oil.
  58. Pohaku Pohaku from United States writes: The screw in the works is going to be the destruction from the hurricane that is fast approaching the Gulf Coast... If it hits New Orleans, it will flood again, as the levees are not upgraded yet. It will change the whole equation.
  59. Major Pain from Canada writes: Nice to see Bush still has a clear and close-up view of his own prostate.
  60. David C from a constant traveler from, Canada writes: 3 more months of this fellow, then hopefully someone with intelligence and the ability to think for himself will take over the reigns. The short term upswing has to do with the $600 cheques the government sent to every one at the cost of forcing the country even further into debt. It was a hop before a large fall...
  61. Wafflehut Guy from Charlotte, NC, United States writes:
    google: Working Group on Financial Markets

    aka: Plunge Protection Team

    P.S. wanna buy a bridge in brooklyn?
  62. Red-necked and persecuted from Canada writes: The Wight from Canada writes: Red Necked: 'Watch. Learn.' I have.

    Ok, we can agree to disagree. We'll all see soon.
  63. Mo Friendly from Edmonton, Canada writes: Rudy said.. 'The Economy' is the people working, buying, getting sick and recovering health, volunteering, mothering and fathering.... True to an extent, and Americans productivity doesn't match up to their prosperity. Neither does their health. 'The Economy' is also based on international trade and credit. In those areas the wealth enjoying by americans doesn't add up. The difference is explained by what you discounted in your statement. The threat of military force, the pricing of Oil in US dollars. If you can't understand how currency works, it doesn't negate it's influence... To the Wight, point taken. You missed the message but found a crumb to dispute. I was trying to keep my previous post brief. I meant that China doesn't want an increase in the price of oil. They're heavily subsidizing oil and other commodities. As far as the currency they hold, you make my point further for me. As holders of US currency it is in their interest for the US dollar to strengthen. Which is exactly what the Fed is trying to do and succeeding at) to push the price of oil down.
  64. Kim Morton from Canada writes: ONE OF THE FEW TRUTHS TO COME OUT OF HIS MOUTH. Simply because in november the US will remove him and his party from office and elect the democrats to undo the mess junior made of their economy and finances to support Slick Dick and his oil company.
  65. Vote NDP in the next federal/provincial election from Toronto, Canada writes: Dont be fooled by this headline. The long-term economic health of the US looks extremely grim. This is because US is relying too much on short-term economic measures which will fail if investments and proper budgeting aren't in place for long term economic growth. Too bad GW Bush doesn't know how to plan for the long term.

    This headline should be changed to:US economy on the upswing because of the wealthy and GW Bush's policies
  66. Democrats - '08 - Liberals - '08 The return of prosperity to North America! from Canada writes: .

    Bush also said there were weapons of mass destruction in Iraq.

    Enough said.
  67. Silver Standard (Used to be gold) from Canada writes: Bush is out of his mind, those numbers are phony..its just too obvious.
  68. skenderbeg begger from Albania writes: what ?!?! is it 1st of april already ???
    how come nobody woke me up.....
  69. Festina Lente from United States writes: Whether the American Bashers like it or not, it is inconceivable and out of numerical cognition that Obama will win this election. The myriad of reasons are so numerous and the obvious ostentatious free ride of the press for Obama is over. The tough questions will be debated and I look forward to the debate of Biden vs Palin. One, the experienced old boy of 36 years of doublespeak for this cause and then against it. He and McCain have more in common with gaffes but alas, the young Alaskan guv is a new breath of fresh air with more executive ability than Obama and Biden combined. This is not at all speculative but is based on proven ability. As to the economy, the US non-oil trade deficit has shrunk two fifths since 2002. It is now running at 300 billion a year and is 2.1 pc of GDP! Europe and Japan are contracting. The dollar is rallying because of a collapse of European commodity currencies. It is a race to the bottom for all with the mighty US engine the last to reach it. The loonie is a commodity currency and one of them buys so much less in Canada than a dollar in the US where inflation is also on the rise. The weak dollar is practically a default on the US debt to China. It will likely take several business cycles if the US economy fails...all others already in Hades. Note the bank borrowing in ECB which is done in excess... is semi- illegal according to the Maastricht Treaty. American development of further gas and oil will put the loonie back to 1976 levels. What a howl that will induce in some of the Utopians tax gatherers in Canada! You are already unwinding from the upswing and will fall on dire straits...all for taking such a nasty attitude in the present state of affairs. I wish it were not so because a healthy and vibrant economy is good for all countries. Malcolm McCallum in Florida.
  70. Carl Hansen from Canada writes: Stimulus cheques for everybody. I think I read that the Japanese once tried to stimulate their economy by leaving bundles of freshly printed Yen in back alleys. It didn't work because the found notes were returned to the authorities or simply ignored. American leaders won't have that problem.
  71. Carl Hansen from Canada writes: Festina Lente, I think you mean the CDN dollar will fall to 1996 levels if, and that's a big IF, the USA finds an oil supply. The rest of your post was spot on and I think America is still the most productive country by most measures, although the Chinese really do work harder than all other peoples.
  72. Mo Friendly from Edmonton, Canada writes: McCain has difficulties with consistency. He is competent at reciting the lines his PR staff gave him when he's on the Tonight Show. He is incompetent when his PR staff haven't prepared him with a line. By now he should have all the lines he needs. (If you look at his performances before this campaign you'll see what I mean). I believe his mind is fragmented from trauma. But then so is Bushes' in my view, and he was elected once. Enough Americans are more concerned with how someone looks on TV and 'feels' that McCain has a good chance. He only has to get believably close and the Republicans could steal another election anyways. Wasn't much of a problem when Bush stole it.
  73. Festina Lente from United States writes: Carl Hansen from Canada: Thanks for your response. I must confess I used that date as being the nadir of the loonie and I used it without serious basis. Sorry! Increased production in Canada and the US could hold up both countries. I cite the oil industry in the states as it would provide a tremendous number of jobs and improve the already weakened consumer sector of our economy. I often use the Bakken oil reserves in Kildeer, ND, the site of the largest contiguous onshore oil deposit in North America. New technologies allow drilling to 10 000 feet down and 10 000 feet horizontal. Then it is a matter of injection of water and sand to fracture the fragile rocks with down-flow into vast pools when extraction can be done. Production is already in progress and the town is overwhelmed just like Ft Mac! It's about 38 usd per barrel vis a vis 30 dollars for the mining of tar sands, according to Suncor, which requires vast numbers of catepillars and steam. Both are a little unruly to crack but Texas people love the product. These reserves in Canada and US save a lot of both currencies being exported to the ME as Canada does import a considerable amount of oil and maintain frigates in the Persian Gulf and Arabian Sea to protect the free flow of oil to Europe and North America. I am certainly no whiz on the world economy but I do read the USDOS quaterly magazine, Wall Street Journal, Financial Times and read a lot of Canadian newspapers to stay abreast of world trade. Countries in South America are having some success in competition with Canadian durable exports, especially in aviation with equipment of 100 seats or less. The federal government would do well to mete out some financial support in this arena. I believe it does to some extent already. Cheers. Malcolm McCallum in Tampa Bay.
  74. Peter Kells from Bytown, Canada writes: Mission accomplished!
  75. Dr Demento from Canada writes: Festina Lente from United States writes: "As to the economy, the US non-oil trade deficit has shrunk two fifths since 2002. It is now running at 300 billion a year and is 2.1 pc of GDP!"

    Yes but it is still a huge trade deficit and the trade deficit in oil will continue to grow in spite of the Bakken formation - which extends into Saskatchewan and Manitoba. Production rates from Bakken wells are extremely low compared to conventional oil fields . . .
  76. A B from Calgary, Canada writes: very good news.
    Then our economy will follow up and Canada will feel better.
    Very good news.
  77. dave sharpe from Canada writes: he has to be the biggest dumb azz is the western world, followed quickly by mccain
  78. Dr Demento from Canada writes: Festina Lente from United States writes: "These reserves in Canada and US save a lot of both currencies being exported to the ME as Canada does import a considerable amount of oil"

    Only to the east coast because there is no transportation link from Alberta/Saskatchewan to the Maritimes. Unlike the USA which is a net importer of oil (by a long shot), Canada is a net exporter of oil.

    That fact annoys Malcolm to no end . . .
  79. Misery No one from Angus, Canada writes: Sounds like Flaherty. We EDGED past recession.
  80. Kilgore Trout from So it goes, Canada writes: Mission Accomplished....
  81. Peter Bailey from Canada writes: What a blatant propaganda statement. The war is almost won, economy getting better. Trust me - vote Republican.

    Scary thought - are they actually that gullible down south? I sure hope note. That would be the last straw - I already could not believe it when they were actually STUPID enough to vote in Bust for a second term after they knew what he was really like from enduring the first four years of his destroying their beautiful countryl. One can only hope that Obama actually gets in and starts fixing things....
  82. paul degen from Canada writes:
    LIAR !!! LIAR !!! Pants on Fire !!!
  83. Right said Fred from Canada writes: How this man (BUSH) and his administration have been allowed to continue is beyond belief (ie. should have been impeached). Under this regime the US has been cursed. 9/11 occurred,Iraq war, Afghan war, Abu-graib prison scandal, Guantanmo Bay prison, throwing of Geneva convention out the door, Hurricane Katrina, now hurricane Gustav (divine spite?), credit crises occurs, mass bank failures, mass job losses, massive increase in debt levels, high inflation, world opinion of US foreign diplomacy at all time low, brink of starting new cold war with Russia, Iran nuclear, North Korea nuclear, energy crises oil/nat gas prices out of control. If you just look at all this, I don't think so much bad news happened in 8 years of any president in the last 60 years! And this guy says, things are on the uptick!
  84. Chuck the Canuk from haha land, Canada writes: LOL... Good propaganda joke just before the Republican convention, eh? hahahaha. The repubs will do and say anything to get elected again to hide the crap that Bush and Cheney have commited. They always have things that suddenly appear from nowhere, outright lies or plain old twisted truth, just in the nick of time for the Repubs to capitalize on it. Hmmmm. Coincedence? methinks not.
  85. Ryan Ginger from Canada writes: An utterly laughable assessment of the US economy by George Bush.
    "Mission Accomplished!" right?
  86. Red-necked and persecuted from Canada writes: 2nd quarter GDP growth 3.3% in the U.S.A.
    Canada 2nd quarter GDP growth 0.3%.
    And you think George Bush is stupid?
    Get a grip on reality people!
    The US (George Bush) is eating your lunch and you're blissfully unaware it's happening. Liberal fools have been underestimating Bush and Co. since day one and continue to do so to this day. He's smarter than the average (you) bear, Boo Boo.
  87. Hendrick Larose from Canada writes: Right said Fred from Canada writes: How this man (BUSH) and his administration have been allowed to continue is beyond belief (ie. should have been impeached). Under this regime the US has been cursed. 9/11 occurred,Iraq war, Afghan war, Abu-graib prison scandal, Guantanmo Bay prison, throwing of Geneva convention out the door, Hurricane Katrina, now hurricane Gustav (divine spite?), credit crises occurs, mass bank failures, mass job losses, massive increase in debt levels, high inflation, world opinion of US foreign diplomacy at all time low, brink of starting new cold war with Russia, Iran nuclear, North Korea nuclear, energy crises oil/nat gas prices out of control. If you just look at all this, I don't think so much bad news happened in 8 years of any president in the last 60 years! And this guy says, things are on the uptick!
    =========================================
    He was reelected after 4 years so clearly he had many supporters after the first 4 years despite all the troubles you cite. Some will say that reflects on the intelligence of the Americans. I prefer to assume that democracy was exercised and Bush was a better choice from the US perspective. Don't forget that the spin machines are equally effective in demonizing Bush as supporting him. At the end of it all I doubt that Gore or Kerry would have done any better. It would be healthy to get Obama in so that people could se first hand how anemic leadership is in resolving the difficulties of the world today no matter which party they belong to. I think Bush was outmatched by the challenge but think any leader would have been.
  88. Dr Demento from Canada writes: Hendrick Larose from Canada writes: "At the end of it all I doubt that Gore or Kerry would have done any better."

    What a crock - an organ-grinder's monkey could have done better . . .
  89. Lyn Alg from Canada writes: '..The U.S. economy is improving...., The Iraqi war has been won by the Americans...., Brownie, you did a heck of a job..... Yes, Georgie-boy, there really is an Easter Bunny. Believe me, you can take my word for it !
    LOL.
  90. Red-necked and persecuted from Canada writes: God, some of you are dense. Facts is facts. We're in rougher shape than they are.
  91. Dr Demento from Canada writes: Red-necked and persecuted from Canada writes: "Facts is facts."

    Someone who can't even post using proper grammar is hardly in a position to call others dense . . .
  92. Hendrick Larose from Canada writes: Dr Demento from Canada writes: Hendrick Larose from Canada writes: "At the end of it all I doubt that Gore or Kerry would have done any better."

    What a crock - an organ-grinder's monkey could have done better . .
    ============================================

    I stand by my statement and I think its horrible that you consider Kerry and Gore less capable than an organ grinders monkey although I have to agree with you.
  93. Kevin Wells from United States writes:
    Demento can't stand it.

    By now, he thought the USA would be on the list of "failed states".

    Washed up.

    DEMENTO: If you ask me your own country has nothing to brag about. Where are the smart people who should have seen the mortgage crisis coming?

    Why are you so dependent on the USA to support your own economy?

    Why, with HUGE natural resources, the largest consumer market in the world right next door, very few people relative to an ENORMOUS land mass, stable political system - due in part to the USA.

    WHY are you experiencing your current economic problems?
  94. Alastair james Berry from Nanaimo BC, Canada writes:
    Tomorrow is 1ST SEPTEMBER 2008.................

    And SEPTEMBER 2008 was the month forecast to see a melt down of the USA's Economy (with revolution,concentration camps and shelters for politicians as dire consequences) at the 'SECRET SESSION' of the US House of Representatives held 13 March 2008.
    (GOOGLE: 13March2008 Session)

    The British Economic picture is the worst in the LAST SIXTY YEARS, or so says the UK's Chancellor ot the Exchequer..................

    There is a saying "AS GOES GENERAL MOTORS, SO GOES THE USA"

    Well G.M. is SICK if not quite on it's last legs! And, like the USA itself, has lost it's position of WORLD LEADER.

    BUSH, the delusioned, proclaimer of "MISSION ACCOMPLISHED" is a example that proves the old saw "If Ignorance is Bliss, T'is Folly to be Wise!" Let him enjoy his dreams.

    Thankfully, he will soon be 'put out to pasture'.
  95. PC Montreal from Canada writes: I am hard-pressed to understand why so many people believe that Obama can make everything ship-shape?? I was on board with Obama in the beginning, but now when I see him speak, I'm afraid of what he may do. He's very non-specific but he says all the things Americans want to hear -his audience looks spellbound and the whole thing at the convention struck me as cult-like. Not that I think McCain is a better choice, but honestly, don't wish for the moon people....the world may be in for some shocking surprises if Obama wins, and not all of them good.
  96. Is there anybody out there? from Salt Spring Island, Canada writes: Did you hear something? Good riddance Bush/Harper.
  97. William Doyle from Prince George, Canada writes: It would appear that bush is off his drugs again! At the same time he says stupid things whether he is on them or not.
  98. J Kay from Canada writes: Kevin Wells: I know that often you simply come here to stir the pot and fling a bit of poo but you should most certainly know the answers to your rhetorical questions. At least I ould hope you, I wont insult your intelligence, unless I'm grossly underestimating you by explaining the answers.

    Now concerning your comment about the US kicking Canada's butt, I hardly think one should get smug about one quarters worth of growth. In fact from 1995-2007 Canada's real GDP growth and real GDP growth per capita LED the US (2.22% vs 2.01%) . Also from 1960 - 2007 Canada again led the US though by a smaller margin of 2.21% vs 2.19%, in real GDP per capita terms. So you can have the one quarter of better growth Kevin, Canada will do quite fine I think.
  99. Kevin Wells from United States writes:
    J Kay, I've no doubt Canada will do quite fine. Especially since your economy is so incredibly tightly intertwined with the USA's economy and I know it will do quite fine.

    That wasn't my point.
  100. J Kay from Canada writes: Kevin Well: No I know that your entire point was to fling some poo t Demento and do that dance you two do. It's entertaining and all to a point.

    As I said, I suspect you know the answers to your rhetorical questions framed at the bottom of your comment and thus I didn't feel the need to respond to those.
  101. Dr Demento from Canada writes: J Kay from Canada writes: "Kevin Wells: No I know that your entire point was to fling some poo t Demento and do that dance you two do."

    You got it J Kay - Wells is an American who trolls Canadian newspaper website forums looking for arguments with any Canadian who dares criticize the record of the US government . . . he must live a dull life . . .