George Bush could indeed end up looking good. He just has to change his mindset, and bypass the idiots that he must have advising him right now.
The reason I call them idiots is that it is an obvious fact that the US is declining in some way.
It is also as fact that it is public knowledge and concern that oil is running out world-wide.

In the past, the US has generally fixed such things as economic slowdown by getting the "Spin Doctors" (That is a fancy name for liars) on Wall Street and elsewhere to buoy up the mood, making the investors invest, and the corporations expand, and more workers get employed, and more goods sold.
Also in the past in the case of material shortages, the policy has been to go to a foreign source, throw money at them, and obtain what is required.

All Bush has to do to gain popularity, and start a trend to secure the future of the US, or at least slow down the US downfall, is to do what President John Kennedy did all those years ago when he set the goal to get a man on the moon.

If he was to make a speech informing the people that there was going to be major investment in wind power, and also investment in solar power, and legislate that auto makers will have to include an electric car as part of their product range by 2011 or whenever, then he could even end up as looking like a hero.
If he added to that some legislation to prevent or reduce corporate fraud, that would help too, but is unlikely.

The major reason that I see as the US position being unrecoverable right now is the failure to even accept what the future will or might bring. There is a problem that is different from just investors lacking confidence.

But overall, if we look at this current behaviour, it is typical of how any large corporation or government department is run in any democratic country - they have a total incapability of determining the root cause of any problem because they have to think in the shorter term, not the far future.

The problem might be that when you ignore a fully foreseen catastrophe, it ultimately creeps up and bites you even harder.

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