Bush to Make Statement on Financial Crisis in the Morning - Will He Use Executive Powers?

reply to post by Gools


I like to think of myself as a fairly rational individual, but I'd be lying if I didn't expect a declaration of National Emergency in the morning.

Under these circumstances, would this really be a surprise to anyone?

Cross your fingers, everyone. Let's hope for the best.

Originally posted by loam
I like to think of myself as a fairly rational individual, but I'd be lying if I didn't expect a declaration of National Emergency in the morning.

I'm with you, Loam. After taking a gander at the latest markets abroad, he'll probably do that as well as suspend all trading.

I believe I read on another forum that the Congress will not be reconvening until Thursday because of the Jewish New Year. This gives two days of trading without an "answer" to the problem.

While I do not believe for a minute that a "bailout" was the answer, a firm up or down vote with no chance of revamping the bill would at least limit the options for an "answer."

reply to post by loam


Right now I would rather be a paranoid alarmist the drives away to his hidy whole and be wrong then the paranoid alarmist that said "it will be ok I'll just wait and see" and then be right....

God knows how hard the roads are gonna be to travel... but I shall find out if Mlaw is declared.

Originally posted by Benarius
....how you do that ?

I see you are new.
Here is everything you ever wanted to know about how to use ATS: Handbook

Back to the topic:

The BBC ticker now links to this story about the stock market plunge and mentions this:


.

[edit on 9/29/2008 by Gools]

reply to post by loam


Well, Looks like I have some grocery shoppin' to do,
And a stop by my local Military surplus store to pick up a few things,
Gas up the ol'car, hunker down and kill the first thing that comes thru my door.

I sincerely hope you're wrong. But I do get a bad feeling about this.THe important thing is this:

Will we as an ATS community have exlusive "I told you so" rights?
I have been sounding like a paranoid tin-foil hat wearin' lunatic for a couple of years now and a part of me wants him to declare a national emergency so I can say [cough] "I told you so"!!!!!!!

Scary thoughts list.

Market is in shambles and falling.

There is a SERIOUS gasoline problem in the southeast.

The army is coming home for home patrol.

Pelosi declared Congressional martial law.

The bill that was supposed to pass did not pass because those that were pushing for it voting against it.

Congress will reconvene thursday the day after OCT 1st.

Bush will address the nation tomorrow morning.

For whatever happens It is a perfect two day time frame to activate the RED AND BLUE LISTS!

..........

Panic!

Here is an article that discusses what can happen next.

biz.yahoo.com...

One thing the article mentions at the end is already happening with the Fed pumping out more money so perhaps some of the other options mentioned will also occur.

I agree with the article saying that the markets will have wild swings as investors get nervous over negative news and optimistic when some positive move is made. I also agree with what another poster said he/she believes Pres Bush will announce tomorrow but only up to the part where he is disappointed. I believe that rather than declaring Martial Law, he will attempt to "calm" the public or, more accurately, suggest that investors not panic while other measures are attempted to help quell the blood letting. He's been routinely criticized for taking a "background" approach to the financial crisis so I believe he will attempt to step a bit more into the spotlight by continuing to offer "encouragement" via these types of national addresses. What impact, if any, his words might have remains to be seen.

I seriously doubt Bush would even be so dumb to declare martial law, yes the dow dropped in it's biggest loss ever, but speaking in percentages it was still 9% off what happened when the stock market crashed in the 20's.

I just cant see him getting away with it so early in the game as of yet.

Here is information related to the National Emergencies Act.

The National Emergencies Act (50 U.S.C. 1601-1651) is a United States federal law passed in 1976 to stop open-ended states of national emergency and formalize Congressional checks and balances on Presidential emergency powers. The act sets a limit of two years on states of national emergency. It also imposes certain "procedural formalities" on the President when invoking such powers, and provides a means for Congress to countermand a Presidential declaration of emergency and associated use of emergency powers.

...

There were 32 declared national emergencies between 1976 and 2001.

I will pose this question for those who are watching this thread. Say everything goes to hell in the morning and Bush does declare a state of emergency.

How many other countries do you believe will follow suit in this action. I do truely believe that what happens in the state happen in my country Canada, and giving the fact that our PM is nothing more that a junior Bush. Do you think it's plausable that Canada would go under the same type of Martial Law?

I mena giving the fact that the new law passed between out two countries states in time of martial law our armies are free to cross our borders to help with policing of each country.

Am I just being paranoid or does that seem plausable to some here?

(For the record I still dont believe martial law will be declared tomorrow, but i like to keep all my options open)

reply to post by cbass


Indeed! I too want a share of those "told you so" rights!

Notice the distinct lack of posters that used to crow how this would never happen, the US is too mighty, etc etc....

It was just a matter of time before the whole house of cards came crumbling down

reply to post by Trayen11


Technically, I think a Declaration of National Emergency is different from a Declaration of Martial Law.

I'm not convinced the latter is going to occur.

Now in Canada, the political situation might be quite different. Someone else will have to weigh in there.

I'm trying but can't find any mention now at all, of him making a statement or address. Maybe that's because the don't want people to know he's making a statement until after he makes it? Did BBC jump the gun again? (tower 7)

Calm down everyone. Take a few deep breaths.
He is most probably going to:
1.) Announce what most people already know, namely that the Fed has printed up $630,000,000,000 to release to the banks to ease the cash flow. I posted this information on the Emergency Economic Stabilization Act Thread several hours ago.
2.)Ask for a bipartisan effort to come up with a bill that is acceptable to the American Public.

I think too many people have been listening to Alex Jones. I saw the sun set tonight, and I assure you that the sun will rise tomorrow, and the world will not end. What we need to all do is remain calm. The crooks tried to sell this Bill with FEAR. They are now using the MSM and their minions to convince you that their bill must be resurrected. Don't fall for the trap. The markets will eventually recover, but not before the trash is swept away. This correction needed to be done. Remember, the same crooks that caused this problem hold millions of shares of their companies. They will not let this continue. They are just having a hissy fit, like a child that did not get his/her way. The rich have temper tantrums often, much more than the common man.

reply to post by StrangeBrew


Me as well, i looked for a bit, but was unable to see anywhere that buch is planning on adressing the nation tomorrow. Could this just be people getting a bit ahead of themselves?

reply to post by mrwupy


That is true but if he uses the executive power and gives the Secretary of treasury the power as the original bill wanted, congress can not do anything and Paulson and Bernanke can do what they wanted with the 700 billion dollars and no court can challenge it.

This interesting.

I think I will go with him stopping all trading in the US markets until the bill is passed.

This is a test of the emergency broadcast system. This is only a test.
Beeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeep.

This is a test of the emergency broadcast system. This is used to broadcast news and information about an emergency. If this had been a real emergency, the tone would have been followed with news and instructions. (like which cattle car you need to be in, and how you need to go because it's "for your own good", or for the "good of the Nation")

This concludes the test of the emergency broadcast system.


Excessive? I dont really believe so; I've read enough, seen enough, and decided enough that I really think I can see the writing on the wall. Panic? Nah...just be SMART about what you do, and whom you do it with.
I can tell ya, I personally lost eight grand out of my retirement fund over the past three weeks...not cool...not cool at all...heck- screw the money, this is about everything we have been thriving on and speculating about in these threads starting to happen. I will wait, I will watch, I will bug out when the need arises...
Be Well.

EXECUTIVE ORDER 11921 allows the Federal Emergency Preparedness Agency to develop plans to establish control over the mechanisms of production and distribution, of energy sources, wages, salaries, credit and the flow of money in U.S. financial institution in any undefined national emergency. It also provides that when a state of emergency is declared by the President, Congress cannot review the action for six months. The Federal Emergency Management Agency has broad powers in every aspect of the nation.

EXECUTIVE ORDER 11051 specifies the responsibility of the Office of Emergency Planning and gives authorization to put all Executive Orders into effect in times of increased international tensions and economic or financial crisis.

www.disastercenter.com...

www.theforbiddenknowledge.com...

[edit on 29/9/2008 by kosmicjack]

Originally posted by trek315

I agree with the article saying that the markets will have wild swings as investors get nervous over negative news and optimistic when some positive move is made. I also agree with what another poster said he/she believes Pres Bush will announce tomorrow but only up to the part where he is disappointed. I believe that rather than declaring Martial Law, he will attempt to "calm" the public or, more accurately, suggest that investors not panic while other measures are attempted to help quell the blood letting. He's been routinely criticized for taking a "background" approach to the financial crisis so I believe he will attempt to step a bit more into the spotlight by continuing to offer "encouragement" via these types of national addresses. What impact, if any, his words might have remains to be seen.

As much as I think a National Emergency will be declared in the near future, I think the above post is the most accurate depiction of what will happen tommorow. When the real Emergency happens, it will blindside people and not have people's attention. Because of instant communication, I doubt they'd give us a head start.

reply to post by althea041724


My friend I feel your pain, my husband refuses to even check on the state of his retirement account as he doesn't want to know how bad it is.