Lowness

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A new Gallup Poll reflects further erosion in President George W. Bush's job approval rating, continuing the slow but steady decline evident throughout the year so far. The poll -- conducted Aug. 22-25 -- puts Bush's job approval rating at 40% and his disapproval rating at 56%. Both are the most negative ratings of the Bush administration. Bush's previous low point in approval was 44% (July 25-28, 2005) and his previous high point in disapproval was 53% (June 24-26, 2005).

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At least one House of Congress is ours . . . if we play it right. Link via Oliver Willis.

Why do I feel so optimistic? It's going to cause us some pain (there's always a price), but there's a perfect economic shitstorm a-brewin' and it's gonna make landfall just about election time. Calculated Risk via my man Dave:

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[Director, UCLA Anderson Forecast Dr. Edward E.] Leamer lays the blame squarely on the Federal Reserve for leaving interest rates too low for too long. Now, he says, we're not only heading for trouble in the housing sector, but in the auto industry - another market that got drunk on historically low rates.

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As rates creep higher, consumers happily driving their new cars or living in their larger homes have no motivation to purchase additional ones. Since consumer spending drives two-thirds of our economy, when consumers close their wallets, the impact is far-reaching.

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The Republicans own this, ladies and germs. Just like they own Iraq, they're the only ones to blame for the coming storm. The consequences combined with Chimpy's steadily falling numbers, they have nowhere to hide. It's gonna cause some economic upheaval to a buncha good folks who don't deserve it, but it's gonna break the GOP grip on the Congress. Once that happens, think Impeachment.

Yes, I know I said I was done for the night, but this is it . . . honest.