Others would disagree with your thesis:

http://harpers.org/archive/2008/01/hbc-90002247

>I hardly think our economy is on the edge of collapsing. You've got to understand the economics of a Presidential election year. Don't believe everyting you read. Compare our unemployment rate with France. The housing market is choking on sub-prime loans because of greed and fraud, not George Bush.
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>I really think those who live in societies that are much smaller and/or with much more managed economies may over-estimate the effect presidents ( and even congress ) have on the US economy. By this logic, Jimmy Carter - who the rest of the world loved because of his flaccid foreign policy - should not have presided over 22% interest rates. Bill Gates contributed more to the prosperity of the 90s than Bill Clinton ( whose major achievement was to leave Alan Greenspan in place. )
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>Bankers - and specifically the Fed , currency speculators, junk bond traders, international cartels and just natural market fluctuations have a lot more to do with our economy ( and yours ) than weather or not 'public opinion' in Europe likes our president or not.
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>Shell Oil probably has more to do with the Dutch economy ( at least with the finances of the Dutch royal family <s> ) than anything your politicians do.
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>Ironically, if we had really fought a 'war for oil' we'd be in pretty good shape. Unfortunately, we opted for nation building rather than old fashioned conquest ( where the Iraqis would have been sold to the Saudis by now as labor to replace the Filipinos and Indonesians with Arabic speakers ) and all the oil would be coming our way for $10 a barrel <g> If we were as evil as people think we are we'd be rich <s>
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>>>If you think the valuation of the dollar has anything to do with whether or not people feel warm and fuzzy about George Bush you really don't understand how things work. European bankers have a long history of being willing to profit from the devil himself if it made a franc, a mark or a kroner.
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>>GWB has a lot to do with the value of the dollar. Your economy is on the edge of collapsing on the tremendous weight of the death you're in. The thing is that you're not able to see it yet. I agree with tore that what we see here (devaluation of the dollar, the house market, the financial branch on the whole, the consequences of the war against terror etc) normally does not reach the mere american.
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>>Americans are always hopefull and enthousiastic. Thats one thing I admire. We europeans are much more negative (Consequences of the many european wars and two world wars). However americans are also the neglecting realitiy in some respects. It is time for change. We are longing for an american president that is able to get the economy back to the years of bill clinton. If not, the US will lose its position to a new rising power: whether thats in europe or Asia.
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>>Walter,