The numbers are in, the month of June 2008  had  the biggest decline of the US stock market, in a month, since 1930. Are we heading for a crash in the only  sector of the US economy that was still quite healthy, even a few months ago? The Dow Jones has fallen 460 points in the last two sessions and reached its lowest point since September 2006.

A few factors are at play here to create a " perfect storm " for a bad situation to get even worse...a lot worse.

The Bush Administration is trying to tie up the hands of  the upcoming President by entering a so call " US/Iraq Security pact " before they leave office in January 2009. 

Yesterday, David Satterfield, the top State Department official in Iraq, admitted to reporters that one of the stumbling blocks over the long term agreement is due, in large part, to issues regarding the foreign " security contractors ".

Yesterday, the Senate Intelligence committee unveils its final report on pre-war Iraq intelligence.

Once again it shows, in a bipartisan fashion ( 10 to 5), that  " the Bush administration was fixated on Iraq, and used the 9/11 tragedy as justification for overthrowing Saddam Hussein. To accomplish this, top administration's officials repeated statements that falsely linked Iraq and Al Qa'ida as a single threat ."

Senator McCain claims to care and support the troops, yet he is Missing In Action when it comes to voting for a new GI bill.

Last week, on Thursday, the Senate passed the 21th Century GI bill, expanding educational benefits for veterans who joined the service after September 11 2001. The bill was sponsored, in a by-partisan way, by Sen. Webb, Sen. Hagel and Sen. Lautenberg.

President Bush's official heir cranked up his aggressive rhetoric , over the week-end, towards Hamas. Senator McCain stated: " I will be Hamas's worst nightmare..."

This type of counter productive stance remind us of the one made by President Bush when he told Iraqi's insurgents " To bring it on..." ,a few years ago.