Bush and his wealthy backers are greed-crazed idiots.  They don't even know what they are doing.  It is like a drug binge, where even if you can remember that last time you ended in a dreadful crash, right now it feels just too good to be thinking about that.  

This scenerio is almost comforting.  

Scenerio II:  

Bush's backers have been running the US for the better part of a century, and not by being dumb, either--even if HE is.  They know they are running a bubble, and they already know when to cash out.  Will it destroy the system?  Sure.  But Peak Oil and climate change are on the verge of doing that anyway, so what's the problem?  The problem is what comes after.  Well, they are not talking about that, but they have certainly been THINKING  about that.  

They already have plans.  

This scenerio is less comforting.  

The Fates are kind.