McCain’s ‘Econ Brain’: America Has ‘Become A Nation Of Whiners’ And Is Just In A ‘Mental Recession’
McCain’s ‘Econ Brain’: America Has ‘Become A Nation Of Whiners’ And Is Just In A ‘Mental Recession’
In an interview with the Washington Times today, former senator Phil Gramm, who is Sen. John McCain’s (R-AZ) “econ brain,” blamed the state of the economy on “the conviction of many Americans that economic conditions are the worst in two or three decades.” “You’ve heard of mental depression; this is a mental recession,” said Gramm.
Gramm decried the “constant whining” of the American people when it comes to the economy because he believes “we’ve never been more dominant”:
“We have sort of become a nation of whiners,” he said. “You just hear this constant whining, complaining about a loss of competitiveness, America in decline” despite a major export boom that is the primary reason that growth continues in the economy, he said.
“We’ve never been more dominant; we’ve never had more natural advantages than we have today,” he said. “We have benefited greatly” from the globalization of the economy in the last 30 years.
Despite McCain’s recent claim that we are in a recession, he has previously echoed Gramm’s diagnosis of the economy. In April, McCain said that “a lot of our problems today, as you know, are psychological.” Watch it:
At the same time he was blaming the state of the economy on the economic anxiety of the American people, Gramm also blamed the media. “Thank God the economy is not as bad as you read in the newspaper every day,” said Gramm.
Blaming the economy on the media is a common McCain campaign strategy. In June, McCain econ adviser Kevin Hassett claimed that the press wants to “convince everyone that the economy is in recession” in order to hurt McCain. Informal McCain adviser Karl Rove argued in February that the economy “stinks” because of the media.
UPDATE: Watch Phil Gramm’s “whiners” remark:
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Exactly what are we exporting other than cigarettes and weapons????
July 9th, 2008 at 6:32 pm“You’ve heard of mental depression; this is a mental recession,” said Gramm.
So it’s not just Grampy. The whole damn campaign is delusional.
July 9th, 2008 at 6:33 pmNo Phil, the leadership of the Republican Party has a mental recession. The U.S. economy from all indications is likely in or nearing a real one.
July 9th, 2008 at 6:35 pmbonzo 1958 Says:
Exactly what are we exporting other than cigarettes and weapons????
Hey! Don’t forget BushCo’s version of NeoCon Democracy!
I hear they are standing in line in the ME to buy it.
July 9th, 2008 at 6:36 pmIts easy to think the economy is fine when your trophy wife is worth a $hit pile of money.
July 9th, 2008 at 6:36 pmI wish the idiot was right about US dominance. I could probably afford another trip to the UK, but with the pound worth twice what the dollar is. . . hell, I can’t afford to go to Canada.
July 9th, 2008 at 6:36 pmbonzo
Our primary export at the moment appears to be jobs.
July 9th, 2008 at 6:37 pmHey!our friendly Stock market just sucked another coupla grand out of your 401K today, DOW down 237, Nasdaq off nearly 60 and S&P -29.
Heckuva depression we’re heading into, and still pissing away 12 billion a month. Now that’s a loada urine.
July 9th, 2008 at 6:37 pmImagine Thomas Jefferson or Ben Franklin hearing this crap. ‘Ol Ben would probably say that America’s national identity is more suited to his suggestion, the turkey, after all.(With due respect to the noble turkey.)
Or the Chickenhawk.
Or, after the last 8 years with the republicans…the Dodo.
July 9th, 2008 at 6:41 pmsays the guy who wants the guy who basically signed the mortgage crisis into law back in the 90’s as Secretary of Treasury…
July 9th, 2008 at 6:42 pm“We have benefited greatly” from the globalization of the economy in the last 30 years. – Phil Gramm
He means he and the rest of the richest 10 percent have benefited greatly.
It is common for the ruling class to present their interets as synonymous with the interests of the rest of society.
July 9th, 2008 at 6:45 pmO.K. It’s official. The parents of these idiots either had them lobotomized or gave them solid lead pacifiers.
Their ability to look at a goat’s a$$, and call it a diamond, falls outside the range of normal human cognitive abilities.
July 9th, 2008 at 6:46 pmRight.. So someone who’s been laid off, is losing their home to foreclosure and bankruptcy, who dares speak out about it, is whining.
July 9th, 2008 at 6:46 pmRucking Fidiculous.
Methinks that Mr. Gramm has the sort of mind that would give Mr. Cheney a run for his money.
“Let them eat cake.”
July 9th, 2008 at 6:47 pmJ Says:
And don’t forget the damage that was done by the S&L failures and the Keating 5 issues. Ol’ Johnny Boy has his fingerprints all over this issue.
And, of course, so does Neal Bush, Dubya’s little arsehole brother.
July 9th, 2008 at 6:48 pmbonzo @#1 ~ I’ve got orders from Iran for 12 brand new LyingBastard-O-Meters!
July 9th, 2008 at 6:48 pmFormer Senator Phil Gramm, Senator John McCain and President Bush have conspired to create the completely unregulated electronic oil futures trading market, which has driven up the price of oil to absurd levels… These three economic traitors should be in jail for fraud and associated crimes against the American people.
We’re being ENRONed again: this time by oil futures contracts speculators who are unnecessarily and very profitably driving up the price of crude oil and hence retail gasoline prices. Curious as to why you are suddenly paying over four dollars a gallon for gasoline? No, it’s not due to “supply-and-demand,” no, it’s not due to “OPEC,” nor is it due to “peak oil.” It’s due to totally unregulated electronic oil futures trading in world markets. Check out the very lucid article that explains the unseen financial machinations in oil futures markets written by F. W. Engdahl on May 2, 2008, entitled, “Perhaps 60% of Today’s Oil Price is Pure Speculation.” It may be viewed at .
http://www.financialsense.com/editorials/engdahl/2008/0502.html
In a nutshell, he suggests that the Bush Administration dropped the ball in January 2006, when they allowed totally unregulated electronic trading of oil futures contracts in New York. Previously these electronic trades had been made at the London Intercontinental Exchange (ICE) Futures Market. With that decision by the Bush Administration, all of the world’s oil prices were then opened to upward pressure from speculative futures contracts. In essence, oil futures contracts made by speculators, banks, hedge funds and pension funds all competed with real demand on the spot markets and had the effect of driving up both wholesale oil prices and retail gasoline prices. Speculators have made billions of dollars on their trading of oil futures contracts. All of their profits come right out of our pockets.
Even with a stable oil supply, there is a slow worldwide increase in demand for oil, which creates a long-term upward pressure on oil prices. However, with the relentless saber-rattling and war-mongering by Bush and Cheney in the last several years, and the more recent war talks by McCain and the Israelis, the oil futures markets are rife with speculation and paranoia. This war talk keeps ratcheting up the prices on the oil futures contracts and hence the wholesale spot market prices. It is an endless spiral of greed and paranoia.
As long as there is no tough and effective oversight of the electronic oil futures markets by the Bush Administration, the oil prices will climb endlessly. These oil prices will be quickly followed by hikes in the retail gasoline prices at the pump. The 60% speculation share of the $4.25/gallon gasoline price, is about $2.55/gallon, which is what we consumers are paying to these oil speculators as a “service fee.” Not a bad “fee,” since the speculators produce no usable goods or services…Just a few large greedy oil futures traders helping themselves to your gas money.
Without this added-on oil futures “service fee,” you would be paying about $1.75/gallon for gasoline. Write, call or smoke-signal your Representatives and Senators today and suggest that they read the June 2006 report by The U. S. Senate Permanent Subcommittee on Investigations entitled, “The Role of Market Speculation in Rising Oil and Gas Prices.” Then demand that they investigate and then force the Bush Administration to firmly regulate the computerized oil futures contracts trading in New York, London and Dubai.
This electronic oil price futures scandal is costing US drivers about $969,000,000.00 per day! That number is based on 60% speculation fee of a gasoline price of $4.25/gallon and on US 2004 consumption of 380,000,000 gallons/day. Tell you Senators and Congresspersons to simply shut down this unregulated electronic oil futures contract trading market. Then the price of gasoline will slowly drop to about $1.75/gallon…The only way that oil price futures contracts make money is if the price of oil goes up in the future, say, 30, 60 or 90 days later. This futures market serves no social need. It is just for corporate greed. The corporate speculators are probably also gaming/ENRONing the wheat and corn futures markets the same way.
July 9th, 2008 at 6:49 pmOMG, they just keep insulting the voters. And they think this is a good idea? They want me to think that it’s all in my mind that I had to take a $20,000 a year cut in pay to still have a job. It’s all in my mind that filling my gas tank now costs more than two weeks of groceries. And then the increased cost of the groceries is all in my mind too.
I am so sad today I can hardly think. Then to be insulted by the McCain people just makes things that much worse.
July 9th, 2008 at 6:49 pmLet’s see if I understand this correctly. The media is responsible for all the layoffs, and businesses closing down? The msm is responsible for a lot of things, this just doesn’t happen to be one of them.
Oh, and btw, a lot of those Americans you’re calling “whiners” are republicans that have just lost their job. Keep it up.
July 9th, 2008 at 6:50 pm“a major export boom”
Yeah. Because the value of the dollar has plummeted. Sheesh, these guys.
Also, it’s easy for wealthy Senators to call the struggles of the middle class and working poor whining. He obviously doesn’t feel the impact in his daily life of the huge increases in the cost of gas, food, and everything else.
July 9th, 2008 at 6:51 pmWhen George W. Bush took the oath of office, the Dow stood at 10,587.
Today it closed at 11,147.
In seven-and-a-half years under George W. Bush, the stock market has climbed exactly 560 points.
Let’s be generous and say that’s six-percent growth. In seven-and-a-half years. An average of less than a percent a year.
How long should it take for the tax cuts to really kick in and send this economy zooming?
July 9th, 2008 at 6:51 pmI don’t think I saw it posted here today but McCain also made a big gaffe today. He said that Social Security is an “absolute disgrace” because the young people paying into the system today are paying for the older people who are getting benefits.
Uh…McCain….that’s the way Social Security works. That’s the way it was designed to work.
I really don’t understand why ANYONE would even think of voting for this person.
July 9th, 2008 at 6:52 pm“We have benefited greatly—”
Where did you get this “WE” shit, Kemo Sabe? It sure as hell doesn’t include me!
July 9th, 2008 at 6:56 pmBilbo Hussein Baggins Says:
I really don’t understand why ANYONE would even think of voting for this person.
July 9th, 2008 at 6:52 pm
One word. FEAR.
There’s still about a quarter of this country who, thanx largely to the televangelists and Rheichwing Media, are afraid that Obama will actually make things worse.
July 9th, 2008 at 7:01 pmMillionaires telling other millionaires that things are not as bad off as ‘we’ feel they are.
Hmmm, that reminds me of a famous Reagan quip from the past: When Ronny was at big dinner with some of his Hollywood friends, Reagan raised his glass and remarked something to the effect of “As I look around the room, I can see we are not in any recession. Do any of you folks feel like we are in a recession?”. Of course, they didn’t feel the recession, but they also didn’t feel anything for the average American worker. We cannot let wealthy politicians tell us what condition we are in, and we shouldn’t elect politicians who believe recessions are caused by the media.
July 9th, 2008 at 7:01 pmIf the SPRs were opened on random occasions for two days at a time, the speculators would be bankrupt in about a week and oil futures would settle down into the 50-70 buck range.
July 9th, 2008 at 7:04 pmNoob17, didn’t anyone ever tell you not to drink and blog?
July 9th, 2008 at 7:07 pmWe just concluded a June that was the whiniest for the Dow and S&P 500 since The Great Depression in the 1930s.
July 9th, 2008 at 7:07 pmMitten was all over TV this morning pumping McCain’s economic solutions like a free whore . . . mentioned a GREAT Social Security cut/savings . . “those people who do not need it” . . .
hmmmmm – would that INCLUDE John McCain who COLLECTS $28,000 in SOCIAL SECURITY each year (on top of the $6 MILLION he “earns” each YEAR)? – that doesn’t even mention his lifetime of FREE medical care (Navy brat-VA-Senate) or VA disability, a Senate Pension collecting for over 20 years service AND Senate salary . . . easy to sit in one of your 8 houses and whine about those folks too stupid to “marry rich” . . .
July 9th, 2008 at 7:09 pmBadmoodman Says:
We just concluded a June that was the whiniest for the Dow and S&P 500 since The Great Depression in the 1930s.
Yeah, I just heard from my whiny 401k. Seems it was designed to increase in value over time, not decrease. Please, to all the citizens and media who are whining my wealth away, please stop. So, according to Gramm, whining makes the world go ’round?
July 9th, 2008 at 7:11 pm#26..LAO.Yah! I’ll counter that and send Jessee the knife, what’s his address..
July 9th, 2008 at 7:12 pmYeah, thank God we don’t have to deal with all those whiners from back then. What a whiny time that must have been.
July 9th, 2008 at 7:12 pmWhat economic miracle are we looking at?
1. Our balance of trade was down by $708 billion dollars. Some improvement over 2006 when we were down $758 billion. But how have we done it? By devaluation of the dollar that the common citizen sees in higher gas prices. Big deal.
2. 95% of the population of this country has seen their income as stagnant or declining during the Bush administration.
3. Those not covered by insurance has steadily increased under the Republicans.
4. Those in poverty has increased during the rule of the Republican cabal.
5. Those getting a higher education has fallen.
6. We now see record mortgage fore closures.
7. We have a negative savings rate.
8. MFG now accounts for 12% of our economy. The financial sector for more than 20%.
9. We have the greatest income disparity between the wealthiest and the rest of the nation since the day of the Robber Barons.
Yes, this is all just in our heads. Do you really think that the press will ask St. John to explain these little discrepancies?
July 9th, 2008 at 7:13 pmralph the wonder llama Says:
Yeah, thank God we don’t have to deal with all those whiners from back then (1930s). What a whiny time that must have been.
– - McCain can give us his first hand recollections of the hand-wringing and whining.
July 9th, 2008 at 7:16 pmWell, I know I’m in a mental recession……it feels real though.
July 9th, 2008 at 7:20 pmIt is always amusing when the rich (who have little experience in suffering) can tell the masses (the one’s suffering) that we are not suffering. Gramm has only shown what a rich jerk he is and have no touch with the reality of the rest of America. Another way of looking at McCain’s cabinet of fools is just to call them, and him, what they really are: Elitist!
July 9th, 2008 at 7:22 pmIf it’s really psychological and not real economic problems, then why do we have these psychological problems under Repubs and not Dems? Could you explain, please?
And when you say “we” are doing fine, do you mean the Fortune 500 or the average American?
July 9th, 2008 at 7:30 pmKeith, it’s not the whole 500. Just the energy industry. As long as the record profits continue everything is going according to plan. This is stupid because the whole house of cards can/will collapse just like the mortgage industry. Yet, they gleefully doom themselves along with everyone else.
July 9th, 2008 at 7:39 pmWhen you are terribly, terribly rich, and blessed by Bush et al to add to your coffers, it is so easy to dismiss the rest of us- middle class, struggling, poor, etc. These rich creeps just don’t get it, because they never do without. Look at McCain- how many houses? A private jet? How many millions? Repubs- the epitome of arrogance & elitistism.
July 9th, 2008 at 7:40 pmWhen your wife has millions and millions, it’s easy to be OUT OF TOUCH with the vast majority of the population.
July 9th, 2008 at 7:54 pmI guess the disabled (but uncompensated)Iraq vet and wife who came to our office yesterday asking for a tent and sleeping bags are just whiners. According to republicans losing your job and being evicted is just a hiccup. Maybe Gram would like to join them in one of the local homeless camps. These people make me sick.
July 9th, 2008 at 7:59 pmpete,
Some economists have said that if we continue with these massive budget and trade deficits, in the future we will be declared a failed state and taken over by the World Bank. They will determine our budget. And it won’t be pretty.
No, it’s not good for the economy when the average American cannot even afford to go to Sears. They are lucky if they can afford rent, food, gas, and health.
July 9th, 2008 at 8:02 pmI just it’s alright to be a bunch of whiners but GOD forbid we should be bitter about this f**king mess the repugs have dealt us
July 9th, 2008 at 8:09 pmGramm was on the board of UBS.
from Wiki:
“While advising the McCain campaign, Gramm was being paid by a UBS to lobby Congress about the U.S. mortgage crisis. During this time, “the mortgage industry pressed Congress to roll back strong state rules that sought to stem the rise of predatory tactics used by lenders and brokers to place homeowners in high-cost mortgages.”
July 9th, 2008 at 8:11 pmMcCain’s ‘Econ Brain’: America Has ‘Become A Nation Of Whiners’ And Is Just In A ‘Mental Recession’»
Just wondering what America we have left…
July 9th, 2008 at 8:14 pmAnother American icon sold.
The outrageous comments by the elite against the working, average American are not acceptable.
July 9th, 2008 at 8:27 pmThey are so out of touch, so high up in their mansions on the hill, they cannot see the conditions affecting the people below.
They are revolting, disgusting and should have to spend a year living on $40,000 and see how they do.
Actually, I wish a lot worse for them, but TP would ban me for what I am thinking I’d like to do to them.
McCain DID say today that Social Security is a disgrace.
July 9th, 2008 at 8:37 pmThis is the same a$$hole who said a gas tax holiday would help the public feel better because their feelings about the economy are all in their heads.
The same a$$hole who ditched his first wife, had an affair with and married a rich b!tch, who has lived off the taxpayers’ dime all his life, and now he adds the wealth of his bride to his ASSets. This is the same guy who today said SS is a disgrace because taxpayers today are paying for retirees today. Duh! That is the point.
He wants to privatize SS, which would effectively reduce the base, which would cause the demise of SS altogether.
SS survives because everyone pays into the system, it benefits everyone; the selfish, rich b@stards hoard their wealth, and would see their own grandmother eat cat food.
Sounds familiar. Henry Ford blamed American labor for causing the Depression because, he claimed, they wouldn’t do an honest day’s work.
July 9th, 2008 at 8:51 pmBehold the power of them there librul media that can bring entire economies to their knees just to spite one presidential candidate!
Darn wide leftwing conspiracy!!
/sarc off
July 9th, 2008 at 9:12 pmBut, but, I thought all Republicans were “compassionate conservatives,” who being such fine, upstanding examples of White Anglo-Saxon Protestant Christianity would give their shirt off their backs, who would actually bend down and tie the bootstraps of those less fortunate as they help lift them up, put their money where their mouths are, while exhibiting humility that would bring a twinkle of joy to the eyes of Jesus Christ.
I mean, just look at George W. Bush and Dick Cheney (and now John McCain), who are all about as compassionate as a conservative can possibly be, who…oh, wait…gag, vomit, spit, gag, vomit, spit, gag, vomit, spit.
And Jesus wept…as he said to all the “compassionate conservatives”: “Get thee behind me, Satan.”
July 9th, 2008 at 9:51 pmMay I just say a big F.U. to a jerk who tells me the economic problems are in my own mind when his wife charges a quarter of a million on her AmEx?
What an *ss.
July 9th, 2008 at 10:06 pmSenator Gramm:
July 9th, 2008 at 10:08 pmThat’s not whining.
That’s growling.
Come on people, we need to give Gramm and his little lap dog McSame a break.
After all he didn’t say anthing about “eating cake”.
Anyone got a spare guillotine? And its quicker than smoking!
July 9th, 2008 at 10:32 pmA Mental Recession???? – He should know!!!!!!!! He’s been in a Mental Recession for a long time!!!
July 9th, 2008 at 10:36 pm.
I’m sorry, what was Johnny McWhiner complaining about again. I was too busy picking out a good cheese to go with his 1936 Chateau ST. McWhine.
Who’s bringing the crackers…?
.
July 9th, 2008 at 10:50 pmYou are kind of a bunch of whiny whores with no real solution. Despite my best judgement, I am going to have to side with McCain on this one.
July 10th, 2008 at 12:10 amHere’s a quarter. Call someone who gives a sh!t.
July 10th, 2008 at 12:15 amOmnip,
July 10th, 2008 at 12:40 amMcCain says “just change your outlook”. I got real solutions. I say:
universal, single-payer healthcare saves us about $300 billion per year.
Bring em home from Iraq–saves us $160 billion per year.
Stop corporate welfare—saves us $175 billion per year.
Make minimum wage $9 immediately—raises all boats.
Invest in renewable energy—creates good jobs.
Fix infrastructure—creates jobs.
That’s just for starters. What you got—being omnipotent and all?
And now my friends, you have the reason that I fully support Hitlers motives, though he certainly had the wrong people. Jews are hard workers. You welfare recipients should go to Africa for a week and find out just how bad you really have it.
July 10th, 2008 at 12:49 am400,000 jobs have been lost this year. It would have taken 850,000 new jobs just to keep up with population growth. That means we are 1.25 million jobs below break even. That is a lot of pain and current first time claims support a quickening pace for job loses. The whinning is coming from Gramm.
July 10th, 2008 at 12:52 amDidn’t answer me, did you?
July 10th, 2008 at 1:09 amWhy are people ‘hard working’ under Democrats and ‘lazy’ under Republicans?
“despite a major export boom that is the primary reason that growth continues in the economy”, Gramm said.
Yeah selling food at Cartel prices or suffer sanctions that make extortion look good.
“We’ve never been more dominant; we’ve never had more natural advantages than we have today,” he said. “We have benefited greatly” from the globalization of the economy in the last 30 years”.
Almost thirty years later, Reaganomics and our industrial might has been so globalized we don`t manufacture anything in this country anymore and we have no choice but to import every g– damn thing we comsume.
Mr Gramm is an IDIOT,
How do these REICH WINGERS live with themselves day in and day
July 10th, 2008 at 2:00 amout…………
” Years before Phil Gramm was a McCain campaign adviser and a lobbyist for a Swiss bank at the center of the housing credit crisis, he pulled a sly maneuver in the Senate that helped create today’s subprime meltdown. ”
By David Corn
May 28, 2008
http://www.motherjones.com/news/feature/2008/07/foreclosure-phil.html
July 10th, 2008 at 2:07 amHow do these REICH WINGERS live with themselves day in and day
out…………
Psychological defense mechanisms. Must be gigantic ones.
July 10th, 2008 at 2:09 amralph the wonder llama at 6:51 pm
July 10th, 2008 at 3:10 am“…When George W. Bush took the oath of office, the Dow stood at 10,587.
Today it closed at 11,147.
In seven-and-a-half years under George W. Bush, the stock market has climbed exactly 560 points.”
Ralph, you left out one important metric in this post. The value of the dollar then and now. In real value the Dow (and other indices) has lost value. Wish I could join you guys in prime time. I currently work second shift, but I have some time off coming for a routine foot surgery so maybe I can get in here then. I read this blog on my phone at work.
Phil Gramm sponsored the 2 bills that have put us in this pickle we’re in today
July 10th, 2008 at 9:26 amThe worst being the Commodity Futures Modernization act which allowed the Enron debacle the sub-prime mortgage crisis and the unhindered trading in oil futures This qualifies him as Insane McCain’s chief economic adviser It should also qualify him to be hanged by the neck until dead
Anyone that votes for this idiot bastard deserves him. He is as bad- maybe worse than Bush.
July 10th, 2008 at 10:35 amHear that you unemployed: You’re not unemployed, you just think you are.
Hear that investors: The market isn’t in Bear territory, you’re just whinning.
All we have to do is a gas tax holiday and everyone will feel better.
Why does this sound like a strange parody of the touchy-feelies that the republicans used to decry as being new age ?
July 10th, 2008 at 11:06 am“We have sort of become a nation of whiners,” he said. “You just hear this constant whining, complaining about a loss of competitiveness, America in decline” despite a major export boom that is the primary reason that growth continues in the economy, he said.
“We’ve never been more dominant; we’ve never had more natural advantages than we have today,” he said. “We have benefited greatly” from the globalization of the economy in the last 30 years.
The problem is you moron, that the “we” doesn’t include working Americans, just the fat cats like yourself.
Oh, and by the way, good strategy calling voters a bunch of whiners. Keep it up.
http://progressiveworldreview.com
July 10th, 2008 at 11:33 amJohn McCain and Phil Gramm are PATHETIC. So is the whole GOP (reads: Get-Old-People). But, they are not alone. EVERY POLITICIAN is a lower life form. I’m writing-in George Carlin on my ballot in November!
http://www.bloggerradio.com/2008/07/john-mccain-and.html
July 10th, 2008 at 1:04 pmActually, Gramm has a point and i think he is referring to media outlets and othe politician rather than the people. So much of what you read and hear in the media is negative. Telling us how bad things are here. Granted things have been better, but that have been worse too. Things could be much much worse here. Try living in a country like cuba, then come back the US and all of the sudden things won’t seem so bad. That being said when a politician uses the comments “a nation of whiners”, he is stepping in it and asking for it.
July 10th, 2008 at 4:28 pmGramm is right. This country is a bunch of whiners. Especially the politicans and NBC and MSNBC.
People in this country whine about gas prices and the mortgage crisis, but still go out and spend money on their blockbuster videos to watch in their DVD players on their sony flat screens in their Air Conditioned house or apt. Give me a break.
Try living in a 3rd world country, then compare that way of life to the way it is in the US. This is still one of the best places to live in the world. People here should be appreciate for what they have and shut up!
July 10th, 2008 at 4:56 pmThe old man has assembled quite the crack economic team. He’s making up for his admitted ignorance and ineptitude by hiring idiots like Gramm and Carly Fiorina. Fiorina was booted as CEO of Hewlett-Packard after a rash of bad decisions and mismanagement that saw HP’s stock get trounced and Dell take over first spot. Are these the people you want running the economy?
July 11th, 2008 at 10:50 pmThat’s right, it’s a media-created recession. The housing market has never been better. Buy, buy, buy… The same media were the source of all the hype in the heyday of the irrational housing bubble. Now it’s their fault we’re in this rut? Get a clue. Even the National Association of Realtors, the most biased and delusional trade group in the country, admit the market’s worse than it’s ever been and Banks are taking billions in write-offs. I suppose that’s the media’s fault too.
If you can find some good news, ANY good economic news, I’d love to hear it. Please enlighten us. Oh, and “it’s still better than Cuba” doesn’t qualify and “good news”.
Yeah, like in 1929.
Way to build a straw man, genius. Of course, Americans don’t live in Cuba. Or Haiti, or Moldova, or Zimbabwe, for that matter, so the point is moot.
July 11th, 2008 at 11:10 pm