Think Progress

McCain redefines the ‘fundamentals’ of the economy as the ‘American worker.’

During a campaign stop today in Orlando, FL, Sen. John McCain (R-AZ) attempted to defend his repeated claims that the “fundamentals of our economy are strong” by redefining those fundamentals as “workers and small businesses.” “The American worker and their innovation and their entrepreneurship, the small business, those are the fundamentals of America and I think they’re strong,” he said. Watch it:

As Atrios writes, McCain is now arguing that “if you suggest something is wrong with the economy, you’re insulting workers. This follows the Bush strategy of saying that criticizing his Iraq policies is insulting the troops.”

Update The Jed Report recalls McCain offering this analysis of the American worker:



69 Responses to “McCain redefines the ‘fundamentals’ of the economy as the ‘American worker.’”

  1. RantingTommy says:

    Right wingers are just scared and stupid enough to believe him, too.

    The ones that still have a job, that is.


  2. raynman says:

    And the dollar bills look prettier…

    bait and switch, and the media keeps letting him get away with it.


  3. Bobwurst says:

    You can’t say fundamental without saying mental…

    There were 5 and a half years where mccain’s economny wasn’t so good…


  4. Bobwurst says:

    and palin thinks that fundamental means it’s fun to be mental.


  5. spencers mom says:

    Bobwurst, Palin thought they said “the Fundamentalists are strong” and she agrees.

    PEACE


  6. margerine says:

    This guy barely cares about small business or workers to begin with, so it’s an odd line to take.


  7. Art says:

    So…
    How much of a tax break is he willing to give “the workers”?


  8. LibertyLover says:

    I’d like to know how exactly he is gonna fix it? His economic policies aren’t any different than Bush’s policies. Hell, Phil Gramm wrote the law that led to these banks gambling with bank funds. How is that different?

    Oh, I know. That’s right. Mc/Bush 44 is gonna tax the American worker’s Health insurance as income… yep that’ll fix it. That will make things easier for the American worker.


  9. Oval12345678 aka James K. Sayre says:

    There is nothing wrong with the American worker-bees, but there is a lot wrong with King Bee Bush, King Bee Cheney, King Bee McCain and Queen Bee Palin.


  10. Evil Spaniard says:

    Responses to “McCain redefines the ‘fundamentals’ of the economy as the ‘American worker.’”

    The same American workers that are losing their homes after years of paying the mortgage?


  11. joe cantwell says:

    RantingTommy Says:
    Right wingers are just scared and stupid enough to believe him, too.

    The ones that still have a job, that is.

    *

    they didn’t believe hoover

    why should they believe him?

    the american people will go only

    so far with bullshit.

    *

    remember that.

    #


  12. Patty says:

    “Thank you for helping us circumvent this one, Karl. Here’s your check.”


  13. Roket says:

    Since these neo-cons are wrong about absolutely everything, lookout workers and small business owners. Looks like your next.


  14. MCMetal says:

    McDepends tomorrow : Redefines ‘victory’ in Iraq

    McDepends after tomorrow : Redefines global warming

    McDepends Wed.: Redefines warrantless wiretapping

    McDepends Thurs. : Redefines torture

    McDepends : Will redefine anything and everything to fit the group’s view he’s pandering to at any given moment , the next 50 days…………..


  15. stateofthedivision says:

    So foreign policy = energy and economic fundamentals = American worker? Throw this idiot off the campaign trail…


  16. 5th Estate says:

    I have yet to see or hear ANY news TV show or radio host or pundit bother to ask what ANYONE means by “small business”.

    Last I looked “small business” means up to 500 employees and/or $12 million per annum in sales.

    Oprah Whinfrey’s HARPO productions would probably qualify as a “small business” in employee terms but she’s valued at $1Billion.

    For the average Joe or Jane 500 employees and/or $12 million dollars are not “small” figures. My now defunct small business was at it’s peak 5 employees and $500,000 p.a.
    If 500/12million is “small” then my old company could be classified as a micro-business and any thing smaller would be a nano-business.
    By the same token 600 employees and/or $13 million would be “big business”. so what does that make WalMart with 300,000 employees and what? $12billion? in sales, or Exxon with about 80,000 (?) employees and $120 billion in profits not just sales ?

    If multi-billion dollar businesses like Bear Stearns and Fanni Mae are collapsing but “small businesses” are “fundamental” to the economy then why bail-out ‘humongous business’ because if they aren’t fundamental to the US economy their disappearance shouldn’t make a difference. right? They shouldn’t be important, RIGHT?


  17. Bob says:

    Moving the goalposts every time your rhetoric doesn’t fit the facts is insulting to our intelligence.

    If the fundamentals are strong, why is the dollar so low, unemployment increasing, wages stagnant, trade deficit increasing, and so on? A team down 35-0 at the half has a strong defence as long as you’re not counting the score.
    Why is John blaming the weak ecomomy on workers? Production is up but wages are down, so it’s definately not the workers.


  18. Buckie Boy says:

    “if you suggest something is wrong with the economy, you’re insulting workers.”

    You mean the ones who have jobs I assume.


  19. Wayne says:

    Evil Spaniard Says:

    Responses to “McCain redefines the ‘fundamentals’ of the economy as the ‘American worker.’”

    The same American workers that are losing their homes after years of paying the mortgage?

    Yeah, the ones also losing their jobs in this “strong economy” along with their homes.


  20. Max-1 says:

    .

    Johnny McCain’t get his story to straight talk itself out of the spin cycle.

    .


  21. Anne says:

    McLame needs to come to our town and see all the businesses that have gone out of business and the empty buildings. He doesn’t know what he is talking about.


  22. EugeneDebs says:

    What a DICK. The right has spent decades DEMEANING the workers of America. They pushed trickle down. The equivelent of telling us we need to SERVE the rich and cater to THEIR needs and hope for some crumbs off of their table because we gave them too much. They told us we only have jobs because the rich provide them as if we OWE them thanks for profitting off of OUR sweat and labor. NOW all of a sudden WE are the fundamentals of the economy. Of course it is true but who in the WORLD thinks the right actually believes that?


  23. rossir says:

    American workers are great
    they just don’t have great work
    or they just don’t have work
    or they just can’t keep up
    or they just can’t keep their home
    or they just can’t afford healthcare
    or they’re just not good Americans


  24. stateofthedivision says:

    Bush’s buddies at the Carlyle Group are just delighted with the economic slowdown. They can buy distressed companies cheaper! Their head had this to say in today’s Financial Times:

    The group believes the current economic slowdown is still in its early days, even if the financial system recovers quite quickly. “It creates a lot of opportunity for us,” says Mr Raymond Whiteman, co-head of Carlyle Strategic Partners fund. “When corporate slowdown collides with corporate profit pressure it creates defaults, corporate bankruptcies and restructuring.”

    “We are deep value investors, we are patient and we think it is going to get worse before it gets better,” says Mr Whiteman. “We are well positioned to make great investments.”


  25. Crusty Old Bastard says:

    My wife is a small business owner. McOutofit is full of sheet!
    In the last few years we have seen all of our competitors fold. We have managed because we have a unique market catering to the people who have money for an Alaska Cruise and money to spend on souvenirs. One thing of note, however. Except for the last three years our best selling item was a happy-face Eskimo doll. In the last three years he has been replaced by a doll with a frown. It ain’t coincidence, Baby.


  26. McWars says:

    Take something you know democrats care about, and repackage that into a shield against tired and insane rhetoric to entertain the masses.

    Congratulations, McCain. You’ve exposed yourself not as a maverick, but as the same old mud-slinging neocon.

    Now get the f uck off the campaign trail, you flake. And send your know-nothing junk bond of a running mate back to her meth lab.


  27. freeman says:

    The Keating five , aren’t they a music group ?


  28. DidHeJustSayThat says:

    McCain’s insistence that the “fundamentals of our economy are strong,” must be a defense of the economic policies he espouses and is putting forth, yet also refusing to discuss in any detail.

    It will be amazing if he were to win the White House without discussing a single issue or campaign on merit. What would that truly say about our country?


  29. Mr. Evil says:

    With all that we know about McCain and his economic toadie, Phil Gramm, how is it that every poll has McCain at about 45%? How can he be in a virtual tie with Obama? Are the people in this country simply that stupid? Are those that will vote for McCain (aside from the ultra-rich) lovers and gluttons for punishment? WTF is wrong with this picture?


  30. DidHeJustSayThat says:

    #
    stateofthedivision Says:

    Bush’s buddies at the Carlyle Group are just delighted with the economic slowdown. They can buy distressed companies cheaper! Their head had this to say in today’s Financial Times:

    The group believes the current economic slowdown is still in its early days, even if the financial system recovers quite quickly. “It creates a lot of opportunity for us,” says Mr Raymond Whiteman, co-head of Carlyle Strategic Partners fund. “When corporate slowdown collides with corporate profit pressure it creates defaults, corporate bankruptcies and restructuring.”

    “We are deep value investors, we are patient and we think it is going to get worse before it gets better,” says Mr Whiteman. “We are well positioned to make great investments.”

    And you say the Economy ain’t strong!


  31. hussein toasterhead says:

    Ahhhh, that’s interesting loophole McCain has found.

    See, once you get laid off or your small business goes bankrupt, you’re no longer working, and therefore you’re no longer an “American worker.” So when McCain refers to the “fundamental American workers,” he’s only referring to the portion of the labor force who still has a job. All those other lazy downsized bums can go take a hike.


  32. Evil Spaniard says:

    freeman Says:

    The Keating five , aren’t they a music group ?

    A Doom Metal one probably.


  33. Evil Spaniard says:

    stateofthedivision Says:

    Bush’s buddies at the Carlyle Group are just delighted with the economic slowdown. They can buy distressed companies cheaper! Their head had this to say in today’s Financial Times:

    The group believes the current economic slowdown is still in its early days, even if the financial system recovers quite quickly. “It creates a lot of opportunity for us,” says Mr Raymond Whiteman, co-head of Carlyle Strategic Partners fund. “When corporate slowdown collides with corporate profit pressure it creates defaults, corporate bankruptcies and restructuring.”

    “We are deep value investors, we are patient and we think it is going to get worse before it gets better,” says Mr Whiteman. “We are well positioned to make great investments.”

    September 15th, 2008 at 1:57 pm

    Pirateering has been always a lucrative bussiness.


  34. stateofthedivision says:

    DidHeJustSayThat, you say potato, I say potatoe. With Lehman’s failure and Merrill Lynch’s sale to survive, how low can Carlyle get those investment banking fees when they take some of their affiliates public?

    The Carlyle Group could do quite well in this worsening economy. And their “carried interest” preferred taxation remains firmly ensconsced.

    We can call it the PEU economy, for Private Equity Underwriters. George Bush, the gift that keeps on giving…


  35. Evil Spaniard says:

    BTW, someone remembers the short film The Red Crimson Permanent Assurance, at the begining of the motion picture Monty Python’s The Meaning of Life?


  36. Cal Malenky says:

    Workers are not responsible for the mess of the economy. Stan O’Neal had thousands of people fired when he was CEO of Merrill Lynch and that was when times were good. Efficiencies, doncha know. When the subprime meltdown hit ML, O’Neal took a $160 million golden parachute and left.
    Somethings’s wrong with that.


  37. Max-1 says:

    .

    Let’s play 20 Questions…
    http://www.truthout.org/article/twenty-questions-social-justice-quiz-2008

    3. 1n 1965, CEOs in major companies made 24 times more than the average worker. In 1980, CEOs made 40 times more than the average worker. In 2007, CEOs earned how many times more than the average worker?

    A: Today’s average CEO from a Fortune 500 company makes 364 times an average worker’s pay and over 70 times the pay of a four-star Army general. Executive Excess 2007, page 7, jointly published by Institute for Policy Studies and United for Fair Economy, August 29, 2007. The 1965 numbers from State of Working America 2004-2005, Economic Policy Institute.

    4. In how many of the more than 3,000 cities and counties in the US can a full-time worker who earns the minimum wage afford to pay rent and utilities on a one-bedroom apartment?

    A: In no city or county in the entire USA can a full-time worker who earns minimum wage afford even a one-bedroom rental. The US Department of Housing and Urban Development (HUD) urges renters not to pay more than 30 percent of their income in rent. HUD also reports the fair market rent for each of the counties and cities in the US. Nationally, in order to rent a two-bedroom apartment, one full-time worker in 2008 must earn $17.32 per hour. In fact, 81 percent of renters live in cities where the Fair Market Rent for a two-bedroom rental is not even affordable with two minimum-wage jobs. Source: Out of Reach 2007-2008, April 7, 2008, National Low-Income Housing Coalition.

    5. In 1968, the minimum wage was $1.65 per hour. How much would the minimum wage be today if it had kept pace with inflation since 1968?

    A: Calculated in real (inflation-adjusted) dollars, the 1968 minimum wage would have been $9.83 in 2007 dollars. Andrew Tobias, January 16, 2008. The federal minimum wage is $6.55 per hour effective July 24, 2008, and will be $7.25 per hour effective July 24, 2009.


  38. Oval12345678 aka James K. Sayre says:

    McCain, Phil Gramm and other right-wing Republicans started all this financial deregulation crap back in the 1990s. Part of the ongoing Republican desire to destroy FDR’s New Deal.

    Below are some of my comments on the deregulation of the electronic oil futures markets:

    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.


  39. Cal Malenky says:

    He uses “small business” like he uses “small town values” in his propaganda. The words rate well in focus groups. They appeal to people’s fantasies about a better time in the golden past.
    Nowadays, small towns often tend to be hollowed out in the middle with generic shopping strips, big box chain stores, fast food chains and subdivisions on the edges near the interstate highways. The old days of the town square are fading quickly.
    Ask anyone who’s lived in one. Small town values in reality are:

    Everybody knows your business and judges you about it
    Outsiders are viewed with suspicion
    Change is to be resisted
    A few powerful families control everything

    Sounds like Sarah Palin’s world.


  40. RUCerious says:

    And what in the blinding hell would McIIIrd know about the American Worker?


  41. Leftside Annie says:

    ‘Scuse me, Gramps – I’m one of those workers you’re so concerned with – and you don’t have a single friggin’ clue.

    If *I* had a fortune in the hundreds of MILLIONS, could afford to spend $250,000 per YEAR on servants and wasn’t sure how many houses I owned, well, I just might think that the economy was “fundamentally sound” too.

    Unfortunately, me, that famous “American Worker” you’re so concerned about, Grampaw — I live from paycheck to paycheck, and was down to having exactly $17.34 left in my checking account yesterday before I got paid.

    I don’t own a house at all. I pay around $1000 per month for a small apartment (albeit in a decent building in a decent neighborhood).

    My company is having another round of lay-offs next month. I may or may not be one of them.

    So, Grampy McWarbucks, I have a *slightly* different view of the economy than you do…so why don’t you educate yourself about what REAL “American workers” are going through in your “fundamentally sound economy” — or shut the *bleep* up, you stupid old fart. I’m sick of hearing your idiotic spew.


  42. misshusseinmolly says:

    Oh, geez — why doesn’t McSame just come out and redefine the “fundamentals” of the American economy as the American flag, Mom, and apple pie? Claiming that the “fundamentals” are American workers is just as silly.

    Entrepreneurship and small businesses are getting especially whalloped in today’s economy. Small business owners are among the least likely to be able to afford health insurance for themselves and their workers. They are the most likely to be put out of business by Wal-Mart and other big box stores, who ride comfortably on government tax cuts and credits. And they are among the first to hurt because their potential customers can’t afford to buy anything because all their money is going to try to keep their home from foreclosure. And McSame vows to stay the course on all the policies that have made this economy an absolute nightmare for small business.

    McCain is just spouting stupid stuff again, hoping it will sound warm and fuzzy to the voters. If the voters are listening, they’ll see it for what it is.


  43. RUCerious says:

    From NBC/NJ’s Adam Aigner-Treworgy

    JACKSONVILLE, Fl. — At his first rally without Palin since selecting her as his running mate, McCain attracted roughly 3,000 people at an arena here with 16,000 seats.

    Heh ~ looks like he be needin his low information white male bait…


  44. Fred says:

    “The American worker and their innovation and their entrepreneurship, the small business, those are the fundamentals of America and I think they’re strong,” he said.

    dow tumbles again. We are still close to 2000 levels and the economy is strong? What’s wrong with these people.

    Top Economist: Americans Should Worry About Bank Deposits
    But Americans are justified to be worried, says Nouriel Roubini, of NYU’s Stern School and RGE Monitor, who notes there is already a “slow-motion run on retail banks” occurring nationwide.

    That “run” could accelerate as people realize the FDIC fund has about $50 billion to “insure” about $1 trillion in assets at the nation’s financial institutions, says Roubini. “They’re going to run out of money” unless Congress acts soon to recapitalize the FDIC.

    So our insured deposits are not even close to being covered?

    Doesn’t sound like even mccains money is safe to me. Another thing, why is the rest of the world reacting so strongly if there is nothing to worry about?


  45. Fred says:

    Tracy__5 Says:

    You explain


  46. Bilbo Hussein Baggins says:

    Amazing. Even Mitt Romney is criticizing the McBush campaign for telling lies. What’s going on here. First Karl Rove and then Mitt Romney. Who’s next, Bush?

    http://www.youtube.com/watch?v=UY5Plqs5d98


  47. Fred says:

    Tracy__5 Says:
    “…claims that the “fundamentals of our economy are strong” by redefining those fundamentals as “workers and small businesses.”

    Redefining? TP needs to explain this bunk.

    Not bunk t5, only in your wierd mind is it bunk. mccain has been claiming that our economy is sound while ignoring reality. Now he is moonwalking(redefining)trying to make it look like that is not what he said. Plenty of evidence there if you weren’t such a doofus.


  48. Fred says:

    tracy, the dow is down over 400 points. Guess you think that is alright. 13 more points will put us below 11000. Would you like to defend what is happening?


  49. Bilbo Hussein Baggins says:

    stateofthedivision Says:
    Bush’s buddies at the Carlyle Group are just delighted with the economic slowdown. They can buy distressed companies cheaper! Their head had this to say in today’s Financial Times:
    “We are deep value investors, we are patient and we think it is going to get worse before it gets better,” says Mr Whiteman. “We are well positioned to make great investments.”

    God, talk about blood suckers. They are waiting gleefully for the economy to collapse so they can buy distressed companies at fire sale prices. These people are un-American and un-patriotic and they define the conservative movement well.


  50. Bilbo Hussein Baggins says:

    Mr. Evil Says:
    With all that we know about McCain and his economic toadie, Phil Gramm, how is it that every poll has McCain at about 45%? How can he be in a virtual tie with Obama? Are the people in this country simply that stupid?

    No..no…no. They are NOT tied. The polling companies no longer post data on who they interview. They used to interview significantly more Democrats than Republicans because there are 12% more registered Democrats than Republicans in this country. It is believed that they are now polling equal numbers. That means 10-12% of Obama’s support has evaporated because they are cooking the books on the polls. I do expect for them to stop doing that soon because it is starting to look really suspect. And if, they do it right up to the election and Obama wins by a landslide, the polling companies will have marginalized themselves.


  51. desertflower1 says:

    http://www.motherjones.com/mojoblog/archives/2008/09/9718_mccain_lehman_crisis_gramm.html Pretty damning article!! McCain in Florida “forgot to mention” that his friend and advisor, Phil Gramm was to blame for all this mess…read the article:) Now the bast#$% is lying by ommission! It would be like a bad comedy routine, if it wasn’t so gravely serious.


  52. Fred says:

    Tracy__5 Says:
    McCain has not “redefined” the fundementals of the economy as the workers and small business. He has always pointed out that the American workers and small businesses are the backbone of the U.S. economy…unless you have something to the contrary.

    just do a google, you do know how don’t you. This is the first time he has ever mentioned workers or small business in regard to “the fundamentals of the economy are strong”.

    Just because you want to be stupid don’t expect me to dance with you.

    In addition, don’t you feel kinda silly defending them? The dow is at 10968, close to where it was when Clinton left office. Does that spell stability and strength to you? If so then you need to take kindergarden again.


  53. Leftside Annie says:

    Tracy: you’re truly stupid, and I feel sorry for you.

    I really do.


  54. Fred says:

    Tracy__5 Says:
    What is going on is that the investment banks made bad loans AROUND the world.

    Bullshit, their economies are affected by ours but they are not the ones causing the world economic turmoil, we are, alone.

    Get your facts straight before posting such crap.


  55. Fred says:

    by the way tracy, even when you post a link it’s weak. There is no mention of any country other than the US in your own link. Annie is right about you. You would forget to breath if you had to do it on your own.


  56. Fred says:

    Tracy__5 Says:
    “This is the first time he has ever mentioned workers or small business in regard to “the fundamentals of the economy are strong”.”

    So? The two are connected i.e. the fundamentals of the economy in regards to small business and workers.

    Last time I engage you today. They are not connected. The economy cannot survive on labor and small business alone.

    If our economy tanks from above as it is doing now, no amount of wishing and hoping will save us. Small business will collapse too and labor will be long unemployment lines. We are already seeing this.

    They are not connected. they are just affected. It’s a lie, a ruse, you know, something you could believe in.


  57. Fred says:

    Flag tracy and let’s move on. Maybe TP will have mercy on us and remove this scab from our skin.

    Come back and see us when you’re 6 or maybe 666.


  58. Doc Rock says:

    McCain is partially correct–it is the screwed up managements’ and look-the-other-way Cheney-Bush Administration government regulators’ fault!


  59. Fred says:

    Tracy__5 Says:

    ho hum


  60. Fred says:

    tracy, I’ll be back later tonight to post after you so you won’t get the last word.


  61. dbadass says:

    I don’t buy the myth that US citizens are any harder working innovative or entrepreneurial than any other human beings.


  62. Fred says:

    tracy…..you still here? here’s a link of mccain trashing American workers and don’t forget their comments about how Americans are whiners, etc.

    mccain trashes American workers


  63. chiefeditor says:

    Doesn’t really erase this, though, does it?


  64. stateofthedivision says:

    Sorry Tracy, the problem originated in America with financial innovation, much of it securitized mortgage obligations. The Wall Street investment houses packaged these things, rating agencies marked them Triple A (high grade), and worldwide institutions purchased them.

    Fannie Mae and Freddie Mac guaranteed mortgages as well as sold bonds to finance home lending.

    Now the highly leveraged house of cards is falling apart, with amazing speed and deadly consequences. We created the mortgage securitization industry which collapsed and sent the world into a tailspin.

    Of course, high energy prices are putting a deeper chink in the armor of the world’s economy. But Western oil companies are making out like bandits.


  65. bjhunt says:

    Somebody needs to ask McCain whether “the fundamentals” of the economy were strong in, say, 1932. He really can’t say yes without discrediting himself completely in the eyes of anyone who has ever heard of the Great Depression, and he can’t say no without dissing the American workers of the 1930s, who as far as I can tell had just as much drive and character as people do today. No way out of this one, John. And the fact that the latest news out of Wall Street makes it look like we may be heading for another crash doesn’t exactly help his credibility, either.


  66. joe cantwell says:

    drill, drill, drill.

    that’ll fix everything.

    #


  67. joe cantwell says:

    hey tracy_5 how’d

    you like to be the next republican

    candidate for vice-president?

    *

    you’re not qualified

    and you’re good at lying.

    *

    good luck.

    :)


  68. Bad Eye says:

    Oh really? We just had a small business (locally-owned restaurant) down the road from where I live close about a month ago, citing the ever rising costs of doing business. It had been open about 6 months.

    McCain can stick his fundamentals where the sun don’t shine.


  69. hodger says:

    McCain’s video just begs the question on what planet seasonal agricultural workers are paid $50 an hour?



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