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.”
Right wingers are just scared and stupid enough to believe him, too.
The ones that still have a job, that is.
September 15th, 2008 at 1:28 pmAnd the dollar bills look prettier…
bait and switch, and the media keeps letting him get away with it.
September 15th, 2008 at 1:29 pmYou can’t say fundamental without saying mental…
There were 5 and a half years where mccain’s economny wasn’t so good…
September 15th, 2008 at 1:34 pmand palin thinks that fundamental means it’s fun to be mental.
September 15th, 2008 at 1:34 pmBobwurst, Palin thought they said “the Fundamentalists are strong” and she agrees.
PEACE
September 15th, 2008 at 1:36 pmThis guy barely cares about small business or workers to begin with, so it’s an odd line to take.
September 15th, 2008 at 1:42 pmSo…
September 15th, 2008 at 1:44 pmHow much of a tax break is he willing to give “the workers”?
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.
September 15th, 2008 at 1:44 pmThere 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.
September 15th, 2008 at 1:46 pmResponses 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?
September 15th, 2008 at 1:47 pmRantingTommy 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.
#
September 15th, 2008 at 1:47 pm“Thank you for helping us circumvent this one, Karl. Here’s your check.”
September 15th, 2008 at 1:51 pmSince these neo-cons are wrong about absolutely everything, lookout workers and small business owners. Looks like your next.
September 15th, 2008 at 1:51 pmMcDepends 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…………..
September 15th, 2008 at 1:53 pmSo foreign policy = energy and economic fundamentals = American worker? Throw this idiot off the campaign trail…
September 15th, 2008 at 1:54 pmI 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?
September 15th, 2008 at 1:54 pmMoving 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.
September 15th, 2008 at 1:54 pmWhy is John blaming the weak ecomomy on workers? Production is up but wages are down, so it’s definately not the workers.
“if you suggest something is wrong with the economy, you’re insulting workers.”
You mean the ones who have jobs I assume.
September 15th, 2008 at 1:55 pmEvil 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.
September 15th, 2008 at 1:55 pm.
Johnny McCain’t get his story to straight talk itself out of the spin cycle.
.
September 15th, 2008 at 1:55 pmMcLame 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.
September 15th, 2008 at 1:56 pmWhat 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?
September 15th, 2008 at 1:57 pmAmerican workers are great
September 15th, 2008 at 1:57 pmthey 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
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 pmMy wife is a small business owner. McOutofit is full of sheet!
September 15th, 2008 at 1:58 pmIn 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.
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.
September 15th, 2008 at 1:58 pmThe Keating five , aren’t they a music group ?
September 15th, 2008 at 1:59 pmMcCain’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?
September 15th, 2008 at 2:00 pmWith 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?
September 15th, 2008 at 2:01 pmAnd you say the Economy ain’t strong!
September 15th, 2008 at 2:03 pmAhhhh, 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.
September 15th, 2008 at 2:06 pmfreeman Says:
The Keating five , aren’t they a music group ?
A Doom Metal one probably.
September 15th, 2008 at 2:06 pmstateofthedivision 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.
September 15th, 2008 at 2:09 pmDidHeJustSayThat, 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…
September 15th, 2008 at 2:10 pmBTW, someone remembers the short film The Red Crimson Permanent Assurance, at the begining of the motion picture Monty Python’s The Meaning of Life?
September 15th, 2008 at 2:12 pmWorkers 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.
September 15th, 2008 at 2:16 pmSomethings’s wrong with that.
.
Let’s play 20 Questions…
http://www.truthout.org/article/twenty-questions-social-justice-quiz-2008
September 15th, 2008 at 2:18 pm
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.
September 15th, 2008 at 2:19 pmHe 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.
September 15th, 2008 at 2:27 pmAnd what in the blinding hell would McIIIrd know about the American Worker?
September 15th, 2008 at 2:32 pm‘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.
September 15th, 2008 at 2:38 pmOh, 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.
September 15th, 2008 at 2:47 pmFrom 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…
September 15th, 2008 at 2:55 pmdow 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?
September 15th, 2008 at 3:11 pmTracy__5 Says:
You explain
September 15th, 2008 at 3:15 pmAmazing. 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
September 15th, 2008 at 3:18 pmNot 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.
September 15th, 2008 at 3:18 pmtracy, 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?
September 15th, 2008 at 3:25 pmstateofthedivision 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.
September 15th, 2008 at 3:26 pmMr. 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.
September 15th, 2008 at 3:34 pmhttp://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.
September 15th, 2008 at 3:53 pmjust 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.
September 15th, 2008 at 3:55 pmTracy: you’re truly stupid, and I feel sorry for you.
I really do.
September 15th, 2008 at 4:06 pmBullshit, 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.
September 15th, 2008 at 4:11 pmby 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.
September 15th, 2008 at 4:13 pmLast 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.
September 15th, 2008 at 4:17 pmFlag 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.
September 15th, 2008 at 4:18 pmMcCain is partially correct–it is the screwed up managements’ and look-the-other-way Cheney-Bush Administration government regulators’ fault!
September 15th, 2008 at 4:22 pmTracy__5 Says:
ho hum
September 15th, 2008 at 4:36 pmtracy, I’ll be back later tonight to post after you so you won’t get the last word.
September 15th, 2008 at 4:39 pmI don’t buy the myth that US citizens are any harder working innovative or entrepreneurial than any other human beings.
September 15th, 2008 at 4:42 pmtracy…..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
September 15th, 2008 at 5:25 pmDoesn’t really erase this, though, does it?
September 15th, 2008 at 6:18 pmSorry 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.
September 15th, 2008 at 6:39 pmSomebody 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.
September 15th, 2008 at 8:21 pmdrill, drill, drill.
that’ll fix everything.
#
September 15th, 2008 at 9:40 pmhey 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.
:)
September 15th, 2008 at 9:44 pmOh 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.
September 15th, 2008 at 10:57 pmMcCain’s video just begs the question on what planet seasonal agricultural workers are paid $50 an hour?
September 16th, 2008 at 8:15 am