With ‘fundamentals are strong’ comments, McCain borrows Hoover’s Depression-era rhetoric.
By on Sep 17th, 2008 at 11:15 am
With ‘fundamentals are strong’ comments, McCain borrows Hoover’s Depression-era rhetoric.
Sen. John McCain (R-AZ) continues to insist that the “fundamentals of our economy are strong.” As Eric Rauchway notes in the American Prospect, McCain’s response to this economic crisis is reminiscent of President Herbert Hoover’s “do-nothing” response to the Great Depression. On October 25, 1929, a day after what is now known as Black Thursday, Hoover declared:
The fundamental business of the country, that is the production and distribution of commodities, is on a sound and prosperous basis.
McCain’s Hooverism — in word and in deed — is also in line with another subscriber to “do-nothing economics,” President George W. Bush.
Update As ThinkProgress noted yesterday, John McCain has described the economy’s fundamentals as “strong” at least 18 times over the past year. Progressive Accountability has produced a video compiling all 18 references McCain has made to the “strong” economy. Watch it:
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Where’s the chicken in every pot?
September 17th, 2008 at 11:18 amI suspect that McCain is counting on most Americans not being old enough to remember this. Either that, or he flunked U.S. History 101.
September 17th, 2008 at 11:19 amMy economic “fundamentals” would be strong, too, if my wife was sitting on $100 million.
September 17th, 2008 at 11:19 amStay calm! Stay Calm! [Breaking: Government provides $85 billion lifeline to AIG] You have nothing to worry about! We are sound and stable!
September 17th, 2008 at 11:20 amThis may be a wasted ploy, as McDepends may be one of only a handful of people that were alive when Hoover was POTUS. Or maybe that is his hope, since all that Hoover did that was of benefit to this country was get a dam named after him.
September 17th, 2008 at 11:20 amEither that, or he flunked U.S. History 101.
Let’s ask his professor at the Naval Academy. I think he received a “B”, as in “Beer.”
September 17th, 2008 at 11:22 amMcDepends wants to follow the worst president in US history’s tenure by going back and governing like the 2nd worst president in US history ………….
Thanks , but no thanks.
September 17th, 2008 at 11:22 amWell, for the moment, and compared to, say Congo, or Zaire, it is relatively ’strong.’
Be grateful for the small dispensations…
And hoard drugs. They’re the first things that will become unavailable, in the coming crisis…
September 17th, 2008 at 11:22 amOf course, it’s strong to people associated with the McCon campaign. They just have to invest their kajillions the right way.
Hmmm, The Carlyle Group plans on investing in South America. Maybe some of John’s supporters can park their money down south, maybe even ahead of their Paraguayan retirement run!
Carlyle investing in the land of the leftist? Something must be assunder…
September 17th, 2008 at 11:22 amvia C&L blog roundup:
The Satirical Political Report: Sarah Palin to put McCain up for sale on eBay
September 17th, 2008 at 11:23 amMissmolly,
Looks like we had similar thoughts to this latest one-liner from the comedian formerly known as McCain.
September 17th, 2008 at 11:23 amMcWars Says:
Either that, or he flunked U.S. History 101.
Let’s ask his professor at the Naval Academy. I think he received a “B”, as in “Beer.”
More likely a “d” as in dumfuk.
September 17th, 2008 at 11:25 amalso:
McCainpedia: Count the Lies
September 17th, 2008 at 11:25 amSo is McCain running for Bush’s third term or Hoover’s second?
I’m confused now.
September 17th, 2008 at 11:29 amMcStain: “My friends, I never said that, and if I did, my friends, it was taken out of context, and if it wasn’t, then um, my friends, what I meant to say, er, um, POW POW POW!”
PEACE
September 17th, 2008 at 11:33 ammchoover says fundamentals are strong
September 17th, 2008 at 11:34 amMeanwhile dow is down nearly 350 more points today to pre 2000 levels…….when do we panic?
another, most important:
September 17th, 2008 at 11:35 amTake action! Email the moderators of the upcoming presidential and VP debates and demand “The Debate We Need”
i’m worried the about the
fundamental strength
of tp trolls.
*
they’re all missing.
quo vadis, trolls?
*
September 17th, 2008 at 11:35 amThe fundamental business of the country, that is the production and distribution of commodities, is on a sound and prosperous basis.
And I’m positive that all of America is totally relieved to hear this coming from such a renowned economic expert ………
September 17th, 2008 at 11:36 am#19, MCMetal, it’s gonna take me a while to clean up the tea I sprayed on my monitor. Thanks for a badly needed laugh.
September 17th, 2008 at 11:46 amImpeach Pelosi, Cheney and Bush and Save the Constitution.
Impeach Pailin and restore the Rule Of Law!
I imagine there has been a dozen or so recessions since the Great Depression. If someone’s got the exact number, please enlighten me.
How is it that these are the worst economic conditions since the Great Depression, when we aren’t technically even in recession?
Is it possible that circumstances are being exaggerated for politics?
How are today’s economic circumstances (not technically a recession) worse than the dozen or so actual recessions since the Great Depression?
Is it a possible preemptive recession?
September 17th, 2008 at 11:48 amFWIW: Hoover was also famous (though the years of the Depression) for saying there was light at the end of the tunnel.
He was right. In 1932, the voters removed him and replaced him with FDR. After that no one would touch him — the guy was toxic — till after the War when Harry Truman asked him to head up a commission.
September 17th, 2008 at 11:53 amAbu Ben Hussein Leporello Says:
——————————————————————————–
#19, MCMetal, it’s gonna take me a while to clean up the tea I sprayed on my monitor. Thanks for a badly needed laugh.
Impeach Pelosi, Cheney and Bush and Save the Constitution.
Impeach Pailin and restore the Rule Of Law!
September 17th, 2008 at 11:46 am
I can see why the senile old fool is clueless ; how does anyone in his campaign advise him to make statements such as the one leading this thread ?
It’s akin to Chimpy telling those scientists who are trying to determine the origin(s) of the universe that they’re on the right or wrong track…….
September 17th, 2008 at 12:03 pmbackup Says:
your source is suspect as usual. Dardneton or whatever is a republican atomic energy advocate. He’s no economist.
Nice try though but we are focused on the failure of the republicans to manage our economy. They have put us in danger again and are hurting Americans. Not even you can deny that.
September 17th, 2008 at 12:04 pmbackup,
even your boy mcsame called it a recession.
(see video provided)
were you asleep all day monday?
*
seriously dude somebody ought
to pull your troll license. you’re
not even trying.
^
thank you.
#
September 17th, 2008 at 12:06 pmbackup Says:
Is it a possible preemptive recession?
_____________
I knew this morning wouldn’t be complete w/out this ridiculous twit chiming in…
http://www.huffingtonpost.com/2008/09/14/greenspan-this-is-the-wor_n_126274.html
Greenspan: This Is The Worst Economy I’ve Ever Seen…
Former Federal Reserve Chairman Alan Greenspan offered a woeful outlook of America’s economic situation on Sunday, saying the crisis with the country’s financial institutions was as dire as he had ever seen in his long career, and predicting that one or more of those institutions would likely collapse in the near future.
___________
Damn that Greenspan, playing right into Obama’s hand…
Hey, backdoor… mebbe you should take Greenspan aside, and edumacate him on how the economy works, seeing as you know more than he does…
A bow tie w/ a smoking jacket? Going for the Hugh Hefner look this morning?
September 17th, 2008 at 12:08 pmFred Says:
backup Says:
your source is suspect as usual. Dardneton or whatever is a republican atomic energy advocate. He’s no economist.
Nice try though but we are focused on the failure of the republicans to manage our economy. They have put us in danger again and are hurting Americans. Not even you can deny that.
*
please fred don’t deny
backup his chance to f’up.
according to mr. greenspan
this is a once in a century economic
event and backup must have his
opportunity to sing his troll aria.
*
sing backup, sing!
^
September 17th, 2008 at 12:10 pmThe Regan-Bush-Bush-McCain economics of “trickle down” and tax cutting are fundamentally flawed and lead straight back to Hoovervilles.
September 17th, 2008 at 12:16 pmbow tie backup thinks the economy is fine.
It’s not like this wasn’t predicted and predictable backup. After all republicans always cause this to happen. It happens every time a republican is in office.
Just as you can predict an economic corruption scandal, and they are tied together.
Please don’t try to go to the ” You guys are wishing this will happen for political advantage” mode.
We are the ones who feel the pain.
September 17th, 2008 at 12:17 pmStart laying away some tarps and bungies and coleman stove fuel folks – we’re one President away from moving to Hooverville.
September 17th, 2008 at 12:41 pmbackup Says:
How are today’s economic circumstances (not technically a recession) worse than the dozen or so actual recessions since the Great Depression?
Is it a possible preemptive recession?
September 17th, 2008 at 11:48 am
______
No. The only problem is the completely outdated metric that ties the term “recession” to two quarters of negative GDP growth, and completely ignores real-world metrics like unemployment and inflation and underemployment and household debt and costs-of-living.
September 17th, 2008 at 12:47 pmbackup…the rest of the world thinks we are in a recession, they are feeling it. Why can’t you just acknowledge what is obvious to all but the willfully ignorant?…..oh yeah.
link
September 17th, 2008 at 1:00 pmtoasterhead.
Are you saying that because the old metric of recession aren’t meeting the progressives needs, we need to abandon them for metrics that do?
The economic circumstances today aren’t good compared to the last 15 years. But, the comparisons to the Great Depression are a stretch, no matter whose comparison it is.
Progressives have been screaming about economic recession for about 4 years. It seems like hope for a self fulfilling prophecy. The numbers just don’t back up the sentiment.
News media and progressives see profit in painting doom and gloom. The reality doesn’t seem to mirror the rhetoric.
September 17th, 2008 at 1:01 pmbackup,
is that you or
is that steve darden
we’re hearing from here?
+
check this reality out.
*
keep trolling.
:)
September 17th, 2008 at 1:07 pmWE ARE IN A RECESSION. PERIOD.
September 17th, 2008 at 1:09 pmCome live in Michigan and tell me it’s not all messed up. We have a lot going for us and we have to BEG for economic growth because the auto industry was so protected by the government and big oil that other industries and technologies were given a back seat. It’s not unions or Granholm who did this to us. It was big companies who chose to ignore future risks to their freewheeling ways because they knew the taxpayer would have to take it on the chin for them. And now people act all surprised that McCan’t can’t come up with a solution? That’s because his party with all the supposed answers created this mess.
backup Says:
Are you saying that because the old metric of recession aren’t meeting the progressives needs, we need to abandon them for metrics that do?
*
talk to your boy about “metrics”.
in case your hearing is bad he called it a recession too.
*
“metrics”.
that’s elitist for jobs.
#
September 17th, 2008 at 1:21 pmbackup Says:
The reality doesn’t seem to mirror the rhetoric.
__________
Try selling that gibberish to the folks who just lost their life savings when Lehman Bros imploded over the weekend, or Alan Greenspan, who called this the worst economy he’s ever seen. Or take a good look at the plunging stock markets all around the planet today.
Recession? Depression? How about “collapse of the banking system”?
Geez, don’t you ever get tired of embarrassing yourself?
From the looks of the smoking jacket/bow tie combo, apparently not.
September 17th, 2008 at 1:32 pmjoe cantwell Says:
“metrics”.
that’s elitist…
_______
I know, joe. So when some poor schlub gets up and finds out his 401K is now worth $1.49, he’s gonna feel so much better if he can just blame “the metrics”…
September 17th, 2008 at 1:35 pmloosen your bowtie, it’s cuttin off your air.
It’s a recession. It was predicted and predictable. Why are you trying to say it’s not? You quote one guy who is nobody. We quote multiple reputable sources and you still want to call ours “rhetoric”.
I call you’re statement misleading and ignorant. We have a problem and you can’t fix it if you can’t acknowledge that there is a problem. Even mccain has had to face this sad fact.
September 17th, 2008 at 1:38 pmbackup?
backup…?
hmmm.
captain mantastic?
*
September 17th, 2008 at 2:06 pmguess our boy backup
read this little gem in wapo.
*
the deregulator is
now the regulator.
*
this is going to take
some getting use to
for the trolls.
#
good luck.
$
September 17th, 2008 at 2:15 pmCould McCain’s statements be seen as an attempt to keep the “little man” in the market while his friends have a limited opportunity to bail ?
Kind of like the housing bubble: The ones that got in early and got out early made a hefty profit. They ran all sorts of TV programs to convince others to get in. And the late comers are left holding the bag.
September 17th, 2008 at 2:46 pmBackup, do we have to be standing in soup lines all across America before you get it that the GOP and the big companies they back have screwed all of America over? Can you remember the Keating Five or Regan-omics? I can. Enron ring a bell or does it just echo through your empty head?
September 17th, 2008 at 2:55 pmThis is from a couple of months ago. I’ll try to find more current information.
http://finance.yahoo.com/banking-budgeting/article/105427/Uncomfortable-Answers-to-Questions-on-the-Economy
Here’s a clue: If/when we go into recession, it will be plastered on page one of all the major newspapers. That might happen, but it hasn’t happened yet. Despite the cheerleading.
September 17th, 2008 at 3:08 pmMcCain using Hoover’s quote? Man, Grandpappy McSame is older than dirt.
September 17th, 2008 at 3:14 pmhttp://money.cnn.com/2008/09/17/news/economy/colvin_recession.fortune/index.htm
September 17th, 2008 at 3:16 pm
Golvin gets the politically expedient answer:
September 17th, 2008 at 3:27 pm
Colvin.
September 17th, 2008 at 3:28 pmBackup–”Here’s a clue: If/when we go into recession, it will be plastered on page one of all the major newspapers. That might happen, but it hasn’t happened yet. Despite the cheerleading.”
Cheerleading? as if anyone could cheer our country going down the tank.
September 17th, 2008 at 4:26 pmAnd what newspapers are you reading? I don’t have to have it spelled out for me by someone else because I am smart enough to figure out we’re in a recession by looking around me without the rose-colored glasses–and I don’t get my news from FOX. So save the newspaper headlines for the sheeple you’re trying to bs, I’m sure with that at the current rate we’re going it won’t be long before you will have them.
backup,
here’s a clue.
*
of course that’s reality.
and we all know what
conservatives think of reality.
#
September 17th, 2008 at 4:48 pmAny truth to the report that John Sidney McCain, the 3rd(nfot an Elitist) said “I knew Herbert Hoover…Herbert Hoover was a friend of mine…and …I’m no Herbert Hoover!
September 18th, 2008 at 2:54 amJohn McCain keeps contradicting himself lately on so many issues. The fact is that he’s changing his positions based on polls. But, it is certainly to portray himself as the candidate of change. How can you be a “maverick” and at the same time you support the Bush administration in almost every “wrong decision” that George Bush and his administration have made. How can you separate them since they belong to the same political party? No matter how hard he will try to separate himself from George Bush, the stigma of the Bush administration will be there. He’s an opportunist — when the circumstances change, he undergoes a conversion of convenience.
September 18th, 2008 at 12:14 pmAs the Bambara of Mali say, “No matter how much the world changes, cats will never lay eggs.”
http://guyblaise.com/
McSame is only repeating phrases he first learned as a young man during the Hoover years.
The problem is that old Johnny Mac never learned the lessons we as a nation learned from the failures that the Hoover Administration inflicted upon our banks, investments and businesses. As a result he has allowed himself to be bought, and paid for by the children and grandchildren of the same people who first drove America into our GREAT DEPRESSION of 1929.
When McSame says country first, he really means, our country is THE FIRST THING TO BE DESTROYED in the event of a grampy/vampy administration.
Vote Smarter America, Vote OBAMA!
September 20th, 2008 at 1:06 pm