"As Wall Street collapses, McCain declares that ‘the fundamentals of our economy are strong.’"
Speaking in Florida this morning — the very day that two of Wall Street’s major banking institutions collapsed — Sen. John McCain (R-AZ) declared he “still” believes “the fundamentals of our economy are strong.” Watch it:
Though McCain noted that “these are very, very difficult times,” he seemed oblivious to today’s evidence of the crumbling foundations of the economy, with the Dow Jones industrial average dropping 300 points in the first 15 minutes of trading this morning. Yesterday, former Fed chief Alan Greenspan said this economy is the worst he has ever seen. (HT: Ben Smith)