Quotes from John McCain to calm us while the stock market continues to take a dump…
Posted by MJ on September 16, 2008
The stock market slides even more today after yesterday’s big decline. The economy will be issue #1 until election day unless Bush decides to bomb Iran to distract us. I am sure we can look to John McCain for some words of wisdom reassure the American people…
“I’m going to be honest: I know a lot less about economics than I do about military and foreign policy issues. I still need to be educated.”
Ok, no need to worry because John McCain has advisers to help him…
“You’ve heard of mental depression; this is a mental recession” “We have sort of become a nation of whiners”
Phil Gramm, McCain’s former top economic adviser
But John McCain can relate to the middle class and the common man…
“I think if you’re just talking about income, how about $5 million?”
–after being asked by Rev. Rick Warren to define “rich,” Lake Forest, California, Aug. 16, 2008
“I think — I’ll have my staff get to you. It’s condominiums where — I’ll have them get to you.”
–after being asked how many houses he and his wife, Cindy, own, interview with Politico, Las Cruces, N.M., Aug. 20, 2008
Monday, the day of the stock market crash John McCain would step up to the plate and act like a President you can trust or NOT…
“Our economy, I think, is still — the fundamentals of our economy are strong.”
–Jacksonville, Fla., Sept. 15, 2008
The point of this post is maybe the American people need to look at the economic positions of the other guy running for President.
pashley1916 said
The fundamentals of the economy, are indeed, strong. McCain is correct. This shaking out of the financial institutions is chickens coming home to roost.
Yes, McCain will win this election.
MJ "revoltingpawn" said
The fundamentals of the economy are strong? Record deficits coupled with a weak dollar, high inflation, high unemployment, and a credit crunch are not signs of a sound economy. I wonder what it would take for Republicans to realize there is a problem with our economy? I was thinking the stock market crashing may get their attention. It appears it would take a report coming out saying the number of millionaires did not increase for the month of August to finally send them into a panic.
The Red Pill said
Except the stock market didn’t take a dump today. It gained about 140 points, or around 28% of its loss yesterday. Maybe you want to wait until the closing bell before posting on what the stock market is doing.
McCain didn’t say the economy was strong, he said its fundamentals are strong. The dollar is beginning to gain strength, inflation is on a downward move, and the price of oil (a major economic factor) is continually dropping. And that doesn’t even begin to cover the fundamentals that McCain listed, that you have managed to omit, which are indeed strong.
I know…details, details.
MJ "revoltingpawn" said
@The Red Pill
“Except the stock market didn’t take a dump today.”
At the time of the post I said the market continues to decline. We had some profit taking today and most economists are saying to wait for the other shoe to drop so stay tuned. The market has still taken a “dump” since last week.
“McCain didn’t say the economy was strong, he said its fundamentals are strong.”
I know that’s what he said and he is wrong. When are the American people going to understand that we are broke? Sorry, minor improvements in some stats that were at highs does not mean we are on the rebound. It will take a long term plan to turn around the economy and we are not at the end of continuing bad times so be prepared.
The Red Pill said
Move the goalposts a bit further, why don’t you.
So I guess you are waiting to actually post the facts so that you can drag out the drama, or what?
That is rising.
That is lowering.
You are the one who is tossing out those factors as proof of a weakening economy, not me. But when you are shown that those factors are gaining strength, suddenly they are “some stats.”
Alfie said
That’s very true but is jumping into the deep end of socialism or just taxing the rich a plan ? I also would say that the markets adjusting and everyone reevaluating that is important to any type of plan.
MJ "revoltingpawn" said
@The Red Pill
Your not making sense… When I wrote the post the market had opened down and just because their was a small rebound today does not wipe out the fact since last week the stock market is way down.
“You are the one who is tossing out those factors as proof of a weakening economy, not me. But when you are shown that those factors are gaining strength, suddenly they are “some stats.”
The fundamentals of our economy have been unraveling for a long time. You need to look at the last year and even the last five years to see the trend. All the factors I cited have been a downward trend or weak for a while. YOU are the one looking at the last report of some stat and seeing a sight improvement and thinking that is proof everything is OK. We don’t have weaken economy but one on life support and is not leaving the hospital anytime soon. Where have you been?
George cleaned out the Treasury and still is robbing billions of dollars a month to send to Iraq and now with our dollar being weak (with large deficits the strong dollar kept us afloat but now…) with a credit crush we have little prospects for real economic growth any time soon.
@Alfie
“That’s very true but is jumping into the deep end of socialism or just taxing the rich a plan ? I also would say that the markets adjusting and everyone reevaluating that is important to any type of plan.”
Adjusting the tax code to make it more fair by easing the burden on the middle class and transferring to the well off is not jumping into socialism. The Obama proposals are so tame you couldn’t even call it a retribution of wealth. I real tired of people throwing the word socialism around when we have been more in danger of heading toward fascism.
Alfie, Are you rich? If you are then can afford to pay more taxes and if you are not stop being a tool for them.
Rutherford said
In defense of MJ, check my blog folks. I’ve included a screenshot of some stats shown on MSNBC’s Hardball. The numbers since January of 2001 are not encouraging. Deficit instead of surplus, jobless rate up and debt waaaaaaaay up. And now McCain wants to solve the problem by committee. Give me a break.
I’m just hoping that now that a real issue has supplanted the Palin hysteria, we can now make a sensible choice about who should lead this country.
MJ "revoltingpawn" said
@Rutherford
I can’t believe would need someone to come to my defense that the economy is in trouble…
Ronk said
Okay, here we are quibbling about definitions and whatnot- the problem with our economy is much deeper than can really be expressed here. The current recession or whatever you want to call it is, in my opinion, simply the normal and natural downswing of an economic cycle. Yet what I never see anybody acknowledge is that the downswing is going to match the upswing in its amplitude. I believe current economic theory states that the ideal is to have a large upswing and a nearly non-existant downswing. Which would be why businesses are ever chasing an increase in their rate of growth. It seems to me that growth in a market can only happen for so long, yet companies feel that if they are not growing, they’ve failed. This causes things to happen like the movement to other countries in order to exploit the difference in wages, all in an attempt to keep prices unnaturally low and unchanging as inflation rises. This in paticular has been going on for much more than a decade or two, and is really one of the major problems of our economy. Of course, how do you tell businesses to stop chasing growth? Sorry if this made no sense, it’s early and I’m somewhat groggy…