Monday, September 15, 2008
"Fundamentals..."
I wouldn't even pretend to be an expert on macroeconomics. Which is a good thing, because I'm not running for president. But John McCain is. So what the hell does he mean when he says, "The fundamentals of our economy are strong...":
When two Wall Street giants collapse (or are bought out) and an insurance giant is about to topple, not to mention ongoing housing woes, having the Republican presidential candidate -- who has previously admitted not knowing much about the economy -- say that the "fundamentals are strong" is an exercise in walking in fantasy land. This is the same candidate who had an adviser not too long ago saying that the nation is simply in a "mental recession."
The point is, there seems to be a disconnect between McCain and reality here. It wasn't too long ago that one of the major Republican Party talking points (often used to advance the idea of helping privatize Social Security) was pointing out that 50 percent of American households were now invested in the stock market. Well, if that's the case, Republicans must know that the market's recent rocky ride isn't just hitting wealthy people, but many middle class folks.
In other words, even if McCain doesn't believe the economy is in such a bad shape, perhaps this would be a good time to go with the public mood. Given the pounding he's been taking from the press from misstating Obama's record, he might as well "lie" about something that most people actually believe to be the truth: The economy is in a bad place and something needs to be done about it.
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When two Wall Street giants collapse (or are bought out) and an insurance giant is about to topple, not to mention ongoing housing woes, having the Republican presidential candidate -- who has previously admitted not knowing much about the economy -- say that the "fundamentals are strong" is an exercise in walking in fantasy land. This is the same candidate who had an adviser not too long ago saying that the nation is simply in a "mental recession."
The point is, there seems to be a disconnect between McCain and reality here. It wasn't too long ago that one of the major Republican Party talking points (often used to advance the idea of helping privatize Social Security) was pointing out that 50 percent of American households were now invested in the stock market. Well, if that's the case, Republicans must know that the market's recent rocky ride isn't just hitting wealthy people, but many middle class folks.
In other words, even if McCain doesn't believe the economy is in such a bad shape, perhaps this would be a good time to go with the public mood. Given the pounding he's been taking from the press from misstating Obama's record, he might as well "lie" about something that most people actually believe to be the truth: The economy is in a bad place and something needs to be done about it.
Labels: John McCain, Lehman Brothers, Presidential politics
