Monday, September 15, 2008

Economically Sound

Lehman Brothers files for bankruptcy. Merrill Lynch is sold to Bank of America. AIG loses 50% of its stock value. The Dow loses another 300 points today.

John McCain today: "The fundamentals of our economy are still strong."

But it doesn't stop there. Donald Luskin, a self proclaimed economic advisor to John McCain wrote the following on the economy in Sundays Washington Post. We're not just a "nation of whiners," according to Luskin, we're "a nation of exaggerators" as well.

I wonder if Luskin is wishing his article hadn't been printed right about now?

UPDATE (9/16/08 6:50am):

John McCain thinks we're stupid. In response to McCain's "fundamentals are still strong" quote regarding the economy while he was stumping yesterday, Barack Obama shot back from his campaign by asking, "What economy is John McCain talking about?!" Looking for a way to squirm out of his gaffe and since he is in full liar mode anyway, McCain said he was talking about "the American worker." Those small business owners and entrepreneurs, they're what he meant by the fundamentals. Yes, as the the Dow closed -504 points yesterday, McCain thought he could cast blame on Obama and how he doesn't believe in the the American worker.

Oh, and Sarah Palin started using the "Bridge to Nowhere" line again that she stopped using while in Alaska. I guess she doesn't realize that "national spotlight" includes Alaska where she was able to reign in obscurity until cynically chosen to be the GOP running mate.

3 comments:

chris said...

493 points.
Deregulation, market forces, trickle down theory - yeah, great ideas that a lot of people said wouldn't work and the powers that be didn't listen. And now the whole house of cards is tumbling down.
And I've heard GOP commentators on the teevee machine laying the blame on the Democrats.

chris said...

I was incorrect when I posted 493 yesterday. Looked at the TV thought that that was the closing figure, but things hadn't settled out yet.
(I'm posting this now because if ya read the post and then the comment it looks like I was trying to correct you, when, in fact, I posted that before you posted the update with the 504 number..and I was wrong. Sorry about that)

Broadway Carl said...

No problem, Chris. Facts are facts. Thanks for visiting and come back soon!

 
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