disneydude

Interesting Op-ed piece:

Eugene Robinson - Flunking Economics - washingtonpost.com

John McCain was telling the truth when he said that economics wasn't his strong suit. In response to what many economists have called the worst financial crisis since the Great Depression, the Republican nominee has sounded -- and let's be honest here -- totally, embarrassingly and dangerously clueless.


This is the man who's going to reform the economy?

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bhkad

Did John McCain try to prevent this from happening in 2006 or didn't he?

Hot Air Blog Archive McCain’s attempt to fix Fannie Mae, Freddie Mac in 2005; Update: Obama can’t get AIG right

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But, when all is said and done, Senator McCain has not spent decades aiding and abetting people who hate America. http://jewishworldreview.com/cols/sowell060508.php3

disneydude

Does John McCain know enough about the economy?

Lets ask John McCain:

obvious Child

Marginally at best.

Aquapub tried that argument.

Here's the full bill.
GovTrack: Senate Record: FEDERAL HOUSING ENTERPRISE REGULATORY REFORM... (109-s20060525-16)

That doesn't address the problems or the origins of why the housing crisis began. All that does is pay incentive systems. It doesn't address the securitization, it doesn't address the bad ratings, it doesn't address the low federal interest rates, it doesn't address the new mortgage products, it doesn't address the myriad of problems.

Besides, 2006 was already too late. The subprime had already been in full motion for a year.

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bhkad

The truth is that neither man has the credentials to be considered an expert.

THEY ALL RELY ON ECONOMIC ADVISERS.

McCain was being candid and honest like Biden was when he admitted Hillary would have been a better VP pick.

But don't fool yourself.

Obama would have economic advisers. McCain will have economic advisers.

If you really think any president is an economic expert you've been watching too much "West Wing."

disneydude

That's true, but obviously Obama shows much better judgement and understanding than McCain.

McCain chooses top advisors who say that the hard economic times are just a "mental recession" and that we are all just a "nation of whiners" and people who constantly complain.
That's why McCain has said time and time again that the "fundamentals of the economy are strong" and that it is really just "psychological".

McCain has stumbled and bumbled his way through the latest economic crisis and even in the midst of it had the audacity to claim that "the fundamentals of the economy are strong".

Someone finally got to him and told him to stop saying that...but the reality is, McCain doesn't get it.

If McCain doesn't know the economic is broken....how can we expect him to be able to fix it?

bhkad

In this regard McCain was like "Tank Man."

His efforts may have been unsuccessful. He may have never stood a chance.

But who tried to do more?

Who else tried doing anything?

Rather than faulting McCain we should be praising his efforts and rushing to his campaign to encourage him.

We have seen that a single Senator has little power to go against the tide by themselves. That is why we need to give McCain and Palin, two real reformers, a mandate to clean up Washington.

Or would you have nit picked at Tank Man, too?

disneydude

WOW....McCain looked completely desperate today on the news programs stumbling through his rallys.

But THIS really is desperation at its unattractive worst.

McCain = Tank man.....wow......that's sad.

bhkad

How many times do you have to be told??? Obviously you haven't got a clue to what is going on. You are just reacting to the sense of alarm and drawing faulty conclusions.

I will try it in a different way.

The fundamentals of the economy are strong.

The actions that have been taken by Paulson and Bernanke have been to PREVENT damage to the economic fundamentals.

The Government has bought up the bad paper so that the financial institutions won't be burdened with it and investors and consumers will have confidence in those financial institutions.

By taking the bad mortgages off their hands the market is no longer leery of these giant financial institutions. The actions taken by Bernanke & Paulson have been masterful.

They have PREVENTED damage to the economy. There will be some rich folks who lose money. But if the moves that have been taken so far work as expected there might possibly be ZERO cost to taxpayers.

But the bottom line is that all the economic FUNDAMENTALS ARE STRONG.



American Power: Economic Fundamentals

SouthernDemocrat

Do you outsource all your thinking to OP/Eds? We have a crisis in a unregulated derivatives market that is 3 times the size of United States GDP and you are trying to polish that turd into "The Fundamentals of the Economy are Strong"?

For the first time in U.S. history, there are Credit Swaps being sold against Treasury Notes.

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