This Explains the Deafening Silence on Economics

[HoleInTheVoid]

L'il 'O has been very deferential to the man he's been ridiculing--and his zealots mocking--over economics. Well, it turns out L'il 'O ain't all that:

[youtube]fjaoJuAYnaI[/youtube]

I know, I know; McCain said he didn't know much about economics.

Well, the libs ran off at the mouth about that, didn't they. Let's see if they can at least be consistent.

Then they'll say: what's important is that he surround himself with smart people who know these things.

uh-huh

He's surrounded himself with Raines, Johnson, Goolsbee et al who made millions while Fannie and Freddie were giving away homes to the undeserving.

Or maybe we'll hear that the smart man waits and sees...

...as Rome burns?

 

[Chris]

McCain's Economic Adviser is ex-Texas Sen. Phil Gramm. On Dec. 15, 2000, hours before Congress was to leave for Christmas recess, Gramm had a 262-page amendment slipped into the appropriations bill. It forbade federal agencies to regulate the financial derivatives that greased the skids for passing along risky mortgage-backed securities to investors. And that, my friends, is why everything's falling apart. That is why the taxpayers are now on the hook for the follies of Fannie Mae, Freddie Mac, Bear Stearns and now the insurance giant AIG to the tune of $700 billion.

 

[HoleInTheVoid]

Stop re-posting the exact same comment in every new thread you jizz-swilling troll. I answered you moronic post elsewhere.

Stick to the topic: your messiah is an idiot.

 

[jreeves]

McCain's Economic Adviser is ex-Texas Sen. Phil Gramm. On Dec. 15, 2000, hours before Congress was to leave for Christmas recess, Gramm had a 262-page amendment slipped into the appropriations bill. It forbade federal agencies to regulate the financial derivatives that greased the skids for passing along risky mortgage-backed securities to investors. And that, my friends, is why everything's falling apart. That is why the taxpayers are now on the hook for the follies of Fannie Mae, Freddie Mac, Bear Stearns and now the insurance giant AIG to the tune of $700 billion.

On July 18, 2008 Gramm stepped down from his position with the McCain campaign.

 

[Chris]

On July 18, 2008 Gramm stepped down from his position with the McCain campaign.

They are still butt buddies.

 

[Chris]

Stop re-posting the exact same comment in every new thread you jizz-swilling troll. I answered you moronic post elsewhere.

Stick to the topic: your messiah is an idiot.

The truth hurts doesn't it?

 

[jreeves]

They are still butt buddies.

Sure they are, if that's true then Obama subscribes to everything Rev. Wright and Farrahkan has ever said...do you really like to play these moronic games...

 

[HoleInTheVoid]

The truth hurts doesn't it?

Is that why you're threadjacking and ignoring my answer elsewhere?

 

[jreeves]

Is that why you're threadjacking and ignoring my answer elsewhere?

You have to realize Chrissy aka corky kirky is a spambot....

 

[Chris]

Is that why you're threadjacking and ignoring my answer elsewhere?

What answer?

 

[jreeves]

What answer?

Do you now admit that Obama subscribes to the same statements as Wright and Farrahkan? Since you would like to obviously link a former advisor to Mccain?

 

[Shadow]

Sooo Barry had a debate with his "investment banker" buddy over the stock market huh. Bet this so called buddy gets thrown under the bus soon...

Barry don't know no Investment bankers,at least none that are the investment bankers he remembers from days gone by...

 

[editec]

First of all stock market investing and running an economy are wildly different things.

That would be your basic econ 101, too.

Secondly nobody thinks Obama is going to know enough to fix the mess all by his lonesome.

Thirdly, the probblems we face right now stem from two things:

1. The fact that the middle class incomes are not rising as quickly as they inflation and costs of living; and

2. The lack of regulating of the banking industry coupled with the piss poor ability of RATINGS AGENCIES to evaluate the risk associated with those bonds.

Now those of us who are supporting Obama do so because we KNOW that the basic philosophy of the Republican party is to eschew regulating business, and we ALSO know that the basic philosophy of the Republican Paerty is to screw the little guy if it helps their rich buddies.

We know this because the record of the Republican party's laws and policies shows us this over and over again.

As to Obama's ability to immediately fix the problems we have now?

Not a chance.

It took us 40 years to screw things up as badly as we have.

So its going to take many years to get things to the point where the middle class of this nation is strong and healthy again.

How long?

Longer than I'll be around, that's for damned sure.

 

[HoleInTheVoid]

First of all the stock market IS the current economic issue.

Second...well I agree with your second, but as my OP stated how many of the O-bots considered it casus yelli when McCain said as much without looking nearly as clueless.

Third, banks are plenty regulated but the current mess comes from Fannie and Freddie and they are deliberately under-regulated so as to ENCOURAGE giving loans to people who would not qualify.