Should the businesses not whine next Christmas when we don’t have disposable income to spend on their imported junk because energy prices are outrageous?
If/when the gas prices come down, I think most people will be amazed by how quickly the economy “recovered.” It’s easy to believe things are bad, really bad, when you’re faced with $80-100+ every time you fill up your tank.
With all the BS in the media, it’s very hard to tell what exactly IS the truth re: our economy. Our electrical contracting business had a record month in June, but we know that other sub-contractors and generals are facing tough times. In my own direct-sales business, women are having no problem spending $60 in order to get a FREE $15 gift with purchase, yet the overall sales in my organization are down. I think it’s a mixed bag, definitely not an official recession and there IS a lot of “mental” recession due to the non-stop slamming of our economy and country, overall, by the MSM.
I’ve just been told my electric bill will go up 26 percent at one time and my home heating bill will be up more than 50 percent this coming winter. But don’t worry, Phil, I won’t whine. I’ll be too busy shivering and tripping over things in the dark.
Fannie Mae and Freddie are bankrupt, IndyMac collapses, today WaMu is down 25%, many bank collapses in the future, gas pushing $5/gallon, highest energy cooling bills in history, this winter will bring the highest heating oil costs in history, groceries up 25%, ...
But it’s all mental and we’re the “mushminded”. Ok... Yeah, that will win the election in November. Real good stuff here...
Fortunately, McCain isn't stupid enough to repeat these sentiments in public.
(Snip)
On Friday McCain's domestic policy adviser Douglas Holtz-Eakin told Darren Gersh, a PBS "Nightly Business Report" correspondent, that Gramm is no longer giving advice to McCain or his aides on the economy. "I haven't spoken to Senator Gramm since the comments took place, and I'm not expecting to," Holtz-Eakin said.
Today [Sunday], McCain economics adviser Carly Fiorina chimed in on NBC's "Meet the Press": "I think John McCain has been real clear that Phil Gramm wasn't speaking for him and in fact John McCain has said now for many months that he believes the economy is in a recession. ... I don't think Senator Gramm will any longer be speaking for John McCain. I think John McCain was crystal clear about that this week."
bump for Senator Gramm!
I always love his comment about gun ownership:
“Ah have more guns than Ah need...
and fewer guns that Ah want!”
Hey, I didn’t follow the Bear Stearns debacle that closely. Do you guys remember the libs trying to pin the failure on free-market, supply-side economics (and economists like Gramm)? Remind me if you can.
Our economy and much of the economic damage done in recent should go in the textbooks as what a “self fulfilling prophesy” is.
If you talk about doom and gloom long enough in the media, if a Presidential candidate himself adds doubt and creates fear out of political self interest..... Well, what you get is what we have. A robust economy structurally, globally competitive, where world markets look good, yet is stalling because of fear alone.
Didn’t FDR (Democrat) make some statement reference fear and the economy in 1933? I guess Obama didn’t learn about that in Indonesia.