Its all in your head!

[whylaff]

McCain?s advisors really need to check with their candidate before speaking. First, we have Phil Gramm, telling us that it is all in our head, and that the economy is really wonderful. http://www.washtimes.com/news/...sses-mental-recession/

Second, we have a recent John McCain ad informing us that the economy is in ?shambles?, which has apparently been the result of negative thinking. http://www.youtube.com/watch?v=bpyOSLZw8qo

From the times article:

"Misery sells newspapers," Mr. Gramm said. "Thank God the economy is not as bad as you read in the newspaper every day."

Yes, thank God it is just in shambles!

Little background on Phil Gramm, he has been an economic advisor to John McCain since 2007. A former lobbyist for UBS, he deregistered as such in April, however he is still vice chairman. His wife, Wendy Lee was chairman of the CFTC, until she resigned and found a home on the board of directors at Enron.

 

[ayabe]

Yep Phil Gramm, father of mortgage and oil speculation deregulation just told us to stop whining.

Afterall, he and his friends are doing just fine and we should be happy for them, right?

 

[jpeyton]

McCain is already throwing Gramm under the bus over the comments.

Not that it matters; if McCain gets elected, expect to see Gramm's lobbyist ass in a Cabinet level position.

 

[ProfJohn]

Gramm screwed up in the way he characterized it, but he does have a point.

Unemployment is still low historically.
The economy is still growing, although slowly.
Inflation is still relatively low.
And, believe it or not, after adjusting for inflation gas prices are not much more than their previous highs.

Part of the problem is that we have no had a serious economic down turn since the early 80s. Which means that many people under 45 have NEVER worked in a really poor economic environment. So when they feel a little pain they think the world is coming to an end. However, compare our current economic times to the late 70s and you will see what real pain is about.

1979:
Inflation 13%
Unemployment 6.1%
GDP -.23%

2008:
Inflation 3-4%
Unemployment 5.5%
GDP 1%

 

[jpeyton]

Those aren't the true inflation or unemployment figures; those are the 'cooked' numbers.

 

[LegendKiller]

Originally posted by: jpeyton
Those aren't the true inflation or unemployment figures; those are the 'cooked' numbers.

They aren't cooked numbers. As with any analyst who uses numbers you must understand how they are created and how they should be used.

 

[sportage]

Not a fan of Gramm in any way, but I agree on one point...

Gramm also said the media was responsible for fostering unnecessary anxiety over the state of the economy

Thats kinda true.
To hear the media talk about gas prices, you'd think we all are selling our cars and walking everywhere. And traffic on the typical street is down by 95%.

Actually, I have NEVER seen more cars on the roads as now.
I dont think people are as yet changing their driving habits one bit.
If anything, they drive more.
As high as gas is, it comes down to priorities in household spending.
People are still buying the gas and filling the tank, as if gas was free.
But the news media acts like we all stopped driving. CNN, look out the window...

 

[Budmantom]

I thought he was talking to liberals?

 

[Red Dawn]

Originally posted by: Budmantom
I thought he was talking to liberals?

That's why you should leave the thinking to those who are capable of it.

 

[Budmantom]

Originally posted by: Red Dawn

Originally posted by: Budmantom
I thought he was talking to liberals?

That's why you should leave the thinking to those who are capable of it.

Is your suffering real or in your head?

 

[Red Dawn]

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Budmantom
I thought he was talking to liberals?

That's why you should leave the thinking to those who are capable of it.

Is your suffering real or in your head?

I'm not suffering at all and I definitely don't suffer fools like you

 

[Stoneburner]

Originally posted by: Red Dawn

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Budmantom
I thought he was talking to liberals?

That's why you should leave the thinking to those who are capable of it.

Is your suffering real or in your head?

I'm not suffering at all and I definitely don't suffer fools like you

checkmate

 

[ChrisFromNJ]

All Democrats should thank Phil Gramm for giving 527 groups an opening to exploit McCain on the economy.

Americans are hurting right now. That is undeniable.

 

[Budmantom]

Originally posted by: Red Dawn

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Budmantom
I thought he was talking to liberals?

That's why you should leave the thinking to those who are capable of it.

Is your suffering real or in your head?

I'm not suffering at all and I definitely don't suffer fools like you

Are you sure your not suffering..... c'mon?

You may have your card taken away...

 

[Red Dawn]

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Budmantom
I thought he was talking to liberals?

That's why you should leave the thinking to those who are capable of it.

Is your suffering real or in your head?

I'm not suffering at all and I definitely don't suffer fools like you

Are you sure your not suffering..... c'mon?

You may have your card taken away...

Well I am suffering you and your ilk but I can deal with that.

 

[lupi]

Now that I've heard/read most of what he said, it's really not that bad. It's almost like the oil speculation going on. Things are happening that people don't like but can't readilly identify, they know some are being hurt, and everyone fears they could be next.

 

[Moonbeam]

Did you but suffer you would not suffer.

 

[brencat]

Originally posted by: jpeyton
Those aren't the true inflation or unemployment figures; those are the 'cooked' numbers.

Can't comment on the unemployment figure, but agree that inflation is busting out all over the damn place...and has been for close to 2 years now. That's what happens when you 'reflate' the economy through lower interest rates and out of control deficit spending and allow your currency to wipe out.

To look at CPI and PPI "ex food and energy" and say inflation is well contained is complete and utter bullshit when we have had sustained high headline numbers (i.e. the raw figures) for an extended period of time. I believe the real book-cooking started during the Clinton administration and has only gotten progressively worse since.

The financial sector is in total shambles...Citigroup @ $16.21, Fannie Mae @ $13.20, and Freddie Mac at $8, just for a quick sample set...all down ~ 50% since YE'07. We will not have a sustained recovery until this sector bottoms, IMO.

 

[Red Dawn]

LOL, McCain just threw Graham under the Bus


Campaigning in Michigan, McCain was asked just how big a role Gramm had played in the formulation of his economic plan ? and just how much influence the former Texas senator would have if Republicans held on to the White House. ?Is there any chance he would be your Treasury secretary, or play a significant economic policy making role in a McCain administration?? asked one reporter.

The Arizona senator replied that Gramm?s influence might be limited to a corner of Eastern Europe.

?I think Senator Gramm would be in serious consideration for ambassador to Belarus,? said McCain, ?although I?m not sure the citizens of Minsk would welcome that.?


Text

 

[Moonbeam]

It's all a big game where people are taken out of context.

 

[Moonbeam]

Those whiners have a name, they are nattering nabobs of negativity, the moaners and groaners who fear change, the up-to-their-noses-in-shit who cry don't make a wave.

 

[Moonbeam]

Politics is a difficult game because people are psychotic and filled with self hate. You have to walk a fine line through their delusions. They want to maintain strict boundaries in their illusions. They want to know that everybody is worthless but them, but as soon as you put a name to that worthlessness the recognize themselves. The alcoholic gets real pissed off when you try to save him from being a drunk. Imagine if I were talking about you.