Thursday, July 10, 2008

McCain's Chief Economic Advisor Is A Idiot!

Phil Gramm who has blood on his hands based on his dealings with Enron and the sub-prime mortage lending business, had these sage words of wisdom for the American people about the economy -

"You've heard of mental depression; this is a mental recession," he said, noting that growth has held up at about 1 percent despite all the publicity over losing jobs to India, China, illegal immigration, housing and credit problems and record oil prices. "We may have a recession; we haven't had one yet."

"We have sort of become a nation of whiners," he said. "You just hear this constant whining, complaining about a loss of competitiveness, America in decline" despite a major export boom that is the primary reason that growth continues in the economy, he said.

Thank you Mr. Gramm, I didn't realize that I was imagining paying more for gas and food over the last year. I guess all those people that lost their homes, cars, and jobs over the last year are imagining that as well? I'm sure they will greatly appreciate you clearing up their "mental depression" for them.

People are actually going to vote for "Cryptkeeper" McCain knowing these are the kind of people he will put in charge of the U.S. economy. You really have to hate black people to vote for someone that is going to make sure that you don't have enough money to put food on the table and gas in your car to get to work. White folks kill me getting upset over Barack Obama saying they were bitter, but it's nothing but the sound of crickets when this nitwit calls them "whiners." Funny that!


Shirley July 10, 2008 at 7:00 PM  

McCain and his "Blame America First" campaign: He blamed Americans for the mortgage crisis already. Now, he says that we're in this economic mess because of our collective "victim" status and whining. I can't wait for the conventions so hopefully Obama can call him out on all this crap.

The picture of McCain and Gramm with this post is just so creepy.

Kit (Keep It Trill) July 10, 2008 at 9:07 PM  

I truly believe McCain is suffering from the later part of the early stages of Alzheimers. Phil Gram, on the other hand, is just a criminal.

Professor Tracey July 11, 2008 at 10:05 AM  

Shirley & Kit -

Well said and I agree.

sevenofnine July 12, 2008 at 4:01 PM  

Your readers should know that in his capacity as Chairman of the Senate Banking Committee, Mr. Grahm replaced a very good "Truth in Lending Law" which protected borrowers from bank fraud, with the system we have now. He inserted the new law
IN THE DEAD OF NIGHT without review or debate by his colleagues. It is the system whereby the banks "bundle" good and bad mortgages together, label them as prime investments, and sell shares in them.
The mortgage company thus regains its investment, and is no longer holding the bag when the homeowner defaults.

Grahm's specific role in dismantling the "Truth in Lending Law" is described by journalist David Korn in the 07/09 edition of DEMOCRACY NOW.
He calls Mr. Grahm - "FORECLOSURE PHIL":

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