as long as people continue to drink Coors Light, Johnny Flyboy's fundamental economy will be strong.
Posted by T2 at September 15, 2008 11:16 AMAs Mother Jones reported in June, eight years ago, Gramm, then a Republican senator chairing the Senate banking committee, slipped a 262-page bill into a gargantuan, must-pass spending measure. Gramm's legislation, written with the help of financial industry lobbyists, essentially removed newfangled financial products called swaps from any regulation. Credit default swaps are basically insurance policies that cover the losses on investments, and they have been at the heart of the subprime meltdown because they have enabled large financial institutions to turn risky loans into risky securities that could be packaged and sold to other institutions.
Lehman's collapse threatens the financial markets because of swaps.
yep, the fundamentals of the economy are strong, thanks to my buddy phil...
Posted by anthony at September 15, 2008 11:55 AMWhy are you heading something McClueless said TODAY with "One month ago"?
He just keeps saying the fundamentals of the economy are still strong, like a goddam parrot! Does he have the slightest idea what "fundamentals" he is even referring to?
Unemployment? GDP growth? job growth? wage growth? National debt? Personal debt? Inflation rate? Consumer sentiment? Savings rate? US trade deficits? US budget deficits? Value of the dollar? NOT A SINGLE FUCKING ONE OF THESE IS "STRONG" or has been strong in a year!
Jeebus, what a fucking fool! And the pinhead independents are going to vote for him because Obama's an inexperienced muslim. Jeebus, what a country.
Posted by euzoius at September 15, 2008 11:59 AMThe fundamentals of our economy are still solid. I think he is right. I don't see anything wrong with our capitalistic economy. No doubt this guy is moron on economy as he himself as declared. But I think this one do not make it into that category.
Posted by BKK at September 15, 2008 01:15 PMWow, Dow down 504, or 4.5%, S&P 500 even worse.
Buy, muck, buy!
We're in big trouble, gang. Bush and the conservative Repubs have wrecked the country.
Posted by euzoius at September 15, 2008 01:23 PMJanuary 20, 2001: Dow Jones Industrial Average = 10,558.
September 15, 2008: Dow Jones Industrial Average = 10,917.
Heckuva job Georgie!
Posted by at September 15, 2008 01:44 PMDepends on how you define fundamentals.
Posted by Tex at September 15, 2008 02:06 PMDepends on how you define fundamentals.
Yeah.
Hewlett Packard just announced they're laying off 24,600 "fundimentals".
Posted by snark at September 15, 2008 02:14 PMSo now that we've bought all this stuff, are we communists yet?
Posted by h at September 15, 2008 02:14 PMOh look - Jeb Bush is tied to Lehman Bros. - look what he did to Florida. Shouldn't that come up somewhere today?
Posted by iamcoyote at September 15, 2008 02:22 PMWhose economic fundamentals are strong? In `ours` does he mean his and Cindy's?
Posted by John at September 15, 2008 02:45 PMAre they John? Are the fundamentals really strong? You admitted you didn't know that much about the economy. I know what I'm experiencing with the economy and it's not strong. You're living in your own little bubble just like George Bush.
Posted by Joe B at September 15, 2008 03:14 PMI think I figured out the real reason McCain picked Palin. If elected, it makes him impeachment-proof. He can do whatever he wants and the dems would never impeach him and risk having Palin step up.
Posted by CG at September 15, 2008 03:58 PMGood point CG!
McLame campaign has lost it.
Posted by angryman at September 15, 2008 05:27 PMOh look - Jeb Bush is tied to Lehman Bros. - look what he did to Florida. Shouldn't that come up somewhere today?
Hey, then hows a come they didn't get a bailout?!
I woulda thunk bro-goon working for them would have been reason one to bail them out?
Funny. Maybe Lehman Bros had too many Dems on their Board or the CEO made a donation to the DNC or something?
Too bad big brother didn't assure them a bailout...as they had probably assumed he would.
Posted by Anjha at September 15, 2008 08:56 PMCG, BINGO! I'm sure that thought crossed their minds and the poor stooge doesn't know it. She actually thinks she was chosen for her "experience."
Posted by Judith at September 15, 2008 11:29 PM