"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 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.
"We've never been more dominant; we've never had more natural advantages than we have today," he said. "We have benefited greatly" from the globalization of the economy in the last 30 years.
TPJ: Wow, not only does John McCain know nothing of the economy and needs to learn more, of his own admission but he doesn't even know how to pick an adviser who knows what they're talking about!! Whiners??? Call it what you want Phil but when I can barely pay my rent, pay for gas to get to work at a job that pays less than jobs like it did in the past and my parents are at risk of losing their entire retirement investments then yeah, I get a pretty pissed off.
We've never been more dominant? Maybe for you fat cats up in your ivory towers who make 400 million dollar salaries and million dollar Christmas bonuses but for us lowly serfs we're not feeling very dominant. Of course you'd say that we've benefited greatly from the global economy in the last 30 years. You and your other rich knuckle head friends have doubled your incomes (Does UBS ring a bell Phil?) while we lose our jobs and double the numbers in the line at the unemployment office. The only people that are benefiting from shipping jobs overseas are corporate, cigar chompers like Gramm.
If the economy is so good then why doesn't Phil give us some of HIS money since he's doing so well. Apparently McCain said that Gramm doesn't speak for him but he must have some influence on McCain if he's his top economic adviser!!
I know that I am prone to hallucinations when I'm not on my meds but I'm pretty sure that the $4 a gallon gas prices on the signs aren't just "mental." Last time I checked it's real money that's hemorrhaging out of my wallet at the pump and at the grocery store.
Then you have Carly Fiorina who is another economic adviser to John McCain and she played a huge role in driving Hewlett-Packard into the ground. My father had to quit H.P. after 30 years of employment because Carla was "streamlining" the company. After all those years he was simply asked to pick up his things and was walked out of the plant.
Well, that streamlining ended up shutting down the plant in my town where a large portion of the city was employed. Thanks Carly!! And where did they ship most of the operations from that plant? You guessed it--India. :/
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