The Fundamentals Of Our Economy Are Strong
by Big Dog on Sep 16, 2008 at 11:45 Political
This is a truth that seems to have escaped those on the left who clamor about all the bad things going on. The important thing to note is that the Fundamentals are strong. Are we hitting some rough spots, yes. Are some major businesses going under, yes and they should. They made risky investments and they paid the price for the gamble. If they had made billions of dollars they would be patting themselves on the back (and democrats would be talking about corporate greed).
There is this ongoing battle about which campaign is playing loose with the truth with Obama supporters saying that John McCain has been lying and they point to a statement made by Karl Rove, of all people. The left has always said he is a man that cannot be trusted but let him say that McCain took it one step too far and it is splashed all over the liberal blogs. The inconvenient truth is that while they were splashing that newest revelation they were engaging in the half truths they admonished McCain for. You see, Rove said that Both campaigns were playing loose with the truth.
This has been happening to McCain for quite some time and it is the media that plays with the truth. Take a look at yesterday’s news. John McCain said “The fundamentals of our economy are strong, but these are still very, very difficult times.” The only part that got reported and that the Obama campaign jumped on was everything prior to the word “but” which means they engaged in the very same thing they have been accusing McCain of and their surrogates in the media helped them right along. Obama obliged by stating; “Sen. McCain, what economy are you talking about?”
I know our economy is fundamentally strong but I also realize there are bumps in the road. But maybe we should look to Obama as a bellwether. Obama took in $66 million in August which breaks his own single month fund raising record. Yesterday, after bashing McCain for his remarks on the fundamentals of our economy and asking what economy McCain was talking about, Obama went to a fund raiser where it cost each person $28,500 to attend. Obama is expected to raise $9 million dollars from the event. This means that about 300 people attended (assuming some of the money went to overhead).
If Obama can raise $66 million dollars in August and have around 300 people pay $28,500 each to attend a function then that is a pretty good indication that the economy is fundamentally strong. Of course this does not take into account the amount of money Obama has been taking from illegal donors in Hamas and from other overseas locations but a reasonably large amount of the money is coming from donors here at home.
How can a candidate and his running mate talk about how absolutely abysmal the economy is during the day and then attend functions where people pay more than a lot of folks make in a year to attend by night? If there is a candidate who is out of touch it is Barack Obama.
At least this should put to bed these victim filled stories about McCain’s half truths. Obama and his media cronies have distorted what Rove said and what McCain said for political gain. Have they no shame?
I read a piece by someone and I can’t remember where but he indicated that if we are now only going to use parts of sentences to portray what a candidate said is it OK to say that Obama said “John McCain did not talk about my Muslim faith?”
Who else thinks the economy is fundamentally strong?
Source:
Drudge
Tags: economy, karl rove, McCain, media lies, obama distortions, obama money
Maybe you’d like to outline exactly what these fundamentals are in this economy that are strong…
The Thunder Run has linked to this post in the – Web Reconnaissance for 09/16/2008 A short recon of what’s out there that might draw your attention, updated throughout the day…so check back often.
You’re a moron. I read that somewhere.
You are some liberal Obama backer so actually, someone told you what to say. You are not capable of thinking on your own…
If John McCain thinks that “the fundamentals of our economy are strong,” then that phrase is effectively meaningless. Unemployment is at a five-year high, consumer spending is predicted to decline this fiscal quarter for the first time in 17 years, and we are currently undergoing the worst housing bust since the Great Depression.
And that’s not even taking into account the fact that one of the nation’s longest-lived and most powerful investment banks, Lehman Brothers, is filing for bankruptcy. Lehman has $613 billion of debt, and the ripple effects of its liquidation will reach far. That’s not taking into account that one of the nation’s largest banks, Washington Mutual, is in serious trouble. That’s not taking into account the woes of one of the nation’s largest insurance companies, AIG and the recent 85 BILLION dollar bail out.. Do we recall the fate of the nation’s largest mortgage lender, Countrywide?
Anyone who has recently reviewed the performance of a 401K or kid’s college fund or IRA probably doesn’t think that the fundamentals of the economy are strong. Anyone who uses his or her car to commute to work probably doesn’t feel that the fundamentals of the economy are strong. Anyone who has been paying attention to the figures on rising bankruptcy filings for individual Americans, the record number of foreclosures, and ballooning credit card debt doesn’t think that the fundamentals of the economy are strong. For at least a year, most economists have been debating whether or not the economy is in a recession.
That’s not a debate you have when the fundamentals of the economy are strong.
Heck of a job BROWNIE!!!!
Tex, the fundamentals are strong (and Bloomberg seems to think so as well). What is not strong are the corrupt people running things and their accomplices in Congress. Obama’s financial advisers are former Fannie and Freddie people, he had a Countrywide guy in vetting VPs and he has taken more money than almost anyone from these institutions. The people who were supposed to be looking at this said all was well, one of whom was Barney Frank and now Pelosi wants him to investigate it.
George Bush wanted this taken care of in 2003 and it was blocked by the Democrats. Just read the NYT piece on it. Democrats left us all these rules about low income home buyers and no document loans (Liar Loans).
As for Lehman Brothers, they took risks and they were wrong. That company failed because of the hubris of its CEO. He took great risks and was wrong. If you bet $5000 on a 100:1 longshot and he wins you look like a genius but if he loses you are out 5 grand. The CEO bet things would be OK and he was wrong. If he screwed up then they should go out of business.
AIG has a 24 month loan so while it is a bail out the money should be repaid. While I do not agree with bailing them or Fannie/Freddie I understand why it was done. AIG holds the insurance on the bond market and the other two held 5 trillion dollars in home loans. Bush wanted restrictions on them and the Dems poo poo’d it. Couple this with their idea that everyone can have a home loan and you have a recipe for disaster.
Big Dog,
It is funny that you stated George Bush wanted to take care of Mortgage companies back in 2003. You stated it was blocked by Democrats. How could this be? Up until the past 2.5 years there has been a Republican controlled Congress and Senate. Say what you want about bailouts but we as a country are spending 50 billion a month on Iraq with no resolution in site.
John Q,
Just because one party or the other has a majority does not mean they can get what they want passed. The Senate has been close in number and without a majority a bill cannot proceed. Both chambers have to end up with identical bills and items can be added that kill the bill. And, a few Republicans voted against it. People need a civics lesson.
Democratic policies of making sure all the poor folks had a house, Democratic cronies making millions off corruption in these entities and Democrats blocking President Bush in 2003.
It all ads up.