McCain lashes out at economists
I have to say, I’ve had quite enough economist-bashing for one campaign cycle.
We had some unpleasantness last month, but John McCain is clearly picking up the ball and running with it.
First, I don’t know what McCain has against economists. He’s hired a whole team of them to try to rationalize his ridiculous economic policy.
Second, it’s not just economists who realize McCain’s gas-tax idea is absurd, it’s common sense. We have a fixed supply of gas, so even a little critical thinking shows that “the tax cut really goes to the oil companies.”
And third, blaming economists for failing to predict the housing crisis is especially inane, since the opposite is true.
The problem isn’t the economists, it’s McCain’s reluctance to listen to anyone outside his bubble. Well, that and his own ignorance, despite three decades as a Washington insider.
McCAin: We lose money per unit but make it up in volume.
He has to appeal to the stupid. If he can't even get the stupid people on board, he has NO chance. He knows that stupid people hate anyone who actually knows something.
Find ten economists and you will have eleven opinions.
On the other hand, McCain's economics make voodoo economics (remember them?) respectable.
Alice Hussein Chomsky Nader @ 3:
No disrespect meant to voodoo.
lying about his past history regarding priv. social security
he is mcChanging into a NEOCON
short video total lie
http://thinkprogress.org/2008/06/13/mccain-social-security-bamboozle/
More proof that he's a Bush clone - as if we needed it.
Bush surrounded himself with sycophants, now we have McBush doing the same. God help us if this petty tyrant assumes the throne.
Krauthammer actually said something that sounded like it made sense the other day. To wit, when gas crossed the $4 barrier, people started acting rationally, that is, parking the SUV and looking for ways to conserve gas. He even went so far as to suggest a tax on gasoline to set a floor of four bucks so people don't get the ridiculous idea of buying gas-eating monsters for no good reason ever again, and that if such a tax were ever passed, we wouldn't need any further regulation like CAFE to get automakers to make smaller, more efficient cars. I'm not so sure about that last part, but it seems to make sense.
Sound like anyone we know?
McMoron!
"...(I)t’s McCain’s reluctance to listen to anyone outside his bubble.
http://www.youtube.com/watch?v=OjymtNGUhFA
On the day of the Penn. primary gas was $3.72. Within a week it was $3.94.
Give a tax holiday and the price will go down for about one day at the most.
Who would have thought the republicans could have found someone more delusional, ignorant and hostile to the people of this nation than George W. Bush.
For decades we've been saying that the monied interests have been trying to dumb down the populace...McCain appears to be the end result of that process.
The sad thing is that I can't tell if he's just a buffudled reactionary methusela, or a pathological liar.
Wuzup Hussein Dawk @ 8:
like scott mcClellen revealed that bush doesn't want to talk policy he just wants to go by his gut.....mccain same type of guy....why they're not good communicators at this level and they don't like exposing that any more than they have to.. plus they can say they never heard an alternative(s).. of course you didn't ..you didn't discuss it with anybody...we go this route again we're going to huge consequences
http://youtube.com/watch?v=EaR1CnfyrEo
This video says it all about McCains understanding of economics.
Bush's 3rd term , indeed: the prostitution of the office to the oil companies will continue, living in a delusional bubble will continue and wars without end, amen, will continue. We are going to have it definitively and quantitatively spelled out for us this November just exactly how stupid x% of our voting population is.
Let's face it folks, McCain is in over his head. He doesn't know jack sh*t about anything. He's never needed to know economics or anything else.
Now he's in the middle of this campaign and every time he broaches another subject he gets tangled up in his own words. If he were knowledgeable on these topics he wouldn't stumble every single time.
That's the reason he seems to lean which ever way the wind blows. He is just clueless and hopefully the American public will see this before November.
It's even stupider than that! When your government is in the red, ANY tax cut simply adds to the debt, which is paid back in compounded interest. Same with Bush's idiotic rebates. A check for $600 just ends up $1800 of debt when all is said and done.
Stupendously stupid stuff. These Republicans are morons.
Check this out:
McCain Cancels Fundraiser with Oilman Who Joked About Rape
http://blog.washingtonpost.com/the-trail/2008/06/13/mccain_cancels_fundr...
And here's the video:
http://www.youtube.com/watch?v=OY3mWJ1Cd0Y
"his own ignorance, despite three decades as a Washington insider"
Sure you didn't mean "because of" rather than "despite"?
Agree with Steaming pile: Just received a message from a friend in Belgium who will be visiting us in Aug. It seems they are now paying about $10 pg for gas; he thinks it will be a real treat to have to pay only $4. pg
The price is about the same (give or take) across Europe and they are not falling apart; life goes on. But of course they have much more gas friendly cars and big SUV's are fairly rare. And if I remember correctly they do not have as many single family dwellings. They adapt, so will we.
Over here have been driving a Suzuki XL-7 which is a 4X4 and I guess can be called an SUV. It has the space I require but only a 2.7 L engine which is smaller than many midsize cars but has a lot of torque so it feels stronger. It does everything it needs to do, it's been in the deserts as well as the mountains and performed fine. Have never felt I needed anything larger just for the sake of it being larger.
Economists have nothing to do with the mortgage problem.
That comes from Clinton & Bush letting pigs run wild, by
tossing the restraints that were in place to regulate them.
I believe the oil commodity market is being manipulated much like electricity was by Enron in the '90's . Restore some regulation (horrors!) and the same criminal mentality that browned-out large chunks of the nation in that era will be neutered . McCain isn't delusional, he's a fucking liar who profits from the hardship of the average joe, just like Bush and Cheney.
Wuzup Hussein Dawk @ 8:
Two pricks in one bubble and it still won't pop. Go figure.
Best news I heard today was that Senator Obama will do only one town hall meeting with McCain and it will be held on the 4th of July. Nice move Obama campaign. I'm proud of you.
Why would McCain have ever known anything about economics. His wife is rolling in money so I doubt he has any idea about what a budget consists of or how to balance one. I'm guessing he's never had to balance a checkbook.
iraqhusseinconcilable @ 23:
i'm with you.........he is lying and youtube will expose him..for some demographics this is going to be the old grandpa routine.....some people will fall for it..this is kind of funny
http://bravenewfilms.org/blog/41727-oh-mccain-cartoon
fastfeat @ 24:
Too bad there isn't a commentators award, I would give it to you for that comment.
pissed off patricia @ 27:
Coming from you, POP (oops, didn't even realize that!!), that beats any crummy statuette I could get. Thanks.
(Now, if we're talkin' cash or gas for my truck, I might sell out...)
More hostility to the experts?
If the reichwing are so hostile to experts, than why should we respect their presumed expertise?
McMoron: My doctor didn't predict I'd get sick, so I'm not going to a doctor to get better.
McBrain sure gets mad at lots of people. Blaming the economists is like blaming your gardener because he knows the grass grows after a good rain.
How long before McInsane blows his top on national TV?
OT, but the Obama Campaign is really on top of things with the Web=Page to expose the Lies being generated by the GOP and their troll minions. The guy knows how to use the Tubes.
McWebsite meanwhile is, is, lets see ...... uhhh ... adolescent, no ... Childish, no ... oh, remedial is the one I was looking for.
This, from the yahoo who has Phil Gramm as an economic advisor. Phil Gramm, we must remember is employed as a lobbyist for the Swiss bank, UBS. UBS lobbied hard for the deregulation that caused the mortgage crisis. They were also up to their necks in the gold of murdered Jews back during the deregulated good old days of Nazi Germany! Why this isn't being shouted over the airwaves and on the front page of every newspaper is because the corporations that own the media just LOVE their dee regulation; which is another, nicer way of saying tossing out any and all legal restraints as they might apply to corporations. Corporations must be above the law in order for free trade to work blah blah oh crap anyway....
fastfeat @ 29:
LOL, you guys are kiling me. was that funny or am I so hammered it just seemed hillarious?
(dnt have time to correct my own spelling)
"...his own ignorance, despite three decades as a Washington insider."
Don't you mean because of three decades as a Washington insider. Ignorance -- or rather, the counter-productive behavior leading to it -- can be learned.
all this is is passive-aggressive..pandering he revealed he didn't know much about economics so now he is saying what's the big deal the economists don't know much either...he is being pushed into this strategy to off set his stated short comings........this is for black and white thinkers
He has positioned himself to be the agent of change and is posturing as the 'maveric' outsider that will affect change.
All fraud.
He is a lobbyist stuck in a presidential canidates body. he knows nothing of running a country. He only knows how to pass laws that favor hisself and his cronies.
McHeconnedandmissed
McEconmoron
McHeconninme
McHe'salwaysbeenastupidfuckinlyinsackashitjustmorepeoplenoticingnow
;-}
♠Bangkok-Bob♠ in Chiang Mai @ 36:
You aren't that hammered, we are just breathtakingly funny. Or maybe we aren't and I'm just buzzed on chocolate candy.
Wait just a dog bone minute. Have any of you noticed that "economist" has the same ending as "communist"?
Maybe he's not so stupid after all. Hmmmm?
36 ♠Bangkok-Bob♠ in Chiang Mai Says: fastfeat @ 29:
pissed off patricia @ 27:
fastfeat @ 24:
Wuzup Hussein Dawk @ 8:
Two pricks in one bubble and it still won’t pop. Go figure.
Too bad there isn’t a commentators award, I would give it to you for that comment.
Coming from you, POP (oops, didn’t even realize that!!), that beats any crummy statuette I could get. Thanks.
(Now, if we’re talkin’ cash or gas for my truck, I might sell out…)
LOL, you guys are kiling me. was that funny or am I so hammered it just seemed hillarious?
(dnt have time to correct my own spelling)
Wouldn't that be advocating violence?
44 seevee Says: Wait just a dog bone minute. Have any of you noticed that “economist” has the same ending as “communist”?
Maybe he’s not so stupid after all. Hmmmm?
Creationist?
GOP ... These are the same GOPers that didn't predict the 911 attack on 'murica, even thought the exiting administrations told them it was likely.
Wall-street "experts" claim mcsame is better for the economy.
http://www.reuters.com/article/politicsNews/idUSN1334411920080613?pageNu...
I especially love this line
""In this environment that we're in right now, the last thing you want to have is higher taxes and taking money out of the consumers' pockets," he added."
because you know, wealthy people drive consumer spending. I wonder how many times this bs will be repeated and how many idiots will believe it. Then of course we have the ditto head factor which won't vote for an ebil librul. Wouldn't surprise me if mcsame ends up as presnit assuming of course bushie decides to step down.
Yeah, I'm not very hopeful. I would like to see a real liberal take the reins but that didn't happen in the dem primaries and the polls right now are very worrisome. Yes I'm aware they only poll people with landlines, guess what, people were saying the same thing in 04 and yet it came out just close enough that with a little bit of shenanigans the republicks were able to steal the election.
ysbaddaden @ 45:
oh oh, now their gonna violate me. LOL trespassers will be violated.
I need some sleep, it's 2:30 and I will be owning a huge hangover in a few hours.
ltr flks.
I agree Obama aint all that either but instead of fattening up rich people maybe he could fatten up the middle class a little. The bottom line I think is we need high paying Jobs.
ysbaddaden @ 45:
I didn't hear anyone call for violins.
Good night Bob. I don't think I have to tell you to sleep tight tonight. I think you've already reached that platform.
44 seevee Says: Wait just a dog bone minute. Have any of you noticed that “economist” has the same ending as “communist”?
YS says: Maybe he’s not so stupid after all. Hmmmm?
Creationist?
Damn! Leave it to a realist to explode my rational.
pissed off patricia @ 43:
OK, I'll give it to Jack Cafferty for some Bavarian Mints and a fifth of Tanqueray...
McCain: telling economists to get off his lawn since...lawns were invented.
The more McCain complains about knowledgeable professionals the more ignorant he looks. Smart people look to other smart people to learn more about any particular subject. McCain is scared to death that his ignorance on all topics will become painfully clear, so he hides behind anger.
America creates monsters like McCain. Let them get away with everything at every turn, what do you get. A monster.
America is working on a new monster. Nancy Pelosi. Won't be long until we all see what her handywork has in store for us.
McCain is just playing to his base, the ones who think higher education is the devil's workshop and anybody who uses polysyllabic words is an effete elitist. The worshippers of the dull. The idolaters of the ignorant. The dumb dumber downers.
Personally, I'd like the F'ing leader of the free world (right) to be an intellect, a person who understands subtleties and interconnections, someone who is curious and clever.
You know....an elite.
Listen, I can't stand McCain, but it makes my skin crawl to hear this site blanketly defend economists. Current, main economics (i.e. neoclassical economics) is responsible for justifying, in the minds of many, current policies that harm the environment and continue exploitation of 3rd world countries. This brand of economics is based upon a set of seemingly plausible but arbitrary assumptions that are not tested, usually, by neoclassical economists. When some of the key assumptions have been tested by others, they have been soundly rejected. Also, the theory behind NCE has been shown to be logically inconsistent even if these assumptions were true, which they aren't. I'm all for common sense and exposing McCain and Rethug idiocy, but please don't do it at the expense of cozying up to a group that you should be very skeptical of. If anyone doubts what I have just said, I can provide a reading list and quotes from recent winners of the Nobel Prize in economics.
meant mainstream economics
I guess what prompted the verbal ejaculation above is the use of the term economists without a modifier. Economics is a huge area with camps in staunch opposition. Economists range from the true genius to the laughable ideologue.
Alice Hussein Chomsky Nader @ 3:
Speaking of George Herbert Walker Bush, maybe "economists" will beome McCain's whipping boy as the ACLU was for Bush I. We will have to keep track of how many times McCain says "economists" with a sneer.
49 seevee Says: 44 seevee Says: Wait just a dog bone minute. Have any of you noticed that “economist” has the same ending as “communist”?
YS says:
Creationist?
Damn! Leave it to a realist to explode my rational.
Shouldn't that be rationale?
How many rationalists do you have to squeeze to get rationale?
49 seevee Says: 44 seevee Says: Wait just a dog bone minute. Have any of you noticed that “economist” has the same ending as “communist”?
YS says:
Creationist?
Damn! Leave it to a realist to explode my rational.
Shouldn’t that be rationale?
How many rationalists do you have to squeeze to get rationale?
Yes, it should.
I'm a poor spellist.
I can see it now.
RATIONALE "one sip and you'll understand"
Isn't blaming economists for the economy like blaming the weathergirl for the weather?
What is this???!!!! Tax revenue for government programs and services?!!!
This is against everything the Decepticon Party stands for!
"heh-heh-heh-heh-heh-uahhhh"
59 seevee Says
I can see it now.
RATIONALE “one sip and you’ll understand”
That's what Dr. Jekyll certainly discovered.
I'm a spielist.
It's nappy time
No, I'm not an infantalist
I just need some zzzz's
hey....hillary tried the same line....it cost her the election
keep it up mcdoofus
I remember the congress , just about a year ago ranted about "red lining" not allowing sub-prime loans to guess what people that could not aford to pay them back. This is all the Law makers fault that structure the "policy" Keep doing nothing and we will be in a ressesion and gas prices could be $9-10 dollars per gallon. Let the oil companies put more OIL on the market. You know supply and demand! DUH!
What a dumb bunch of people in the USA Congress. Who has been making the rule now for two years? Vote the socialist out! America is a Capitalist Country, if you want socialism go find it! It is not going to play in my USA.
and JOHN "The Bush Republican" MCCAIN'S advisors didn't predict the election crisis he is in.....
sorry John.... they are already measuring you for retirement.... and looking for the appropriate VP to replace you
More anti-intellectualism from the Republicans.
Smart, educated people? Republicans don't like 'em!
A Pox on Both Their Houses (and Senate): There is plenty of blame to go around, and Democrats were never innocent bystanders. I've been predicting this disaster in waiting, and so have most economists. It is Congress and the Fed that failed to act. They had at least 3 to 4 years to look the other way (and we all know why), both Dems and Republicans. Not a single populist-liberal had any concern -- and we know why now: they were all in the pocket of those who concocted this subprime mortgage ponzi scheme. Congress thought it was just wonderful: everyone gets a free house (at least for a while and then could just walk away), foreign investors footed the bill and took all the risk for repackaged junk mortgages labeled fraudulantly as triple-A bonds. The real cost to you and me over our lifetimes could be a trillion dollars! And it would have taken Congress 10 minutes to fix any number of a hundred ways. This is now the third such trillion dollar financial scandal in the past two decades: S&L/McCain/Neil Bush meltdown, the ENRON/Global Crossing/etc. scandal and now the subprime mess. Each involved no losers or penalties, big profits or capital gains shared by millions of people, and Uncle Sam cleaning up things while citizens suffer. When will we learn that self-regulation and private auditors is putting the fox in the henhouse. Free markets can only be efficient and equitable if information cannot be hoarded by one side and downside risks cannot be shifted onto unwary parties, such as taxpayers.
Sure, blame everyone but the ruling party, that allowed it to happen. Why not blame Clinton? Hell, blame Cindy Sheehan.
Big snore grandpa.
wvguy @ 54:
You are certainly correct that certain Economic schools of thought and certain economists are a big part of the problem. While we bash McCain for adopting a pseudo-populist know-nothing tone, we shouldn't forget that he will no doubt be receiving "sound advise on fiscal policy" from the same wisemen who helped deliver this mess in the first place.
EconProf Says: some sanity is visable.
Edwin Hussein Says: Sure, blame everyone but the ruling party, that allowed it to happen. Why not blame Clinton? Hell, blame Cindy Sheehan.
Sir, The ruling party for the last two years has been Democratic! Remember 2006?
The majority, House and the senate make the Laws that contol all policy. The President only signs or vetos legislation. The Democrats are the cause of the obstruction of the Iraqi War, that we are winning now. The talking down of nationalizing oil companies, the talk of winfall taxes on oil companies. Democrats are threating a 6.72 Trillion dollar energy tax for Global Warming or now as they calll it "Climate Change". Fools tax for all sponge heads that will believe anything that the "party" Spreads. The Ozone hole in the atmosphere that fixed itself.
The Ice Age that was coming in the 1970's. Government is not the solution but the problem. They are there to line their pockets.
It's easier to fool and control the ignorant and the unintelligent # 67 , you are right , like Stalin and his purging of the " intelligentsia " , he felt they were a threat to him . Sorry to bring it up but Hillary Clinton poo poo'd all of the economists too when she was trying to score points by supporting the rediculous temporary gas tax relief plan , playing to all the dim bulbs among us .
Yeah, go lending a shitload of money to people who can't afford it - who could have predicted that would cause problems.
Y'know John, if you want to rip into people for not predicting the tragically obvious, there's a little thing going on in Iraq that was supposed to be over five years ago.
HW #71
Good point, those Democrats who were elected in 2006 promising "Change"
are the reason that I am having a hard time buying the Obama/Dem
promise of "Change" in 2008. Their kind of change scares the hell out
of me. I would much rather hear their ideas about improvement or
renewal, but I don't think they have any.
Can we finaly agree that Reagan voodoo economics don't work? Are our taxes going up, of course. How else are we going pay for the last eight years of incompetence? Hope the money fairy leaves us about 2 trillion dollars under our pillow?
Can we finaly agree that Reagan voodoo economics don’t work?
-------------
No economics works. The economy moves in cycles- period. There are short term cycles and long term cycles. Demand side, supply side. Inflation, deflation.
What works for one period of time, does not work for another.
Hoover couldn't prevent The Great Depression and Roosevelt couldn't end it.
Gold prices inflate and deflate. House prices inflate and deflate. Stock prices inflate and deflate. Bond prices inflate and deflate. Wages inflate and deflate.
It is the law of cycles. Polititians gnash their teeth, but the law of cycles prevails.
Clintonomics, Reaganomics, Obamanomics, McCainonomics- all will fail in the face of the law of cycles. There is no perpetual motion economy. There are booms and there are busts. Every economic expansion ends in a recession.
Everybody loved the stock bubble while prices were going up. Everybody loved the housing bubble as long as prices were going up. Everybody loved the Clinton era boom, as everyone was working. But every boom ends in a bust and every bubble bursts.
All economics is voodoo. There is an up cycle and a down cycle. There is no avoiding it through economic policy.
Maybe McCain should have actually read a magazine with the Economist in the title. Headlines from the Economist magazine in May-June 2005:
May 3rd, 2005
To Buy or Not to Buy. That is the Question.
Today it is often much cheaper to rent than to buy a house.
May 26th, 2005
The Frothy Housing Market
More evidence that the housing market has lost touch with reality.
June 16th, 2005
The Global Housing Boom
In Comes the Waves:
The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops.
June 16th, 2005
After the Fall
Soaring house prices have given a huge boost to the world economy. What happens when they drop?
Right now all things are finding a bottom so things can be priced. Low interest rate for to long caused congress to give away mortages to the poor that could not be paid back as interest rates rise. These loans were sub prime and the borrowers we in question from the start. The loans were not fixed rate loans but adjustable interest rates, so when the interest rates increased the monthly payment went up and soon the sub prime borrower started to defalt on those loan. The congress causes these problems for political agendas that have nothing to do with the will of the people. Just another polititian lining their pockets. Government is NOT the solution but the fault. Global Warming -made up, complete hoax so tax payers pay for a tax on all energy. This will kill America. Imagration-why is it not stopped?, High gas prices? Caused by congress by protecting land that we could drill and reduce prices by using our Trillions barrels of natural gas, Oil shale that was frozen by the dems so gas prices would rise and they can sell you the Global warming Hoax and that the oil companies are the problem. These guys are the reason we have any gas. The majority congress is the do nothing congress and the real problem.
@76 Ron.j:
Its not some abritrary "law of cycles" that cause boom and busts. Economic expansion does not mean it MUST end in a recession- except in the cases of artificial economic expansion- this happens because of the Federal Reserve interfering with the economy. Fed reserve policy caused the dot-com boom and bust, then to prevent the correction needed, they lowered the interest rates some more and created a real estate boom and bust. Clintonomics, Reagonomics, Obamanomics, McCainanomics- they all have many things in common, namely, increasing spending for programs with money that doesn't exist, as well as throwing away billions in foreign aid. Its the Federal reserve that turned what would've been some small downtime- into the fullblown Great depression- something even the current Fed Reserve Chairman Bernanke admits.
You can't avoid a bust after there has been an artificial boom and malinvestment- but if the Federal reserve removes itself from the equation- then such things do not happen.
We have had approx 35 recessions and they are the result of Capitalism that is by nature cyclical.
Most Corporations are funded and traded by the public. The funds are used to produce goods and services. Business is cyclical and increases and decreases due to Congressional policy as we as public demand. The more demand the pressure is put on increase in prices. The more supply usually the reduction in price.
Things that are taxed we will have less on and things that are subsidized we have more of those goods and services.
It is simple until congress sets policy and the lawyers sue everything in sight. The lawyers are in total full power
And the congress is repaying the lawyer for the funds they received to elect the congressmen.
The environmentalist have lobbied to set laws that put USA natural gas and oil reserves out of limits for their own selfish reasons, over population, Spotted OWL, Polar Bears all laws to prevent access of energy that fuel growth.
We can conserve and be energy efficient in a very short time except for the thief going on in Congress. Since 2006 the majority could pass laws to solve these energy problem but they insist that the globe will increase temperature by 1 degree in 100 years. Hell, they can’t tell me what the weather is for the weekend.
The majority attempted to pass a 6.73 trillion dollars “carbon tax” two weeks ago on all energy. The R’s blocked legislation and the Dem’s pulled the legislation. Get smart and start to fight a 20-30 increase in energy plus a .53 cents increase “carbon tax” on gasoline at the federal level.
This is pure imperialism from the EU that is currently on this program with little effect on CO2 and revolt by the tax payer. The communist are within to control your behavior and your life.
Wake up!
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