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Gramm says the economy is in relatively decent shape — and much more.
"You've heard of mental depression; this is a mental recession," he said.
Moreoever, Gramm said: "We have sort of become a nation of whiners. You just hear this constant whining, complaining about a loss of competitiveness, America in decline."
At this point, both choices we have totally suck. It just keeps getting worse from both of them. They are both so far removed from what Americans need and want that its becoming comical. They are both elitist snobs who have no clue what this country really needs. Scary times.
Wow how cold and callous and this is from his buddy who is the smartest man he knows about economics. Thus we now know what the McCain economic will really be about.
Wow how cold and callous and this is from his buddy who is the smartest man he knows about economics. Thus we now know what the McCain economic will really be about.
Hmm...
"McCain's campaign is already distancing itself from some of Gramm's other work for UBS: his involvement in attempts to sell financial products known as "death bonds," which BusinessWeek described last summer as one of "the most macabre investment scheme[s] ever devised by Wall Street." Not long after joining UBS, the Houston Chronicle reported, Gramm helped lobby Texas officials, including Gov. Rick Perry, to sign on to a UBS proposal in which revenue would be generated for a state teachers' retirement fund by selling bonds, whose proceeds would in turn be used to buy annuities and life-insurance policies on retired teachers. UBS would advance money to the retirement fund, then repay itself, compensate bondholders and pocket profits when insurance companies paid off on retirees who died. According to a banking-industry source, who asked for anonymity when discussing a sensitive matter, Gramm was involved in efforts to pitch similar UBS products to other financial institutions."
"McCain's campaign is already distancing itself from some of Gramm's other work for UBS: his involvement in attempts to sell financial products known as "death bonds," which BusinessWeek described last summer as one of "the most macabre investment scheme[s] ever devised by Wall Street." Not long after joining UBS, the Houston Chronicle reported, Gramm helped lobby Texas officials, including Gov. Rick Perry, to sign on to a UBS proposal in which revenue would be generated for a state teachers' retirement fund by selling bonds, whose proceeds would in turn be used to buy annuities and life-insurance policies on retired teachers. UBS would advance money to the retirement fund, then repay itself, compensate bondholders and pocket profits when insurance companies paid off on retirees who died. According to a banking-industry source, who asked for anonymity when discussing a sensitive matter, Gramm was involved in efforts to pitch similar UBS products to other financial institutions."
Americans wouldn't "whine" if they were born in rich families like Cindy and McBush.
Ahhhhh. Class envy. How is that working out for you?
We have become a nation that includes A LOT of whiners. The majority are not, but lots of groups, including the far left, racial "victims", women that want to be paid the same as a man without putting in the same time and effort, the new "disabled" (those with issues that think everyone else must make accomodations for their shortcommings), etc. are certainly whiners.
The economy is not horrid. Real estate will rebound. Gas prices will either drop or drilling in Anwar/new technology will ease the situation. Those who were not realistic with mortgages or went crazy with credit will hopefully learn and start budgeting.
Nobody is ever going to care more about you than you. This is reality. Another reality is that the majority of Americans are not looking for Big Govt to save them. Most take care of themselves and their families and want it that way.
And yet another reality is that more and more American's are caring less and less about the whining victims. The trough is about dry on that one. No, we don't care if you're great, great, great grandaddy was a slave...you will be judged the sames as the great, great, great grandson of a Chinese immigrant that toiled endlessly on the railroads or the great, great, great grandaughter of an Irish immigrant that was treated like dirt when they landed in NYC 150 years ago.
Out of work, still having lots of children without benefit of marriage or a decent job? Your life will be pretty uncomfortable and you will be a social pariah.
Bratty kids with suspect diagnosis that hold up air-planes? Off the plane. NOW.
The majority of responsible adults in this country will be just fine, thanks. The whining victims are starting to annoy and are receiving less and less attention, $$$ or sympathy.
Like little spoiled children, the whining VICTIMS WHO MUST BE HEARD will no doubt amp up. But like good parents we as a country are learning to ignore them as this is the only way the kiddies learn self reliance.
Of course, we will take a huge step backwards if Mr. Obama is elected. He of the nanny state, redistribution of wealth and punisher of the hard working. But, it's looking like that is unlikely lately. The Wizard's curtain is being pulled back every day and what is behind it is not too special.
Karen Finney, the Democratic National Committee’s communications director, said: “What John McCain, George Bush, Phil Gramm just don't understand is that the American people aren't whining about the state of the economy, they are suffering under the weight of it — the weight of eight years of Bush-enomics that John McCain and Phil Gramm have vowed to continue
McCain released a statement saying what Phil said wasn't representative of what he believes.
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Longer version of the story
