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McCainonomics

April 27, 2008

McCainonomics

“The issue of economics is something that I’ve really never understood as well as I should. I understand the basics, the fundamentals, the vision, all that kind of stuff,” he said. McCainonomics

Whew! I feel better now. He understands the basics and stuff.

That little mortgage crisis that we’ve got going on here, coupled with the mortgage-backed securities, had me just a wee bit concerned. But, McCain has read Greenspan’s book, so it’s all going to be okay now. Plus, he’s got Phil Gramm as his campaign co-chair economics guru.

Remember Phil?

Here’s a little refresher: He led the fight to repeal banking regulations that had been in place since the Depression. (Contrary to the belief that I’m older than dirt, I was not around during the Depression. However, my mother was, and it wasn’t pretty at all.) Oh, and now he’s on the board of USB, which bought out Paine Weber.

And you remember Enron, right? Our bud, Phil, helped exempt them from government regulation and public disclosure, when he was in the Senate. For those w/ amnesia – many people lost jobs, wages, pensions. Except for the head honchos, who made out like bandits. (By the way, Mrs. Phil Gramm was on Enron’s audit committee. Coincidence, I’m sure.)

Declining home values, a dangerously changing market for mortgage-backed securities = Depression, Part 2.

But, don’t worry guys. McCain has it all under control. The man who helped created the mortgage crisis is McCain’s main economics go to  guy.

Man, I feel much better now, how about you?

Just a side note: For those who think that I’m oblivious to the fact that the investment industry is donating money to both Hillary and Obama, I’m not. Bill rolled over like a happy puppy as he and his administration agreed with the deregulation of the banking industry. I’m wondering what is expected in return for their donations. However, I’m more alarmed about Gramm, because I know what a ruthless, heartless, contemptible human he is.

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