Alex Jones’ Prison Planet.com » McCain Described The Economy’s Fundamentals As ‘Strong’ At Least 18 Times In 2008

McCain Described The Economy’s Fundamentals As ‘Strong’ At Least 18 Times In 2008

Think Progress
Wednesday, Sept 17, 2008

Yesterday, after two of Wall Street’s major banking institutions had just collapsed, Sen. John McCain (R-AZ) declared that he “still” believes “the fundamentals of our economy are strong.” As MSNBC’s First Read notes today, yesterday was only the most recent occasion that McCain has called the economy’s fundamentals “strong” as the economy worsened throughout 2008:

And, perception-wise, McCain didn’t help himself when he said the “fundamentals of our economy are strong” — words that Obama’s campaign yesterday pounced on and McCain later backtracked from. In fact, the Obama camp is up with a brand-new TV ad today (airing in “key states”) that whacks McCain for saying that. However, it’s worth pointing out that those words from McCain weren’t new. By our count, he has used that phrase at least 16 times between Jan. 1 and June 5th of this year.

In August, McCain told right-wing radio host Laura Ingraham, “I still believe the fundamentals of our economy are strong.” Listen here:

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In his interview with Ingraham, McCain defined what he meant by “fundamentals,” saying “we’re still the most innovative, the most productive, the greatest exporter, the greatest importer.” On the defensive yesterday, he defined the economy’s “fundamentals” as “workers and small businesses.”

In fact, economists have a very different definition of what the actual fundamentals of the economy are. ABC News’s Jake Tapper spoke to a few, and they say the fundamentals are not strong like McCain claims:

“One definition,” responded one, providing this definition: “A very broad term which includes such economic measures as interest rates, the government’s budget deficit, the country’s balance of trade account (relating to exports and imports), the level of domestic business confidence, the inflation rate, the state of (and confidence in) the banking and wider financial sector and consumer confidence.”

“By this definition, things aren’t so good,” the expert said.

Another said, “To which we might add health of job market, value of home prices and stock prices (which have the greatest impact on household wealth) and ability of wages to keep up with prices — these fundamentals are also not good.”

Economic experts also tell The American Prospect’s Tim Fernholz that by at least seven different key measures “the fundamentals are not in fact strong.”

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12 Responses to “McCain Described The Economy’s Fundamentals As ‘Strong’ At Least 18 Times In 2008”

chris Says:
September 17th, 2008 at 4:53 am

What does anyone expect? McCain and Phil Graham are teh architects of dismantling the 1929 regulations for banks brokerages and insurance companies

laurie Says:
September 17th, 2008 at 6:05 am

Here is my point…….
Since the taxpayer is paying for “all” of the Fed’s purchaces and Takeovers via the Inflation Tax,
should the Taxpayer now become a Shareholder in the Private company known as the federal reserve??…..after all …..we purchased “them” many times over…..

Hologram5 Says:
September 17th, 2008 at 6:07 am

I don’t know if it is meds that he is taking, or meds that he needs to be taking but this guy (McSame) needs to get real and start engaging his brain before his mouth.

LR Says:
September 17th, 2008 at 6:22 am

McCain continually contradicts himself in long winded confusing explanations, Osamabama skillfully utilizes diversion with a sprinkling of Ebonics – They’re both bought and paid for. What’s really upsetting is that there’s not even an attempt or effort to hide their evil from us anymore. I guess that’s because the sheeple still buy into their treachery and obediently follow.
By the way everyone, make sure you and your families inoculations are up to date. You’ll all be much better off for it!

TeemuV Says:
September 17th, 2008 at 6:56 am

Finnish minister of finance and a bildeberger Jyrki Katainen has many many times before and after the summer described the economy as good and “getting better”. He has also many times said “everything will be better soon”. Does that sound familiar? Does that sound anything like from a bildeberger?

It is clear, that no matter how educated the country is and how rich it is the key is in our leaders. Give them the power and they’ll use it. It’s pure socialism with no limits.

In the 1990’s Finnish banks collapsed due to loans and the government bailed them out (partly atleast). Now it’s happening again and the very same way. There’s too much fiat money and the fix is to print more and more, just like Edward G. Griffin has said.

I’d say we have to look for alternatives for fiat money and do it now.

Reaper Says:
September 17th, 2008 at 7:20 am

Either he has his head up his ass, or he is full of bullshit……Take your pick
Holy shit i just described 99% of politicians!

blindboy Says:
September 17th, 2008 at 7:57 am

All I remember about McCain is:

KEATING FIVE.

From the looks of things, he doesn’t even remember that. Somewhere down the road, politicians can use “I have Alzheimers” as an excuse to lie. Of course, in John’s case it’s the closet thing to the truth that will come out of his traitorous mouth.

http://blindboybroadcasting.podomatic.com

edisonoside Says:
September 17th, 2008 at 9:31 am

I’m voting for a third party candidate who is not controlled by the war hungry military industrial complex..McCain/Palin are INSANE! Obama/Biden seems a better choice but not by much. We need BIG CHANGE and only a third party candidate can give us that. We need to be going up NOT down.

Tom Says:
September 17th, 2008 at 11:15 am

I expect more from the Wall Street Journal. They left out the rest of what John said it is fundamentally strong but has some real problems…. Can’t even trust the Journal to tell the truth. He might be just the man to clean up this media enabled cesspool…

buckwheats Says:
September 17th, 2008 at 3:36 pm

I’m thinking more and more that the fix is in and the coming elections are as scripted as a pro wrestling match. Maybe it’s just me, but it seems like McCain is not playing to win. Is he intentionally discrediting himself? Reminds me of Bush Sr’s second term campaign.

Howard Says:
September 17th, 2008 at 3:44 pm

Thanks Johnny, for that financial report from the planet Mars. But what about here on Earth?

Nancy Says:
September 17th, 2008 at 9:02 pm

That banner McCain is standing behind says..

“Country First”

Which country?

lol…durrrhhh – He took money from Rothschilds, right?

Good luck getting McCain to stand behind any banner that reads..

“America First”