Gaffe Alert!

Interesting words from one who might turn up as McCain's Treasury Secretary...
4 years of "stop whining and bend over" does not sound like a future I want.

Well, if this -> two straight quarters of negative growth is considered a recession, then just maybe we need to redefine recession. The current equation does not even include the cost of food or gas, so how is the hell can it be an accurate measure of what a recession is??

Correct lonk for Gramm's thinking on poor people (history)

http://www.famoustexans.com/philgramm.htm

This isn't the first time Gramm has shown his true colors. Here's what he thinks of poor people.

http://www.famoustexans.com/philgramm.htm

This isn't the first time Gramm showed his true colors. Here's what he thinks of poor people:

http://www.huffingtonpost.com/david-donnelly/400-million-for-mccain-iw_b_112169.html

Now, I wish the media would let Mr Gramm explain himself and why he made the statement. I personally, believe that we have become a country of whiners and tend to agree with Mr. Gramm. The worst thing that you can do in politics is to tell the truth. Will it hurt John McCain? It will be back page news when the election nears, but Mr. Gramm sorry to say will pay the price for his honesty. I am optimistic about America and the economic crisis will pass. The media is just playing the part of chicken little.... The Sky is falling!

Yeah nice pick for your economic adivisor McCain, just tell everyone to stop whinning, brilliant plan.

What Gramm said has been said before. It's been so long ago that we simply forgot. "Let them eat cake" (and then they'll quit whining?).

Phil Gramm is the "mother of all supply siders". He and his ilk are tMcCains biggest dilemna.
As long as they hold sway, McCain will be forced to defend the fiscally irresponsible Bush tax cuts
He will have to carry this albatross to his doom in November.
Pity, he once was on the right side of this issue.

Once we give all of our money to those who sell petroleum, we can forget them, as they will forget us and sell it to some place where there is money left to buy it. Money has ceased to exist in this country a long time back, anyway. I first caught onto this when I tried to rent a car back in 1974 with cash dollars. The rental company said that they only rented to those with credit cards. Money was no good any more. I notice where this trend recently peaked in our mortgage industry. I managed to survive without a credit card for thirty more years and finally got one because insurance companies and utility companies threatened to hike their rates to those with bad credit. Not having used credit for some forty years before that, I found that without any credit rating at all, I was a bad credit risk. The disadvantage, mind you, was solvency to the extent that credit was not necessary. That's when I realized that we no longer have money in this country. It's an economic condition that I am having difficulty naming. It's not just credit, but some condition of mind that exists with purchasing power but without money. Ask a person who was induced to take out a home mortgage and recently discovered that there was no way to pay for it. It's madness, and it has thrived under the present eight year old administration, finally apparently self-destructing before the eyes of the whole world. I will name my horse Old Ned, and the mules Jimmy and Jenny. Money's no good any more. I'll just bury it in the back yard in a mayonnaise jar and barter the rest of the way. Trade you some potatoes for a Thanksgiving Turkey?

Fast Eddie, you're right. And I look forward to the hardships ahead. I will buy one of those surplus mustang horses from out west and get the equipment to ride him. That will cause me to think carefully about how far to ride and how to get everything I need in one trip. Next, I'll get me a donkey and then a mare from the mustang herd and allow them to breed. The mare will then produce a hybrid animal called a mule. When she produces two of them, by then I will have finished the wagon that they will pull. I will build the wagon so that it can serve both to haul my spouse and me to wherever we need to go to buy the month's supplies and be sufficiently strong to carry a medium heavy load, but light enough to cover with canvas so that we can take trips to wherever we wish to go. We will carry equipment enough to sleep overnight on the way and cook small meals to tide us over until we get back. We will slow down to the pace of our draft animals and never be in a hurry to get anywhere. Hypertension and a number of illnesses that are generated and aggravated by the hectic pace we've been living will fade into the past. We will go to the poultry house and get a box of chicks and get them up big enough to survive in the yard and then will have eggs and as they reproduce, we can eat the surplus fryers for Sunday dinner, and when the hens get too old to lay, make good chicken soup stock by boiling them for a few hours. Surplus roosters, as well. A vegetable garden will be maintained year round. Winter for leaf and root vegetables and Spring and Summer for the rest, canning and drying surplus to carry us through the fallow periods.
There's more, but you get the idea. Gramm is full of crap about us whining. We've been overdue to return to a better way of life for a long time and this is our chance. All of this grandeur and excess was just a waste of good life and we didn't know what we were missing.

Perhaps Dr. Phil would like to talk to my father-in-law. He's 62 yrs. old and still working. His after tax take home pay is $1560 per month. He's spending $600 per month on gas to get to and from work. The rest of his monthly income goes to paying down the home mortgage, insurance & food. His wife is also 62 yrs old and still working. Needless to say, retirement is only a dream for the both of them. When is America going to wake up? The Republican tax cut policy does not benefits the 98% of the middle class. Still they scare you into voting for them because of terrorism, gay marriages and taxes. The very definition of insanity is to do the same thing over and over again while expecting for a different result. When G.Bush took office in 2001, gas price is at 1.50 per gallon. Now, it's $4.25/gallon for regular unleaded. Had enough? Still voting for Mccain this election? Maybe we should all find religion b'ce with another 4 years of Bush-McCain administration, praying will be our only way out of this mess.

No you're not in recession, you're in stagflation. That's a stagnant economy with ever-rising inflation. Oil is rising primarily for two reasons - one is the speculators, which were facilitated by Gramm's Enron loophole. The other is the vast increase in demand from China and India.

You can close the Enron loophole, but oil prices will still remain high because of the demand from two huge economies growing like wildfire. The rapidly expanding middle classes in Chain and India will also keep the prices of grains, rice and many other staples on an upward curve.

America meanwhile is losing jobs at an unprecedented rate. It's been running a deficit for many years now, underwritten by the petrodollar. The petrodollar basically acts as the world's largest credit facility and has enabled the US to live far beyond its means for decades. This year, Iran dumped the dollar as a trading currency for oil and it's likely Russia and others will follow suit next year. That particular trillion dollar credit facility is closing.

Bottom line? With no growth, no money for infrastructure and rising prices, American standards of living are on the way down. Add onto this the current administration is selling the family silver to China in order to finance wars it can't afford. The time is coming shortly when the Chinese loans are due to be repaid, the petrodollar is largely dismantled and America will have to live within its means.

People talk as if Gramm is 'daring' to speak the truth. He wasn???t. He took the coward???s way out by parroting right-wing cliches about whiners and wasters. He daren???t tell the real truth, because that would involve looking the American people straight in the eye and telling them that they have to halve the military, raise taxes and balance the books. Doesn???t play half as well to his bellicose base, now does it?

If he were a real conservative - a fiscal conservative - he'd tell the real truth. That America is spending money it doesn't have. That it can't afford to be the world's policeman. That 59 cents in every tax dollar goes towards military and defense (the UK by comparison spends 14% of tax income on defense) and money needs to be spent on things like education or in the long-term America???s going to fall behind and become a second world economy. But that would require real cajones, of the type Gramm simply doesn't possess.

Oh hang on. Ron Paul told all the Republican voters this already and they didn???t like it. Instead they voted for a man who can???t even pronounce his own economic plan, the Dyslexicington Project. My bad.

No you're not in recession, you're in stagflation. That's a stagnant economy with ever-rising inflation. Oil is rising primarily for two reasons - one is the speculators, which were facilitated by Gramm's Enron loophole. The other is the vast increase in demand from China and India.

You can close the Enron loophole, but oil prices will still remain high because of the demand from two huge economies growing like wildfire. The rapidly expanding middle classes in Chain and India will also keep the prices of grains, rice and many other staples on an upward curve.

America meanwhile is losing jobs at an unprecedented rate. It's been running a deficit for many years now, underwritten by the petrodollar. The petrodollar basically acts as the world's largest credit facility and has enabled the US to live far beyond its means for decades. This year, Iran dumped the dollar as a trading currency for oil and it's likely Russia and others will follow suit next year. That particular trillion dollar credit facility is closing.

Bottom line? With no growth, no money for infrastructure and rising prices, American standards of living are on the way down. Add onto this the current administration is selling the family silver to China in order to finance wars it can't afford. The time is coming shortly when the Chinese loans are due to be repaid, the petrodollar is largely dismantled and America will have to live within its means.

People talk as if Gramm is 'daring' to speak the truth. He wasn???t. He took the coward???s way out by parroting right-wing cliches about whiners and wasters. He daren???t tell the real truth, because that would involve looking the American people straight in the eye and telling them that they have to halve the military, raise taxes and balance the books. Doesn???t play half as well to his bellicose base, now does it?

If he were a real conservative - a fiscal conservative - he'd tell the real truth. That America is spending money it doesn't have. That it can't afford to be the world's policeman. That 59 cents in every tax dollar goes towards military and defense (the UK by comparison spends 14% of tax income on defense) and money needs to be spent on things like education or in the long-term America???s going to fall behind and become a second world economy. But that would require real cajones, of the type Gramm simply doesn't possess.

Oh hang on. Ron Paul told all the Republican voters this already and they didn???t like it. Instead they voted for a man who can???t even pronounce his own economic plan, the Dyslexicington Project. My bad.

To some, it's just another wall to write on.