Good news from McCain economic advisor Donald Luskin: Things today just aren't that bad. I feel better already. Now if only I had a job. By the way, if any of my vast readership know of anything in the San Jose, CA area, please get in touch.
Whatever the political outcome this year, hopefully this will prove to be yet another instance of that iron law of economics and markets: The sentiment of the majority is always wrong at key turning points. And the majority is plenty pessimistic right now. That suggests that we're on the brink not of recession, but of accelerating prosperity.
posted by gary at 10:25 AM
2 Comments:
Maybe Luskin can't remember how many houses he owns either, like McCain.
Funny how when you posted this at 10:25AM, when the DJIA was only down something like 250 points. A few hours later, the DJIA closed down over 500 points.
"We are in the middle of a deep, dark recession, and it won't end soon. Here it is, and it is pretty nasty," said Barry Ritholtz, who writes the popular financial blog The Big Picture and is CEO of research firm FusionIQ.
And the fallout was far from over. American Insurance Group, the world's largest insurer, was fighting for its very survival: New York Gov. David Paterson moved to allow the company to tap one of its subsidiaries for an emergency loan to stay above water.
Luskin's outlook is classic for a member of Bush's base: the "haves" are doing just fine and need not concern themselves with the "have-nots".
And to think the economy will only get worse even before the election. And worse, to think that our fellow Americans will still vote for McBush because they can't handle a halfwhite-halfblack as President.
http://www.youtube.com/watch?v=_KBPzwL61f4&feature=user
He never said the economy was good, he meant American workers are great !
really worth watching (on an empty stomach)...
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