Rachel Maddow vs. John Mccain: Economy fundamentally strong
The financial meltdown on Wall Street is more than a cyclic correction brought on by a mismanaged business cycle. It is emblematic of a problem at the very foundation of the right wing economic philosophy that became conventional wisdom during the Bush years — and would be continued in a mccain presidency. The zealots of unfettered “free markets” cast aside the critical lesson that the world learned during the Great Depression: left to their own devices, unregulated financial markets do not necessarily function to benefit the society as a whole — or, in the end, even many individual market participants. For many years after the Great Depression, most mortgages were provided by banks and savings and loans. Traditionally these institutions would originate their own loans, evaluate the risk, and maintain a relationship with the borrower. It was in the self-interest of the institution to make loans — that’s how it made money. But it was also in the institution’s interest to assure that the borrower could pay the loan back, because it was lending its own money. Over the last thirty years, the mortgage market has fundamentally changed. Now most loans are originated by brokers or other mortgage companies who make their money through “origination fees” and often payments from big, unregulated lenders. Once these loans are made, they are then packaged and sold as securities through the secondary mortgage market. Mortgage originators had every incentive to make all the loans …
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The economy was a lot stronger at 5% unemployment.Last time i checked its 10.2 now??? What about that you ugly lezbo?
But somehow we have money to fight two unwarranted wars!!
If McCain was serious about winning he would have voted against the bailout and he would NOT have picked Sarah Palin.
Wall Street laced the pockets of both candidates and the media sock-puppets that inflated them.
Arrest These FUCKING THEIVES… LIERS. BUSH MCCAIN ARE IN ON IT… So is Jim Cramer and MAdoff
That ISN’T the American worker anymore.
I’m sorry you are completely wrong. America has massive trade deficits, poor education system. It has a service, not production economy.
Go watch some video’s by peter schiff, then get back to me.
Screw you Liberals, I KNOW THE FUNDAMENTALS ARE STRONG.
I JUST MET WITH 10 FAMILIES, ALL UNEMPLOYED, ALL LOST THEIR HOMES AND CARS, ALL LIVING IN TENTS AT THE RAILROAD TRACKS AND THEY CONFIRMED THAT THEY ALSO BELIEVE THE FUNDAMENTALS ARE STRONG.
SEE —— McCANE WAS RIGHT!
How the BUSH fam TOGETHER WITH the BIN LADEN fam MADE TENS OF MILLIONS OF DOLLARS WITH THEIR CARLYLE GROUP ON THE WARS IN IRAQ, AFGANISTAN… AFTER 9 11…
SEARCH THE VIDEO:
FAHRENHEIT 9 11 CARLYLE GROUP
adamwebb1 , We watch both sides. MSNBC is Democratic and Fox is Republican. CNN is… well, nobody watches CNN anymore. Fox is, by far, the most biased. We have to watch both sides, ignore 90% of it because its BS, then we make an educated guess at who would do the best job. Its all we can do.
Jesus Christ! Even if she’s right, how can someone so outrightly biased be taken seriously? How do people in America who anything when the media is so blatently factionalised?
you are just as funny as that old man…..
McCain was right. The economy is strong (maybe not quite as strong as it was but no big deal). As far as McCain admitting that he doesn’t know much about the economy, who cares? We don’t really need a president who is strong on the economy. Vote McCain.
The comment on “the economy is fundamentally strong” may be the sound bite that ultimately sinks McCain. But…the fundamental items McCain outlines are indeed strong. It’s the financial sector that’s in shambles.
If I was a Leftist I’d be advancing all manner of conspiracy theories. Hmmmmm…isn’t it suspicious the economy tanked just ONE MONTH before the election? Where are the 911 Truthers and UFO cranks when you need them? lol
Between the sub-prime mess not regulated and so many good-paying American jobs leaving due to bad trade deals and tax breaks for corporations out-sourcing, the country’s economy is in deep trouble.
McCain isn’t a good leader if he can’t recognize problems staring him in the face, if he listens to Phil Gramm, master of deregulation, on the economy instead of learning about it himself.
Buy American when you can, pay off your credit cards a.s.a.p. if you can and vote for Obama.
End of Reaganomics, fly now pay later, spending on junk is good, average of 9 credit cards per person, no more trickle up!!!
Back to basics…
Living outside your means and the consumeristic mantra of wanting something for nothing shows where America’s head is at. Fighting a war but not paying for it is just one of a thousand glaring examples of the fallacy of that kind of economic policy. Are capital instutions are failing because Americans have less and less capital to offer while China (who funds our wars) and Europe has more and more. Again, shitty policies=living in the shit while a resurgent Russia and China laughs at you.
AND we’ve had a shitty 8 years because of POOR DECISIONS by the republican self-proclaimed NEO-CON who has run it with his party of fellow neo-cons for the bulk of that time. A REAL CONSERVATIVE would own up to his mistakes and accept responsibility for failure instead of blaming policies written decades ago and instuted nearly 10 yrs ago. America’s have been leveraging themselves w/ more & more debt for 3 decades while REAL INCOME goes down. Do the math on that equation and it equals COLLAPSE.
Why don’t you look at who’s controlled the Congress for the majority of the 30 years you sight, Democrats. Screw Rush, I hardly ever listen to the guy. And the fact that you use the phrase “Neo-Con” tells me all I need to know about you. I don’t believe anything anyone tells me, I research it and find out for myself. I suggest you do the same. The fact is, and most people don’t like to be honest about it, is that people pretty well decide their own fate. Poor decisions = shitty life.
Everyone who’s done research beyond what Rush has told them knows that this goes BEYOND Freddie & Fannie and hits deep into a FAILED NEO-CON PHILOSOPHY about trickled down economy. You can’t spend 30 years dismantling unions, lowering wages for the average American, increasing gas prices, & telling them that can make up for those losses and increases in expenses w/ DEBT, be it credit cards or mortgages. And when the middle class got tapped out is when the WEALTHY who prey on them got desperate.
HAHA mccain constantly contradicts himself. I’d blame it on him or his advisors, but it appears to be a product of the evangelical/rhetorical mindset.
Throwing out anything you can to demonize the opponents image and bolster your own can only last for a short while. Eventually all the unfounded assertions and outright lies catch up.
Everyone who’s done any research at all on this knows that Barney Frank and Chris Dodd are up to their eyeballs in this mess. Barney Frank was arguing just a few years ago that the Republicans who were warning about the upcoming disaster were like Chicken Little screaming the “Sky is falling”. EVERYONE is at fault for this, Democrats and Republicans. By the way, Rachel Maddow is an idiot.
In defense to republicans I think they are saying these ridiculous things to avoid any further panic…because they know that fear has a lot of control over the stock market but regardless any one with common sense can see right through it…at least I hope they can.
Obama/Biden 08
The crisis is very complicated because the Gov allowed Freddie and Fanny to bundle subprime loans that the GOV FORCED banks to make (See CRA 1977). CRAP LOANS that YOU and I are going to pay for.
Here is the step by step video (search YouTube) of what happened in the mortgage/credit markets, why all these banks are failing and how we got to where we are . . . H5tZc8oH–o
I actually believe that this is what the very right-of-the-right neocons in the House suggested. When we heard this several times during the day McCain messed up the negotiations (then it just disappeared from the press,) the comment in our household was that some very wealthy people probably saw a good “buy low/sell high” opportunity.
idk if anyone else knows about this. but thomas jefferson, in his day, said a patriot was one who questions their government when they think something is going wrong.
now is someone questions the government they are like a traitor. how has this become completly skewed? so just becuase the republicans want to mess up our country a day at a time, we have to accept it?
Obama Biden 08