Phil Gramm: What recession?

http://www.comcast.net/articles/news-politics/20080710/Candidates.Gramm/


I know a lot of people would disagree.

 

I already posted a thread on this below, but it's a disgusting comment and could easily be a big turning point in this election. When Republicans are viewed as not being able to feel the pain of average Americans during bad economic times, they always lose.

 

Not going to pile on here -- no need! -- but editorial cartoonists will have a field day with Graham sporting a lowcut bodice and a Marie Anton pile of hair and big skirt.

Cake this.

 

He's at least half right -- we have become a nation of whiners.

But we are also clearly in a recession, which is the business cycle's way of righting its own ship. We've been through recessions, depressions as well as boom's and the bottom line is this -- that's the way our economy works, it is cyclical.

That is why people should start listening when their parents say store some away for a rainy day. Well, it is raining folks.......

 

Whining gets a bad rap. When haven't we been a nation of whiners? Was there no whining in the 1890s, or 1920s, or 1950s (when men were men)? Is there a larger percentage of whiners now? Or do we just have more avenues to whine (BLOGS!)?

I mean, the nation was founded on people whining about their taxes. And aren't those who complain about a nation of whiners actually whining themselves?

 

We are a nation of whiners, and this thread proves it.

Gramm is right. We are NOT in a recession. Yes, things are not going great, but we are still at a 1% growth number. GROWTH, people, not shrinkage.

Could the economy be doing better? Of course. Are we in a recession? Nope. Unless you guys want to change definitions again.

 

What's growing, Tony?

Not people's paychecks.

Not their retirement funds.

Not disposable incomes.

Not home sales.

 

Tony-- 1 percent growth isn't enough to absorb new people coming into the job market. And how much of what "growth" there is will be used to pay for this Iraq war which was supposed to pay for itself.

The stock markets and the value of the dollar compared to the Euro tell you all you need to know.

 

If you can tell me that those are the factors in whether we're in a recession or not, great. Obviously, you can't. The economy is growing at a 1% rate, whether you like it or not.

Apparently in "spinning" world nobody is making money off higher oil and gas prices. No one has money invested in oil companies. No one has money invested in commodities.

 

Say what you want, but that still doesn't change the definition of recession.

 

Define this 1% growth, Tony. What specificially is that? The only growth industries I see are government and the war. Both don't produce shit.

What does the 1% growth mean?

 

Americans, or at least some of them, are indeed whiners:

http://www.washingtonpost.com/wp-dyn/content/article/2008/07/09/AR2008070902281.html