John McCain set off a firestorm yesterday when he said, "The fundamentals of our economy are strong," while also noting that these are tough times. McCain, for whom the economy is not comfortable terrain, was simply repeating a formulation he's used before. In August, he told radio host Laura Ingraham, "I still believe the fundamentals of our economy are strong. We've got terribly big challenges now, whether it be housing or employment or so many of the other—health care. It's very, very tough times."
Gee, so this is a "gaffe" how exactly? When are out fundamentals not sound according to Gross?
Are the fundamentals sound? Was McCain right, or hopelessly rosy-eyed? It depends on which fundamentals you want to emphasize. There are times when all the fundamentals are unsound, as was the case in 1931. And there are times when all the fundamentals appear to be sound, as was the case in the mid- to late 1990s. [emphasis of the really, really moronic parts mine]
Oh, how stupid does this moron believe we all are? The economy is only sound when we are going through economic boom times? This displays such a shocking ignorance of economics, history, and plain old common sense as to be unbelievable, even for this media environment. To claim that in last 80 years the economy has only been sound for 3-4 years in the 1990's shows a shocking level of intellectual dishonesty.
So, when you see something written by Daniel Gross feel free to ignore it. He has proven beyond doubt that his intentions are not honorable.
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