18 September 2008

Economy Fundamentally Strong

"Our economy is fundamentally strong..." That was McCain two days ago. Now as Wall Street tailspins I'm listening to financial experts on the radio saying that we haven't had such failure of financial institutions since the Great Depression.

Who does this sound like?:
....backed immigration restriction and a cut in the capital-gains tax. He quarreled with the unemployment figures from the Bureau of Labor Statistics. None of it worked, and yet (he) insisted on the soundness of fundamentals, blaming the continuing crisis on whiners: “The income of a large part of our people is not reduced by the depression,” he said, “but is affected by unnecessary fears and pessimism.” He urged his fellow countrymen to count on “the magnificent working of the Federal Reserve system and the inherently sound condition of the banks.”

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