Five charts vs Phil Gramm's mental recession imagined by a nation of whiners

[FRED]

Five charts vs Phil Gramm's "mental recession" imagined by a "nation of whiners"

Phil Gramm calls the US recession a "mental recession" and America a "nation of whiners."

What does a whiners "mental recession" look like?

1. Home prices

Home prices are crashing

2. Unemployment

Unemployment is up in nearly every state

3. Household net worth

Household net worth is falling fast

4. Real income

Real wages are falling

5. Goods purchases

Consumers are buying less stuff

Looks like a real recession to us. In fact, a really bad one.

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[don]

Re: Five charts vs Phil Gramm's mental recession imagined by a nation of whiners

Keep in mind that John McCain has publicly stated that he is not strong on economic issues.

That his chief advisor, whom he has called a financial genius, is Phil Gramm.

That John McCain is NOT SUPPOSED TO WIN.

Do you think it's in the bag yet?

[Chief Tomahawk]

Re: Five charts vs Phil Gramm's mental recession imagined by a nation of whiners

And to think Larry Kudlow was saying he agrees with Phil Gram. Then tonight Larry said he hopes that what he is now hearing, Phil Gram is being pushed out by McCain, isn't true. Well Gram has provided a soundbite for the Obama campaign to run over and over again which will resonate if Itulip's recession call is correct.

But what I'm surprised by is the short memory folks have. Wasn't it Gram's wife who became the key industry lobbyist for the electricity deregulation which spawned the faux CA energy crisis in 2000 (remember the rolling blackouts)? Grey Davis charged off and signed CA into costly contracts only to have Enron blow up and reveal the whole sham shortly thereafter. Well, CA recalled Davis, but to my knowledge never recovered any of the money they had lifted from them. Mrs. Gram's lobbying efforts robbed Californians. I would think smart guy Phil would be in hiding. Instead he is back and in an important position. Well, maybe not for much longer....

[jtabeb]

Re: Five charts vs Phil Gramm's mental recession imagined by a nation of whiners

And to think Larry Kudlow was saying he agrees with Phil Gram. Then tonight Larry said he hopes that what he is now hearing, Phil Gram is being pushed out by McCain, isn't true. Well Gram has provided a soundbite for the Obama campaign to run over and over again which will resonate if Itulip's recession call is correct.

But what I'm surprised by is the short memory folks have. Wasn't it Gram's wife who became the key industry lobbyist for the electricity deregulation which spawned the faux CA energy crisis in 2000 (remember the rolling blackouts)? Grey Davis charged off and signed CA into costly contracts only to have Enron blow up and reveal the whole sham shortly thereafter. Well, CA recalled Davis, but to my knowledge never recovered any of the money they had lifted from them. Mrs. Gram's lobbying efforts robbed Californians. I would think smart guy Phil would be in hiding. Instead he is back and in an important position. Well, maybe not for much longer....

One can only pray that God exists and that the Gram Clan gets cooked on the "Extra-Crispy" setting.

[metalman]

Re: Five charts vs Phil Gramm's mental recession imagined by a nation of whiners

Keep in mind that John McCain has publicly stated that he is not strong on economic issues.

That his chief advisor, whom he has called a financial genius, is Phil Gramm.

That John McCain is NOT SUPPOSED TO WIN.

Do you think it's in the bag yet?

whomever wins this election loses.

[kingcopper]

Re: Five charts vs Phil Gramm's mental recession imagined by a nation of whiners

whomever wins this election loses.

;) metalman's got these two victors clocked; can't win this game!

[jtabeb]

Re: Five charts vs Phil Gramm's mental recession imagined by a nation of whiners

;) metalman's got these two victors clocked; can't win this game!

"the winning move is not to play" Joshua in War Games.

[lakedaemonian]

Re: Five charts vs Phil Gramm's mental recession imagined by a nation of whiners

whomever wins this election loses.

I completely agree.