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strong fundamentals

2008-09-18 13:37:25.472907+00 by Dan Lyke 3 comments

Quick, who said the following:

The fundamental business of the country, that is the production and distribution of commodities, is on a sound and prosperous basis.

No, silly, that was Herbert Hoover[Wiki] on October 25, 1929. John McCain[Wiki] said:

I think still -- the fundamentals of our economy are strong.

From The American Prospect.

[ related topics: Economics ]

comments in ascending chronological order (reverse):

#Comment Re: made: 2008-09-20 17:25:24.608627+00 by: ziffle

Well we are in a Depression - and it will get worse. And it has been caused for the same reasons as the first one. The Fed pumpmg the economy causing a balloon which will always burst. Hunker down - manage for survival not optimizing profit.

#Comment Re: made: 2008-09-22 01:48:54.128318+00 by: radix

McCain was quoting Robert Rubin from a day when the stock market went down 500 points. (Robert Rubin headed up Treasury under Clinton)

#Comment Re: made: 2008-09-22 02:24:02.020155+00 by: Dan Lyke [edit history]

Got a cite for that? Every quote I'm finding for that on the web, including major news organizations, attributes the quote directly to McCain.

[Edit: I expect it to go away 'cause it's an AP article, but this KC Star reprint of an AP article says:

"Our economy, I believe, still, the fundamentals of our economy are strong, but these are very, very difficult times, so I promise you: We will never put America in this position again. We will clean up Wall Street," McCain said.