Dick Cheney is a macroeconomic poopy head

I just watched a little of the coverage of the Republican National Convention on NBC.

Dick Cheney gave a speech after he accepted his Party’s nomination as Vice President. Among other things, he talked about how well the U.S. economy has recovered under George W. Bush’s leadership.

As an example of how well the economy was doing, Cheney said “Mortgage rates are low.” :mad:

Cheney, you are a great big flaming poopy head! Low interest rates are a sign of a bad economy!! The Federal Reserve lowers interest rates whenever the economy is weak and/or stagnant, in an attempt to stimulate economic growth. The only reason mortgage interest rates are as low as they are is because the Fed thinks the economy is still in the toilet! What have you been smoking, Dick? Your own feces?

The worst part about that God-awful speech, IMHO, was the way Cheney implied (in a not-so-subtle manner) that if Kerry were to be elected, America would instantly be open to all sorts of terrorist attacks. (As if the military, police, homeland security, etc. would suddenly fall to pieces…and unfortunately, a lot of Bush supporters actually believe this shit.)

They should rename their campaign Fear Factor. :rolleyes:

Sorry for the slight hijack!

Worse … if Kerry was elected, he might realize that the pre-9/11 National Security Agency had all the power it needed to prevent terrorism, and that we don’t really need an extra “office of Homeland Security.”

And then he might do unpatriotic anti-American things like not wiretapping everyone’s phone and not sending American citizens to Camp X-Ray because they held unpopular beliefs or were Muslims. Pretty soon, the whole USA PATRIOT act will get repealed, and then we’ll be right back to square one with that pesky Bill of Rights getting in the way of everything.

You think he doesn’t know that? Of course he knows that. He’s counting on most of us not knowing that, and just assuming it’s a good thing because he says it’s a good thing.

Ya, just look at Jimmy Carter; Mortgage rates over doubled during his administration; A sign of the boom-times of the late Seventies!

Have you been asleep for the last four years? Are you seriously trying to argue that the Fed didn’t lower interest rates as an effort to stimulate a stagnant economy?

Have you been asleep for the last four months? Rates are going to be heading back up a bit; Already did back in June or July. Surely you aren’t claiming that the economy is still ‘stagnant’?

But mainly, I was throwing a barb at Chief Economist tracer’s stupid quip:

Interests can be low or high in a good or bad economy. We now happen to have low interest rates and a good economy. Back in late seventies, we happened to have a bad economy and high interest rates. In the mid-late eighties, we had high interest rates and a good economy. In the early nineties we had low interest rates and a bad economy.

Of all the things in the Veeps speech tracer could have picked for his rant, he picks the dumbest and least supportable of the whole speech. Amazing.

Brutus, after a semicolon there is no need to capitalize the first letter; okay?

Thanks; But I must remind you that much like your average opinion of real Nazis, nobody likes grammar Nazis.

Great thread. Where else could you learn that 70s stagflation was an economic boon, and at the same time get capitalization advice from a member named leander?

Shit, I shouldn’t have bought a house 2 years ago?!? :rolleyes:

Fucking Cheney! Who do I call to get my equity back from that lying sumbitch? Er, wait, I own the house I didn’t 3 years ago? Um, well. Fuck Cheney for making me pay ANY interest on the mortgage! Yeah! REVOLT!

What? Interest is a payment to the bank for taking a risk on the future economy? Well fuck Cheney anyway! Halliburton has enough money from the stolen oil in Iraq to cover us all! We all know that money is going to Washington.

Don’t worry, folks. The evil facist, mother-hating, puppy-kicking, old-people-killing, donkey-screwing, haters-of-all-children Party (how would I trademark that?) will take care of you for votes.

After dining from a menu of Clubbed-Seal, Dolphin Caviar and Poor-People Liver Pate, I’m sure there will be enough money left over to pay for everyone’s housing.

Just hope noone gets sick. I mean, we can only do so much. Now I have to check in on how many women we’ve enslaved today.

I’d like to interupt this thread to remind you all that Cheney eats babies.

Cite. Kind of leaves no doubt, does it?

Thank you.

The OP probably just got through the first semester of economics 101 in summer school and was just eager to put his knowledge to practical use, is all (not that this was very practical). Cut the guy some slack!

Shush you! You were doing good until that part. I thought the women enslaving thing was an inside-top-secret-members-only benefit. You’ve outed us.

[QUOTE=Uncommon Sense]
The OP probably just got through the first semester of economics 101 in summer school and was just eager to put his knowledge to practical use./QUOTE]
A knowledge that Cheney seems to lack. Maybe he should take some time off from the baby-eating and have a quick refresher course?

Damnit! I knew I’d never get into the secret club. :smack: What can I do to make it up?

Oh, I know, there’s a local food coupboard here I could loot! Yeah. See, I could break in and steal all the baby formula, causing children all over the city to starve to death, and they would charge Bush with killing kids! (Though there’s a certain poster that may come in to save the day. Then again, probably not) :wink: I think you know whom.

Oops, gave that away, too. Tell you what. Trust me one more time and I’ll answer the secret 9132 Plutonium-charged, Halliburton-encrypted ultra-poor-hating phone to get my newest directive.

I am at your mercy, sir.
P.S. Please tell Karl not to kill me yet. We all know he runs the Earth and I hate to cross him.

[QUOTE=aegypt]

Or you could check out the experience he has in serving the US with it still standing? Oh, wait. That doesn’t help your obvious Bush hating. Reset. Try again.

You’ve done enough already :rolleyes:

Hah, just kidding. Pit Elucidator for something and that aught to make up for it.

inflation != high interest rates

Ignorance is bliss, eh, Brutus?
That legendary time of stagflation was nothing of the sort, except that it was successfully played that way for political purposes, and everyone’s believed it since. Actual jobs numbers (from economagic.com’s Total Nonfarm Payrolls page) shows the following:

employment in Jan 1977, when Carter took office: 80692000
employment in Jan 1981, when Carter left office: 91031000
Difference: +10339000
Rate of change per year: 2,584,750

Bush would sell Laura into slavery to get those kinds of numbers. So yes, rates are low because, guess what, the economy isn’t throwing up those kinds of numbers. And they were high, and inflation was high, under Carter because the economy was chugging along nicely back then. Moi, a mere liberal arts grad at the time, found a well-paying job almost immediately upon graduation at that time, and within two years had doubled my pay without breaking a sweat. Good times, those. Far better than now.