I’m sure most SDMB political junkies are well aware of the flap over John McCain’s declaration that “the fundamentals of the ecomomy are strong,” while the Market was taking a giant dump on monday.
I’m sure everyone is also well aware that after getting pounced on for it by the Obama campaign, McCain tried to say that the “fundamentals” he was referring to were the American workers (and how dare Obama insult the American workers?).
Ok, kind of lame, kind of weak, kind of a platitudinous, but taking him at his word that the “strength of the American workers” will somehow stave off a depression and keep the economy afloat, I have a question for him.
What was wrong with the American workers in 1929? Were they not as “innovative” or “entrepeneurial?” Were they lazy? Were they a bunch of pussies?
If the American workers were just as great in 1929 as they are now, then of what comfort is to say they’re strong now?
Also, couldn’t this kind of empty head patting backfire on him? People are staring down the abyss, they’re looking for good news and he tels them, “the fundamentals of the economy are strong.” So that makes a lot of people think, “ok, he’s plugged in. There must be some kind of sound, mathematical formula behind this which indicates that we’re not going to end up selling apples on the street.”
Then he says, “well what I meant was, you guys…you ‘workers’…you guys are tough. You’re all hard workers. You’ll work your way out of it.”
What? That’s it? That’s his reassurance?
I think his “clarification” could end up hurting him even more than the initial statement. At least make something up about “indicators” this and “fluxuations” that. Don’t just say, “you’re a hard worker, you’ll be fine.” What a tin ear.