Phil Gramm is Right. We are a Nation of Crybabies
Recently the McCain campaign has gotten into some flack regarding the brutally honest statements by his economic adviser, Phil Gramm, which is that America is in a mental recession.
Phil Gramm is spot on. We are indeed in a fake recession. There hasn’t been a single negative quarter of GDP growth since 2001 and many sectors such as energy and materials continue to thrive. Stocks such as POT PCX CLF AAPL GOOG AAPL MA V RIMM, which I have recommended on my blog for awhile, have held up very well. Yes we are now officially in a bear market, but no recession.
If were were really in a recession why did Hancock and Wallie gross tens of millions of dollars over the weekend? If the consumer were really tapped out as the boo hoo hoo pro Obama liberals claim those movies wouldn’t have done nearly as well because Americans would have stayed at home. Why is Apple projected to sell 40 MILLION iphones? Why is Facebook, Google and Myspace seeing record traffic and revenues? So much for a recession.
Americans have tons of purchasing power, credit, and huge liquidity. There is no credit crunch or crisis, except a leftist media generated one. If Americans had no access to credit why would Visa and Mastercard stock be near record highs?
The truth of the matter is, Phil Gramm, a senior economist knows there is no recession, which confers what I have been saying for the past year. The only recession is an imaginary, pro Obama generated one. Period. Boo hoo hoo gas prices keep going up. Boo hoo hoo oil is a $146. Boo hoo hoo war in iraq is going on to long, boo hoo hoo I can’t afford groceries, education, and health care. Boo hoo hoo McCain is going to win in 08′ and Obama will lose. Boo hoo hoo jobs are being ’shipped overseas’. Pleeeeaase help me Obama I’m a crybaby liberal.
Oil WILL go to $200. Gas will go to $6 gallon. Facebook is worth $30 billion. We are still in the smartist era of hypercapitalism, web 2.0, consumerism, materialism, globalism, paymentism, and spendism. Phones will be wiretapped under FISA and you will like it. McCain will win. No pull out in Iraq and no time tables.
In the meantime instead of being a loser BUY these stocks and ETFs for the ‘new era’:
MOS POT IPI MA
V PCX EWZ KOL CLF
AAPL GOOG BIDU
RIMM FSLR BTU
CLR ANR OIL/USO
3 Responses to “Phil Gramm is Right. We are a Nation of Crybabies”
Pingback from iamned.com Blog » Imaginary Credit Crisis Rages On; McCain Rally to Resume
Time September 16, 2008 at 12:31 am
[...] bears remembering that the only only recession we’re in is a fake, media generated one. We’re also in a fake housing bubble and a fake credit crunch/liquidity crisis. Contrary to [...]
Pingback from iamned.com Blog » The Economy is Still Fundamentally Strong
Time September 17, 2008 at 7:06 pm
[...] best advice is to buy stocks such as GOOG AAPL MOS POT PCX EWZ V MA on the dips anbd ignore the pro-Obama recession crybabies who are spreading undue fear and protectionist propoganda. var disqus_url = [...]
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Pingback from iamned.com Blog » Fake Recessions and other Obama Nonsense
Time September 14, 2008 at 6:39 pm
[...] Phil Gramm is Right. We are a Nation of Crybabies [...]