Wednesday, September 17, 2008

from the mouth

of the woman who could be our next vice president.  about this economic crisis:

"this crisis happened for several reasons which have to be addressed right now.  guys and gals. . . our regulatory system is out of date and it needs a complete overhaul.  our economy will grow and we will get government out of the way of private sector progress."

#1.  guys and gals?!?!  why does it piss me off so much she said guys and gals.  come on i'm an adult, you're not addressing an audience of middle schoolers.

#2.  isn't that a complete contradiction.  are you saying you are not going to be the one in charge of this complete overhaul?  so who is?  

mccain's beautiful back track was just lovely yesterday too.  "the fundamentals of our economy are strong" although we are seeing things we haven't seen since the great depression.  wait what i meant by fundamentals is the ingenuity of the american worker.  ah yes, of course, fundamentals has a whole new meaning.

Why that's wrong: Economists, politicians and journalists have long referred to economic "fundamentals" as quantifiable concepts, such as unemployment rates, gross domestic product, inflation, productivity and so forth.

Moreover, in their widely used textbook, "Economics," Paul Samuelson and William Nordhaus titled their first chapter "The Fundamentals of Economics," and noted that "Every society must answer three fundamental questions: what, how, and for whom? What kinds and quantities are produced among the wide range of all possible goods and services? How are resources used in producing these goods? And for whom are the goods produced (that is, what is the distribution of income and consumption among different individuals and classes)?"

Note the absence of "workers."

McCain's attempt to stretch the word "fundamentals" into a synonym for "workers" is a stretch too far.

from this article

1 comment:

The Lucks said...

Love it! So true indeed. Does he or she even know the definition of economics? Macro/Micro??? You know the basics that the majority of us learned in high school economics class and many of us furthered in classes in college.