Phil Gramm’s (Dr. Phil Jr.) “Mental recession” remark was about the dumbest political remark possible especially with the price for ‘regular’ gas being $4.10! That’s one of the reasons I will not vote for a republican – their heads are stuck up their ass and they are out of touch! They do not understand my life and my concerns.
“You’ve heard of mental depression; this is a mental recession,” he said, noting that growth has held up at about 1 percent despite all the publicity over losing jobs to India, China, illegal immigration, housing and credit problems and record oil prices. “We may have a recession; we haven’t had one yet.”
Mental recession my ass!!! I know Cindy McCain is a heiress and spent $750,000 on her credit card in May (one month worth of charges!) so I guess they don’t understand someone’s pension plan losing $20,000, $50,000 or $75,000 in six months and how destructive that is. I guess they don’t understand someone losing their entire pension in companies like Enron and how devastating that is!
It’s summer and if you live in the south, west or just about anywhere in the US you’re going to be using your air conditioning and I can only imagine what electric bills will look like when we receive them. Not to mention the millions of real living breathing Americans who have lost their homes because of the sub-prime disaster.
Its summer and children are home and they have to be fed and the price of groceries has gone up 17% since last July. As you read this, the price of a gallon of milk is more than the cost of gallon of gas in many cities.
Cooking oil and bacon showed the largest retail price increases in the last month. A 32-ounce bottle of vegetable oil is up 71 cents to $3.79, a 32-oz. bottle of corn oil rose 57 cents to $3.94 and one pound of bacon was up 30 cents to $3.99. Whole fryer chickens and a dozen large eggs both up 27 cents to $1.72 a pound and $2.99 respectively; a 20-ounce loaf of white bread up 21 cents to $1.66; a pound of apples and a 32-ounce jar of mayonnaise both up 10 cents to $1.72 per pound and $3.82. And of course prices are higher in some towns and cities. How are single income homes going to pay bills and eat?
Just today the Wall Street Journal reported that Freddie Mac shares plunged 22 percent to 8.00 dollars, down over 40 percent this week and 75 percent this year.
Fannie Mae sank 14 percent to 13.20 dollars, down 26 percent in the week and 64 percent for the year. The Wall Street Journal also said that the Bush administration has held talks about what to do in the event these two former mighty titans falter.
A couple of weeks ago a Ford Motor truck plant in Wayne, Michigan, shut its doors for nine weeks to save money, and the company is offering buyouts to workers at four factories. First-half sales of cars and light trucks slid 14 percent at Ford, 16 percent at General Motors and 22 percent at Chrysler.
Toyota Motor, the world’s second-largest carmaker after GM, said June 24 that it might cut its 2008 U.S. sales target.
“We have sort of become a nation of whiners,” Phil Gramms said. “You just hear this constant whining, complaining about a loss of competitiveness, America in decline,” he said.
Are republicans that out of touch with America? Yeah, yeah that is a redundant question but I had to ask it. The U.S. simply doesn’t call the global economic shots anymore as it did in the decades following World War II and even in the late 1990s.
“Misery sells newspapers,” Mr. Gramm said. “Thank God the economy is not as bad as you read in the newspaper every day.”
Misery doesn’t sell newspapers. I don’t know if Phil Gramm has noticed, but newspaper circulation has declined and continues to weaken! Just last week the L.A. Times announced major layoffs. What is Dr. Phil Jr. talking about?
Collectively Americans are not doing better than we were 8 years ago. Even if we are doing ‘OK’ individually we should be doing much better than we are doing today.
Dr. Phil Jr., I know you are John McCain’s economic guru but you are so wrong, so out of touch and have no empathy for suffering Americans. You are a donkey’s a-s-s. Americans are not in a state of ‘mental recession’ but it seems that you have a case of ‘mental retardation’.
P.S. My profound apologies to anyone who is clinically mentally retarded – I know calling Gramm a mental retard makes you look bad – sorry! 😳