This weekend’s events concerning FredMac and FanMae counter Gramm’s rosey economic scenario. If these two GSE’s go under, then you’ll hear some real whining, especially from Japan.

Have a good week. :)

Because he has a deserved reputation for knowing a lot about economics, finance and public policy. That was why McCain picked him as his economic advisor and spokesman, as is obvious to any reasonable observer. If your ad hominem slanders were true McCain wouldn’t have gone near him.

Wendy Gramm, as CFTC chairwoman, promoted a rule excluding Enron’s energy futures contracts from government oversight. Wendy later joined the Houston-based company’s board and her Enron salary and stock income brought between $915,000 and $1.8 million.

Why would anyone listen to the esteemed Dr. Gramm?

It’s interesting how Obama gets a pass when one of his people states the truth, or says something unpopular. But one McCain guy states the pure economic facts and McCain gets unartfully pummelled.

Note also that aggregate statistics can be misleading. See, for example, Dynamic Maps of Nonprime Mortgage Conditions in the United States, or this heat map.

* not the one about whether I deserve to be laid off or not; it wouldn’t be very challenging

“Welecome to Nuclear-Hot Critial Breaking Exploding Orgasmaing News at the Top of the Hour…. OMG!!! Presidential Candidate x’s suppoter said y today. Top news!!! Candidate z demans Candidate x condems y. X says z is a pedophile and should be quiet”

Those who are insecure, are made to feel their perceived weakness more deeply. Those with a more accurate feeling of contempt for politicians are naturally outraged that what most of them regard as lowlives dare to speak so to their moral and intellectual superiors.

Many Americans are hurting. If you live in a big city, and use your car once a week to visit the beach, then no, you’re fine. If, like Senator Gramm, you have tons of cash from your senatorial pension, then no, you’re fine. But home heating fuel, electricity, and gasoline have gone up a lot, and stayed up. And most of the country has to drive a lot if they want to keep their job.

I’m glad things at the Tennwriter la casa are so arranged that most of the other usual bills are very low or nonexistent, but still, $4 a gallon hurts. If instead of paying down our bills, we’d instead bought the 72″ plasma screen, well, we’d be in trouble, instead of merely pinched.

There are a lot of things I could buy if I didn’t have to send huge gobs of cash to the Saudis so they can finance terrorists. The economy would be raging forward if gas was $2 a gallon.

This isn’t whining. This is reality. Sure the economy isn’t in recession, but energy costs have gone up 250% for gasoline, and a substantial, but not so exquisitely painful amount for Mr. Propane and Mr. Electron.

I’m a conservative. I already knew Senator Gramm had lots of problems. I’m not surprised that Senator McCain chose him because both of them are rude. I’m not surprised Senator McCain slapped Senator Gramm down either because anyone could have told him that calling the US a nation of whiners was really, really not a good idea. It didn’t work too good for President Carter when he called America a helpless giant or that ‘malaise’ thing.

There is a reason the 70’s come up. No, we’re not as bad off as then, but still. Clueless, arrogant, not very conservative Republicans, the US acting passively in foriegn affairs, extxtreme fuel costs, and Jimmy Carter…I mean Obama about to win the election. I’m just waiting for disco to come back.

Given that most residential real estate changes hands among Americans, I’m not sure that increases/decreases in res R/E price levels (except for those based on physical improvements) should be counted in the national wealth at all. What they really are is asset inflation/deflation.

High energy prices are generally bad for the economy, but areas that actually produce oil and natural gas benefit from high energy prices. Some of the areas that complain the most about the current state of the economy consistently block anything in their backyard that would increase energy supply.

Touche`

I let the “concocting” comment get the better of me. Jay, I’m sorry.

Civility is the first thing to go. If we let it.

“…or concocting arguments like those of “NYC,” above.”

Yeah, this whole housing bubble thing is a figment of my imagination. Is it your contention that falling home prices and
the disintegration of subprime home loans has NO effect on the economy? What exactly DOES effect the economy in your world? Let’s just say I’m less than surprised you’re facing a layoff.
Idiots are usually the first to go.