Obama would drag US into depression: McCain camp

[radfringe]

Source: WASHINGTON (AFP)

Obama would drag US into depression: McCain camp
55 minutes ago

WASHINGTON (AFP) — John McCain's White House campaign Monday dragged rival Barack Obama back to the domestic fray, scorning his economic plan as a recipe to plunge the United States into a 1930s-style depression.

Top aides to the Republican senator vied to steal the thunder from an illustrious panel of economic advisors being convened by Obama -- and recapture some of the headlines after the Democrat's much-acclaimed foreign tour.

But with fewer than 100 days now to go before the November 4 election, Obama had opened up a nine-point lead in the latest Gallup poll released Sunday -- 49 percent to 40 for McCain.

Carly Fiorina, a key lieutenant to McCain and former boss of computing giant Hewlett-Packard, said a recession triggered by the 1929 Wall Street crash became a depression through the imposition of higher taxes and trade barriers.

Read more: http://afp.google.com/article/ALeqM5hD0zJf7Raz2QJhFJhAI-kkEFL_Lg

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http://stone-waves.blogspot.com/2008/07/4-more-years.html

[maxsolomon]

1. dupe

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=6550864&mesg_id=6550864

[Rambis]

2. Does McSame mean deeper?

he is hopeless- Does he stand for anything about himself or his vision?:shrug:

[Bicoastal]

3. Actually, I agree with this particular headline...

I think McCain and his campaign will be VERY depressed when Obama is elected President.

[DUlover2909]

15. hahah and so will all the fundies, neocons, and freepers.

[jmondine]

20. So, it would be, say, a depression of the mind?

[Pale Blue Dot]

4. They're setting up the fall guy now.

They know they'll be able to say "I told you so!"

[eleny]

5. For the elderly it's already here

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3412526

[notesdev]

6. Too late

We are already plunging into 1930s-style Depression, and this one may make that one look like a mild downturn.

We will need a massive turnover in our legislature to have a prayer of even mitigating it. The ones who are there today are still throwing good money after bad trying to prop up a system that doesn't deserve to be propped up, and can't hold together even if it is.

[Blaq Dem]

10. Exactly. George Bush has already given us a head start on that one.

They will allow a black man get elected so that he could take the fall. They're trying to prop up Bush's legacy too.

[bdamomma]

19. what legacy???

not when this comes out

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3689473

[dweller]

7. we could be there long before Nov 4

(at the time of posting, it was at -172.)

and all fingers should point at *moron.
dp

[hopewell1985]

8. Mcgayne

And what would he do?

[Frisbee]

9. Does he even realize that...

We are already heading that direction, and it is in large part due to HIS economic guru, who would probably be his TREASURY SECRETARY? I am still trying to decide if he is either that stupid, or a liar that would make * proud. Actually, I guess those two options aren't mutually exclusive.

[klyon]

11. I think he has no grasp of reality at all

As I have been telling my conservative neighbors for years, republicans are destroying our economy. Trickle down is tinkle down economics.

[TexasLawyer]

12. Obama will kick your puppies

and short-sheet your beds! Geeze, enough already, McSame!

[BearSquirrel2]

13. Delusion vs. Evil ...

There are some people who are deluded into thinking that the great depression was precipitated by protectionist trade and taxes. The reality is, the Great Depression was caused by a great disparity in the distribution of wealth. It was so bad that the "haves" simply saw no benefit to investing as they pretty much had it all already.

Then there are other people who KNOW the deep lack of economic fundamentals that led to the great depression and they trumpet their supply side nonsense simply because it justifies their own greed.

There is deluded and evil. I don't want either one.

One thing is for sure, McCain is VERY behind in this race and we are seeing a man backed up against the wall. This is a completely new John McCain. He's given himself over in whole to the right wing smear machine in his vain ambition to be president. He might as well be GW Bush's puppet. What disturbs me is that the people on the right don't seem to notice his colossal flip-flops and profound lack of consistency and integrity.

[truthisfreedom]

14. Correction "Obama would drag us into depression: McCain camp" Yep, they'd be depressed alright.

8^)

[fjc]

16. This is a bit politically incorrect but...

pot, kettle, black.

[bdamomma]

17. it is all BS

blame Obama for the next terror attack and the depression

desperate measures by desperate men McInsane is throwing the BS around.

[sinkingfeeling]

18. Too late, McSame, Bush has already destroyed the US economy for years.

[jmondine]

21. Because we all know...

That Hoover was a Democrat and FDR was a Republic... oops!

[Stuckinthebush]

22. Does this joker have anything positive to say?

He's such a nasty man from a nasty party with nasty ideals and nasty money fueling him.

I bet he has nasty armpits too!

Nasty.

[jmondine]

23. My advice to the McCain campaign

Keep bringing up historical examples where conservatives screwed things up and progressives rescued us... Yeah, that'll work! :)

[Sick Of Their Lies]

24. We are already in one

"Dictator For Life" Bush and Czar Cheney already has us in a 100 year long depression. And Obama will not be able to get us out because after Obama wins in November Bush will declare the elections and Congress Null and Void and officially declare himself "DICTATOR FOR LIFE"

[Kierkegaard]

25. Not much thunder to be stolen when your boy has already said:

"I know a lot less about economics than I do about military and foreign policy issues. I still need to be educated."

[GoddessOfGuinness]

26. Right. If the rich don't keep getting richer,

the rest of us are really going to be screwed. :eyes:

[scarface2004]

27. obama will end life as we know it!

if elected obama s first act will be to blow up the world so we won t have to put up with this shit anymore!!

[jaybeat]

28. Damnit, Carly, we told ya' not to booze it up until AFTER you talk to the press

"a recession triggered by the 1929 Wall Street crash became a depression through the imposition of higher taxes and trade barriers"

:rofl: :rofl: :rofl: :rofl:

The Great Depression was not a sudden total collapse. The stock market turned upward in early 1930, returning to early 1929 levels by April, though still almost 30 percent below the peak of September 1929.<6> Together, government and business actually spent more in the first half of 1930 than in the corresponding period of the previous year. But consumers, many of whom had suffered severe losses in the stock market the previous year, cut back their expenditures by ten percent, and a severe drought ravaged the agricultural heartland of the USA beginning in the northern summer of 1930.

In early 1930, credit was ample and available at low rates, but people were reluctant to add new debt by borrowing. By May 1930, auto sales had declined to below the levels of 1928. Prices in general began to decline, but wages held steady in 1930, then began to drop in 1931. Conditions were worst in farming areas, where commodity prices plunged, and in mining and logging areas, where unemployment was high and there were few other jobs. The decline in the American economy was the motor that pulled down most other countries at first, then internal weaknesses or strengths in each country made conditions worse or better. Frantic attempts to shore up the economies of individual nations through protectionist policies, like the 1930 U.S. Smoot-Hawley Tariff Act and retaliatory tariffs in other countries, exacerbated the collapse in global trade. By late in 1930, a steady decline set in which reached bottom by March 1933.

http://en.wikipedia.org/wiki/Great_depression

The economy had hit rock bottom in March 1933 and then started to expand. As historian Broadus Mitchell notes, "Most indexes worsened until the summer of 1932, which may be called the low point of the depression economically and psychologically." Economic indicators show the economy reached nadir in the first days of March, then began a steady, sharp upward recovery.

http://en.wikipedia.org/wiki/New_Deal

Oh, and Carly, in case you're a little fuzzy with numbers, FDR was inaugurated in March of 1933, so his policies could not have turned a "recession" into a "depression."

[Odin2005]

29. We are already IN a depression you senile fool. n/t

[Agony]

30. Breaking! McCain would drag the United States further down the deficit rathole.

financial and moral deficit that is...

[wishlist]

31. All his campaign has to offer is the usual Repub extreme fear tactics n/t

[Lone_Star_Dem]

32. Pay no attention to what Republican rule has done to the economy over the past eight-years.

For some reason this just popped in my head:

"I am the Great and Powerful Wizard of Oz! Pay no attention to that man behind the curtain....the...Great...er...Oz has spoken."

[regnaD kciN]

33. As opposed, of course....

...to the great job the Republicans have been doing running the economy since Reaganomics. :eyes:

[DailyGrind51]

34. Hell, just thinking about a McCain presidency drives ME into depression.

"Where the fuck is that Prozac!"

[damntexdem]

35. "I've been down so long, the bottom look like up."

The Bushistas have been leading us to an economic disaster much worse than the Great Depression. Now the McCain camp wants to pin it on Obama.

Hey, whatever happened to blaming everything on Bill Clinton? Oh, for the good-old days! ;-)

[superconnected]

36. Does he mean the defense industry?

[deacon]

37. MccRove. n/t

[Rosa Luxemburg]

38. McCain's master (W) started it all

McCain is Bush's servant

[AlphaCentauri]

39. My advice to Obama

First day in office Audit the republican administration, let the people know whats going on.

[area51]

40. Pssst ... don't look now, McBush,

but this country's been in a Depression since 2001, we never came out of the recession and it's deepened over time into a Depression.