Echoing Mr. Irrelevant's recent cluelessness about the current economic situation, McCain responds to the current Wall Street debacle by stating that the fundamentals of the economy are still strong:
You know, that there’s been tremendous turmoil in our financial markets and Wall Street and it is — people are frightened by these events. Our economy, I think, still the fundamentals of our economy are strong. But these are very, very difficult times.If the fundamentals involve taxpayer bailouts of companies that engage in risky transactions, ever-increasing debt (issued by a supposedly fiscally conservative administration) of money that we owe to China and Japan, a currency that no longer has any power in the global market and advisers who think all of this shit is in our heads and we're just whining about it, then yes, the fundamentals are all there.
And don't think for a minute that the current administration is not going to do everything possible to keep things propped up until election time. After that fateful day, who knows what will happen to the likes of Lehman Brothers, or the likes of American citizens for that matter.
Update: Whoops! It looks like McCain chose a running mate who is as much of an economics supergenius as he and his boss are. A couple of years ago during her gubernatorial run, Sarah Palin admitted that she shared Bush's educational aspirations:
"Let me help you out if you're looking for skeletons in my closet," she said. "I got a D in a macro-econ course 24 years ago in college."
[H/T to Steve Benen]