Phil Gramm Was So Wrong He Was Right

Posted on 02/02/2009 at 12:29 pm by Bob Cesca

by Lee Stranahan

“You’ve heard of mental depression; this is a mental recession…” – McCain economic advisor Phil Gramm

When Phil Gramm called the country’s economic problem ‘mental’, he was ooted from the McCain campaign within a few days. And for good reason – he, like the other Republican leadership, treated the obviously faltering economy like a mere illusion that happy talk and willful ignorance could save the economy. That attitude made the problem worse.

But I can’t help thinking he was onto something; just aimed at the completely wrong people. There IS a mental component to the economy and the short sighted, selfish lugheads who are laying off workers and cutting hours when their company is making money have a real mental problem. These CEOs are making the country worse.

By focusing on layoffs at their companies, these business executives are not focusing on growing and expanding their companies in a time where there are tremendous opportunities. Of course, Gramm wouldn’t have dared be critical of corporate America so he didn’t see the real source of the cynical negativity is in the boardroom, not the lunchroom.

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  • GIthePotato

    “I LIKE POTATOES”

  • http://unrelatedcontent.com Travis D

    Uhm, he wasn’t booted from the McCain campaign.

  • GIthePotato

    Damn tubes are clogged!!

  • Lee Stranahan

    McCain strongly denounced Gramm’s comments. On July 18, 2008 Gramm stepped down from his position with the McCain campaign.

  • http://www.osborneink.com Matt Osborne

    Perhaps the problem is mental **illness.** After all, the definition of insanity is the act of doing the same thing over and over again, expecting a different resul. These boardroom types don’t seem to be doing anything different than they were a year ago; the difference is that they are doing it with taxpayer money.

  • GIthePotato

    Seriously, I think I am being blocked. I have to send random messages to knock the shit out of the tubes so I can see other comments. KABOOM!!!

  • http://nanotyrnns.blogspot.com/ Nanotyrannus

    Great point, Lee. He couldn’t see it. To the Masters of the Universe Business Types, what they are doing now is securing their future. They can see the writing on the wall and know that the tax-cut Garden of Eden they’d been living in has evaporated before their eyes. They don’t see this administration as “business-friendly” so they are cutting now so they can fill their larders with cash to replace what they believe they wont get from Congress and the president.But I like your point. From Graham’s viewpoint, it’s not them, it’s us little people that are fucking this whole thing up.

  • gypsy

    i once did a study on a billion dollar company that switched all their production overseas for only what seemed to be 20,000 dollars in yearly savings. (which was nothing to them) so why did they do it? tax breaks. didn’t have to provide health coverage. relaxed to NO waste removal/production codes. and the list went on. it’s easy to blame the companies based on surface figures but i am sure they are getting a bump by their actions somewhere. when obama reverses the incentives bush gave corporations to screw the american worker i feel we will not only rebuild our workforce but we will have strict production/manufacturing/ethical practices enforced to reduce our impact on the environment and create a healthy workplace. “he’s got this!” i hope…btw joe…what is this potato thing about?!

  • Elena

    I would agree, many coporate types have a mental problem. Many companies are giving out no raises this year, cutting workers, ending their 401K match. All while giving themselves huge bonuses. Its no wonder the populace is angry.

  • http://www.politicalpartypooper.wordpress.com/ politicalpartypooper

    Gypsy,Those tax breaks you were talking about in your post have been around since the Cold War. They were originally enacted to encourage American business to do more business overseas, in an effort to do International Public Relations for Democracy. Trouble is, the Cold War ended, and those tax breaks didn’t.Every Presidential Candidate since then has vowed to end those tax breaks during his campaign. Really, though, it’s just campaign fodder. We won’t hear about those tax breaks for another two years, or until the first Prezzy candidate files, whichever comes first.Always remember that there are some campaign issues that cannot and will not be solved, because they are such effective issues to begin with. Until we start holding these two parties to their campaign promises (all of them), we will hear about these issues forever.Kick your congressman, senator, and political party out of office. Then maybe something of value will be accomplished. Obama cannot do it by himself.

  • SillyGit

    PPP -Well said.

  • gypsy

    yep. you’re right ppp, but look up everything bush did with foreign trade and tax breaks for those companies that moved. there wasn’t a boom out of coincidence.

  • http://www.politicalpartypooper.wordpress.com/ politicalpartypooper

    Gypsy,True.

  • GIthePotato

    POTATO

  • FrictionSoul

    By focusing on layoffs at their companies, these business executives are not focusing on growing and expanding their companies in a time where there are tremendous opportunities.

    There are tremendous opportunities but these businesses forgot a very long time ago how to make money; the law of diminishing returns was passed a long time ago, too.The bailout just artificial support. They will fail and I’m hoping by then people will start to realize Business 101: Meet the needs of people if you want to be successful. I keep meeting people who are going to grow their own food and/or join a CSA. It’s really moving forward out here in west Denver.