Here are the headlines on the economy from the last couple of days:
- Wall Street in Worst Loss Since 2001
- Fed Takes Steps to Aid A.I.G.
- Lehman Files for Bankruptcy; Merrill Is Sold
- Nation’s Financial Industry Gripped by Fear
And this is what Sen. John McCain has to say:
“You know that there’s been tremendous turmoil in our financial markets and Wall Street. People are frightened by these events,” McCain said. “Our economy — I think still, the fundamentals of our economy are strong — but these are very, very difficult times. And I promise you we will never put America in this position again.”
Um…. Huh? I’m having difficulty parsing this statement. The fundamentals are strong, but times are tough, which would seem to mean that the economy is not all that strong. So how can the fundamentals remain strong?
My head hurts.
Hank Kalet 