Has Anyone Seen Phil Gramm Lately?

[Joanne98]

Americans received stunning news yesterday as the Labor Department announced that 159,000 jobs were lost during September -- which became the worst job loss in five years:

The U.S. economy lost 159,000 jobs in September, the worst since March 2003, the Labor Department reported Friday. The economy has now lost 760,000 jobs this year, further evidence that the economy was in a recession even before the financial market crisis of the past few weeks.

"Whatever the government might or might not do to try to bail out the financial system, a consumer-led recession is upon us, and it promises to be a serious one," wrote Josh Shapiro, economist for MFR Inc.

The unemployment rate was steady at 6.1% as expected, with 9.5 million Americans looking for work, the government said. An alternative measure of unemployment that includes discouraged workers rose from 10.7% to 11%, the highest since April 1994.
In recent weeks, John McCain (R) has attempted to adopt a more populist campaign message to stay competitive with Barack Obama (D) on the economy. But despite McCain's attempts, his own past comments about the economy and his former economic adviser, Phil Gramm, remain an albatross around McCain's neck. As the stunning job loss numbers were announced yesterday, many people are reminded of the comments made by Gramm in July:

Gramm, who advised presumed Republican nominee McCain on economic matters, made the controversial comments while discussing the economy. "We have sort of become a nation of whiners. You just hear this constant whining, complaining about a loss of competitiveness, America in decline," the former Texas senator said.

"You've heard of mental depression; this is a mental recession."

Yesterday, the House Minority Leader, John Boehner (R), grew emotional as he spoke on the floor of the House to urge passage of the economic rescue bill before Congress:

"But even if we pass this bill today," he continued, "let's not kid ourselves. We're in the midst of a recession. It's going to be a rough ride, but it will be a whole lot rougher ride if we don't pass this bill. I will say to all of you, when this bill passes today, remember those words 'In God we trust,' because we're going to need his help."

Currently, Gramm is a top executive with the global investment firm UBS. Two weeks ago, Gramm was unavailable to make any further comments about the nation's economic crisis:

Gramm was not available for comment and a UBS spokesman declined comment on his behalf. "He's in back-to-back meetings all day and not very interested in doing interviews this week," said UBS spokesman Doug Morris.

Perhaps Gramm now realizes that America is not simply in a "mental recession" ...

http://www.politicalbase.com/profile/Chris%20Brown/blog/&blogId=4553

[Bucky]

1. Ironically, Phil Gramm himself does seem to be in a mental recession

Don't worry, Phil. Hope is on the way.

[mikelgb]

2. Only in spirit

[iceman66]

3. I think they're keeping him in a closet until after the election.

[napi21]

4. He's hiding in an undisclosed location, along with Cheney & I

also haven't seen Rick Davis or that ex-HP CEO either. Maybe they're all hiding out together!

[LiberalAndProud]

5. I think he's in his counting house, counting all his money.

[southerncrone]

6. Yep. He's the reason they wanted to change the bill to include foreign banks, (UBS).

I wish he'd go away FOREVER, along with Cheney, Lil' Lindsey Graham, Joe Lierman & a host of other assholes.

[burythehatchet]

7. pictured here recently

[Raineyb]

8. No, but I haven't checked under EVERY rock. n/t

Regards

[Ikonoklast]

9. He's busy looking for Carly Fiorina

She went on a much needed vacation to Erehwon.