Economy

John McCain = Herbert Hoover?

First there’s this quote from Bloomberg about why Fannie Mae and Freddie Mac are having their surplus capital requirements eased:

The worst housing slump since the Great Depression is being exacerbated by the limited ability of Americans to get mortgages or refinance loans amid tightened standards at money-losing banks.

Then this uplifting tidbit from Reuters:

Democrat Barack Obama’s big national lead over Hillary Clinton has all but evaporated in the U.S. presidential race, and both Democrats trail Republican John McCain, according a Reuters/Zogby poll released on Wednesday.

Given that McCain sees himself as another war president, and blithely dismisses the economic problems of our country as beneath his interest, what can we expect?

I suspect that if the unthinkable happens and Johnny War Hero wins in November, we’re about to see a guy earn himself an unenviable place in American history – McCain may well find himself the next Herbert Hoover.

Categories: Economy

13 replies »

  1. I’m not saying I would want McCain to be president, but worse than Bush, that’s almost impossible. I’m actually kind of torn with McCain, sometimes I actually think deep down inside he is pandering to the war drums of the right to get elected, but wont actually start another war, then on the other hand I think he’s upset he didn’t get enough chances to bomb Charlie in Nam, and wants to kill anyone who’s not white. Either way I won’t vote for him.

    As far as the Polls, I’m not worried about that at all. From what I heard the Obama camps polls have been right on the money, they already plan on losing Pennsylvania. I believe the last I heard from their “official” camp was 42-46% for PA. As far as the national polls, those will even out once it’s down to two.

    Besides the record turn out this year, I also hear that there is a small amount of undecided voters. The all important undecided voters shouldn’t be that large of a factor in the Democratic primary.

    I’m sure if Obama gets the nomination the right will bring out the reverend’s sound clips, yet I find it funny that the same people who said Barack was Muslim are the same people talking about his CHRISTAN minister. I didn’t think you could be both.

    Oh and as far as judgment, here’s the latest person to join the Clinton Campaign.

    link

    “Mister we could use a man like Herbert Hoover again”

  2. McCain can’t be Herbert Hoover, because that would mean following Calvin Coolidge. Coolidge was definitely a do-nothing president, ignoring very real structural problems in the economy and leaving the mess for Hoover. But even so, he was a better president than W.

    No, W is at least as bad as Warren G. Harding, and probably worse. It’s hard to believe, but he may the the worst American president to date.

    Never thought I’d see that.

  3. “on the other hand I think he’s upset he didn’t get enough chances to bomb Charlie in Nam, and wants to kill anyone who’s not white.”

    Although he may have some lingering racism issues, he’s not a genocidal white supremacist. News flash: he adopted a 3-year-old, dark-skinned Bangladeshi girl with a cleft pallet from Mother Theresa’s orphanage back in ’93. I doubt that jives with your notion of a Republican presidential candidate but that is still no reason to use Rovian untruths against him.
    link

  4. Hoover the worst president? Nooo! That honor will go to Woodrow Wilson for selling his country out to the banking interests by helping create the Federal Reserve System. George Bush I was evil, re Panama, Kuwait, etc., but George W. has been almost as bad (Iraq, the wildly misnamed USAPATRIOT ACT, the erosion of the Constitution, etc.). I’m just afraid McCain is a war-mongering globalist like the Bushes and the Clintons. I wanted Ron Paul, but he had no chance because of his stance on getting rid of the Fed and the IRS. Obama is a ? But after hearing his speech on freedom, racism and the dumb remarks of his minister, I’m favorably impressed. Ultimately, it won’t matter in the least. As Rothchild said, “Give me control of a nations money and I care not who serves as leader.” That’s not exact, but it is close.

  5. “Rothchild said, “Give me control of a nations money and I care not who serves as leader.” That’s not exact, but it is close.”

    If there is one thing the far right LOVE to promulgate over and over again, seeding at a working man’s grass roots level, it is the Banking Cabal (Jewish lead and Jewish inspired) Conspiracy run by evil minds.

    Ye gods.

  6. I’ve always considered Andrew Jackson to be the worst President ever, seeing as he was arguably even more of a criminal than Nixon, but that’s IMO.

  7. Thanks for all the thoughtful comments. Never said Hoover was our worst president. He was perhaps our unluckiest in that he took the blame for all the doings of Harding and Coolidge (or non-doings in the Coolidge case).

    That could well be McCain’s fate if he becomes president. With his ignorance of economic issues and the mess left by NAFTA, the dot com bust, the Iraq War, the credit/banking mess, and tax cuts for the rich, we could easily see a recession not unlike a depression.

    And McCain would be the guy holding the bag – while that slime ball Dubya walks away richer and weaselier than ever….

  8. And McCain would be the guy holding the bag – while that slime ball Dubya walks away richer and weaselier than ever….

    But…but…

  9. One of these days I need to remember to sit down and write up a pro-NAFTA post. Because NAFTA gets a bum rap – yes, it’s all screwed up, but that’s the fault of the U.S. government that essentially castrated it with tariffs, the corporations who have used it to abuse our trading partners (especially Mexico), and the unions who could have used it to their advantage but saw only the threat, not the opportunity.

    Another great idea, ruined by greedy and/or myopic morons….

  10. Another great idea, ruined by greedy and/or myopic morons….

    There’s a typo in that sentence. I think you meant “Another great idea, cleverly crafted by by greedy and/or myopic morons….”

  11. Hoover was a very bright man. John McCain is a dolt with aging problems. If you meant that the next president is going to be in a shitstorm not of his or her own making, over which he or she has no control, well I agree. The loser will be Al Smith, the first catholic to run for president. Had he won, John Kennedy would not have been presibent 32 years later.