Friday, July 11, 2008

The Blind Men, the Elephant

Lawrence Kudlow asserts that "today's economy may be the greatest story ever told". Jim Cramer, Kudlow's former cohost on CNBC, told us last night that most of the banks in this country are basically insolvent. Phil Gramm, John McCain's economic guru, tells us that we are a nation of whiners and then, after the firestorm, says that what he meant to say is that our leaders are the nation of whiners. McCain contradicts his adviser and says, no, the country is "experiencing great difficulties", but, on a few key issues, McCain offers the country "psychological" relief. Therapy is expensive on the open market, though.

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