Thursday, September 25, 2008

Quote of the Week

WE'VE MOVED! Democratic Convention Watch is now at http://www.DemocraticConventionWatch.com

On $700 billion:

"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."- Forbes

Posted by Matt at 10:00 PM

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SLCScott 74p · 859 weeks ago

That's incredibly juvenile. Next they'll be holding their breath until the country turns blue.

Oh, wait, that's already happened. :)
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Vicki 51p · 859 weeks ago

okay, now that just pisses me off even more.
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tmess2 70p · 859 weeks ago

Welcome to as Phil Gramm called it "the psychological recession." Of course, what Phil Gramm failed to note is that every recession or panic (in the financial/economic sense of the term) is partially psychological. At some point, people see enough worrisome indicators that they lose confidence in the economy or the financial markets and they act on that loss of confidence.

On the one hand, picking out a large number helps shore up the confidence of the market. On the other hand, the large number helps generate opposition to the proposal based on the price tag.

Right now, the question is who does this country have less confidence in -- the economy, the President, Wall Street, or the House Republicans?
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