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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (199426)	9/1/2004 5:21:38 PM
From: tejek	Read Replies (1) \| Respond to of 1584287

I Am an Economic Girlie-Man By Bill Mann (TMF Otter) September 1, 2004 In his speech last night at the Republican National Convention, California Gov. Arnold Schwarzenegger pinged folks who are pessimistic about the state of the U.S. economy, calling them "economic girlie-men." On a personal level, I thought it was a pretty funny line, and there's certain comedy to the fact that Arnold gets to spoof a line that was used on Saturday Night Live to spoof Arnold. Here's the exact line: "To those critics who are so pessimistic about our economy, I say: 'Don't be economic girlie-men!"' But you know what? I'm pessimistic about the economy. I'm afraid that the Federal Reserve has backed itself into a corner. I'm afraid that lending discipline among mortgage companies has completely collapsed. I am concerned that low interest rates have been used to entice the American consumer to clean up a recession borne by an irresponsible corporate spending binge by going on one of his own. I'm afraid that the $200 billion-plus that Americans have cashed out of their houses has been spent, and the next drop in interest rates won't be concomitant with a rise in prices; rather, it will be because of a full-fledged financial emergency. fool.com