McCain's 5 Stages of Grief over the Economy
By Jon Perr Monday Sep 22, 2008 1:30pm
The implosion of Wall Street last week resulted in a near-death crisis for John McCain's presidential campaign. His post-Palin bump eviscerated, McCain was staggered by the re-emergence of the economy as the dominant issue in the 2008 election. His daily-changing positions revealed that McCain, a man who has repeatedly admitted his ignorance of economics, is struggling to cope with his diminished presidential prospects. Armchair psychologists might call the process John McCain's five stages of grief over the economy.
Denial. McCain's refusal to confront the realities of the failing Bush economy has long roots and was again on display last Monday. McCain, who has frequently described the economic slowdown as "psychological," for at least the 18th time proclaimed the "fundamentals of our economy are strong." As the Dow plummeted over 500 points, McCain reacted to the white-hot crisis on Wall Street by comically announcing his support for a 9/11-style commission to study the causes of and make recommendations to address the meltdown. Willing to kick the can down the road with his since forgotten 9/11 panel idea, McCain also took a head-in-the-sand position in opposing the government rescue of teetering insurance giant AIG:
"We cannot have the taxpayers bail out AIG or anybody else."
Anger. Sadly, McCain's denial of the obvious produced an immediate backlash from the press and the public alike. Literally within hours last Monday, McCain reversed course on the underlying strength of the American economy and declared the fundamentals of the economy to be "at great risk."
Then John McCain did what he does best - he got mad.
(Unsurprisingly, McCain also launched a furious tirade in response to accusations 20 years ago about his Keating Five role during the last U.S. financial catastrophe.) Redefining "economic fundamentals" to refer the U.S. work force, McCain blasted his "opponents" for slandering American workers. By mid-week, McCain found a convenient - if unconstitutional - target for his rage, SEC chairman Chris Cox.
Bargaining. His response mocked as incoherent at best, McCain then proceeded to the third textbook phase of grief over the economy: bargaining. As the Kubler-Ross model describes the bargaining stage, "Now the grieving person may make bargains with God, asking, 'If I do this, will you take away the loss?'"
So, fast and furious, McCain started to bargain. Acknowledging that as President he couldn't fire the SEC's Cox, McCain instead called for his resignation. (This morning, McCain cynically offered up New York Democrat Andrew Cuomo as a replacement.) Within 24 hours, he changed his tune on AIG, now supporting the bail-out package he opposed just the day before:
"The government was forced to commit $85 billion...The focus of any such action should be to protect the millions of Americans who hold insurance policies, retirement plans and other accounts with AIG."
And to be sure, McCain bargained economic surrogate and serial embarrassment Carly Fiorina right out of his campaign. When the details of her massive $42 million severance package from HP became public, the woman who deemed McCain incapable of running a company found herself on the sidelines.
Depression. By last Thursday, a pall of gloom hung over McCain as he entered the fourth stage of grieving, depression. In a move that could only draw attention to his own checkered past in the savings and loan scandal of the 1980's, McCain meekly proposed the creation of a Mortgage and Financial Institutions (MFI) trust to help the failing firms of Wall Street fend off insolvency. Ironically, McCain had repeatedly opposed the Resolution Trust Corporation in the past, an institution that ultimately poured $400 billion into bailing out the S&L's, including the $3 billion lost by McCain sugar daddy Charles Keating's Lincoln Financial.
That same day, McCain tried to fight back, but his heart wasn't in it. In a foreboding ad fraught with racial overtones, McCain tried to link Obama with former Fannie Mae chairman Franklin Raines. While the Washington Post quickly debunked the spot by noting that Raines is not an adviser to the Obama campaign, Time suggested McCain was playing the race card.
Acceptance. By today, it was clear that John McCain had reached the fifth and final stage of grieving over the economic issue. Just one week after proclaiming the "fundamentals of our economy are strong," McCain said on the Today Show this morning:
"We are in the most serious crisis since World War II."
That clarity is letting McCain do what McCain does best - attack. In a cynical attempt at misdirection the Politico's Jonathan Martin deemed "tossing more chum overboard," the McCain campaign aired a new ad once again trying to connect Barack Obama to Chicago dealmaker Tony Rezko. And on Sunday, McCain ignored his own week of dizzying incoherence on the economy and thundered at Obama:
"At a time of crisis, when leadership is needed, Senator Obama has simply not provided it."
Apparently, John McCain's new-found acceptance of the dismal state of the economy lets him rage against the Obama machine without embarrassment. After all, McCain's transition manager William Timmons was a lobbyist for Fannie Mae and Freddie Mac. This morning, the New York Times revealed that McCain's campaign manager Rick Davis pocketed $2 million in lobbying fees from the failed home mortgage giants. And on Sunday, McCain refused to rule out that his adviser and UBS vice chairman Phil Gramm, of "nation of whiners" fame and himself a possible bailout recipient, as Treasury Secretary in a McCain-Palin administration.
To be sure, watching John McCain wrestle with his demons - and ignorance - over the troubled economy has been painful to watch. As crypto-conservative columnist George Will put it:
"John McCain showed his personality this week and made some of us fearful."
But with his 11 houses and 13 cars, John McCain can afford to work through his cognitive breakdown over the state of the broken economy. Unfortunately, the rest of us can't. While Americans are mourning the loss of their homes and savings, John McCain is apparently grieving over his potential loss of the White House.
(This piece was crossposted from Perrspectives.)
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Dang...does that mean I'm not gonna get that 300 million for the car battery I just invented?
Nicely done, Jon.
McCain's mental state ought to be fair game in this campaign. And it isn't just his age. He has a long history of instability and anger management issues.
Get your John McCain NOPE T-Shirts & Stickers today!
"To help out McCain" -- prime directive of BushCo...in Iraq, on the bailout...
Crony First
We all know that McCain is mentally unstable. He had to sell his soul, and give up half a brain in order to continue the trend of Republican politicians.
Right now I'm listening and watching Sen. Obama taking questions from the media primarily on the economy. He already looks and sounds like a president. As I listened to him I realized he is so far out ahead of McCain when it comes to the economy and the problems our country has overall. Damn, we have to elect this man!
I knew McCain was unstable when he picked Palin. By putting a religious zealot of dubiuos character on the ticket, he proved to me he is unfit for command.
Can Stupid be cured with a 12 step program?
Ooops...never mind...GW Bush.
Carry on.
Theres another Hearing today too....
Senate: $13 billion in American aid was embezzled ...
--> Some of the money actually made its way from the Iraqi Defense Ministry to 'Al-Qaeda in Iraq.
http://dpc.senate.gov/dpc-hearing.cfm?A=47
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/22/AR200809...
Even though it's hard to know
Just how the story ends
The road is long and it takes its time
On that you can depend
this is ron paul (short video clip). paul was asked to support/endorse mccain by lindsey graham. paul said
he couldn't support someone who thought bombing
iran was funny.
http://thinkprogress.org/2008/09/18/paul-mccain-bomb-iran/
P.D. @ 6:
I agree. His choice of Palin showed us he doesn't give a damn what would happen to our country, should something happen to him. She was nothing more than an attention grabber for him. Obama refused to do those silly town hall meetings with him so he needed something new and shiny to draw attention to himself.
Quoth he "I lost touch with the principles of economics when I was a POW for 51/2 years."
seriously, that man needs a $300 haircut...
remember this gem....this told me a lot about mccain.
this is mccain saying he is well versed in economics
after saying he wasn't
http://www.youtube.com/watch?v=_OunCv-7qvA
Once I got to your claim that opposing the bailout for AIG constitutes a "head-in-the-sand" approach, I knew that there wasn't anything here for a non-rabid-partisan to see.
Stop hurting America.
pissed@10, What really upsets me is that some women I know have no idea what her record is! When I told them while she was mayor her district charged victims for their own rape kits, they were infuriated. I told them look at her record very closely. The more they learn, the more they dislike her.
constituent @ 13:
So who the hell are you going to believe - the War Hero(TM) John McCain or your own lying eyes and ears?
He was a POW you know...
John McCain has been the victim of torture. As a physician, I am familiar with literature that victims of torture suffer permanent brain damage as a result of the torture. I believe this places him at higher than average risk for dementia than someone with similar health problems at the same age. He needs to release his full medical records to the voting public. If he is not in top shape, we, the people, risk having a second president not playing with a full deck while in office, and I'm not even talking about GWB.
The pathetic geriatric frat boy sees the white house as a prize and something he's entitled to. He's made it perfectly clear in all he does that nothing matters except john mcsame getting what john mcsame wants.
Exclusive: Maliki suggests BUSH pushed to extend U.S.
presence in Iraq to help mccain
http://thinkprogress.org/2008/09/23/maliki-bush-mccain-iraq/
P.D. @ 6:
If he thought it would make him President...he'd put Barney the dog on the ticket.
McCain is only thinking one thing...this is his last shot. He doesn't give a shit about the country or even his legacy. All he cares about is winning.
He's probably got some kinda "gotta beat out my old man" issue, just like George.
P.D. @ 15:
Good for you and keep talking. Some of my fellow females embarrass the rest of us with their blind uninformed support for Palin, simply because she's a woman.
P.D. @ 15:
a concerned/curious person can learn plenty about Palin
if they weren't lazy......some people don't want to
learn the truth about palin. it might ruin the party.
constituent@19, How immoral. They accuse Democrats of being unpatriotic, and then Bush uses our own soldiers as political pawns? WTF? I didn't think Bush and his cabal could sink any lower, then they prove me wrong.
Liberal AND Proud @ 7:
W never did a 12 step. He would be what is referred to as a "dry drunk". Someone who has stopped drinking, but never dealt with the underlying reasons for why they were drinking. Oh, you also never have to say you're sorry, admit you were wrong, or make amends when you are a dry drunk. Sound like W?
katy @ 12:
To go along with his $500 shoes ... and Cindy's $300,000 dress ...
Liberal AND Proud @ 20:
McCain is the Reublican nominee; becuase, he is old and feeble; therefore easy to control. Palin is on the ticket; becuase, she is a dumb little girl that slept her way into being governor.
I have been listening to the radio and reading what I can, when I can, and it looks very much like the repugs are working very hard to hang this mess around the necks of the Dems, who supposedly control Congress, and also drag Obama down with them (damn the rest of us or the health of the economy: GOTTA WIN! GOTTA DOMINATE!).
October Surprise, anyone?
(Oct Surprise or not, anybody who votes for McCain and by extension the GOP is still a complete and utter idiot, but I am preaching to the choir here)
John McCain has been the victim of torture.
Maybe he is the Manchurian Candidate
Fanon @ 24:
mccain's father was an alcoholic
Paul Haupt @ 17:
The only links between torture and physical brain damage in the literature are those where the torture involved traumatic brain injury. McCain hasn't claimed that such happened to him, so your specific argument is hogwash.
I don't disagree with the conclusions, however. I just happened to have gotten there without any BS.
Ewwww, Palin is so white trash, she's disgusting. Thing she wears the same underwear two days in a row?
upchuck @ 26:
*Ding!*
The GOP and their benefactors sho' do like their hand puppets, as they have shown us for three repug preznits in a row.
Liberal@20, I think you tapped into something. McCain's father was a respected military man. John on the other hand was a hellion who was at the bottom of his class. Shades of Bush indeed.
JTM @ 30:
Really? So depriving someone of oxygen wouldn't cause brain damage without a TBI? Talk about BS.
“At a time of crisis, when leadership is needed, Senator Obama has simply not provided it.”
But...but...when Obama showed leadership during his European trip, McCain got all over him as presumptuous and pretending he was president already. Can't have it both ways--unless the electorate is as dumb as he thinks it is.
Explain to me why the taxpayers must bailout the poor investments made by major banks and investment houses. These are losses on their balance sheets of their own doing. Just because other institutions won't buy up the bad debt on the secondary markets, doesn't necessarily mean that there's no money in the system. It just isn't located with the major players. I agree with McCain's first hunch and that is to allow these companies to fail. This congress is not responsible for saving these companies. I believe the threat of the major brokers disintegrating is actually filled with positivitiy. We will restructure the system in a careful way (opposed to a rushed bailout in which the endgame is unknown), the bad seeds will be removed from the good seeds, and most importantly a huge lesson in economics will be learned the world around that greed and corruption will only lead to failure.
Just spent 5 hours listening to the Senate Banking Committee hearing . . . followed by a few minuts of progressive talk radio. A problem facing Barack (if I can correctly summarize) is this: McCain evidently is going to jump on the bandwagon castigating all those nasty, greedy Wall Streeters who got us into this financial mess (with the aid of the de-regulating Congress Critters who kowtowed to Bush). Main-Street-America shouldn't have to tote the baggage for these criminals. (This is sure to make big-time points with 75% of the electorate.) What can Obama do? He can support the bail-out (from everything I've read it SEEMS imperative to prevent a depression). He then becomes the anti-christ in the eyes of the electorate--what an elitist! If, however, he OPPOSES it (like McCain does) . . . there is time enough for the bottom to completely drop out of the market . . . and who do you think will get blamed? Not senile old white man . . . Obama needs to tread carefully to avoid this nasty (Republican orchestrated?) Catch-22.
Bonkers @ 27:
i noticed the same thing. they're using this as a political
strategy. the public has NO idea that this problem came
up several times before but the #109 congress and the BUSH administration ignored the concern. this congress has been in session what less than two yrs. and has a
paper thin majority. when you have time look at the
record number of filibusters in congress#110. they love to say this congress is at fault....well in fairness they couldn't do a whole lot. the BUSH administration was involved in this as was phil gramm and alan greenjeans.
Fanon @ 34:
His claim was that the link was in the literature, foo'. Show me the paper I missed that discusses torture and brain damage via some route other than TBI.
I still find it interesting that republicans didn't want
john mccainIII in 2000..NOW he has all the answers.
After 8 years of Bush, voting for McCain is like changing seats on the Titanic.. For the just curious --$700 billion dollars laid end to end is roughly enough to go to Mars----and back. If you laid them down at 1 per second it would take about 22,200 years nonstop.
constituent@40, LOL! Remember when the Repugs backing Bush said McCain was crazy after his POW years? Or that he had an illegitiment black child? Or how they slammed Cindy for her drug addiction? My, my, my.. They seem to have short term memories don't they?
JTM @ 39:
Gee, how about waterboarding?
Just imagine all of Palin's meth addicted, puppy-popping, illiterate white trash kids sucking down lines and knocking back six packs of Mickeys in the White House. It will make the days of the twins look truly halcion.
Uber @ 31:
Ok. That was simply an image I didn't need.
Uber @ 44:
LOL.
Fourth of July McCain White House Barbecue
Menu
Presidential Moose Burgers
Freedom Fries
VP Foot Long Hot Dogs
Events
Easter Bunny
Moose Field Dressing lesson
Truck & Tractor Pull
http://query.nytimes.com/gst/fullpage.html?sec=health&res=9404E4DE1039F9...
Or you could start here....
My comments keep disappearing
This old fool's non-answers are indefensible. The last few days have been so horrible for Grandpa that even Dennis or Johnny2bad haven't come to his defense. Obama should continue to mercilessly beat McFraud down on the economy.
My comment at 47 was to JTM@43
Looks like the neocons have been planning the Bail- Out scenario for months. Surprised?
The White House, 2010...
Track returns from Iraq and gets Cindy “Pill Head” McCain hooked on meth. He makes a sex tape of himself giving Cindy some white trash lovin’ and it's widely circulated on the net.
Bristol relapses and snags Cindy’s oxycontin supply during her new pregnancy resulting from late night meets with Trent Lott and proceeds to give birth to another Downs Syndrome baby...
Where do you get the 11 houses? I followed the link but only see a maximum of 10. I'm all for McCain bashing, but seriously, don't provide a link that belies the assertion.
John McBrain @ 53:
It's not really a house. It's more like a cottage.
Alzheimer McLiar is losing it quickly with all his flip-flopping of every subject. Wake up America, he is the worst, incompetent person, for Prez. along with his totally inexperienced VP sidekick.
Although the historically low congressional approval ratings reflect the truth of the larger picture, a recent poll indicates people blame Rs 2-to-1 over Ds for the current financial turmoil.
http://www.cnn.com/2008/POLITICS/09/22/cnn.poll/
In any case, since it's helping Obama, I'll take it. :)
Left&Left @ 49:
That doesn't matter. An indefensible position can be made so simply by saying it is good. That's all small minds need. Wala, its good. After that, it's "we said so, how the hell can anyone say otherwise?" Just like the other day when McCain was caught with his pants down and it was pointed out to him that Carly Fiorina took HP into the trashpile, got 20,000 individuals laid-off, and walked away with a 40 Million plus golden-parachute, which he was denouncing others have and as they related to the new economic mess.
What did McCain say to prove that she is not like the others who took golden parachutes, although she did but was one of his advisors. He said she did a good job. That's it. Period. Therefore, because he said so, she is now off limits for discussion. And the small minds continue to exist cluelessly on their merry ways.
Limp-Dick Blimpaugh @ 55:
He's gonna start havin' flashbacks!
"Mayday! Mayday! I'm goin' down....I'm goin down!"
"oooh...yellow people...I surrender!"
Watch people. I see the trolls are back, after disappearing for awhile.
I served with McCain in Viet Nam for a couple of days. Some really bad days that went on for me a little longer.
I can say that in fact McCain suffers from PTSD. He is unable to control his anger. This causes quick, poor decisions. I saw what he saw those days. I have PTSD because of those days. I've not been able to work since the Iraq war started, just like Viet Nam in my mind, because I have suffer from rage and poor judgment.
So don't give ME this shit about over reaching on McCain's brain. I KNOW IT IS DAMAGED, PTSD does both physical and mental damage.
Dave
Viet Vet
Man...with this crisis spiraling out of control...his campaign spiraling out of control.
MAN! I am getting really optimistic that McCain WILL lose bladder control.
You already have 11 houses John McFudd. You don't need the White House.
10 or 11 houses, 13 cars, McBush doesn't know. How the hell can he be even allowed four more years to ruin what is left of America, with his absolute ignorance of our economy and not knowing what the hell he is talking about at any given moment?
Superbly done!
Poor Grandpa...and he was just starting to be able to deal with the fact that the wood in his drawers has turned to lead.
Someone play some loud sound effects of a plane being brought down by AA fire during McBush's next press conference and see if his little arms start flapping and he pees his pants.
Does McBush wear diapers? When he loses his temper does he have wet farts?
Uber @ 52:
That made me laugh so hard that I spat coffee all over my keyboard
Dear Mr. Mc-A.I.G.-n: Please find a shuffleboard court in Arizona or Florida and STAY there.
Thanks for nothing.
Cordially,
Kilgore Trout
Interesting thought about this bailout plan. The government would aquire vast quantities of questionable mortgages (presumably at a discount...hopefully a steep one). But this vast number of mortgages would pose a vast management challenge...all those accounts, documents, etc. Who would manage that?
Also, if numerous people continue to default on their mortgages then the Federal government would have to foreclose on and evict American citizens. Charming. Not to mention the fact that a mortgage holder invariably takes an enormous bath on a foreclosure IF they can sell it all.
I'd love to see the details on how the default risk is being incorporated into the bailout plan as well as the governments plan for all the properties it is stuck with.
Well PADebbie both my senators and my congressman are all three republicans.
Whenever I have warned them about the up and comming crisis I get letters back with republican talking points never anything but lies and obfiscation. They never listen and they never tried to change anything.
If you would take your partisan hat off you might be able to see you were sold a bill of goods, just a few honest words used fraudulently for the purpose of making low information voters, vote republican. Not so they could go to washington to do the right thing but so they could do what they have done. They told you about it and you would not listen when they said they wanted to make the government small enough to drown it in a bath tub. You didn't even realize they were talking about you did you?
Our government is supposed to be, of, for, and by the people.
They would like to drown you! Remember that when you go to vote republican.
He's the wrong man at the wrong point in time for the wrong position based on the wrong decisions he's made for all the wrong
reasons.
Some posters warned that this bailout is a 'Catch-22' situation for Obama. I think he can avoid that if he sticks to his guns on oversight, regulations, and honest debt-relief for the home owners that were raped (yes, raped -- rape isn't only about sex it is about power and control) by the predatory mortgage lenders. This plan will never pass the Chimp-in-Chief's desk with adequate oversight, regulations, and debt-relief attached. Then we can leave this steaming pile of feces on the door steps of those who brought it to us: Bush, McCain, Graham, and the rest of the corporate raiders of the national treasury.
"The dead have risen and they're voting Republican!" -- Bart Simpson
If McCain makes it to the White House, I have a sinking feeling that the internet will be in for some nasty changes. I mean, they have taken our money, our jobs, our houses, what's next?
The only possible upside from this latest fruit of the poisoned shrub approach to uncontrolled markets is that it will cause folks to focus on substance more than they otherwise might have. Some, obviously, will never survive the onslaught of smears and lies from their right wing radio buddies, but the attention and sense of urgency among the swing voters may now get the message.
Our country's future just cannot be handled by "The Beauty and the Beast."
Jo @ 73:
I suggest you guard your genitals.
P.D. @ 6:
Yep, he really is unstable. And as you note, unfit for command. This is just ONE more example of his inability to lead. Give up, old man! You're just not up to it...
Suck it up McBush. You're gonna lose. My friends, the time of our rejoicing is almost upon us. Repeat after me - Barack Obama is going to be the next President of The United States. Post it on every blog on the planet.
BARRACK OBAMA IS GOING TO BE THE NEXT PRESIDENT OF THE UNITED STATES.
Republicans and their supporters are domestic terrorist. Talk about how horrible our government is and push legislation to deregulate and dissemble it.
Military- hey lets hire mercenaries so we can have the private sector do the governments job better. Then claim to be for military.
Economics- Lets deregulate and give welfare support (tax incentives)for companies, they have our interests at heart. When things go bad, well ask for accountability from a few people and sweep the rest to the media bias.
Diplomacy- bomb bomb bomb, then ask questions, who cares what foreigners think. If they attack us it's for no reason at all.
Social programs- insert legislation that handicaps it so it don't work- see government does nothing for us.
Real patriotism- Criticizing Republicans is bad for America, Democrats are evil they are always wrong even when they are right.
Spirituality- God bless America and no one else.
Morals- No on abortions- Yes on death penalties, No on gay marriage- but we elect gay representatives, Lie to get elected, make stuff up about out opponent
Debate- Say whatever to make a point, then stick to your guns until you have to back step, then deny you ever said it.
Media- say it is biased toward liberal views because following Republican dogma trumps open questions, because open questions are liberal.
Logic- They do not have that.
I continue to be lost and confused by Mr. McCain. It seems he just waits a week, then begins saying everything that Obama said the week before. First, Obama began with the idea of "Main Street over Wall Street". This week, McCain is using that catch phrase. Second, at the onset of the latest economic breakdown, Obama said that he was going to wait for the details of the government plan to come out before releasing his own. Because of this, McCain ran an ad saying that Obama was nowhere to be found when it was time to lead. Then, today, McCain says he wants to wait to see the specifics of the plan before he publically agrees or disagrees. Similarly, McCain stated last week that the fundamentals of the American Economy are strong while Obama stated that the economy was in a crisis situation. This week, McCain is saying that the fundamentals are at risk and that this is the worst economic crisis since World War II. I'm to the point where I know I don't have to keep up with the current happenings in politics because McCain is just going to regurgitate whatever Obama has said recently anyway.
McCain's going to give himself a stroke if he keeps this up. He has taught me to dispise the wretched man that he is, but I am becoming worried for his health. His increasing confusion and irrational behavior makes me think he should get an MRI, and do it soon. Something is not right with his brain.
http://americanresearchgroup.com/economy/
the democrats have clearly failed to correctly tie mccain to bush.
Karen Marie
I feel that the Republicans, or anyone else for that matter, have failed to correctly tie McCain to a rational, logical thinker.
What is really scary is that there are people out there who actually believe McCain and that the press is a bunch of liars. They will put this country at risk is just so very sad. McCain showed his judgement when he picked moose momma.
I don't think at this point it is even necessary to tie McCain to Bush. He is doing a great job of making himself look incompetent without the help of Bush.
Obama and Biden better work overtime to attach McCain's to the crisis through his role in the Keating 5. Get brutal on his Depends-cradled ass.