What Right With John McCain?

He's a war hero, I think, and he's somewhat honest. However, he seems to think that having a bunch of Republican retreads hanging around his auditory canals, whispering more of the discredited nonsense into his head is just perfect. It is not. Case in point: he has an economic advisor named Donald Luskin. We may see the depth of Mr. Luskin by the following in which he banishes the fear of recession by observing that Disneyland was packed while he was there. He seems to forget how well fantasy and entertainment do in bad times. They certainly did relatively well in the Depression and WW II.

http://www.smartmoney.com/ahead-of-the-curve/index.cfm?story=20080808-disneyland But his record speaks for itself. At Cunning Realist:

http://cunningrealist.blogspot.com/2008/05/yeah-that-worked-out-well.html

Wednesday, May 14, 2008 Yeah, That Worked Out Well ...January 18, 2008: I admit that I've been very wrong. I've been saying to buy stocks all the way down since the October highs. I was wrong. I repeat: I was wrong... The stuff before this high point is more of the same nonsense. Furthermore, during that goofy discussion with Pastor So-and-so where McCain was supposed to have been secluded and not aware of Obama's responses...only McCain was not secluded...whatever that means...McCain said that one of the 3 people he would take advice from was some lady who founded eBay.

Just as information, the founders are dumping their own eBay stock as fast as possible:

Insiders Bailing As Fast As Possible

Margaret Whitman is bailing as fast as humanly possible.

See: http://globaleconomicanalysis.blogspot.com/2008/08/ebay-cuts-fixed-price-fees-by-70.html

in Mish's Global Economic Trend Analysis.

I am not saying that one should not jump off a sinking ship. However, I am saying that there is a big difference between the long-term economic wisdom for running a country - for the present day citizens, for their children, and for the future grandchildren - and a business like eBay which can hardly be considered a paradigm anymore.

It was only a paradigm while the Bubble still had not burst...back in 1999 or thereabouts. Premillenial stuff.

I am looking forward to more Republican economics.