Ed Abraham’s economic analysis on U-K shows the real problem with the average conservative Republican:  they’re completely deluded as to what truly drives the U.S. economy.  Ed pops off for more than two years about its good health, and then conveniently disappears from sight when one slim year later, today’s news proves all his inane predictions and analysis to be delusional – and just plain wrong.  If Ed’s economic insights could be eulogized by Herman Melville, we would see Captain Ahab-ram strapped to Moby Dick, waving a harpoon in his limp, flailing arms, as the great white whale he obsessed about disappears for the final time beneath the ocean surface.

Ed, you’re an economic neophyte.  Face it, dude.

Ok.  Now let’s have some fun and parse out a few gems from the Ed Abraham economic series on U-K, shall we?  Oh, here they are now.  Ed’s quotes are in black, my comments in green:

How Good Is The Economy Under Republican Rule? 3/8/2006

“The current economic situation is a great example of how everything is presented as rosy when a Democrat runs the White House; however, when Republicans are in charge we are alway in a recession, at least to the main stream media and to most Democrats.”

Uh, no, Mr. Ed.  We ARE definitely  in a recession.  And your buddies the Republicans have been in charge for eight years.

“During the campaign of 1999, George W. Bush warned of a teetering economy, that it simply could not go on as it was without an adjustment. He was laughed at by Democrats and was roundly criticized for "talking down the economy". He did, however, take office in the midst of a recession.”

And apparently, this vicious little runt will leave office in the midst of an even bigger recession.

“Even now, our economy in the U.S. continues to hum along just fine. Growth, measured by GDP, is strong any way you slice it. Unemployment nationally stands at 4.7%, which is lower than where it was at the height of the Clinton Administration (when supposedly all was well with the world). Interest rates remain relatively low by historical standards and credit is still easily available. Home ownership is at an all time high, with the growth coming at the low end of the spectrum. That's right, more poor people own their own home than ever before. The actions of President Bush and the Republican Congress turned what could have been an unmitigated economic disaster into an economy that is sound and growing.”

Except when it turned into an unmitigated economic disaster again, less than two years later.

“Don't buy the doom and gloom predictions of those who have their own agenda and have ample reasons to spread their doomsday scenarios.”

People like Alan Greenspan and Warren Buffet, you mean?  They both think we’re in deep doo-doo.

“Indeed, the Great Depression was caused by irrational exuberance like that which dominated the 1990's. Our current president actually put a stop to it and helped usher us all back to reality. Unfortunately, some of us just cannot accept that reality.”

Because it was never “reality,” Ed.  It was only your delusional, ignorant spin-doctoring.

The Economy Sizzles; The Media Ignores It 5/11/2006

“Even in the broader context the economy in the U.S. is going like gangbusters and there is solid evidence that this is due significantly to Bush's tax policy.”

Yes, Bush’s gang is definitely busting the economy.  Can’t disagree with this one.

“Even when good economic news is reported it is virtually always tempered with a "however" along with some prediction of bad times to come. "The economy is growing strongly; however, oil prices could end that at any moment."

Gas is now at nearly 4 dollars per gallon.  The oil companies are reporting record profits.  Bush is one of the most powerful oilmen in the world.  Do the math.

More Voodoo Economics   8/30/2006

“The truth is the economy has been doing just great under President Bush.”

In light of today’s news, five months less than two slim years later, this statement just proves Ed doesn’t have an economic brain in his head.

More Good Economic News   3/9/2007

“Rest assured, though, if things turn south on the economy any time during the next two or three years, even when Bush is long out of office, many critics and members of the media will attempt to tag it on the current president; bank on it.”

Come on Abe, you're still blaming things on Clinton, and he's been out of office for eight years!  Enough with the hypocrisy already.  Besides, the economy has definitely turned south, and we have to suffer through six more months of Chimpy McFlightsuit.  This soon-to-be-looming Depression will have Chimpy's sticky fingerprints all over it.

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Need more laughs?  Read the rest of Ed’s deluded rantings:

The Truth About Tax Cuts            February 13, 2007

Consumer Debt And The Economy      February 25, 2007

Bush And The Economy: Why So Negative?   April 6, 2007

"The Rich Get Richer" Perhaps It's Not So Bad May 3, 2007

Okay, Chuckle-Ed.  Your turn.  Tell us why Bill Clinton is responsible for our current economic woes.

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