Perhaps one of the greatest political catch phrases of all time is “It’s the economy stupid”, which Bill Clinton used against G.W.Bush’s father and subsequently went on to win the election. The rest is American history, recently many have been upset after John McCain’s top economic advisor said America is “a nation of whiners.” He claims we are in a mental recession, and not an actual one, McCain has since distanced himself from his economic advisor. While his economic advisor statement maybe vaguely true in many areas, Americans are paying more for gasoline and other expenses. I don’t think its in my imagination that I’m paying $4.10 a gallon for gas every time I go fill it up. Meanwhile yesterday, IndyMac Bank became the second largest financial institution to close in US history. That’s pretty bad news for customers with more than $100,000 at IndyMac, since the federal government only insurances deposits up to $100,000.
As usual to allow my readers to have an unbiased version of the stories I’m talking about. I encourage you to read the article on “the mental recession” for yourself.
Lastly, today its Gayathri’s twenty birthday so don’t forget to wish her a Happy Birthday and a wonderful day 🙂