Thinkprogress:
Sen. John McCain (R-AZ) continues to insist that the “fundamentals of our economy are strong.” As Eric Rauchway notes in the American Prospect, McCain’s response to this economic crisis is reminiscent of President Herbert Hoover’s “do-nothing” response to the Great Depression. On October 25, 1929, a day after what is now known as Black Thursday, Hoover declared:
The fundamental business of the country, that is the production and distribution of commodities, is on a sound and prosperous basis.
Herbert Hoover ushered in the Great Depression as President back in 1929. Roughly 80 years later, sel-professed economically illiterate presidential candidate John McCain follows closely in Hoover's footsteps as he attempts to address the current Wall Street meltdown. Some things never change ;^). Check out video:
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