Palin Says Another Great Depression Is Possible

NEW YORK — Republican vice presidential nominee Sarah Palin says the United States could be headed for another Great Depression if Congress doesn't act on the financial crisis.

Palin's comments came in an interview Wednesday with "CBS Evening News" anchor Katie Couric.

Asked whether there's a risk of another Great Depression if Congress doesn't approve a $700 billion bailout package, Palin said: "Unfortunately, that is the road that America may find itself on."

Palin said the answer to the financial crisis doesn't necessarily have to be the bailout plan that the Bush administration has proposed, but should be some form of bipartisan action to reform Wall Street.

Comments

[diahni]

I wish somebody had the time to compare the literacy level of pro vs. negative comments about McCain and Palin. Certainly, there must be millions of either out there in cyberspace. I'd put lots of money on the fact that the "Party of Lincoln" has become "The Party of the Uneducated, Inarticulate and Just Plain Dumb." Poor old Abe would roll in his grave. Will somebody please tell me when being well-educated and well-spoken became "elitist"? I just saw the Palin/Couric interview. Wow! Gov. Palin cannot even speak in normal sentences. She could not give one example of McCain being a "maverick," and continues to insist that living near Canada and Russia gives her "foreign relations" experience. That she could be president of this great country is shameful. Our founding fathers were all "East Coast Elitists." If Obama is an elitist because he graduated on top of his class at Harvard Law School, never mind had the coveted position of heading the Law Review, then great! We deserve a president with a profound knowledge of the Constitution. I wonder if McCain or Palin have ever read it. (Btw, it is one page long, which is one and a half pages shorter than the Paulson report on the debt bailout details.) By his own admission, McCain has not read the report, either. Shameful morons, I say.
When did the American people get so stupid to back these people?

[kirby66]

Palin had not used the term when Couric asked Palin: “If this doesn't pass, do you think there's a risk of another Great Depression?”

Palin's reaction, IN FULL:

Unfortunately, that is the road that America may find itself on. Not necessarily this, as it's been proposed, has to pass or we're going to find ourselves in another Great Depression. But, there has got to be action taken, bipartisan effort, Congress not pointing fingers at this point at one another, but finding the solution to this, taking action, and being serious about the reforms on Wall Street that are needed.

That's MSM for you! Twist and scramble so that it makes OB look better. I have to say that if Obama is the answer, it must be a stupid question!!

[Pendragon2008]

The point you're missing is that this country is already well on the way to a Great Depression, with or without this bailout. No-one can say how this will actually help the taxpayer at all - it helps the banks, who might as well take the money and go put it in offshore accounts or foreign currencies because they're informed enough to understand economics and what's coming. They knew full well what they were contributing to; so did Bush, Bernanke and Paulson.

"Speculations in the 1920s caused many people to by stocks with loaned money and they used these stocks as collateral for buying more stocks. Broker's loans went from under $5 million in mid 1928 to $850 million in September of 1929. The stock market boom was very unsteady, because it was based on borrowed money and false optimism. When investors lost confidence, the stock market collapsed, taking them along with it."

Does that sound familiar? Think ANY student of economics wouldn't have seen this coming?

"Short signed government economic policies were one of the factors that led to the Great Depression. Politicians believed that business was the key business in America."

Again, sound familiar?

[jimbeaux1961]

I get "Great Depression" just thinking that this woman actually inspires my fellow countrymen. jeezlaweez

[michael999]

Have a look at this video - it becomes clear that Sarah Palin's beliefs have been shaped by the teachings of her extremist church. At 12, Sarah Palin was re-baptised, together with her whole family, at the Wasilla Assembly of God Church. Palin attended Wasilla Assembly of God Church for roughly two and a half decades.

During that time Wasilla Assembly of God joined an Insurgent theological movement, initially arising with Pentecostalism, weich denounced in 1949, by the General Council of the Assemblies of God, as heretical.

Known as the Third Wave, this movement sees the earth largely under the influence of demon powers.

"Third Wave" believers seek to map out areas of "demonic influence" and drive out demon powers with prayer - from cities, towns and even entire geographic areas.

They also fight what they feel to be rampant human witchcraft.

The Wasilla Assembly of God and its Masters Commission Program enjoy a close relationship with a key Third Wave center, Rick Joyner's Morningstar Ministries.

Wasilla Assembly of God both endorses Rick Joyner's books and and also includes author Joyner's works closely within its Masters Commission curriculum.

Key Morningstar leaders, and other prominent Third Wave figures, frequently visit the Wasilla Assembly of God.

http://www.youtube.com/watch?v=k0utkTp7DTw

[seenitall]

by great, she means really bitchin'...

[truthiness]

The Huffington Post ran the John Edwards affair story from the National Enquirer as a front page story for weeks. Now the National Enquirer is reporting that Sarah Palin had an affair with Todd Palin's business partner Brad Hanson. Why isn't the Huffington Post giving the Sarah Palin affair story equal time? It's from the exact same source, which presumably has the same editorial standards six weeks later. Where's the Palin story????????

[RedneckNOT]

Saw more excerpts of her interview with Katie Couric ... Sarah Unscripted = SCARY. Gov. Palin is either incredibly inarticulate or completely out of her depth. Of course, this may all be a ruse to lull democrats into a false sense of security and the true "october surprise" will be her amazingly articulate, coherent and brilliant debate next week.

[eanderso]

"...completely out of her depth"

BINGO!

When she says Great Depression, maybe she means the effect that the thought of her as POTUS or VP is having on many of us...

[jemiltd]

McCain's move is as transparent as a clean window on a sunny day. He doesn't want to debate Obama on the economy, even though it's fixed on being a foreign affairs debate. Given Palin's vacuous interview with Katie Couric, I can certainly appreciate why his secondary goal is to delay the Friday debate, moving it into the VP debate slot and eliminate the VP debate all together. She is cramming like a high school teenager before the final exam and yesterday all she could do was repeat what she'd memorized, even though it was not in the right context to the question. IF Couric had been a real journalist, she'd have called her on it.

[rkimball]

palin is like a parrot repeating everything bush & mc cain said.

[ezbreezer]

Now I know why McCain picked her. She's an economist! Who knew ????
So many hidden talents.

[CyrusBeaucephus]

Whatever you say Moose-alini, you GOPers created this mess, and now we are supposed to pay for it? Sorry, but I think you should have thought of that before you deregulated the financial sector

Why don't you just pray the problem away?

[Tommygun264]

Poor Caribou Barbie. She tries so hard to parrot McSame's latest talking points, but as he grows more desperate he has started contradicting himself hourly, so she is hopelessly out of step. All she can do is stick to the pub maxim - if it appeals to the worst of human nature, things like fear, self-doubt, the mistrust of others, selfishness or greed, say it. All they have to offer is fear.

[NPA]

Katie Couric should've ask her what she felt about the underlying "fundamentals" of the economy during this time of crisis.

[1differentdrummer]

Rove's "I don't know" translates as "oh no." Why would anyone ask this boil on mankind's backside anything?

[Belisarius]

When asked about her economic background, Palin stated that she could see a bank from her back yard.

[NPA]

Am so gonna use your joke all day at work. Here's one of mine (I live in Florida). I can see the moon from my house can I qualify for the astronaut program? (NASA Florida get it?)

[jemiltd]

OK, that was really funny.