US Republican presidential candidate John McCain has rejected the view that the US is in decline as the country faces economic turmoil.  

"I reject the doom and gloom that says our nation is in decline. America's best days are ahead of us," McCain said in a visit to a factory of US car manufacturer General Motors, in Lake Orion, Michigan.  

Earlier, the Arizona senator made similar remarks, saying that, "Our economy I think, still, the fundamentals of our economy are strong, but these are very, very difficult times."

McCain: US Is Not In Decline 

Yep, things have never been better in the land of frankenstein finance ….. 

- decades of wealth transfers to the rich;- the economy in recession;

- multiple imploding bubbles: housing, mortgage finance, & an alphabet soup of SDOs, SIVs, SPVs, & a whole menu of levered-up, high-risk securitized assets amounting to financial alchemy; largely outright fraud;

- the risk things may worsen;

- from drowning in debt & speculative excess;

- bankrupt by some measures;

- huge amounts of corruption;

- government hiding how bad it is; complicit in it as well;

- over one million homeowners foreclosed since summer 2007;

- another million homeowners are 90 days past due on payments; foreclosures about to go out on them;

- three million more potentially in coming months with up to five million total at risk over the next few years in the worst housing crisis since the Great Depression & too little government help provided too late;

- rising unemployment;

- failing banks;

- rising inflation;

- consumers maxed out on credit & strapped by indebtedness;

- industrial employment ravaged by neo-liberal "free trade" & corporate outsourcing;

- malls replacing factories as the economy's engine;

- declining wages in the face of soaring expenses;

- a new Gilded Age exalting greed;

- making the country "perilously dependent" on foreign capital sources for economic security;

- sinking markets from a "full-blown credit/debt crisis;"

- "waves of layoffs," bankruptcies & foreclosures;

- distorted media coverage on causes and solutions;

- fear that the worst is ahead;

- trillions of dollars being lost;

- Ponzi schemes writ large; the bigger they are, the harder they implode; what PIMCO's Managing Director & economist Paul McCulley calls a "Minsky Moment" that derives from economist Hyman Minsky's analysis; the unwinding of excess exuberance; deflating euphoria; proving market bubbles always burst & their downward momentum is far more severe & faster than their upside; &

- a "calculated crime" putting America & the global economy at risk.

heckava job bushie .....