SMRs and AMRs

Saturday, July 12, 2008

Feeling No Pain

By BOB HERBERT
NYT

A pro basketball player named Micheal (yes, that’s the way he spells it) Ray Richardson once famously said of the New York Knicks franchise: “The ship be sinking.”

When a reporter asked him how far it could sink, Richardson reportedly replied: “Sky’s the limit.”

Something similar might be said about today’s economy, although Phil Gramm, a remarkably out-of-touch former senator from Micheal Ray’s home state of Texas, would beg to differ. You may have lost your job or the family home. Or maybe you’re behind in your car payment or your health insurance premium. Perhaps you can’t afford the gas to get to work.

Phil Gramm will have none of your complaints: Get over it! Stop whining and eat your gruel. This recession’s all in your head.

No one (not even John McCain, who tended toward the rapturous when describing Mr. Gramm’s economic bona fides) could mistake this sour-visaged investment banker for a populist.

(Continued here.)

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