http://people.bakersfield.com/home/Blog/timec/28079 The economic news seems to get worse with each passing day&hellip; but it sounds like John McCain may not have heard the news. Here&rsquo;s what he said Thursday in Florida: &ldquo;I have a fundamental belief that, I have a great belief that the fundamentals of our economy are very strong, very strong.&rdquo; Really, Senator McCain? That&rsquo;s not what millions of Americans are saying. A new CNN/Opinion Research Corporation poll shows 78% of those surveyed rate economic conditions as &ldquo;poor&rdquo;. Only 22 percent say &ldquo;good.&rdquo; Here are some of the reasons: The economy lost another 49,000 jobs last month, which means more than 324,000 jobs have been lost since the first of the year. The unemployment jumped to 5.5% last month &ndash; that&rsquo;s the biggest increase in the unemployment rate in 22 years. More and more Americans are losing their homes: one million homes are now in foreclosure. The equity Americans have in their homes-their biggest asset-has declined to the lowest level since the end of World War II. Americans&rsquo; net worth has declined by a staggering $1.7 trillion dollars. Then there are the rising costs of energy. For the first time in our history, gasoline now tops $4 a gallon and is headed higher. Oil traded at a record high of $139 a barrel Friday, with predictions of $150 a barrel by July 4 and Goldman Sachs saying it could reach $200 a barrel within two years. The peak summer driving season is just getting under way. These fuel prices impact the cost of virtually everything else. And, with the nation on the brink of recession, the stock market is taking a hit too &ndash; declining almost 400 points last Friday alone. The U.S. dollar continues to weaken against almost all foreign currencies &ndash; declining 15% against the euro in the last year. We are $9 trillion in debt thanks to the wars in Iraq and Afghanistan and the irresponsible fiscal policies of the Bush administration. And we continue to run huge trade deficits with China. Here&rsquo;s my question to you: Is John McCain right when he says the fundamentals of our economy are very strong? &nbsp; I will be the first to tell you.... I am not a political geek but&nbsp;I do know bull when&nbsp; I read it....Maybe he has Alzheimer's. The economic news seems to get worse with each passing day&hellip; but it sounds like John McCain may not have heard the news. Here&rsquo;s what he said Thursday in Florida: &ldquo;I have a fundamental belief that, I have a great belief that the fundamentals of our economy are very strong, very strong.&rdquo; Really, Senator McCain? That&rsquo;s not what millions of Americans are saying. A new CNN/Opinion Research Corporation poll shows 78% of those surveyed rate economic conditions as &ldquo;poor&rdquo;. Only 22 percent say &ldquo;good.&rdquo; Here are some of the reasons: The economy lost another 49,000 jobs last month, which means more than 324,000 jobs have been lost since the first of the year. The unemployment jumped to 5.5% last month &ndash; that&rsquo;s the biggest increase in the unemployment rate in 22 years. More and more Americans are losing their homes: one million homes are now in foreclosure. The equity Americans have in their homes-their biggest asset-has declined to the lowest level since the end of World War II. Americans&rsquo; net worth has declined by a staggering $1.7 trillion dollars. Then there are the rising costs of energy. For the first time in our history, gasoline now tops $4 a gallon and is headed higher. Oil traded at a record high of $139 a barrel Friday, with predictions of $150 a barrel by July 4 and Goldman Sachs saying it could reach $200 a barrel within two years. The peak summer driving season is just getting under way. These fuel prices impact the cost of virtually everything else. And, with the nation on the brink of recession, the stock market is taking a hit too &ndash; declining almost 400 points last Friday alone. The U.S. dollar continues to weaken against almost all foreign currencies &ndash; declining 15% against the euro in the last year. We are $9 trillion in debt thanks to the wars in Iraq and Afghanistan and the irresponsible fiscal policies of the Bush administration. And we continue to run huge trade deficits with China. Here&rsquo;s my question to you: Is John McCain right when he says the fundamentals of our economy are very strong? &nbsp; I will be the first to tell you.... I am not a political geek but&nbsp;I do know bull when&nbsp; I read it....Maybe he has Alzheimer's. en-us <p>&nbsp;</p> <p>Well, McCain has admitted economics isn't his strong suit. But then he denied he ever said that.</p> <p>Maybe he's talking about UAE's economy.</p> <p><a href="http://www.gulfnews.com/BUSINESS/Economy/10198005.html">http://www.gulfnews.com/BUSINESS/Economy/10198005.html</a></p> <p>&nbsp;<u><b>Is John McCain right when he says the fundamentals of our economy are very strong?</b></u><br /> &nbsp;</p> <p>If you consider less than 2% growth,&nbsp;5&nbsp;straight months of job losses and a 15% decline in the value of the U.S. dollar in the last year to be strong.&nbsp;&nbsp;The enemic growth rate is predicted to continue for the next year or more.</p> <p>In contrast, India's economy is growing by 9% and China's by 10%. Even Russia's economy is growing faster than ours.</p> <p>&nbsp;</p> http://people.bakersfield.com/home/Blog/timec/28079/#c_252953 http://people.bakersfield.com/home/Blog/timec/28079/#c_252953 <p>&nbsp;</p> <p>Well, McCain has admitted economics isn't his strong suit. But then he denied he ever said that.</p> <p>Maybe he's talking about UAE's economy.</p> <p><a href="http://www.gulfnews.com/BUSINESS/Economy/10198005.html">http://www.gulfnews.com/BUSINESS/Economy/10198005.html</a></p> <p>&nbsp;<u><b>Is John McCain right when he says the fundamentals of our economy are very strong?</b></u><br /> &nbsp;</p> <p>If you consider less than 2% growth,&nbsp;5&nbsp;straight months of job losses and a 15% decline in the value of the U.S. dollar in the last year to be strong.&nbsp;&nbsp;The enemic growth rate is predicted to continue for the next year or more.</p> <p>In contrast, India's economy is growing by 9% and China's by 10%. Even Russia's economy is growing faster than ours.</p> <p>&nbsp;</p>