Relax, It’s All In Your Head

You thought it was the collapse of your home equity. Or the vertiginous interest rates on your credit cards. Maybe that feeling you get looking at your 401(k) balance — you know, the same feeling you get in your stomach going down that first big hill on a roller coaster?

Phil Gramm has the answer — you’re whining too much.

Yeah. I guess if I were vice-chairman of UBS I wouldn’t be feeling much of a crunch either.

Obama’s mocking response:

And, to his credit, McCain’s:

“I’m not going to retract any of it. Every word I said was true,” Gramm said. A better response on McCain’s part might be to not take this guys economic advice anymore.