Home

About
- Who We Are
- Community Guidelines
- Right to Respond

Advertising on BOR
- Advertise on BOR
- Buy on all Texas Blogs

Advertisements

Search




Advanced Search


Gohmert: Democratic Congress, Rep. Murtha Caused Market Drop


by: Cody Yocom

Thu Mar 01, 2007 at 07:29 PM CST


Further proving his idiocy, Rep. Louie Gohmert of Tyler, on the floor of the US House, linked Tuesday's massive drop in the stock market to Rep. Murtha and the Democratic Congress. 

Think Progress has the video from the floor.  Take a moment and go watch it.  Rep. Gohmert doesn't seem to understand that it might be a good idea to vet your comments through someone smart before announcing them to a national stage. 

Here's a copy of the transcript:

GOHMERT: You know, over the last 12 years, the Democrats have been in the minority, Republicans have been in the majority. The economy boomed in the late-90's. We had this tragic event on 9/11. It should have sent this country in a terrible depression, but this Congress, Republican majority, pushed through tax cuts that has allowed the economy to rebound and be robust and provide jobs and better standard of living. And in two months of talking about raising taxes and more regulation and we are not - one committee chairman talking about how he's going to undermine the President's national security policy - two months! - we have this terrible damage to the stock market, to the economy. Unbelievable. They were saying last night on the news that this is the biggest drop since 9/11. In two months of talking about all these new plans, we are going to cost people jobs. I just encourage my friends across the aisle, be careful. We built a great economy. Don't blow it quite so quickly.

Most analysts, who bothered to read books and articles and some of that hard stuff, have linked Tuesday's stock market drop to the Chinese market, to Alan Greenspan's comments, and, well oil prices that continue to fluctuate due to instability in the middle east. 

Louie Gohmert is the worst kind of congressman: smug, uninformed, totally partisan, and uninterested in working for the greater good if it doesn't in some way score political points for him and against his opponents.  East Texas deserves better. 

Update: Louie Gohmert was named to Keith Olbermann's Worst Person in the World countdown.  Gohmert was identified as the "Worser" person of the day for his idiotic comments, bringing the silver medal all the way back to District 1.  We're all so proud.  Here's the link. 

ADVERTISEMENT
Tags: , , (All Tags)
Print Friendly View Send As Email
You have to wonder if Governor 39% (0.00 / 0)
got the report before the November election but thought re-election was more important than protecting Texas youth.

The Yen Carry Trade (0.00 / 0)
A significant part of the downdraft is caused by hedge fund money that has been borrowing yen with almost zero interest rates and then investing in higher yielding currencies like the US Dollar and USD denominated investments.  That does expose them to exchange rate risk, and there is a self-reinforcing effect as the hedge funds unwind huge yen positions requiring asset sales like US stocks (they have to sell stocks to get dollars, which they then have to convert into yen - the old supply and demand thing holds for money just like everything else - supplying more dollars and demanding more yen).

Connect With BOR
Your source for Texas politics.

On Facebook: BOR
On Twitter: @BOR
On the Go: Mobile App

Upcoming BOR Events

"Do I Look Illegal?"
Arizona GOP Debate Watch

Wednesday, February 22
6:00-9:00 p.m.
Angie's Restaurant
1307 E. 7th Street
RSVP on Facebook

Save The Date:
Super Tuesday Super Watch Party!
Tuesday, March 6
6:00-10:00 p.m.
Scholz Garten
1607 San Jacinto



Menu

Make a New Account

Username:

Password:



Forget your username or password?


Shared On Facebook

Advertisement

Best of Texas Left
- (Complete Directory)
- B & B
- Bay Area Houston
- Blue Bloggin
- Bluedaze
- Brains and Eggs
- Capitol Annex
- Collin County Democrats
- Collin County Observer
- Community Forum
- Dog Canyon
- Dos Centavos
- Easter Lemming Liberal
- Eye on Williamson County
- Feet to the Fire
- Grading Texas
- Greg's Opinion
- Grits for Breakfast
- Half Empty
- Houtopia
- In the Pink Texas
- Kiss My Big Blue Butt
- Letters from Texas
- McBlogger
- Mean Rachel
- Musings
- North Texas Liberal
- Off the Kuff
- Panhandle Truth Squad
- Para Justicia y Libertad!
- Pink Dome
- San Antonio Mayor
- South Texas Chisme
- StoudDemBlog
- Texas Clover Leaf
- Texas Kaos
- The Caucus Blog
- There..Already
- Three Wise Men
Best of Texas Right
- Blogs of War
- BlogHouston
- Boots and Sabers
- Lone Star Times
- Publius TX
- Rick Perry vs the World
- Safety for Dummies
- Slightly Rough
- Urban Grounds
Other Texas Reads
- Burka Blog
- D Magazine
- DOT Show
- Statesman Elections
- Strong Political Analysis
- Texas Monthly
- Texas Observer
- The Texas Blue
- Quorum Report Daily Buzz
Around Austin
- Austin Bloggers
- Austin Chronicle
- Austin Contrarian
- Austin Metblogs
- Austin on Two Wheels
- Austin Real Estate Blog
- Austin Statesman
- Austin Texas Bike Shit Stuff
- Austin Towers
- Austinist
- Capital MetroBlog
- Daily Texan
- Do512
- Downtown Austin Blog
- East Austinite
- Elise Hu
-
Flash Mob Austin
- Keep Austin Blue
- M1EK
- Travis County Democrats
- University Democrats
TX Progressive Orgs
- ACLU Legislative Blog
- Atticus Circle
- Criminal Justice Coalition
- Equality Texas
- NOW Texas
- PFAW Texas
- Public Citizen
- SEIU Texas
- Tejano Insider
- Texas AFT
- Texas HDCC
- Texas Watch
- TFN
- TSTA
- TSEU
- Texas Young Democrats
- United Ways of Texas
TX Elections/Returns
- TX Returns 1992-present
- TX Media/Candidate List

- Bexar County
- Collin County
- Dallas county
- Denton County
- El Paso County
- Fort Bend County
- Harris County
- Jefferson County
- Tarrant County
- Travis County

- CNN 1998 Returns
- CNN 2000 Returns
- CNN 2002 Returns
- CNN 2004 Returns
- CNN 2006 Returns
- CNN 2008 Returns
Traffic Ratings
- Alexa Rating
- Quantcast Ratings
-
Syndication

Powered by: SoapBlox