McCain clarifies 'FUNDAMENTALS' as workers, small business. Alzhiemer's, out of touch, or more of the same?

Responding to criticism over his comment from earlier in the day that
the "fundamentals of our economy are strong," John McCain defined those
fundamentals.

"My opponents may disagree, but those fundamentals, the American worker
and their innovation, their entrepreneurship, the small business, those
are the fundamentals of America and I think they're strong," McCain
said.

http://firstread.msnbc.msn.com/archive/2008/09/15/1401952.aspx

What?!?! The "fundamentals, the American worker" are strong? The same
day McCain made this statement 50,000 workers found out they were going
to lose their jobs or be laid off. The number of unemployed workers rose
by 592,000 to 9.4 million in August.

http://www.bls.gov/news.release/empsit.nr0.htm
http://www.workforce.com/section/00/article/25/76/43.php
http://blog.oregonlive.com/siliconforest/2008/09/hp_plans_mass_layoffs_at_eds.html

The fundamentals, their entrepreneurship, the small business, those are
the fundamentals of America and I think they're strong," McCain said.

The NY Times reports that small businesses "are encountering more
restrictions at lending institutions, making it harder to get the credit
necessary to expand or, in some cases, stay afloat.

Last month, a Federal Reserve report found that a third of banks in the
United States had tightened their lending standards for small-business
loans."

3 of the 5 major investment banks are now gone. That's fundamentally
strong?

Former Fed Chairman Alan Greenspan said yesterday that the US is in a 'once-in-a-century' financial crisis.

The reality is that the US economy is fundamentally in the toilet. The
American workers can't innovate when they don't have a job.
Entrepreneurs and small business can't flourish when they don't have
access to credit.

There are three possible explanations for John McCain's statements yesterday:

1. Is he completely out of touch with what's happening in this country?

2. Has Alzheimer's kicked in and he's thinks it's the 90's?

3. Has he taken a page from the current administration ( "Mission
accomplished" & "Brownie, you're doing a heck of a job,") believing
that if he says everything is fine over and over again American people
will believe it's true?