Rattled
The Dow dropped below 9,000 this afternoon for the first time since 2003.
And the harder the economy falls, the less likely it seems John McCain and the Republicans will have success with a homestretch smear campaign against the Democratic nominee.
Bill Ayers? Who cares? Cavorting with domestic terrorists? A charge that's unlikely to stick to the Harvard Law-educated Barack Obama. Allowing surrogates to use Obama's middle name, Hussein, to cast doubt on his Christian faith, to imply he's a Muslim, to suggest he's un-American. Garbage.
Who's buying the Democrats' "Keating Five" nonsense, for that matter, when voters are watching their retirement savings evaporate, when they're worried about keeping their homes or paying for health care and college bills.
Both White House candidates would be wise to keep it as clean as possible in coming weeks, to emphasize their economic solutions and compassion for citizens struggling to make ends meet, watching their dreams of a comfortable retirement evaporate in a matter of days.
The problem for McCain in all this is that his economic plans -- to extend the Bush tax cuts, to slash the corporate tax rate -- line up with the president's proposals. The translation -- at least if the Democrats are doing their jobs -- is that he's looking out for the wealthy, not the little guy. That he's more worried about big business than mom and pop shops. And in truly tough and scary economic times, that's an easier sell for the Dems.
The ailing market could help usher Obama into office, but curing it will be a daunting challenge for the next president and an urgent test of his efficacy.
(JENNIFER SKALKA)
>>>Allowing surrogates to use Obama's middle name, Hussein, to cast doubt on his Christian faith, to imply he's a Muslim, to imply he's un-American. Garbage.
Ab-so-lutely.
I'm shocked to see this post, but it is welcome.
McCain's campaign has truly set the bar for the new LOW in politics.
It's not just garbage, tho. It is truly dangerous.
If anything happens to Barack Obama, we can all look to the bile and venom that McCain and Palin have used to whip "the base" into a froth.
John McCain needs to come out publicly AGAINST people shouting horrible things at their events, lest things get horribly out of control.
PLEASE CHECK COMMENTS UNDER MCCAIN'S SHORT LIFE?
PLEASE CHECK COMMENTS UNDER MCCAIN'S SHORT LIFE?
PLEASE CHECK COMMENTS UNDER MCCAIN'S SHORT LIFE?
In talking to several of my Wall Street friends, there is a feeling that some part of the market crash is the market becoming fearful that Obama might win. I can't quantify it, but a recent survey says almost three-fourths of CEO's think an Obama administration would be disasterous. The market is always forward looking. It knows that if Obama's tax plans and over-regulation are enacted we are going even lower. I am not saying this is the entire reason, obviously there are others and there is plenty of blame for both parties, but I think at this point with the polls running the way they have been for the past two weeks, there is a correlation.
It is ludicrous for the Republicans to blame the current economic crisis on Fannie, Freddie and poor people!
"Excerpt 'Tyrany of Oil"
Chapter 1: Big Oil's Last Stand
Within days of the New Year, 2008 began with three landmark events. Oil reached $100 per barrel for only the second time in history as gasoline prices began an ascent toward the highest prices in a generation. And on January 3, Senator Barack Obama became the first African American to win the Iowa Caucus. Voter turnout broke records as well, with four times more registered Democrats voting than had turned out in 2000. Senator Obama was reserved yet purposeful as he delivered his historic victory speech. He chose to highlight just a handful of policy issues in the fifteen-minute address, making his focus on oil all the more significant. Obama forcefully declared that he would free the United States once and for all from "the tyranny of oil" and then pledged to be the president "who ends the war in Iraq and finally brings our troops home." An already raucous crowd met these pronouncements with thunderous applause and waves of cheers."
http://www.npr.org/templates/story/story.php?storyId=95465269
Flyover, think again. The market is crashing because people with 401(k) plans and other small investors are pulling out in droves to try to keep something of their life savings. These are the people who are giving Obama his lead in the polls. They are the ones who know that McCain wants to tax our employer health insurance plans - a major tax increase on working and middle class families. Your Wall Street friends are the same old bunch of idiots who got us into this mess, so if they are for McCain, then I am definitely voting Obama.
Ok, 1st it was the big oil companies chocking the market, then it was Bush economics or lack of, then it was the Republicans not passing the bailout, then it was McCain not leading the Republicans to pass the bail out, now its 401k holders pulling out of the market. Exactly who was going to be bailed out in this deal frog. thats right, the left wing election. Go ahead and vote for Osama.
I have a dream to Angellight.
Put air in your tires, eat less, and teach your children to speak spanish America.
I spent 17 years working with Wall Street. Please don't give me your Liberal Arts theories of how it works. The market anticipates. I cearly said it isn't the only reason, however it is one of them. It is time Obama starts talking specifics. Admit the tax increases are suicidal. Admit he won't be able to keep the lights on let alone provide national healthcare. Until the market knows what he will attempt to do, it will be paralyzed. It will adapt, but there will be a period of pain while that happens. He is making it worse by spouting talking points instead of being honest.
Stop trying to explain reality to flyover.
Not only does he *not* get it, he doesn't WANT to get it. Leave him alone in his abject partisan misery.
Although McCain is unlikely to win with a negative attack strategy, he is guaranteed not to win with a positive Mr. Nice Guy focus on economy strategy. So the media should stop criticizing him taking the only approach that gives him even a remote chance of winning during the economic meltdown.
Here, fly, for you.
Obama this morning in Chillicothe, OH:
If we’re going to rebuild this economy from the bottom up, it has to start with our small businesses on Main Street – not just the big banks on Wall Street. Small businesses employ half of the workers in the private sector in this country, and account for the majority of the job growth. But we also know that a credit crunch has dried up capital and put these jobs at risk – shops can’t finance their inventories, and small firms can’t make payroll; it’s harder to get an idea off the ground, or to provide health care for your employees. If we don’t act, we’ll be looking at scaled back operations, shuttered shops, and laid off workers.
That’s why we need a Small Business Rescue Plan – so that we’re extending our hand to the shops and restaurants; the start-ups and small firms that create jobs and make our economy grow. Main Street needs relief and you need it now. We won’t grow government– we’ll work within the Small Business Administration to keep folks afloat, while providing tax cuts to lift the tide. It’s what we did after 9/11, and we were able to get low cost loans out to tens of thousands of small businesses. That’s one of the many steps we can and should take to help stop job losses and turn this economy around.
It starts with a nation-wide program to provide affordable, fixed-rate loans to small businesses across the country. We can run this through the SBA’s Disaster Loan Program, which provides loans to small business owners get the help they need to maintain their inventory and meet their payroll. We’ll also make it easier for private lenders to make small business loans by expanding the SBA’s loan guarantee program. By temporarily eliminating fees for borrowers and lenders, we can unlock the credit that small firms need to move forward, pay their workers, and grow their business.
Just as we make lending more available, we need to relieve the tax burden on small businesses to help create jobs. That’s why I’ve proposed eliminating all capital gains taxes on investments in small businesses and start-ups. And today, I’m proposing an additional temporary business tax incentive through next year to encourage new investments. Because it’s time to protect the jobs we have and to create the jobs of tomorrow by unlocking the drive, and ingenuity, and innovation of the American people. That’s what I’ll do as President of the United States.
politicalticker.blogs.cnn.com/2008/10/10/happening-now-obama-in-ohio/
Fly, read it:
www.washingtonpost.com/wp-srv/politics/documents/obamasmallbusinessrescueplan.pdf
Mr. Winner, I am not interested in your drivel. The market is fearing an Obama administration which will drive us off the cliff. Only an idiot was raise taxes into a recession.