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September 30, 2008

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» POLITICS/BUSINESS: The Day After from Baseball Crank
Well, the last couple of days could have gone better, couldn't they? The Wall Street Journal has probably the best overview of Congress' failure. Lest anyone get the wrong idea from yesterday's post, which I will freely admit I wrote... [Read More]

Comments

iTCO

Maybe hold off until Friday before recommending any Palin appearances. And bump up McCain's ritalin- that boy's got issues.

glasater

The WSJ article on Sarah Palin the up coming debate gives a little insight on the McCain strategery.

Neo
One thing that bothered us, though, was Obama's closing statement:
You know, my father came from Kenya. That's where I get my name.

And in the '60s, he wrote letter after letter to come to college here in the United States because the notion was that there was no other country on Earth where you could make it if you tried. The ideals and the values of the United States inspired the entire world.

I don't think any of us can say that our standing in the world now, the way children around the world look at the United States, is the same.

And part of what we need to do, what the next president has to do--and this is part of our judgment, this is part of how we're going to keep America safe--is to--to send a message to the world that we are going to invest in issues like education, we are going to invest in issues that--that relate to how ordinary people are able to live out their dreams.

And that is something that I'm going to be committed to as president of the United States.

Barack Obama may be the world's leading expert on Barack Obama, but he managed to misstate a crucial fact in his father's life story. Obama père came to the U.S. in September 1959.

Chris

McCain should have an alternative plan that he's pushing, and quickly. There are plenty of creative measures which could stabilize things.

Get rid of mark to market. That won't solve anything by itself but it needs to go. Raise FDIC deposit insurance. These would take congressional action most likely but I don't think they would be nearly as difficult to pass as a huge bailout. And they'd be helpful.

Then go on offense. Name names. We have to name these corrupt pols too. The Fannie five? GSE three? Come on folks. We can do it.

TOO

Keating Five?

Whoops! Already taken.

Pofarmer

There are plenty of creative measures which could stabilize things.

Like wait?

This is copied from a Ted Mao newsleter from CITI.

Bottom Line
Market Meltdown was the battle cry for almost all mkts yesterday. One cannot separate what is going on with the credit mkts with all other mkts. Right now the “fear factor” is at its peak and that means there is more downside risk. The issue of liquidity and the functionality of our banking system is the paramount issue. Until mkts and traders are convinced that we “can do business as usual”; this cloud will hang heavy over all mkts.
Individual mkt fundamentals may not be the most important factor dictating price movements in the short run during this time of

Grains have stabilized. Dow and S&P are up. Both the $ and oil are up, which probably means that folks are looking at prospects of better things, although I'm not really one to be reading those tea leaves.

Calm.

Down.

Folks.

I can tell a lot of folks aren't market watchers.

Chris

TCO,
Keating Five? Did you come up with that on your own? Exactly my point by the way. The name sticks to this day. What Barney and Dodd did to facilitate this disaster needs to be put out there for the public. Same with ACORN.

madawaskan

Oui.

clarice

Chapter________In which it appears that our beloved leader was much influenced by Henry Fielding.

Forbes

How about doing nothing, while allowing the price discovery mechanism to work. A lot of these market moves are momentum traders going for a ride based on hourly changes in sentiment--trading on emotional swings, and not based on rational fundamentals.

Bubbles burst, and there is no reason the taxpayer should put in a floor for speculators. If that means a little pain, so be it.

When was it those Bear Stearns hedge funds went belly up? They started melting down in June 2007. Forewarned is forearmed.

Neo

Forewarned is forearmed.
And forearmed is two too many.

Lou Shumaker

Anything would help, since Obama's aides are confident of a landslide.

Which explains why he's done nothing about the economic crisis. The Democrats started it by forcing Freddie and Fannie to take bad loans, and now they can blame it all on the evil Rethuglicans.

LurkingMom

Hey Neo, there's more in Obama's closing statement that bothered me. He made a silly excuse for his last name (didn't seem proud of it, either). He was obviously wrong to say that the ideals and values of the United States no longer inspire people, including children, around the world. And he is wrong to believe that the President must send any messages to the rest of the world about what our government is investing in.
I thought he was a little flustered and bungled his closing statement. I was insulted by it. I even felt a little sorry for him because he came off anticlimactical and negative after McCain's more inspirational conclusion.

Dave

Assure McCain's election!??!
But think of the children!

bgates

He was obviously wrong to say that the ideals and values of the United States no longer inspire people
OK, we still inspire people, but he was talking about the glory days of the late 50s/early 60s. Bull Connor, the Bay of Pigs, the CIA coup in Iran...good times.

Tom Maguire

Barack Obama may be the world's leading expert on Barack Obama, but he managed to misstate a crucial fact in his father's life story. Obama père came to the U.S. in September 1959.

Whatever - his father was inspired by the idealism of JFK and Selma. Ike? Forget it.

And forget facts, too.

sbw

And forget facts, too.

And that is part of the Obama political strategy as well. Obama's campaign under Axelrod has prepared the battlefield with astroturf to make it difficult for Main Street voters to know what -- if you'll pardon the expression -- "news" to trust.

Charlie Martin has had to respond to the outrageous. At the same time, the Obama machine has "responded" to manufactured outrageous claims ostensibly -- but not really -- from Republicans.

This leaves an exasperated voter without any inclination whom to trust and left trusting nobody.

This sets the stage for Obama, who claims to be "new" but who is, in fact, the last and most cynical of the old style politicians.

But what will it matter if in the FUD -- the fear, uncertainty, and doubt -- he can sneak into power, name a few Supreme Court activists, get a power-hungry Congress to use other people's money to keep in power, and subvert education.

And they'll party 'til the cows come home... or at least until the chickens come home to roost.

MayBee

For icing on the cake, let's recall that it is liberal AA proponents that have spent many of the last few years complaining that actual Africans are taking up the minority spots at universities.

OK, we still inspire people, but he was talking about the glory days of the late 50s/early 60s. Bull Connor, the Bay of Pigs, the CIA coup in Iran...good times.

I've heard that BHO Sr was thrilled with the idea that black people in American got their very own drinking fountains.

glenda waggoner

I see the troll is back, Tom.

Good idea about Palin-let her do her thang.

I will continue to hold to the reality, that
the majority of voters own computers or at least use one to get their news and search out others who believe as they do. Good and strong attracts strong and good and bad and weak attracts...well, ya'll know ....AND that majority of our "better" selves will keep Obama from the oval office.

narciso

Why turn to the big one, the Great
Depression; the panic of 1837, which was in part over the fallout of the National Bank v. Jackson fight; which made Martin Van Buren's term rather miserable. the 1858 crisis, which probably exacerbated the already simmering secessionist atmosphere. The 1873 crisis, which ended the Gilded Age period that Mark Twain satirized in the novel of the period; which was based on railroads and post civil war real estate,
which led to the 1876 election and the end of Reconstruction. The 1893 panic that led to Coxie's army and the Bryan phenomena, and
the Morgan rescue of 1907. None were salutory experiences, but resorting to the GD without cause, should be a Godwin's Law
violation; yes I mean you David Brooks.


Yeah, that part of the story, never quite made sense; when he came to the States in 1959; The South was undergoing a crisis not unlike what happened is South Africa; a generation later; with Soweto in the post Soweto era. "Bombingham" as Secretary Rice's birthplace was known was symptomatic
of the period; with the more middle class White Citizen's Council driving the Klan. There was the promise of Kennedy, but that went by the wayside with the capitulation to Eastland on judges like Harold Cox, and
the betrayal of the Freedom Riders, which happened almost simultaneously with the

Sara (Pal2Pal)

There is one person out there who has proved his ability to turn things around and he is already out there campaigning for John McCain. That man is Mitt Romney. Why doesn't McCain appoint him as his point man on the economic issues and, most particularly, the economic crisis?

matt

better yet, get her to campaign in some of the marginal districts that the Dems hold.....the best defense is a good offense.

glenda waggoner

Good idea, Sara. Let's tell McCain nice doesn't equate to maverick- .........omg-Rush just called Obama, "you little squirrel"
Well, it fits!

Sara (Pal2Pal)

Anyone who agrees about Romney, please send a note to John McCain. Here is his Contact Page.

MartyH

Palin's natural constituency is the people who are opposed to the bailout. She needs to speak to these people at the debate, explain the situation, and then issue a call to action to contact their Congressmen and tell tehm that they support the bill. In the worst case, this gives Congressmen cover to change their votes. In the best case, she does rally the country to support the bailout. Then, she makes the case that she and John McCain are the spending hawks to make sure that this money is not flushed down the toilet.

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