In tonights debate we can expect to see a couple of things. First, this will be the first time that Obama has the privelege of being in a mainly liberal audience. Second, McCain will seem as rigid as ever as he usually does in these formal debates where he can't strut his stuff. Third, the last debate before the election is usually the most exciting because it is a perfect time to unveil new strategies or to actually verbally assault your opponent. Lastly, McCain will get a chance to practice what he will have to say to David Letterman Thursday night when he tries to apologize for skipping out on Letterman a couple of weeks ago.
Although there is little chance that McCain can make up the lost ground that has occurred over the past 3 weeks, this debate actually might be interesting. The first two were quite mundane with no real questions being answered or issues being addressed. This debate could get ugly and could also get down to business which all Americans would like to see from both candidates. It should be very interesting to watch, and my prediction is that after tonight McCain's numbers will go up slightly because I believe he will do something tonight to change the tone of his campaign. Obama needs to watch out tonight and remain calm and composed to keep this lead that has been increasing ever since our economic crisis.
Wednesday, October 15, 2008
Friday, October 10, 2008
Exactly the problem
Do you know who Neel T. Kashkari is? You shouldn't unless you are deeply involved with the treasury department and have literally nothing better to do with your life. Mr. Kashkari has been Hank Paulson's special aide within the treasury for the past two years, and before that they were both involved with the investment firm Goldman Sachs. Kashkari has only been involved with the investing world for 6 years, but has been given the job of administering the $700 billion bailout plan.
This is exactly what is wrong with the U.S. economy. All that bull every politician spouts on and on about getting rid of the "good 'ole boys" system should be screaming at this appointment. Paulson could have tapped literally any investment banker, broker, economics guru to do this job, but instead he picked an aide whom he had only met 2 years ago. Simply giving this job to someone that is from the same economic fraternity as you is unexceptable Mr. Paulson. There were so many individuals that were considered candidates by the media and the general public, but instead we have a 35-year old with only 6 years experience.
Now I could be wrong. It is quite possible that Mr. Kashkari is just the man to take on this enormous responsibility and help rescue the U.S. economy. I don't know the man, but I know one thing...he isn't what the American people want to hear, but should be used to with this atrocious adminstration.
Just like every other blunder made by the current administration, there is no effort made to sell this decision to the public and to convince us that this is the right choice. The war in Iraq, the Patriot Act, response to Katrina, and not this...all of these were acted upon and weren't sold to the public as being the "right" choice. Previous presidents and administrations have been excellent making crucial decisions, and more importantly selling them to the American public.
Mr. Kashkari you may very well be a great choice for this position, but psychologically you are the exact problem with the current economic system and crisis. My thoughts are with you simply because if you do screw up, it means not just hell for you, but hell for all of us.
This is exactly what is wrong with the U.S. economy. All that bull every politician spouts on and on about getting rid of the "good 'ole boys" system should be screaming at this appointment. Paulson could have tapped literally any investment banker, broker, economics guru to do this job, but instead he picked an aide whom he had only met 2 years ago. Simply giving this job to someone that is from the same economic fraternity as you is unexceptable Mr. Paulson. There were so many individuals that were considered candidates by the media and the general public, but instead we have a 35-year old with only 6 years experience.
Now I could be wrong. It is quite possible that Mr. Kashkari is just the man to take on this enormous responsibility and help rescue the U.S. economy. I don't know the man, but I know one thing...he isn't what the American people want to hear, but should be used to with this atrocious adminstration.
Just like every other blunder made by the current administration, there is no effort made to sell this decision to the public and to convince us that this is the right choice. The war in Iraq, the Patriot Act, response to Katrina, and not this...all of these were acted upon and weren't sold to the public as being the "right" choice. Previous presidents and administrations have been excellent making crucial decisions, and more importantly selling them to the American public.
Mr. Kashkari you may very well be a great choice for this position, but psychologically you are the exact problem with the current economic system and crisis. My thoughts are with you simply because if you do screw up, it means not just hell for you, but hell for all of us.
Thursday, October 9, 2008
Proof
You want proof that this economic crisis has hit everyone. As a teacher we often go on field trips and obviously we need to collect money to go places. What is different about this year is that no one, and I mean no one, is paying in cash only check. Money is so tight that very few families are willing or able to spare even $50 in cash. This credit crunch is real and unfortunately it is going to get much worse for the consumer before it gets better.
From Bull and Bear to Utter Despair
Remember the date October 10th for two reasons. First in 2007 it marked the highest close of the Dow Jones Industrial Average (DJIA), over 14000, but in 2008 it will mark the lowest opening since 2003. The DJIA has fallen by close to 40% in just one year, which is almost unprecedented...the only other time it ever happened was in 1929 and the atmosphere was very black.
Only months ago the pundits and economists were debating whether or not we were in a recession or not. We are without a doubt in the midst of a crash. The DJIA and most other indexies have plummeted by almost 30% in just 10 trading days. This is the defnition of a crash and it is only going to get worse, not better, over the next months and probably years. The $700 billion bailout plan is like putting a band-aid on a severe laceration and the government has no idea what to do except to react in times of emergency.
It is time to face facts and realize that the government is not going to do anything to help or prevent things from worsening. When the G-7 meet this weekend all that will happen is they will all collectively soil themselves. Instead of drastically cutting interest rates, nationalize struggling companies, or doing anything they will just come out publicly and say we need to wait for things to pan out.
This market will reach its absolute bottom in January of 2009 when the economy fully collapses under the tremendous pressure of the credit crunch. When people begin to realize that they can not buy the usual gifts or travel to the usual places is when everyone will begin to realize that this is a true collapse of the stock market.
There is no bull or bear...only utter despair
Only months ago the pundits and economists were debating whether or not we were in a recession or not. We are without a doubt in the midst of a crash. The DJIA and most other indexies have plummeted by almost 30% in just 10 trading days. This is the defnition of a crash and it is only going to get worse, not better, over the next months and probably years. The $700 billion bailout plan is like putting a band-aid on a severe laceration and the government has no idea what to do except to react in times of emergency.
It is time to face facts and realize that the government is not going to do anything to help or prevent things from worsening. When the G-7 meet this weekend all that will happen is they will all collectively soil themselves. Instead of drastically cutting interest rates, nationalize struggling companies, or doing anything they will just come out publicly and say we need to wait for things to pan out.
This market will reach its absolute bottom in January of 2009 when the economy fully collapses under the tremendous pressure of the credit crunch. When people begin to realize that they can not buy the usual gifts or travel to the usual places is when everyone will begin to realize that this is a true collapse of the stock market.
There is no bull or bear...only utter despair
Tuesday, October 7, 2008
McCain's Last Chance
Tonight's debate will have one of two outcomes. John McCain should win since this particular town hall style debate benefits him because he is free to roam around and talk to people. This atmosphere tends not to make John McCain look as old and rigid, which is precisely why he tends to host events with this same format. If Barack Obama happens to "win" tonight's debate then I think it could mark the end of the chance that McCain is still in this race.
McCain, Palin, and the Republicans have already resorted to year old claims of Obama associating with terrorists like Jeremiah Wright and Timothy Ayers. First of all these claims have been vetted in the media and really don't have the legs to stand on, but to be fair I will open that can of worms. Google the names John Vogler, or Alaskan Independence Party, or Thomas Muthee and you can learn all about domestic terrorists that Sarah Palin has closer ties to than Barack Obama does to anyone.
With only 28 days to go McCain is already beginning to end his campaign efforts in states like Michigan and is having to defend states that the Republicans haven't had to defend in over 15 years. Virginia, Florida, and Colorado have been solid red states for the last 3 elections, but this year all three could end up being blue. Johnny you better hope you do well tonight or else its all over buddy.
McCain, Palin, and the Republicans have already resorted to year old claims of Obama associating with terrorists like Jeremiah Wright and Timothy Ayers. First of all these claims have been vetted in the media and really don't have the legs to stand on, but to be fair I will open that can of worms. Google the names John Vogler, or Alaskan Independence Party, or Thomas Muthee and you can learn all about domestic terrorists that Sarah Palin has closer ties to than Barack Obama does to anyone.
With only 28 days to go McCain is already beginning to end his campaign efforts in states like Michigan and is having to defend states that the Republicans haven't had to defend in over 15 years. Virginia, Florida, and Colorado have been solid red states for the last 3 elections, but this year all three could end up being blue. Johnny you better hope you do well tonight or else its all over buddy.
Friday, October 3, 2008
A Rove-Like Strategy
You have to love the Rove-esque strategy the McCain emplored upon Mrs. Palin. I can just hear the words spewing from the mouth of Karl right now...
"Let's make the broad look as dumb and moronic as possible and then that damn liberal media will run with that right until the debate night. Then those stupid commis will get blown out of the water by her performance. We will prep the s*** out of her and she might actually sound like she belongs up their with Biden. All she has to do is just not lose by a lot. Then it will seem like a win and that broad can win us the election."
God I hate him, but its true. All week Katie Couric made her look like a simpleton from Wasilla (which I still think she is), but she did OK in the debate so to most people that sounds like a win. I know that I don't want my VP to be someone who utters the phrase "gee-golly" on national TV, but idiots vote too. In most polls 80% of people said that Biden won, but the lasting impact of this debate will be the re-enrgizing of the Palin personna. Oh, and Karl...burn in hell with Bill O'Reilly.
"Let's make the broad look as dumb and moronic as possible and then that damn liberal media will run with that right until the debate night. Then those stupid commis will get blown out of the water by her performance. We will prep the s*** out of her and she might actually sound like she belongs up their with Biden. All she has to do is just not lose by a lot. Then it will seem like a win and that broad can win us the election."
God I hate him, but its true. All week Katie Couric made her look like a simpleton from Wasilla (which I still think she is), but she did OK in the debate so to most people that sounds like a win. I know that I don't want my VP to be someone who utters the phrase "gee-golly" on national TV, but idiots vote too. In most polls 80% of people said that Biden won, but the lasting impact of this debate will be the re-enrgizing of the Palin personna. Oh, and Karl...burn in hell with Bill O'Reilly.
Thursday, October 2, 2008
Alternative Bailout Plan
Instead of having Congressman scramble to understand a problem, let alone solve it, we need to to tap economists to save the country from this crisis. "Sweetening" the deal with tax breaks to Puerto Rican rum bottlers and companies that make wooden arrows for boy scouts (I couldn't have made this stuff up) will do nothing to make the plan better. Spreading the debt around still doesn't get rid of the problem just prolong it.
Billionaire investor Wilbur Ross has come up with an idea that is far superiour for many reasons. 1. Taxpayers can benefit.
2. Homeowners can get money from their foreclosed home.
3. Lending companies can generate capital
4. All mortgages suffering from foreclosure will be partially insured.
5. He will put one billion dollars for it.
See the whole plan here: http://www.cnbc.com/id/26990370
Billionaire investor Wilbur Ross has come up with an idea that is far superiour for many reasons. 1. Taxpayers can benefit.
2. Homeowners can get money from their foreclosed home.
3. Lending companies can generate capital
4. All mortgages suffering from foreclosure will be partially insured.
5. He will put one billion dollars for it.
See the whole plan here: http://www.cnbc.com/id/26990370
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