Friday, October 3, 2008

The bailout passes and the market still tanks.

Post the Biden/Palin matchup which incidentally polls show that Biden won, the House of Representatives went on to debate the bailout package and passed this time by an overwhelming margin. I expect it was the fear of God from a lousy jobs report, around another 1500 thousand more jobs were lost in September. But, until 10 days ago, when job losses had been reported over the last year, GW Bush wasn't prepared to hit the panic button and call Congress into action. Instead, between himself and Paulson, McCain and etc., GW kept insisting that even though we faced "challenging times," the fundamentals of our economy remained strong. Now we have a train wreck, and GW wants and finally gets a bail out package. On PBS which hosts such news as Washington Week and the News hour with Jim Lehrer, it was revealed that when GW had indeed hit the panic button, it was already far too late. Yeah, and McCain is trying to run a campaign in a GW produced disaster of far-reaching implications.

Biden and Palin debate: I have seen clips of the debate now on the above shows mentioned. Palin working on the "folksie" type of approach that better connects with middle America. Yep, you betcha, ain't. I go on a blog such as Huckleberries online or even A Matter of Opinion, I may indeed say, yep, you betcha, ain't. But then I am in the company of commenters and bloggers who use the same language. On the world stage, I think I would need to make my case in something other than "winking a lot" or using words that convey an ignorant sort of hick. I would want to show my best in my use of correct language. Instead of yep, yes. Instead of you betcha, I would produce before the listener/viewer that I had some command of the English language. While the reporters and spin doctors were politely spinning that well Palin made no major gaffes and that she exceeded expectations, uh, she had a less favorable review post the debate than she had before. The one called: Not qualified to be a veep or president. Right, the gaffe was in how she conducted herself. During the debate she challenged Joe Biden as a guy who should not look back when it came to the past 8 years of the GW administration. Oh? But Palin resorts to history herself when trying to convey her best lines. Gwen Ifill in this moment advised the hypocrisy on the part of Palin. Gaffe compiling on gaffe. None the less, despite Palin's failure to impress beyond a narrow base, McCain laughed and nearly hooted that he felt real sorry for his good friend Joe. On the presumption or perception that Palin had mopped the floor with Biden. Not according to the post debate polls. But only McCain would engage in an absolute lie.

The bail out: CNN discussed how McCain was on some kind of victory lap that finally, Congress had pulled something out of its ass and passed this thing. Again on Washington Week, one of the reporters noted that McCain had lost some core Republican support. He suspends his campaign, goes to Washington, "brings the Republicans together" who then go on to buck the original legislation... And what the reporter reveals, McCain had not followed through. McCain had not followed through! That vindicates previous blog posts that McCain was just using this bail out package for his own personal political gain.

McCain ad, he resorts to the use of Iraq, which the American electorate is thoroughly tired of, and uses the American troops to attack Obama. Never mind that in the last few months, many U.S. troops are having a change of opinion about Obama. Because of one reason: I am sure that they are getting sick and tired of multiple rotations, stop loss, and extended tours. Reference Palin telling Biden that he is raising the white flag of surrender for wanting to end the war. Don't you just love the meaningless platitudes? We have a worn out military, we are suffering some trillions of dollars in debt, we depend on enemy countries to finance our heavy spending. At some point, we need to reprioritize what our expenditures must be if we are to get our country economically strong again. That isn't just jobs, but also a rotting infrastructure. And Al Qaeda needn't lift a finger if a bridge collapses again in Somewhere, Any state, USA and kills dozens of people. No, we have no money to fix it. This is our problem. Yes, we should look back as the recent history must be a lesson for the future. This is my response to McCain's ridiculous ad: McCain, provides utterly ridiculous ads, approves of lying a lot and can't say anything constructive. So on the above news shows mentioned, McCain is expected to return to "character issues." To hit Obama on a lack of character. When it comes to "character" McCain is just as challenged on character as he accuses his opponent of being. Read above.

The stock market initially rose on reports of the House voting on the bail out package. Then it tanked. How about that. Now, the same gvt these business interests came running to in a panic for help, can't even trust the help they are supposed to receive in the months ahead. Or was it the jobs report. Palin v Biden, Palin making the argument that taxes can only kill jobs. We had a recent "tax cut" of 600 dollars to "stimulate the economy." Looks like the economy shed more jobs despite this last round of GW tax cuts; which leads to Obama targeting Palin with a strong hammer hand as of this morning. That he hoped she turned on the TV and learned about the latest round of job losses. Yeah, PBS, they showed that. What did tax cuts ever do to keep the economy strong? Or banks and insurance companies from tanking? Or mortgage industries such as Fannie Mae and Freddie Mac becoming nationalized? Add to that lowered interest rates, the dollar bottoming out, and then writers of letters to the editor informing us of what happened when back in 1929 and what Woodrow Wilson signed onto. However, if this is a repeat of 1929, do recall that the Democrats are not in charge of making policy. The blame for this solely lies with GW Bush. No matter what the spin machine in the S-R Roundtable try to argue otherwise. And the next president will have a helluva mess to clean up. Worse than GW had to clean up after Monica Lewinsky. Monica Lewinsky? Adultery is petty compared to what this country is facing right now. Don't we all wish that GW had that intern waiting in the wings after all.


Ray said...

I think the market will rebound...Despite the stats, I still see high paying jobs posted on employment sites - (networking) (aggregated listings) (matches you to jobs)

good luck to those searching jobs.

The New Arch Druid's take on the news said...

Yeah, the market will rebound, it is the credit market that Congress wants to see bailed out and with taxpayer protections put in place. We hope. And it is good that high paying jobs still exist. And thank you for stopping by.