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308 Comments
- blakecr, on 09/15/2008, -22/+129I can't help but feel confident that Obama is going to win even though he is having a down time in the polls. I just can not see how America will get it wrong this time. I hope my confidence does not find me mistaken on November 5th.
Get out there and do something if you want Obama to be POTUS. I am volunteering for a local Senate race and trying to phone bank to help people get connected and involved. Please do the same. Obama also needs the funds to keep coming in if he expects to change the electorate. The fate of our country could depend on your ability to make a difference.
http://my.barackobama.com/modules/votercontact/log ... - grumluvr, on 09/15/2008, -9/+82When he said "our economy" he was referring to the McCain family economy, they're rolling in dough. As for the rest of us...
- SheilaNoya, on 09/15/2008, -16/+63McCain still says lines like "Government should be on your side, not standing in your way". However, that's just his new revised version of what he usually preachs about his "Free Market" economic policy (which is shared by most Republicans).
McCain used to preach that we need to remove business regulations and let the "Free Markets" do whatever they want. That's the same failed approach that got us into this financial meltdown with no one being held accountable for it.
The "Free Market" approach was a huge failure under George H. W. Bush, and now it's proven to be a failure under his son, George W. Bush. We're seeing the same crisis under both father and son - record foreclosures, record bankruptcies, and bank failures.
It's time to end the Republican "Free Market" policies and get some strict banking regulations put back in place. We need accountability and stability and we can't afford to keep repeating the same failed Republican approach. - normlsparky, on 09/15/2008, -10/+54wow. the dow loses 300 points in 15 minutes and he says this? he really wasn't kidding when he said he wasn't an expert on the economy. it looks like he could use a refresher course in common sense as well.
- inactive, on 09/15/2008, -6/+42McInsane is slipping into a WORLD of DELUSIONS
"A free and democratic Iraq!"
"Bush is a moral christian man!"
"Warmongering make the world a safe place!"
"War is Peace!"
"Freedom is Slavery!"
"Ignorance is Power!"
"Palin is tough!"
"The economy is hunky dory"!
No wonder his own in-laws won't vote for him - jstohler, on 09/15/2008, -8/+43They forgot to update his talking points.
- hawkeye17, on 09/15/2008, -10/+39John McCain has become a disgrace. Trying to smear and lie your way to the Presidency is hardly the act of an 'honorable' man.
- dedpoet777, on 09/15/2008, -9/+37i dont see what all the fuss is about. there will only be like 6-9 million people losing homes before the end of the year. we have only had 13 banks crash this year. gas prices are really low (compared to jet fuel) everyone has the cancer.
i dont remember who it was, but someone said the american people are just "whiners," and i tend to agree with that. i think it is all our fault. we just dont work hard enough.
McShame/Lipstick Barbie 08 - Anim8ir, on 09/15/2008, -7/+34The Economy is as strong as McCain's health.
- mbelleghem, on 09/15/2008, -5/+32"It's like these guys take pride in being ignorant."
- inactive, on 09/15/2008, -11/+37McCain is contradicting himself again. How can we tell when this man is telling the truth?. ............
http://thefiresidepost.com/2008/09/15/mccain-contr ... - bananasluggy, on 09/16/2008, -3/+27I want to Believe... that the voting machines won't be rigged like last time...
- vault, on 09/15/2008, -7/+31a third party vote won't bring about any sort of change at all.
"that's what the two party duopoly wants you to think!!"
maybe so, but it's true. - AmericanElitist, on 09/15/2008, -9/+31The economy is great when you are a filthy rich bastard like McCain. Between he and Palin they couldn't teach home ec in a junior high. How embarassing that these two clowns are on a major party ticket in America. We should hang our heads.
- cg4et, on 09/15/2008, -11/+33I'm sure his economy is fine. The economy I live in, frankly, sucks. Maybe I should dump my current spouse for a rich woman just like he did.
- NotYourProdigy, on 09/16/2008, -8/+29Hey Republicans, you've failed. Just don't bitch when we give the other side a shot.
- blorc, on 09/16/2008, -3/+24That's because it's not free market at all. I can't believe you're blaming this on the companies. Sure, they're responsible for their own current situations, but they did not cause the economic collapse. The Fed caused the economic collapse.
This has nothing to do with free markets. Saying we have free markets is about as accurate as saying China has freedom of speech. This is all the Fed and government regulations doing. If free markets were actually at work, these ***** would have never been propped up for so long in the first place, and they would have already failed miserably, or this perhaps would have never happened. - fuzzlog, on 09/16/2008, -2/+20the last two times...
- MuRecursion, on 09/16/2008, -0/+17Corporatism is not free market capitalism.
Don't bash what you don't understand. - rdoger6424, on 09/16/2008, -1/+17Good point. Bush has run several large corporations...
... into the ground - halftank, on 09/15/2008, -10/+26If he keeps saying "the fundamentals of our economy are strong" maybe he thinks the left side of his face (you know, the side they usually don't show on TV) will stop melting.
- elipabst, on 09/16/2008, -1/+16And you're voting for McCain who hasn't held a real job ever in his life? He's been a government employee his entire life.
- remccain, on 09/16/2008, -4/+18News Flash: The polls are fixed. Always have been.
http://www.huffingtonpost.com/2008/09/09/poll-madn ... - richmomz, on 09/15/2008, -6/+19The prospect that someone so clueless can come so close to becoming the most powerful man on earth frightens me.
- mcsenget, on 09/16/2008, -0/+12It was the Fed. Corporatism and the Fed are killing us.
Not Capitalism. - seddyei, on 09/18/2008, -7/+19If this doesn't prove how out of touch McCain is, nothing will. The worst day on Wall Street in 7 years with NO END IN SIGHT. Yet he stands by his naive, unsubstantiated statement that the "fundamentals" are strong. Hello? The fundamentals of the economy are a strong housing market and available credit to borrowers. BOTH OF WHICH HAVE BEEN OR ARE BEING CRUSHED. Maybe Phil Gramm instilled this idiocy in his head, but McCain is a VERY dangerous candidate. It shocks me how this race could even be so close.
- theviceroy, on 09/16/2008, -3/+13Simple: He's never telling the truth.
- stonecircle, on 06/11/2009, -4/+13McCain is either refusing to acknowledge a problem, can't see the problem, or once he makes his point is too stubborn to retract it.
"I'm going to be honest: I know a lot less about economics than I do about military and foreign policy issues. I still need to be educated," ...But the "fundamentals of our economy are strong!" ~ John McCain - vatosplace, on 09/15/2008, -3/+12If it gets really bad for them they might have to fire some staff at one of the mansions! Oh the Horror.
- EarlOfLade, on 09/16/2008, -0/+8His nurse?
- jshooter1377, on 09/15/2008, -6/+14Words cannot express my feelings towards this man (and the party he represents but distances himself from at any possible moment) anymore...
We only have 26 letters to create new words in the English language. I have simply run out of things to say. - damndj, on 09/16/2008, -1/+8I'm glad Rush is able to provide you with you internet ammo, Bkaufman
- biotch, on 09/16/2008, -1/+8duopy3,
"I know a lot less about economics than I do about military and foriegn policy issues, I still need to be educated"
-John McCain
Obama's tax proposal is similar to Clinton's old tax plan but with lower taxes for the middle class and lower class.
Here is Obama's tax policy proposal.
http://alchemytoday.com/obamataxcut/details.html
The richest 20% in this nation have gained (with the exception of a couple years) in their share of the total income pie consecutively year after year since 1982 at the cost of every other bracket. The richest 5% have been gaining through this time at an even faster rate. This was true even when Clinton was taxing them higher. All the Clinton tax plan did was slow this down. It means we need a more progressive tax plan. Obama's tax plan is more progressive like Clinton who balanced the budget and achieved surpluses even if you discount social security borrowing. McCain's proposal is to flatten tax rates which has shown via Reagan, Bush sr. and Bush jr. only to exacerbate this problem, create consecutive record deficits, astronomical debt, slower GDP growth, slower job growth, less investment, increased poverty, and higher unemployment in all trials when compared to Clinton's 90s.
As you can see, if the state of our economy is your main concern, Obama is your man.
sources:
Income by quintiles
http://www.census.gov/hhes/www/income/histinc/h02a ...
debt by party
http://i27.tinypic.com/120m447.jpg
Clintons surplus and balanced budget even when discounting SS
http://www.factcheck.org/askfactcheck/during_the_c ...
GDP
http://www.bea.gov/national/nipaweb/TableView.asp? ...
Investment:
note the dow and nasdaq remained at above 300% what they were when Clinton took office even after the 2000 downturns
http://stockcharts.com/charts/historical/nasdaq197 ...
http://stockcharts.com/charts/historical/djia1900. ...
http://politicaltracker.blogspot.com/
poverty:
http://www.census.gov/hhes/www/poverty/povertyrate ...
jobs:
http://www.bls.gov/cps/
http://en.wikipedia.org/wiki/Jobs_created_during_U ...
http://www.factcheck.org/bush/facts_of_the_union_2 ...
Unemployment:
http://data.bls.gov/PDQ/servlet/SurveyOutputServle ... - inactive, on 09/16/2008, -2/+9Free Market was given a chance, and we chose civilization instead of anarchy. That debate ended 10,000 years ago at the dawn of civilization.
Now that you have a regulated economy, it is the governments job to lay out the play field and the rules and provide the officials to govern it.
The republican policy for the last 30 years has been to privatize those functions and hope the business people they hand it over to don't rob the public blind, and it hasn't worked yet. Every couple of years, its "here we go again" with a few greedy individuals gaming the deregulated system and taking off with all the money. This is just another example of that happening once again. - mups, on 09/15/2008, -7/+14If the democrats want to win, all they have to do is furnish as much adspace as possible with the phrase "McCain=Bush". I love talking about and following real issues as much as the next brain-possessing human, but the reality is about half the population of the U.S. needs it dumbed down that much. For some reason the democrats are afraid to sum things up in a nutshell. Just pick a winning message, stick to it, and enjoy the victory.
- inactive, on 09/16/2008, -0/+7I agree, testing voters is a bad idea. Now testing candidates...
- Bkaufman, on 09/16/2008, -3/+9I don't agree with Rush Limbaugh most of the time, but hes dead right on this one:
So here you have people with their emotions running raw, after 50 years of FDR-led attitudes about the benevolence of government, most people, "I don't care about the theory, Rush, I don't care what you're saying, you may be right, but you can't afford to go bankrupt along with all these other people. If the government is going to bail it out, thank God for the government 'cause if the government is going to save me, then thank God for the government." That's the attitude that people have here. What you don't understand is that this is going to keep happening, and a genuine, genuine crash at some point is gonna happen someday, I don't think it's going to be in our lifetimes, but certainly in your kids or grandkids' lifetimes, is not going to be averted unless somebody gets a handle on this. Oil is down to 96 bucks a barrel today. The Dow Jones opened up at minus 173, it rebounded a little bit so it's coming up from where it was 10 or 15 minutes ago. The dollar is now surging against the euro and a number of other currencies. Wall Street firms are failing because they took on bad mortgages given to deadbeats who didn't deserve them, not because of Bush policies. And who made them do this? It was an act of Congress. Too many of these people in Washington want to pander, and that's exactly what's happening now. The thing that really distresses me is at the end of the day on all this, people are going to end up with a conclusion that capitalism doesn't work, that capitalism is what's flawed here and it's not. When they start talking about regulation as Senator McCain did in Jacksonville, "We need more regulation." No, Senator, with all due respect, we need some accountability for a change. - VicHislop, on 09/16/2008, -3/+9Well considering that the only two major stock markets to end in the black today were in Norway and Sweden, perhaps that wouldn't be such a bad idea.
http://money.cnn.com/data/world_markets/ - SpykerSpeed, on 09/16/2008, -1/+7Your comment won't be appreciated here, no matter how true it may be.
- Cattywampus, on 09/16/2008, -0/+6I wouldn't say 500 points is "nothing," but it's true that it's not a huge percentage loss (4.4%), considering the level the Dow is at today,
When the Dow lost more than 500 points on "Black Monday' in Oct. 1987, that was a more than 22% loss... in one day. - BotchaMcCoola, on 09/16/2008, -6/+12No IQ test for voting yet? Is that the main US system defect?
- akinapb, on 09/16/2008, -2/+8You seriously don't know what you are talking about. The fundamentals of this country is the value of our dollar. That is in essence what our economy reflects. Right now the dollar is at a low compared to the past decades, food prices are going up, and the only reason why oil is down is because OPEC is artificially reducing production in order to made oil a non-issue during the election. We are in a 10 trillion dollar debt. China own about a trillion dollars worth of bonds. Our housing market is in a crisis. Greenspan predicts we still have a 50% chance of going into recession. Unemployment is at an all time high. We are printing and borrowing money like mad-men, trying to support our own infrastructure and fight two wars. One of the largest banks in the country, declared bankruptcy, the first time this had ever happened with a bank of that magnitude. The government had to step in, in order to actually secure half of our nations mortgages from utter collapse. And you say... our fundamentals are strong?
When Greenspan says we have a high chance of hitting recession, our fundamentals are not ***** strong. Sorry for the ad hominem attacks, but you are an idiot, seriously, I really hope you are joking and don't really believe in what you are saying. On a side note, look what the Bush Administration and Republicans have done, they just took over Freddie Mac and Fannie Mae, unprecedented corporate take overs by any government in human history, how ***** more socialist can we get?
Also Obama isn't a Marxist, moron, he's not advocating the overthrow of corporations by the proletariat. Your stupidity disgusts me, I don't understand how every time you post an ignorant, moronic comment and get bashed down by others through actual logic and facts, you keep coming back for more. At least attempt to make reasonable arguments without employing logical fallacies. - inactive, on 09/15/2008, -16/+22Rightard stupidty + ignorance + denial = moron.
- brad1, on 09/16/2008, -1/+7Will you then declare that the economy is doing great the next time the DOW gains 300 points?
- Boing, on 09/16/2008, -5/+11November can't come soon enough... then maybe we'll be spared all of these politcal articles where the liberal majority on digg buries any comments opposing Obama or defending McCain.
- radiofrequency, on 09/16/2008, -7/+12The economy is strong. If these crooked banks were being bailed out there'd be some concern but as long as people who screwed up are paying the price it's an indicator that capitalism and its checks and balances are working properly.
Welcome to America. Those who screw up, fail and lose it all commensurate with the risk they took. Those who succeed do well and make money. - nihilville, on 09/16/2008, -2/+7Of course he's sugar coating it...
What part of saying that "the fundamentals are strong" in way of describing an economy that is spiraling out of control, putting us more and more in debt to a surging China every year to the tune of hundreds of BILLIONS, decimating peoples retirement funds and creating the greatest disparity between rich and poor this country has ever seen since the big Depression... don't you understand?
You don't understand any of it. The Republican economic plan to destroy this country has worked... Only too well. - verifex, on 09/16/2008, -5/+10What he's trying to say is, "Don't Panic!"
But he doesn't want to say it quite like that, as that would make people nervous. Remember, investors are jittery impulsive people, and if a leader says, "our economy sucks, fundamentals flawed", then economic upheaval is soon to follow, that isn't the kind of thing we want right now. We want more stability, and less volatility. Yes, it's pretty much lying what he is doing, along with Bush.
I think the change the American people ARE looking for is for their leaders to treat them as adults, and give them the reality and stop sugar coating the truth because its too "jarring". McCain is continuing the sugar-coat the truth as he is running a campaign based on treating the voters as simple-minded fools who will believe anything you say, simply because you say it. - inactive, on 09/16/2008, -1/+6Buried for inaccurate title
- kalvinb, on 09/16/2008, -2/+7The people losing their houses are the people who shouldn't have had a loan to begin with. In other words, they shouldn't have had a house to lose to begin with.
Those people are to blame for trying to live outside their means. The banks are at fault for encouraging them to try or pretending that they weren't living outside their means.
What's really messed up is that a car dealer called in to talk radio and was talking about people who would come in and not be qualified to buy a car but managed to get a loan for a house. That was 5 years ago it was happening and the guy knew there was going to be trouble. Usually getting a car is easier than getting a house.
So no, I don't see this as a huge blow to our economy. I see this as a market correction. It looks bad because consumers thought that the big banks were smarter than this. Seeing that they're not reduces confidence. Those idiot banks will be swallowed up by smarter banks (or go away) and the consumer will regain confidence in those that remain. -
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