Well folks, as you sit down with your morning cup of coffee and you prepare to delve into the financial headlines you might want to pour a stiff shot of something to sweeten that coffee, that is if you can afford the price of a good bottle of liquor. Here’s a round of the early morning financial news… It’s not pretty: Houston Chronicle: Stocks are on track for their worst year since 1937 NY Times: Nations Weighing Global Approach as Chaos Spreads IHT: Iceland is all but officially bankrupt Guardian UK: Gordon Brown considers legal action against Iceland Nouriel Roubini: The world is at severe risk of a global systemic financial meltdown and a severe global depression Paul Krugman: Moment of … Continue reading
If the predictions are on the money, the signs are all there for a trainwreck for the GOP, come November… Chris Cillizza has pieced it all together on The Fix, noting “a column from Stu Rothenberg who, along with former Fix boss Charlie Cook stands atop the congressional handicapping game in Washington, in which Stu declares that the GOP stands on the precipice of an electoral “bloodbath.”” Cillizza also says:
Rednecks for Obama are back in the news again today. I wrote about them back in late August. Here’s the latest: Tony Viessman, 74, and Les Spencer, 60, got politically active last year when it occurred to them there must be other lower income, rural, beer-drinking, gun-loving, NASCAR race enthusiasts fed up with business as usual in Washington. Viessman had a red, white and blue “Rednecks for Obama” banner made, and began causing a stir in Missouri, which has emerged as a key battleground in the run-up to the November 4 presidential election. “I didn’t expect it would get as much steam and attention as it’s gotten,” Spencer told AFP on the campus of Washington University in Saint Louis, the … Continue reading
“In my neighborhood, when you’ve got something to say to a guy, you look him in the eye and you say it to him.” — Sen. Joe Biden, quoted by NBC News, pressing Sen. Barack Obama’s challenge to Sen. John McCain for next week’s debate. Biden added a “personal touch to the idea that McCain wasn’t willing” to make attacks on Obama “in person.” H/T Political Wire.
The Dow closed at a loss of 678 points. The pain may have just started. While the markets continue to correct based on the days trading 401K’s and other retirement accounts continue to shrink. People are fearful. When will it stop? Jim Cramer of Mad Money on CNBC has advised on The Today Show and Hardball with Chris Matthews that if someone needs their money within 5 years to find a way to move to cash and do it right now. If you find yourself suddenly watching the market it may be good advice. The satirical Economist cover may be an exaggeration but not by a helluva lot.
The sister’s Sanchez have had days of waiting as their brother and his companion were missing. Today the Los Angeles Times has the story of his boat being found and both bodies being on-board. I’ve met Loretta Sanchez. She’s a strong willed person who will stand up to anyone, anywhere, anytime. Yet think of the horror of this event to both her and her sister. No one can stand up to this event without sorrow and grief. I hope we all can take the time to send physical or email condolence cards to both Loretta and Linda at their district offices.
I haven’t posted about the Gallup Daily Poll in a while, and I thought it worth noting that today’s Gallup Poll Daily tracking report “shows Barack Obama maintaining a 52% to 41% lead over John McCain, unchanged from Wednesday’s report.” Frank Newport notes: Signifying a general stability in the race, Obama has maintained a share of the vote between 48% and 52% over the last two weeks, while McCain’s share during that same time period has been between 41% and 45%. The next and final presidential debate will be held Wednesday, Oct. 15 at Hofstra University in New York. In other significant polling news, a new poll from USA TODAY/Gallup shows that “Barack Obama convinced many more viewers to think more … Continue reading
In his recent column in the NY Times, Thomas Friedman asked these very valid question about Sarah Palin and the conservative commentators boasting of her appeal: How in the world can conservative commentators write with a straight face that this woman should be vice president of the United States? Do these people understand what serious trouble our country is in right now? And Friedman’s not alone asking questions about Palin’s ability to be VP… In an interview with The Atlantic, David Brooks “praised Palin’s natural political talent, but said she is “absolutely not” ready to be president or vice president.” He explained, “The more I follow politicians, the more I think experience matters, the ability to have a template of things … Continue reading