Democrats must love all this!

THE ECONOMY HAS TANKED, AND OBAMA’S LEADING IN THE POLLS

On October 30, 1929, the day after the great stock market crash, President Herbert Hoover, a conservative Republican declared that “The fundamental business of the country … is on a sound and prosperous basis,” Boy was he ever wrong.

While Hoover may not have been quite the economic dolt history has tagged him with being, his fundamental misunderstanding of the crisis in which America found itself that morning showed the disconnect between the Republicans of that era and the reality of the world at large.

Somewhere between the Presidency of Abraham Lincoln and that of Herbert Hoover, the Republican Party became the political home of big business. Republicans of Hoover’s era were in favor of low taxes and high tariffs. Part of that conforms with today’s members of the GOP, the other part doesn’t. Republicans in this century still love low taxes for themselves, not for Jane and Joe Lunchbucket, mind you, just for themselves. They no longer, however, believe in protectionism.

Rather, they have concluded that shipping the manufacturing and service segments of our economy overseas, the big corporations will lower their costs and increase their profits. What they neglected to realize is that in order for those mega companies to make their filthy lucre, they need customers, and when those prospective customers are out of work, they ain’t buying diddly squat.

And when the aforementioned Joe and Jane Lunchbucket can’t afford to purchase anything more that the bare necessities of life, the economy comes crashing down around us.

So in the midst of this crashing down that is the result of the failed policies of one of the worst Republican Presidents in our history, what does the Grand Old Party do? They do just what you would expect, them to do. They nominate John McCain to become the successor to George W. Bush.

And, of course, just as that crash is occurring, at a time when the Dow Jones Average is dropping at a rate of nearly 500 points a day, what does Senator McCain have to say about the crisis? ” ‘The fundamentals of our economy are strong,” were the words that came flowing forth from the GOP standard bearer’s ruby red lips.

After the Republican National Convention, and John McCain’s announcement that Alaska Governor Sarah Palin would be his choice for the Vice Presidency, the Republicans got a bounce in the polls. Many pollsters, in fact, showed McCain in the lead. His lead was remarkable when taken in the context of the least popular exiting President in memory and the failing economy. Yet, there he was with his Tina Fey lookalike VP candidate, leading Senator Obama in the polls.

“Impossible,” my friends said. They all reached out for the data that showed McCain to be less bright (if that’s possible) than the current occupant of the White House. They all said that Palin had no experience and was so far to the right that the Republicans couldn’t possibly be considered as serious contenders this year. Yet, there they were, very much in the lead.

I told my friends not to worry. I told them that the situation would soon resolve itself. They didn’t believe me. I saw something that they didn’t see. I saw an upcoming implosion of the team of Tweedle McCain and Tweedle Palin. And sure enough, it came.

One day it was Sarah Palin telling ABC’s Charlie Gibson that she had no idea what the Bush Doctrine was, and the next it was John McCain at a GM plant telling the workers that the economy was fundamentally sound. The fluff was gone, and the lipstick was off the pig. America began to realize that McCain had inadequate abilities to deal with this impending crisis and Palin only knew how to use her tanning bed while wreaking vengeance on her former brother in law.

One of the first jobs I had when I got out of college was as an assistant buyer for a New York department store. The manager at that store once explained to me that when crisis hits, there is only one thing to do. He said, “In emergency times, we do emergency things.” To John McCain, that seems to mean that the way to deal with these emergency times is to give further tax cuts to the pickle pusses who created the crisis in the first place. To John McCain, that means we reward the failure of corporate heads at the expense of the working population of our country. John McCain, you see, hasn’t figured out that the trickle down economy of Ronald Reagan never did trickle down. John McCain just thinks everything is fundamentally sound.

During a previous economic crunch, when George H. W. Bush was running for reelection, the upstart Democratic candidate, Governor William Jefferson Clinton of Arkansas put the whole thing into perspective when he said, “It’s the economy, stupid.”

John McCain hasn’t gotten that point. John McCain still hasn’t figured out that it’s still the economy, stupid. The problem for Senator McCain is that the rest of the country has.

McCain seems to still believe that he can lie about Senator Obama’s position on sex education and win over the population to his side. John McCain thinks that he can distort remarks by the Democratic candidate and be believed by the voters. John McCain is wrong. People are beginning to get it, and, as they get it, John McCain’s numbers are likely to go into free fall.

That’s very important because John McCain is threatening to take us back to the era of Ronald Reagan, the President who began the destruction of everything President Franklin Delano Roosevelt did to bring this country back from the throes of Herbert Hoover’s depression.

But there is one more thing that is similar between the administration of Ronald Reagan and a possible McCain Presidency.

As we all know, Ronald Reagan died as a result of advanced Alzheimer’s-Disease. As one who has witnessed the devastating effects of this illness on several occasions, I can tell you that its progression does not occur over night. It happens, generally, over a period of years.

By Reagan’s second year in office, his illness began to take over. He was, in all likelihood, not much more than a figure head for the final 4 to 6 years of his time in office. Fortunately, for better or for worse, his Vice President, George H. W. Bush, was a skilled enough politician to keep the country on an even keel with a nominal President who probably could no longer reason for himself.

In looking at John McCain, I see many similarities to Ronald Reagan at approximately the same age. If I am right, it is conceivable that early in his Presidency, John McCain will lose the ability to govern effectively. The only problem is that he will not have a Vice President of the ilk of the senior Bush. McCain will have Sarah Palin in the second chair. He will have a Vice President who, as of last week, had never met a world leader, had only travelled outside of North America once in her life and who thought that she knew all about Russia because it can be seen from parts of her state of Alaska.

Imagine, if you will, an incapacitated John McCain leaving Sarah Palin, who had to attend 6 different colleges to get a BA, in charge. Imagine where diplomacy will be headed if a woman who likes to use automatic weapons to shoot animals from airplanes has her finger on the nuclear (not knew cue ler) button. It’s really something I’m sure you would rather not imagine.

But if John McCain becomes President, it is truly a real possibility.

So, let’s see what we have here.

1. A candidate for President that finished 5th from the bottom of his class at Annapolis

2. A candidate for Vice President who attended 6, count ‘em 6, colleges to get her BA

3. The top two positions on the Republican ticket occupied by people who have no understanding of the basic rules of economy at a time of economic meltdown

4. A Vice Presidential candidate who has never met a world leader

5. A Presidential candidate who is exhibiting signs of early stage Alzheimer’s

All told, not a very encouraging situation for The Republicans.

No wonder Obama is rising in the polls.

Now, if we can only stop the expected attempts of voter nullification and out and out cheating that we know the Republican Party does better than any other group currently existing in the world with the possible exception of the Middle East, Barack Obama will be our next President.

Or not.

http://www.recoveringliberal.com/

 

Yep. Obama in the lead has Japan down another 10% today. Brilliant insight.

 

Asia has been discounting protectionism via Dem Congress. They've been big net sellers of Treasuries the past week also.....

 

LOL! Yep. That's it. Those pesky Dems!

 

The post on Herbert Hoover reminded me of the Biden blooper with Katie Curic. Did anyone else catch it? Biden saying what we need is like FDR did when the stock market collapsed in 1929 and he went on TV to reassure the American public. ROFLMAO!!! FDR!!! WTF...On TV !!!! WTF..and what does Katie do, just glosses over it and moves on. Either Katie is too ignorant of history and couldn't figure those two problems out and ask what the hell he was talking about like she did with any answer Palin had, or maybe she decided it was time for another pass for the "good guys". I hate election season and I love election season, it brings out the stupid in soo many people, yet can be very entertaining.
If only we would tell the crap in D.C. to rot in hell, we want to start over with some honest people! That applies to both parties before the baloney blamers pick a party to harrass.

 

Delusional view you have there.

 

yeah right.

you fuckers seem to suffer from a virulent form of cognitive dissonance.

I'm sure you were abducted by aliens for the 8 years of republican presidency and 12 years of republican congressional majority.

Enron didn't teach you one thing. Let's keep on "deregulating" everything mother fuckers.

While you were busy deregulating everything, you also conveniently removed all proper investigative powers from the regulatory agencies.

why does the SEC suck. Cause you made it into wall streets bitch.

Now that the aliens have brought you back after a decade of abduction.

well, welcome back to the SHIT HOLE republicans created.

 

Yeah exactly. Long bonds look one of the most overvalued assets in the world *unless* there is a Depression. Bernanke is a Great Depression scholar and will IMO always choose inflation risk over deflation/depression risk. Politically it's the easier option. Add to that the likelihood of massive increase in sovereign debt levels due to recapitalising/nationalising half the banking system, and bonds could have a real collapse.

When a market trades can't sustain rallies on good news, then starts trading lower, it's in potentially serious trouble.

 

Anybody with an ounce of sense can see where the cog dis resides. With those who can't utter a sentence w/o profanities, maybe?
The truth is slowly coming out that the democrats nagging of banks and changing of rules at gse's resulted in 49% of the 12.5 million new homeowner loans being made to minorities, and democrats locked arms preventing anyone to get in the way of this "social progress". Because, after all, that's what progressives stand for, isn't it?
Now, we the people, ha ha, own those loans, and there ain't a chance of gettin a fair return on our investment.

And progressives like this goy here think the loans were made because republicans were out to see just how many minorities they could saddle with loans that couldn't be paid back .
Now that's not only cognitive dissonance, it's downright psychotic.