We are only days away from the most scary important presidential election of our lives. And, it’s getting more and more ugly with each passing day. So…For the sake of my sanity, and yours, let’s have a little chuckle.
Saturday Night Live Video – George Bush Endorses John McCain and Sarah Palin
Shocking! Today, Allen Greenspan admitted that the deregulation of banks was a mistake.
From The Associated Press…
From Wonkette…
So here are three major factors that contributed to our country’s world’s current financial misfortunes: prolonged periods of historically low interest rates (even negative real interest rates), the complete deregulation of such derivatives as credit default swaps, and encouragement from Washington that the inflated housing boom was nothing to worry about. It’s rare that you can pin so many large factors on one person, but, well, former Fed chief Alan Greenspan set the low interest rates, led the pressure on Congress to keep derivatives markets wholly deregulated, and was the voice from Washington that said everything was fine.
From Rachel Maddow…
I always felt like Allen Greenspan had some kind of “God Complex” when it came to the economy. I never understood why we gave one guy so much power over our economy (especially, for so long). It now seems obvious, that this was a bad idea.
What do you think? How much blame can be put on Greenspan for our economic crisis? Does he gets points for admitting he made a mistake? Let me know what you think in comments.
Here is a guest post by community member Emily Kronenberger…
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Many people, like myself, feel that the way in which a society supports its most vulnerable or disenfranchised citizens is a critical indicator of how healthy that society is, and where it is headed in the future.
The issue of disability policy and the improvements that are necessary to elevate the quality of life for children and adults with disabilities in this country has rarely made it into the mainstream discourse during this election. Unfortunately, this is not surprising as individuals with disabilities are typically excluded from the larger social and political environments, both by actual physical barriers and by traditional social practices in our society which make them invisible.
Here is a guest post from community member Onedia Hayes Sylvest.
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Last November 26 as the race for nomination began in earnest I posted an Open Letter to the Candidates. I think it relevant that I now post it again with a few additions highlighted in bold.
Well, since it is here and easy to step onto, I am pulling out the soapbox this morning. This is an open letter to all the presidential candidates about what I want from my next president. Here it is not in priority order since I don’t want to make this too hard:
Here is a guest post from community member Marcia G. Yerman, who also blogs at The Huffington Post.
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Like everyone else in America, I was waiting to see how the match up between Palin and Biden would transpire. Beyond the giddy atmosphere that was building (somewhat between a sporting event and a game show), was a deeper, darker space. It was a low, wide valley occupied by symbols and ambiguities of murky distinctions — the roles of gender and race in the 2008 election.
Those specific issues were discussed and debated at a two-day symposium at St. John’s University. As
I sat down to watch the two Vice-Presidential contenders, the presentations of the conference’s speakers reverberated in my head.
Presented by the university’s law school, there was a heavy representation of scholars focusing on media and law, election law, and legal theory. In addition to those emanating from the academic world, there was a cross section of journalists and activists.
Perspectives on Gender in the 2008 Elections; The Role of the Media in Shaping Perceptions of Race, Ethnicity, and Gender in the 2008 Elections; The Intersectionality of Race, Gender, Media, and the Political Process; A Dialogue on Legal Constructions of Race, Gender, and Identity in the 2008 Elections, were some of the panels which I attended.
The concerns that had been come up earlier in the election season got turned on their heads once again with the placement of Sarah Palin onto the McCain ticket. Charges of sexism, reverse sexism, populist feminism, anti-feminism — and permutations on the theme — were doled out in abundance. Prominent in the mix was the role of the media, both amplifying and exacerbating misconceptions to the public.
Here is some post debate media and blogger reaction. If you want to see what I thought, check out this link, that also has the full video of last night’s debate. I am very interested in what YOU thought. Who won? Who lost? Are you sick of hearing about “Joe” the plumber? Who do you feel will do better fixing our economy? What about health care, taxes, and jobs? Let me know what you think in comments.
From David Gergen on CNN…
Maddow on McCain’s Snide Remark about Women…
Here is the full video of the last presidential debate before the 2008 election. What did you think? Who won the debate?
My thoughts on McCain’s performance…
My thoughts on Obama’s performance…
That’s what I thought. Well, I have to admit, most of the time I was just thinking…
So, that’s me. What did you think?
So, what are the candidates plans for the economy?
Yesterday, the McCain campaign put out another “economic recovery” plan, that appears to push policies that will not benefit the middle-class at all. In fact, in a deceptive move, McCain is slipping in a policy that the Republicans have been trying to pass for years with no success. John McCain is claiming that capitol gains taxes need to be cut in half to help the economy. What? Maybe you think that’s no big deal, because most people haven’t made any capitol gains this year? Well, for one, if anyone did make capitol gains this year, they are the very rich (maybe even some of the same people that contributed to this mess). And, two, the economy will recover, and this is just another tax break for the rich, this will not help the middle-class one bit…Unless, you are still buying the whole trickle down thing.
Here is Rachel Maddow on the recent history of the McCain Economic Policy.
What about the Bailout?
President Bill Clinton in Richmond…
President Clinton campaigned for Democratic presidential candidate Barack Obama in Roanoke on Sunday evening, exciting a crowd of thousands with his praise for Obama’s commitment to policy change.
At the outdoor rally at the City Market in downtown Roanoke, Clinton said that Obama had the instincts to be president, citing his plans for financial recovery and proposals for health care reform.
“Barack Obama and Joe Biden are going to win here on Election Day with your help,” Clinton said. “For the first time in 40 years, Virginia will be a Democratic state. We have a chance to fundamentally change the direction of the country.”
Hillary Clinton in Scranton with Joe Biden…
It’s obvious that more economic relief is needed to help the middle class. Speaker Nancy Pelosi, announced her proposed stimulus package earlier today…
House Democrats will propose a new stimulus package to “rebuild America” and “help the middle class,” Speaker Nancy Pelosi, a California Democrat, announced Monday.
The package will have some of the same features as one passed earlier by the House but rejected by the Senate, she said, including “aid to the states” on healthcare, food stamps and unemployment.
From The Washington Post…
Determined to keep the campaign spotlight on the economy, Sen. Barack Obama has added $60 billion in new tax breaks and other benefits to his economic stimulus plan, and will urge Congress to act quickly after the election to provide middle-class relief.
While his opponent, Sen. John McCain, has reportedly considered but not yet spelled out additional economic recovery steps, the Democratic nominee is expected to outline several new proposals at a speech here this afternoon. They include:
Obama also will raise the prospect of government aid to the automobile industry and more aggressive government action to help banks and free up consumer credit. He has already outlined benefits such as a middle-class tax break — delivered immediately in the form of a check — and small-business incentives that total about $115 billion over two years.
The Toledo speech coincides with a meeting of House Democratic leaders this morning to discuss action on a stimulus bill when the chamber reconvenes, as planned, after the election.
Also See:
What Is a Fiscal Conservative and Who Are They?
On the brighter side of the economy – Dow Takes A Giant Leap…
Last week’s gloom turned into euphoria as investors sent the Dow Jones Industrial Average up 11%, the biggest one-day gain since 1933. It was the fifth-largest percentage gain ever, and it came immediately after an 18% weekly decline, the worst such drop in the Dow’s 112-year history.
The head-snapping shift in sentiment, spurred by global plans for governments to rescue banks through direct capital injections, left investors debating whether this marked the end of the past year’s frightening bear market, or just a temporary respite.
So. What do you think? Do we need another economic stimulus plan? Is this plan going to be good enough? Let me know what you think in comments.
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