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It’s The Economy Stupid!

September 15, 2008

Is it wisdom to put a man into office that doesn’t have a clue about the economy during a national economic crisis?  Is there wisdom in playground political antics? Even a retired economist can see the writing on the wall.

The crisis on Wall Street and the mortgage fallout is keeping the economy very much on the minds of Americans, yet the candidates have said little of substance regarding alleviating the continued decline. Senator McCain has vowed to clean up Wall Street.

Yet, as life is with the process of risk, Wall Street is cleaning itself up via the corporate marketplace through the laws of success and failure. That is the beauty of the system. No government intervention is required to prevent the consequences of poorly played systemic business risk. The exception is where the world of U.S. commercial bankers have already failed with banking instruments designed for profit, but in reality little better than a casino rumble. Strangely, the government itself is to blame for the initial concept of packaging securities for sale to investors along with the continued promotion of previously failed concepts while continuing to use the same methods and processes. The idea is that only more regulation or a tweak here or there is needed. In other words, if “we” had just done the same things a little differently, everything would be okay.

Criticism would appear to be easy as candidates and their v.p. candidates are likely to take more pop shots at each other. Take a moment and listen to the criticism. Do you hear a world of intelligence or a sentence of useful information beyond the criticism? The nation is tired of hearing playground antics in the electoral presidential race. U.S. citizens are looking for someone that has some wisdom to offer, with the idea of carrying that wisdom through into the presidency.

Democrat v.p. candidate Biden doesn’t need to call McCain out of touch. Even McCain suggests that he doesn’t know a thing about the economy. Yet, millions of Republicans are prepared to vote a man into office that doesn’t have a clue about what this nation faces or any ideas of inspiration or substance to move the country forward. Even the Republican propaganda machine wants to do little more than sell conservative books in emails to the faithful. McCain must depend on lap dogs like the Federal Reserve and the U.S. Treasury, authoritarian bodies that are more interested in covering their own hides and corporate profits than in real solutions. Americans are buying into the notion that the President doesn’t matter where the United States economy is concerned.

“I do agree that fundamentally America has an economy that is strong,” McCain said on September 15. “America’s great strength is its diversity, its hard work, its good financial statements, its broad capital markets, its enormous natural resources.” While this is true, those treasures of America do not overcome economic reality or the ability to overcome foolishness in tactics, policy and national direction. This is not the time to indulge in fantasy and role-playing games.

Remember, John McCain has already admitted that he knows nothing about the economy. That should give every American pause to think. ~ E. Manning

it's the economy stupid.

it's the economy stupid.






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