The Candidates address the economy

[desdawg]

My latest issue of Fortune Magazine arrived in the mailbox yesterday. There on the cover was a picture of Barack Obama and entitled "How I Will Fix the Economy". I remain convinced that neither one really has a grip on the situation and that no hope is in sight.
If the reporting is accurate and the articles to be believed I can say that as usual I want nothing to do with Democratic Party Economics. If I have to choose between the two I will be a McCain supporter. The McCain article speaks to running a tighter ship and nixing "pork barrel" legislation. It is more along the lines Reagan took during his time in office. Rather any of it would make it past campaign rhetoric and could actually become initiated policy would remain to be seen.
Obama's policy on the other hand would be a pure democratic party play where the motivated individual would be penalized via higher taxes for doing better than his couch potato counterpart. The entrepenuer would be penalized, we would be bailing out the sub-prime borrower and I suspect subsidizing social programs like never before. Here is part of it. The entire articles as they appeared in the magazine are not complete here.
http://money.cnn.com/2008/06/19/news/economy/fortune_election.fortune/index.htm
Click on
John McCain's economic evolution
What Obama means for business

[glenn kangiser]

First -- if they are a politician and their lips are moving they are lying.

Second - if they try to make some positive changes, business owned congress can stop it.

Third - the choices are not choices - they are offerings of allowable figureheads by the elite, big business - the shadow government.

[peternap]

Gozer the Traveler (Our President). He will come in one of the pre-chosen forms. During the rectification of the Vuldrini, the traveler came as a large and moving Torg! Then, during the third reconciliation of the last of the McKetrick supplicants, they chose a new form for him: that of a giant Slor! Many Shuvs and Zuuls (Us)knew what it was to be roasted in the depths of the Slor that day, I can tell you!

[peternap]

Barack Obama For President

[peternap]

McCain For President

[desdawg]

Nice. I just mentioned it because it was the first time I recall anyone actually interviewing these characters about anything to do with the economy. Yup, their lips were undoubtedly moving but not much because they don't know what to say. The American Sheople amaze me that they have become so blinded they would go to all the trouble to nominate candidates with no knowledge of this particular current affair. This is the thing that is in everyones face day in and day out and it seemingly hasn't become a campaign issue.

[muldoon]

we spend more than we make.  not too hard to figure that out.  the solution is not to continue spending more than we make as that exacerbates the issue.  The solution is also non-negotiable, meaning I dont think we have a choice in it.  We can either make steps to change ourselves (at a personal level, local government level, or federal level, and corporate) or those steps will be handed to us.  Look at budget issues affecting many US counties now, extrapolate this to the state level in the coming 6 months, look at the failed treasury auctions going on now, notice the fed rate is actually trading at ( http://www.ny.frb.org/markets/omo/dmm/fedfundsdata.cfm ) last two days have been 2.5 to 3.7, much higher than the 2% target.  the cost of money will get more expensive and force these changes upon us.  obama doesn't seem to understand the problem, he seems to think the solutions we used the past 80 years to reverse slow economies will solve it again, the playbook has changed and now the "old solution" of increased gov debt is the problem. 

Actually I dont believe he doesn't understand.  All this talk is noise, its grandstanding, its telling people what he thinks they want to hear in an election year.  It doesnt have a chance in hell of actually working, nor does it have a reasonable chance of even getting off the ground in the first place. 

Another example, everyone knows the Trans-Texas-Corridor project is being planned to connect Mexico and Canada.  Turns out last week the project was scrapped because they are unable to fund it with new bonds because the debt market is dead dead dead and private investors are dropping as they are getting hammered from every direction these days. They went from a 10 lane toll based highway, with 6 rails, O&G pipeline and electric service to simply using existing interstates I69 and I59 without anything else added.  These massive spending programs from the government wont be possible because the rest of the world simply wont let us keep the imbalance going in the face of increased defaults.  Right now were the proverbial 52 year old truck stop waitress with a 5/1 option arm mortgage on a 600k house.   Our currency will continue to devalue (we get poorer as I called it before) until this is fixed.  It will correct either way, we dont exactly have a choice. 

[glenn kangiser]

Speaking of the two unacceptable choices,

Obama Seen as Muslim Overseas.

http://www.americanthinker.com/blog/2008/06/obama_seen_as_a_muslim_oversea.html