Last Night’s “Debate” Clinches It; I am Writing in Romney!
I have become so disgusted with listening to that third-rate nominee, John McCain, and his asinine prescriptions for what ails the financial markets, his moronic spending plans to “stimulate” the economy, his insistence that he will cut taxes, balance the budget, save the planet from global warming and usher in a new era of prosperity, that I didn’t even bother to watch the debate last night. This coming from a self-described political junkie. I went to bed at 8:30 PM after I finished reading the Wall Street Journal. I got 8 hours of sleep and was out jogging this morning by 6 AM. And, you know what? I think I spent the time wisely. I can get BS anywhere, but when you read the WSJ, you get real information that you can put to good use. Listening to McCain/Obama fill the air with empty words is an ongoing exercise in futility.
Here’s the real scoop. The country is broke. It will take us years to dig out of this. McCain will utterly fail, if by some miracle he gets elected. This will happen because he has made it clear that he doesn’t understand the process and is hopelessly out of touch with the electorate.
Obama will utterly fail if he gets elected, which looks more likely day by day. He does not understand the process any better than JM and he is a much better communicator. Therefore, he wins by default.
I read in this morning’s Journal that McCain proposed $300 billion in ADDITIONAL SPENDING to help the real estate gamblers that are in over their heads. The $300 billion ain’t there. It ain’t gonna be there unless the Fed prints it. All the other countries that we have turned to in the past to help us fund our federal deficits are up to their waists in alligators, so don’t expect their checks in the mail.
This election is turning into a disaster. We have got a clueless candidate on the Pubbie side who is running one of the worst campaigns I have ever seen, who should have Obama on the ropes by now, given Obama’s leftie politics and leftie pals. But no, Obama is leading in the polls, because JM is just way too “noble” to go after Obama’s glaring weaknesses. We have a hard left candidate on the Dem side who is going to send checks to the folks who have long ago been taken off the tax payer rolls. They haven’t paid federal taxes for years, but under Obama’s plan, they will get a “tax cut.”
This election seems like something out of Alice in Wonderland. Almost nothing either one of them says makes any sense. If they are that naive, it is scary. If they are that dishonest, it is scary.
The world’s stock markets have been voting early on all these ridiculous bailout plans and on the likelihood that any of this stuff will work. The markets have lost $2 trillion as a result of the wonderful leadership that has been provided by our esteemed political and financial mavens. BTW, did you catch the story on how your tax dollars are being spent by the folks over at the failed AIG? After, after, mind you, they received $61 billion of the $85 billion in tax payer bailout money, they treated themselves to a little holiday at a posh California resort, to the tune of $440,000, $23,000 of which was spent on “spa treatments.” Spa treatments. You and I paid for it. McCain and Obama want more.
That is why I am going to call my local Board of Election to find out exactly how I can cast a write in vote on Nov. 4. I want to make sure I do it right. I want to make sure Mitt Romney gets credit for my vote. I want to make sure the political class gets the message loud and clear. Now, some may say, John, you are wasting your vote. No I’m not. I will get roughly the same policies out of Obama as I will out of McCain. As of this morning’s headlines, it no longer makes any difference. I was willing to hang in their with McCain as long as there was a chance, however slender it was, that he might put a little daylight between himself and Obama. Now it is clear that won’t happen. So, I am going to write in the name of a man who has the moral clarity to defend life from cradle to eternity, who has the competence to help rebuild the wreckage that was once the economic envy of the world and will keep our military strong in a very dangerous world and that man, of course is Mitt Romney.
~~John Cronin~~
October 8th, 2008 at 9:55 am
I’m already resigned to do the same John. But for me it was less of a struggle because I’m in Utah and McCain is clearly going to wipe the floor with Obama in Utah. But I’ve decided to write in Romney to sort of “register my complaint”. It’s not Romney or else for me, but McCain was not one of my acceptable candidates. I would sincerely hope more for Huckabee, whom I almost consider a mortal enemy, over McCain, whom I consider to be just plain wrong.
If I were in Missouri I may have to consider more. If it had in inkling of being close I would vote for McCain.
October 8th, 2008 at 10:32 am
Ditto! Ditto! Couldn’t agree with this article more. Another question I have is why McCain isn’t getting mad and going after Obama more?! That debate was just two Senators and zero REAL leadership.
October 8th, 2008 at 10:33 am
So, your answer is to vote for a supporter of terrorism??? wow
October 8th, 2008 at 10:34 am
By the way, I am in Missouri.
October 8th, 2008 at 10:39 am
So, many of you remember I live in Minnesota. Well, McCain is coming to my home town Friday for a town hall meeting. It’s literally going to be two blocks from my front door at the local high school. At first I’m excited because, after all the hemming and hawing, I can go give the man a listen first hand and maybe get excited about this campaign (Palin will not be joining him, safely campaigning instead in “Red” states). When I inquire about getting in, I’m told only ticketed people are allowed. How do you get your ticket? You have to call 50 people in a phone bank, and then volunteer for a get out the vote door knocking. That is pretty shrewd, but here’s how it plays in my mind.
1. I’m not going to call 50 people and argue for McCain. I’m not comfortable with him yet to the point that I’ll defend him to others.
2. This assures a friendly audience in the town hall meetings. This makes me wonder how myopic McCain’s perception of the electorate is if he is only interacting with friendly (ergo committed) crowds.
So instead of letting in a fence sitter like me or my independent friends to get a chance to be won over, he chooses instead to preach to the choir. That is not a winning strategy coming from behind (and falling further behind every day) this late in the game.
I’m not impressed. I’m not going. And I understand why Nate and John feel the way they do about writing in Romney, particularly after listening to how well he fielded questions on all the major news outlets both before and after the debate on matters economic.
Can we get a Mulligan here folks? A do over?
October 8th, 2008 at 10:48 am
McCain’s Top Gun Strategy . . . Sun Tzu Revisited, Volume 4 – Greatest Hits for losing an election . . .
By Stephen Wood
Here is my take on what Sen J. McCain, self designated call signer – Maverick – should have done. My 8 step program, er, rules of engagement, probably could have won Maverick the election.
Oh, well – maybe its not too late. John, the Russians are coming . . . the Russians are coming . . .
Rule 1 – Last Nights Debate
Tom Brokaw: Excuse me, Lieutenant (senator McCain). Is there something wrong (with the economy)?
Maverick (Senator McCain): Yes ma’am (Tom), the data on the MiG (American Economy) is inaccurate.
Tom Brokaw : How’s that, Lieutenant (Senator McCain)?
Maverick (Senator McCain): Well, I just happened to see a MiG 28 (the crash in 29’) do a…
Goose (Palin) We!
Maverick (Senator McCain): : Uh, sorry Goose (Sarah). WE happened to see a MiG 28 (the great crash in 1929) do a 4g negative dive.
Tom Brokaw: Where did you see this?
Maverick (Senator McCain): Uh, that’s classified.
Tom Brokaw: : It’s what?
Maverick (Senator McCain): It’s classified. I could tell you, but then I’d have to kill you.
Rule 2 – When in doubt – suspend your campaign.
Maverick (Senator McCain): I’m gonna hit the brakes and he’ll (Barry) fly right by.
Merlin (Cindy McCain and the rest of the Republican Party): You’re gonna do WHAT?
Rule 3 – When in doubt – consider repeating Rule 2 – especially after blowing your lead after the Republican primary
Merlin (Cindy McCain and the rest of the Republican Party): What are you doing? You’re slowing down, you’re slowing down!
Maverick (Senator McCain): I’m bringing him in closer, Merlin (Cindy).
Merlin (Cindy McCain and the rest of the Republican Party): You’re gonna do WHAT?
Rule 4 – Correctly assess the situation
Jester (Karl Rove): That was some of the best flying I’ve seen to date - right up to the part where you (your Presidential campaign) got killed.
Rule 5 – Beware of a political opponent who compliments you
Hollywood (Barrack Obama): Gutsiest move I ever saw, Mav. (John)
Rule 6 – Rules are meant to be broken by Mavericks
John McCain announcing that election rules be dammed. He and Sarah will be back to give it another shot in 2012.
Charlie (Sarah Palin) Hello, Pete Mitchell (John Sidney McCain III). I heard the best of the best were going to be back here, so uh…
Maverick (Senator McCain): This could be complicated. You know on the first one I crashed and burned.
Charlie (Sarah Palin) And the second?
Maverick (Senator McCain): I don’t know, but uh, it’s looking good so far.
Rule 7 – Insert at will in between any of the following rules.
Goose (Bush) Come on, Mav, (Mac) do some of that pilot s%@#!
Rule 8 – Follow all of the Rules – Mavericks don’t wimp out!
Maverick (Senator McCain): Too close for missles, I’m switching to guns. (Figures, we knew all along that McCain was a softy)
October 8th, 2008 at 11:28 am
A waste of a vote is a ballot case for either McCain or Obama. I could hardly watch the “debate” last night either; I’m not sure why we even need another one. What about IMMIGRATION? A lot of talk about helping the middle class, but explanation of how increasing the supply of cheap labor and driving down wages for low-wage workers is a benefit to the middle class….
It took 4 years of Carter to get Reagan. I think we need 4 years of the Obamessiah to get Romney.
And Ron Paul as V.P.???
October 8th, 2008 at 11:41 am
I have just sent for my Absentee ballot. I plan to write in Mitt Romney on it.
The day before the election, I’ll either mail it in, or wait for election day to pull lever for McCain.
If MaCain looks like he’s going down the drain, I’ll mail in Ballot. If McCain looks possible, I’ll select him.
I am prepared to go Absentee ballot for Mitt, Just incase my states Electronic voting doesn’t allow/permit/accommandate write-ins.
I may also attempt to write in Mitt on election day to see if my state allows that. One of my two votes would be discarded later.
If you have ANY doubts you states electronic voting will not allow write in, get absentee ballots now!
LeEric
October 8th, 2008 at 11:48 am
I read the article at the bottom of this email which expressed what was already in my heart and mind. A vote for Mc Cain or Obama is a wasted vote. Both will change the government for the worse! Why stab myself in the back? Why because I can? Why vote for either of these two losers just because I can vote.
Obama and Mc Cain supporters are just kidding themselves. They are two of the worst candidates of all time. Their campaign successes are products of the mainstream media and the MSM desire to see our choice limited to these two. So like the article says, I agreed I should write in somebody better.
I thought I would write in the only candidate that I felt could really fix America, Mitt Romney.
I called my local elections office. They are just another example of government ineptness! Here is what they told me about writing in a candidate.
Write in candidates must be submitted by Oct 21 and approved by the State for that write in vote to be counted. BUT because I am voting by absentee ballot which were sent out the week of Oct. 6th any write in candidate vote will not be counted, the name will not even looked at or recorded.
Even write-in ballot candidates that are eventually approved after the Oct. 21st deadline would not be counted due to the date of the mailing! Why couldn’t the smart-ee pants in government figure out a remedy for that conflict in voting rules? At least do what they publicly say, “Error on the side of votes being counted”.
I do not care if you are writing in Mitt Romney, Hillary Clinton, Ron Paul or someone else, that vote should be counted!
If you too are sick of the ineptness of government do what I will do this election. Write in Mitt Romney, Hillary or whomever on the absentee ballot. I will then make a photo copy, digital picture, scan and fax or email the write-in ballot to newspapers, radio stations, tv stations, local election offices, or whomever could or should care to fix the government.
Our country, government and society will never get better if remain sitting on our hands. We owe the five minutes to do this to our kids and grandkids who are inheriting this mess.
October 8th, 2008 at 12:03 pm
Hear! Hear! I’m going to write in Romney, too! I just hope thart Romney will run again in 2012. God help us for the next 4 years though, no matter who wins!
October 8th, 2008 at 12:05 pm
My wife and I are also writing in Mitt!!!
October 8th, 2008 at 12:20 pm
John: I feel the same. I love your comments. I only saw five minutes of the debate, got a little nauseous, and turned it off. It felt more productive to do laundry and put up a Yes for Prop 102 (Yes for Marriage in Arizona) sign in the front yard.
Whatever the outcome of this election, I’m refocusing my political efforts to the following:
1. Becoming more involved locally with everything from local races and props to Boy Scouts and being a positive, good influence at the kid’s school. Change will happen from the ground up.
2. I’m storing up food, gardening, and cash for the tough times ahead. “Be Prepared”. Learn how to feed 5 people for a dollar and turn lemons into lemonade.
3. Focusing more on the family. Teach my kids hard work and ingenuity, eliminate wasteful spending at home. “Sorry kids, we can do without McDonalds- more than twice a week.”
4. Adopting a soldier- sending packages.
5. Get a good laugh by watching An American Carol! Go see it.
The Depression didn’t kill our Grandparents. It made them stronger. There have been times in our nation’s history when the government has been drastically wrong. But the underlying, founding principles and values based in our Constitution and Declaration of Independence are the best on God’s green earth.
October 8th, 2008 at 12:26 pm
Thanks John, love the post and the comments.
I came here today to say that I think the McCain campaign is floating Romney name for a cabinet position to draw Romney votes but I think Romney and McCain are barely speaking as evidenced by Romneys reaction to McCain 300million bailout for mortgages. Apparently Romney was not aware of McCains latest effort to buy votes. Game over. Romney 2012
October 8th, 2008 at 12:35 pm
Good comments, all. I understand and am feeling disgust and frustration, too.
I know we could survive an Obama presidency. However, the ECONOMIC glove has many fingers, but ENERGY is the palm. McCain /Palin are stronger – not perfect – on COMPREHENSIVE energy independence. Palin has a grasp of the OIL industry, more so than McCain, Biden, or Obama, and can exert influence in congress to drill in ANWR. Four years of an Obama administration focusing on windmills and tin-foil solar roofs gives us four more choking years in the strangling energy noose – four precious years lost that we desperately need to extricate ourselves from continually bowing at the feet of sandaled kings for oil when black gold is sleeping beneath Alaskan soil and off our shores.
McCain/Palin would be stronger on illegal immigration – not perfect – but stronger than Obama. California spends 11 billion per year on illegal immigrants. We’re bearing the burden of the nation’s “red-rover-red-rover-send-illegals-right-over” border policies and guess what? We’re BANKRUPT. Mexican mafia, drug cartels, and terrorists sashay into America and one way or another, THIS ISSUE IS GOING TO EXPLODE JUST LIKE THE ECONOMY HAS.
McCain is a liar and his campaign is poorly run. For now, he’s better than Obama.
October 8th, 2008 at 1:29 pm
John, I too am very disappointed with Congress’ action last week. I am more sure than ever, after last night’s debate, that McCain won’t do anything right in the White House. He will make a huge mess of our economy. However, I need to point out that Romney did declare he is for the bail-out bill, after it was passed. I saw it on news on the night the bill was passed. I was very, very, very disappointed in Romney saying that it was a good bill that would go a long way in recovering our economy. Yes, he said something along that line. Thought you should know of this, and this from a solid Romney supporter.
October 8th, 2008 at 1:35 pm
http://www.huffingtonpost.com/2008/10/08/david-brooks-sarah-palin_n_133001.html
David Brooks on the Republican Party
October 8th, 2008 at 4:17 pm
I have always been a Romney supporter until I do some research on Ron Paul. If you believe the Constitution is inspired, Ron Paul takes order from the Constitution and have lived a truly selfless life. Romney’s support for the bailout bill which allows the government to take control of the free market has lost me as his supporter. I will join his camapaign for liberty to take back our country.
October 8th, 2008 at 4:18 pm
clarification- Ron Paul’s campaigh for liberty.
October 8th, 2008 at 4:28 pm
All:
Thanks for your comments. I have been wondering, too, about the elephant in the room that is being studiously avoided, namely illegal immigration. These craven politicians don’t want to offend the criminal vote, evidently.
Mitt’s support of the bill, IMHO, is a classic hold your nose and come to the realization that this porked up bill was the best you can get out of the third rate politicos who are currently populating the U.S. Congress. I am coming to the conclusion that, with rare exceptions, incumbents should be swept away by the voters. We will turn the House over every two years, if that is what it takes, the Senate every six years, unless an incumbent Senator really p****s us off and then we will recall his or her sorry a**!
October 8th, 2008 at 4:45 pm
Mitt supported the bailout bill, because it was the only thing out there as a solution. If Mitt sat down and put a team together; I am positive that he would have found a proper solution to our current financial crisis. However, Mitt is not the nominee. He is just the surrogate and is playing the role of the loyal soldier.
Anything otherwise would be perceived to be undermining the McCain campaign and would cost him crucial support from the party leaders in 2012. Mitt has to think of the long term. Mitt didn’t vote for the bill. He’s not in the congress. So his choice to SAY that he supports it really means nothing. I imagine it would be very different if he had to make a decisive decision on the matter.
October 8th, 2008 at 4:51 pm
Don’t bail on Mitt because of his support of the rescue package. Nobody’s happy about what has happened, and you may not fully understand the depth and breadth of the mess that has befallen us. Like Governor Romney has said, this is no time for finger pointing. We need to roll up our sleeves and start fixing the mess and above all we need to get the credit markets moving again. The rescue package is an imperfect instrument, but unfortunately the administration is right, this is the only stick big enough to have a chance.
October 8th, 2008 at 5:03 pm
ROMNEY WRITE IN FOR ME TOO ….. MCCAIN LOOKED BAD .
October 8th, 2008 at 5:06 pm
Cronin, my boy. You got this 100% correct. Your best post yet. Man, I’m starting to agree with most folks on this board! I guess my work here is done, huh?
October 8th, 2008 at 5:08 pm
CHRISTINE , WITH ALL DUE RESPECT , RON PAUL IS A JOKE ! PLEEEEEEEEASE DON’T MENTION HIM IN THE SAME PAGE AS MITT ROMNEY .
ROMNEY 2012
October 8th, 2008 at 5:51 pm
Write in Romney. That’s the only way!!!!
October 8th, 2008 at 6:52 pm
No John, a wasted vote is a vote for either Obama or McCain. It’s a lose-lose situation!
Welcome to the “write in Romney” club.
October 8th, 2008 at 7:34 pm
Amy. The country is broken. Whom ever we vote for is wrong at this juncture. So, now the question is how do we get back on track. If we elect McCain, it will take us easily 12 more years of this crap taht gave us McCain in the first place. OR, we resign ourselves to Obama for 4. work on the down tickets and get Obama out in 4 with a REAL conservitive candidate.
Sorry we have to suffer. But McCain knew the score when he allowed Huckabee to help double team Romney.
October 8th, 2008 at 7:55 pm
Let’s face it–McCain dislikes Romney! It was foolish to beleive that McCain was considering Romney for VP–Chris is right saying that McCAin teamed up with Huckabee to sabotage
Romney. Well-this is where we are now-but it looks like McCain is going to his grave without being president. I have also tried to side with McCain–but there comes a time when you have to be true to your own principles.
October 8th, 2008 at 9:05 pm
I have tried to get behind McCain, but he has done nothing to give me any confidence in him. I will write in Romney’s name, and pray that he runs again in 2012. In the meantime, I hope that we can clean out all of the self-serving garbage that currently inhabits the Capital, and start fresh with some competent public servants.
October 9th, 2008 at 2:55 am
Great comments up and down the line.
It’s time to cut our losses. We busted our a***s to try to save the country from Comrade Obama and Maverick, but the political rocket scientists in this country just had to nominate two financial incompetents at a time when the world’s financial system is melting faster than Al Gore’s polar icecaps.
Remember that old expression, you made your bed, now you can lie in it? This is what the voters who rejected Romney wanted, now….enjoy.
As for me, the 2012 campaign started on Oct. 8, 2008.
October 9th, 2008 at 4:04 am
Thats it! I am writing in Romney too! Why vote for someone who teamed up with Huckabee to keep the best person from getting the nomination? He robbed us of the best President we couldve had in years and because of his desire for power will do anything to get elected. He is humiliating himself and looking less and less presidential, he deserves everything he gets, even if it is a crushing defeat.
I live in WA state which will go to Obama anyway. I am definitely writing in “Mitt Romney” on my ballot to make a statement of the collosal mistake the Republican party made by passing him up. Hopefully a lot of voters will do this and it will be enough to encourage Mitt to run in 2012. I heard an analyst say that because of all the problems the US is facing whoever wins the election will probably be blamed for it and not get re-elected.
If Obama or (I doubt) McCain) gets elected, in four years we will need Mitt to rescue our country, or whats left of it. I am really truly scared to see what will happen in the next four years, I just have a sick feeling about it.
October 9th, 2008 at 4:38 am
Glenn Beck interviews Romney about the bailout:
http://www.glennbeck.com/content/articles/article/196/15555
October 9th, 2008 at 4:43 am
The above link will take you to the Glenn Beck site and then you have to go to page 2, click on interviews and all look for Sept.23
October 9th, 2008 at 5:42 am
The old Bob Dylan song sums up what’s happened overnight:
“The Times They Are A Changing”
Come gather round people wherever you roam
And admit that the waters around you have grown
And accept it that soon you’ll be drenched to the bone
If your time to you is worth saving
Then you’d better start swimming or you’ll sink like a stone
For the times, they are a changing!
All articles from Yahoo!News:
NYC NATIONAL DEBT CLOCK RUNS OUT OF DIGITS
Wed Oct 8, 10:03 PM ET
NEW YORK - In a sign of the times, the National Debt Clock in New York City has run out of digits to record the growing figure.
As a short-term fix, the digital dollar sign on the billboard-style clock near Times Square has been switched to a figure — the “1″ in $10 trillion. It’s marking the federal government’s current debt at about $10.2 trillion.
The Durst Organization says it plans to update the sign next year by adding two digits. That will make it capable of tracking debt up to a quadrillion dollars.
The late Manhattan real estate developer Seymour Durst put the sign up in 1989 to call attention to what was then a $2.7 trillion debt
.
EUROPEAN CENTRAL BANKS OFFER COMBINED $120 BILLION
Thu Oct 9, 3:51 AM ET
FRANKFURT, Germany - European central banks continued to push liquidity at the financial sector Thursday, offering $120 billion to prop up lending between banks.
The European Central Bank, representing the 15 countries that use the euro currency, offered $100 billion, while the Bank of England and the Swiss National Bank each offered $10 billion.
Terms of the offers are similar to those in the past. More information on the offers was expected later in the day.
Thursday’s overnight dollar offers follow a surprise announcement Wednesday that the three banks — along with other central banks including the U.S. Federal Reserve and the Bank of Canada — had dropped their interest rates in a coordinated move.
ICELAND SHARES SUSPENDED, BIGGEST BANK TAKEN OVER
By Brett Young 4:05 AM PST
REYKJAVIK (Reuters) - Iceland seized control of its biggest bank, Kaupthing (KAUP.IC), on Thursday to try to shore up its banking system and halted all trade on its stock market.
The state has now taken over three of the nation’s major banks after Landsbanki (LAIS.IC) and Glitnir (GLB.IC) were put under state control earlier this week.
The stock exchange suspended trading in all shares, citing unusual market conditions. The exchange, part of the Nasdaq OMX Group (NDAQ.O), said trade would not resume until Monday.
At the center of a financial hurricane which has claimed several of the world’s biggest banks, Iceland’s prime minister has warned of the risk of national bankruptcy.
Home to just 300,000 people, Iceland epitomized the global credit boom that turned to bust. Its banks expanded dramatically overseas, investors took large positions in its high-yielding currency and foreign money poured into local projects.
The central bank has tried then abandoned attempts to prop up its battered currency and it is seeking an emergency loan from Russia.
Read more here: http://news.yahoo.com/s/nm/20081009/bs_nm/us_financial_iceland
WHITE HOUSE CONSIDERS OWNERSHIP STAKES IN BANKS
By MARTIN CRUTSINGER, AP Economics Writer
6:13 AM EST
http://news.yahoo.com/s/ap/20081009/ap_on_bi_ge/meltdown_paulson
WASHINGTON - The Bush administration is considering taking ownership stakes in certain U.S. banks as an option for dealing with a severe global credit crisis.
An administration official, who spoke on condition of anonymity because no decision has been made, said the $700 billion rescue package passed by Congress last week allows the Treasury Department to inject fresh capital into financial institutions and get ownership shares in return.
This official said all the new powers granted in the legislation were being considered as the administration seeks to deal with a serious credit crisis that has caused the biggest upheavals on Wall Street in seven decades and continues to roil global markets.
Supporters of this approach, such as Sen. Charles Schumer, D-N.Y., argue that injecting fresh capital into U.S. banks who want to participate in the program would be an effective way to bolster banks’ balance sheets and get them to resume lending. Taxpayers would benefit because the government would receive an equity stake in the bank in return for providing the capital.
“This idea would, at a minimum, complement the administration’s planned approach of buying up troubled assets and may prove to be the most promising tool of all in Secretary Paulson’s kit,” Schumer said in a statement.
A decision to inject capital directly into financial institutions in return for ownership stakes would be similar to a plan announced Wednesday by Britain.
Paulson said that while the financial market turmoil has hurt the economy, the administration is moving quickly to begin the largest financial system rescue effort in history.
Even with the program to buy bad assets from financial institutions, he said, some banks will fail. He also called for patience, saying “the turmoil will not end quickly and significant challenges remain ahead.”
In an attempt to help stop the financial crisis from causing a global economic recession, the Federal Reserve and other central banks cut interest rates in a rare coordinated move Wednesday.
October 9th, 2008 at 6:15 am
More global economic news…
S. KOREA, HONG KONG, TAWIAN CUT RATES, JOINING ACTION
Bloomberg.com
Oct 9, 2008 By William Sim, Victoria Batchelor
http://www.bloomberg.com/apps/news?pid=20601087&sid=avfwcT8_W1P4&refer=home
South Korea, Taiwan and Hong Kong cut interest rates a day after reductions by the U.S., Europe and China to stem damage from the global financial crisis.
The Bank of Korea and Taiwan’s central bank lowered their rates by a quarter of a percentage point and Hong Kong cut its benchmark to 2 percent. The Bank of Japan, which kept its policy rate at 0.5 percent this week, pumped 2 trillion yen ($20 billion) into the financial system.
The International Monetary Fund yesterday forecast the world’s advanced economies will expand at the weakest pace since 1982 next year, sapping growth in emerging nations.
The Federal Reserve, European Central Bank and four other central banks lowered rates by a half point yesterday in an unprecedented, emergency coordinated bid to reduce fallout from the worst financial meltdown since the Great Depression.
Within minutes of yesterday’s joint action, the People’s Bank of China pared its one-year lending and deposit rates by 0.27 percentage point.
Asian Moves
The Bank of Korea today lowered the seven-day repurchase rate to 5 percent, the first cut in four years. Taiwan’s central bank reduced the discount rate on 10-day loans to banks to 3.25 percent. Hong Kong trimmed its base rate to track the Fed’s move.
“As the financial crisis in the U.S. and Europe continues to spread, the risk of a global economic slump increases sharply,” Taiwan central bank Governor Perng Fai-nan told reporters in Taipei after announcing his intra-meeting cut.
Australia, New Zealand
The Reserve Bank of Australia, which slashed its benchmark rate by 1 percentage point this week, added A$3.49 billion ($2.3 billion) to money markets today. New Zealand’s central bank said it will increase the range of securities it accepts from lenders to help boost liquidity.
“We are committed to ensuring the ongoing health of the financial system and remain ready to respond as appropriate,” Reserve Bank of New Zealand Governor Alan Bollard said.
The rate cuts in South Korea and Hong Kong did little to free up credit as banks continued to hoard cash on concern that borrowers may become unable to repay loans.
Standard & Poor’s said this week South Korea’s banks face increased difficulties in refinancing loans because of the credit squeeze. Banks’ foreign-currency funding was $127 billion as of June 30, double the level at the end of 2005, S&P said.
“It’s good Asian central banks have shifted their focus away from inflation to growth,” said Huw McKay, senior international economist at Westpac Banking Corp. in Sydney. “But we’re in for a very rough ride for the more externally leveraged economies in the region.”
October 9th, 2008 at 6:17 am
Good article from Glenn Beck on what’s coming:
http://www.glennbeck.com/content/articles/article/198/16278/
October 9th, 2008 at 6:23 am
John, I am in total agreement with you. I am NOT looking forward to 4 hard years. But that is what theis country insisted on. This is what the far right nutters gave us, this is what democrate crossover voters gave us. The media was very clear that to run Romney, would be a total winner. they did not want that. And certainly, the far right could not handle someone of Romney’s qualifications, paired with his stellar personal life, to be in office. Heavens sake, what would that do to their anti-mo industry set up to ‘expose’ romney’s faith in their negative light? Hundreds of Thousands of dollars in income, lost becaue one man has the very visible example to prove all their false accusations wrong. Let the next 4 be a lesson for them. Meanwhile, we have a lot of work ahead of us. I have no idea how this will get organized, but we need to get it done - and quickly. In 2 years, we have an election that we can win, if we stop what were doing today, and change course.
In my marriage, I love it when I’m right. I do a little ‘happy dance’. It’s sort of a joke with my husband and I. He gets one day a year to be right, and he’d better make it a good one! But I’m not doing the happy dance today. I was right. And now the county will be paying big time for it.
October 9th, 2008 at 6:35 am
Here is what is WRONG with this election. They talk out of one side of their mouths, and do the other. Open and honest? Not this bunch. (on either side!)
Please read the whole of the article. It tells you who is funding the effort to shut down the Troopergate investigation in Alaska. I guess it must be bad news, for dobson and mccain campaign to fund the attorny’s fighting.
http://www.adn.com/front/story/550352.html
October 9th, 2008 at 6:53 am
AMEN!!! Up till this point, I was going to hold my nose and vote for McCain but I can’t take it any more. As a “soccer Mom” myself, I am not inmpressed with Palin and even less impressed with McCain. I’ve been fearing for a long time that things would have to get worse before they get better… and that’s exactly what needs to happen, apparently. ANY of the other primary presidential contenders ( save one squirrel-frying southerner) would be better than JM! None, however could hold a light to Gov. Romney! My efforts will be focused on the down ticket and cleaning “house” as well as gearing up for 2012. I know there are citizens right now feeling uneasy about their primary votes but…. As I say to my children, “You get what you get and you don’t pitch a fit.” Thanks to all those who got us to this place, I hope you enjoy the next few years!
October 9th, 2008 at 7:10 am
Wow, its good to see that people are quick on the draw . . .
October 9th, 2008 at 7:33 am
Why is it that McCain is going to campaign in Iowa on Saturday?! A state that by reasonable estimation is going to be blue in 26 days. Why Iowa and not Michigan, Virginia, North Carolina, Colorado, New Mexico, or even Nevada? Why is the McCain campaign so incompetent? Is this the foreshadowing of how a McCain administration would run?
October 9th, 2008 at 9:01 am
SED,
Before you can become a statesman, you must first become a successful politician. Someone who knows how to count the votes, knows what the electorate wants and can formulate a plan to capture the most votes possible, while still keeping faith with your basic political beliefs.
McCain and his staff do not possess these skills, which is why they simply criss-cross the country in a futile attempt to win votes. No plan, no strategy, no way.
October 9th, 2008 at 9:06 am
A worthwhile read:
http://elections.foxnews.com/2008/10/09/palins-husband-pushed-trooper-fired-documents/
October 9th, 2008 at 9:09 am
Will he be there in Iowa with Huckabee?
October 9th, 2008 at 9:37 am
Well, I just phoned our Election Commission here in Louisiana. I am informed that we do not have any provision in the law for a “write in” vote in Louisiana. Therefore, I am stuck with McCain. I would not feel good about not exercising my right to vote, considering the blood shed for this right by our armed forces, past and present.
October 9th, 2008 at 9:44 am
Great Job John. I have stated the same thing for 6 months now. My vote is for a “Romney” write-in. I really hope that McCain is going to crash and burn big time. Let the party know that they screwed up, I mean SCREWED UP big time.
It is time for a Tax-Payer revolution…………..!!!!!
October 9th, 2008 at 9:49 am
David.
Continue to vote down ticket, but you don’t need to mark president. Or go third. and you CAN write in. Its your right to vote for whom every you want. Just because they don’t have provisions for write in, does not mean you cannot do it.
October 9th, 2008 at 10:10 am
Still more global economic news…
guardian.co.uk
http://www.guardian.co.uk/business/2008/oct/09/globaleconomy.creditcrunch
by Heather Stewart and Larry Elliott
Thursday October 09 2008 16:25 BST
The International Monetary Fund has drawn up emergency plans to bail out governments affected by the financial crisis, after warning yesterday that no country would be immune from the ripple effects of the credit crunch.
Dominique Strauss-Kahn, the Fund’s managing director, said it could make “hundreds of billions of dollars” available to either rich countries in the west, or to developing nations.
Amid fears that the extreme turbulence of the past month will push governments to the brink of financial collapse, Strauss-Kahn said he had asked the Fund’s board to activate its fast-track loan procedure.
Strauss-Kahn said, “We are ready to answer any demand from a country facing problems.”
He added that the Fund had not lent during the past five years, and therefore had a sizeable war chest available. Any country seeking financial assistance will face less stringent conditions than normally apply to governments in trouble. “We are not going to take weeks and months to design a programme; it will take two weeks at most,” Strauss-Kahn said.
However, anti-poverty campaigners warned that the hurdles to receiving the IMF’s help might still be too high.
“No one could accuse the Fund of being asleep at the wheel,” said Marita Hutjes, Oxfam International spokesperson. “It is coming up quickly with money to help countries cope. But for the poorest countries, it’s still not doing it right. They can’t borrow as much as they’ll need, and most of that money will be subject to high numbers of conditions.”
Speaking on the eve of the Fund’s Annual Meetings in Washington, Strauss-Kahn repeatedly warned that “no country is immune”, from the credit crunch, adding that firms and consumers in emerging countries were already seeing loans become more expensive.
October 9th, 2008 at 10:32 am
From: Jacques Berry [mailto:Jacques.Berry@sos.louisiana.gov]
Sent: Thursday, October 09, 2008 11:31 AM
To: MSY Delatte David
Subject: RE: Presidential election - write in vote
Mr. DeLatte, write-in votes are prohibited by law in elections of all
levels in Louisiana.
Jacques Berry, Press Secretary
Secretary of State Jay Dardenne
(o) 225.362.5103 (c) 225.202.2166
October 9th, 2008 at 12:01 pm
How many of the following names ring a bell?
Abdelaziz Bouteflika, Fernando Piedade Dias Santos, Rafael Correa, Susila Bambang Yudhoyono, Mahmud Ahmadinejad, Jalal Talabani, Sabah IV Al-Ahmad Al-Jaber Al-Sabah, Muammar Abu Minyar al-Gaddafi, Umaru Musa Yar’Adua, Hamad bin Al-Thani, Abdullah bin Abdul Azziz Al Saud, Khalifa bin Zayed Al Nahyan, and Hugo Rafael Chavez Frias
A few? One? None?
You should acquaint yourselves well with each name because they are the rulers belonging to the Oil Gestapo better known as OPEC. These are the men that affect how much you pay to fill your gas tank, heat your home, how much your groceries, clothing, furniture, appliances, etc. costs, how much your airline ticket, bus ticket, and train ticket costs, how much our military pays to keep their tanks, fighter jets, air transports, spy drones, aircraft carriers, cruisers, destroyers, frigates, humvees, and jeeps running. Their decisions affect most of the goods and services produced in the United States.
The Oil Gestapo’s underlying goal is to keep oil production low to increase their revenues. The Saudi’s disagree somewhat with that over-all goal. They desire to be viewed as a partner with the world’s economic powers because they believe that expensive oil or uncertain supplies of oil will DRIVE DEVELOPED NATIONS TO CONSERVE AND DEVELOP ALTERNATIVE FUELS. To this point, former Saudi Oil Minister Sheikh Yamani famously said in 1973: “The stone age didn’t end because we ran out of stones.”
Like buzzards circling a downed and wounded EAGLE, the Oil Gestapo has their piercing, greedy eyes locked on current U.S. headlines.
As you consider the last 30 years of yo-yo oil supplies and read the following article, ask yourselves: Which ticket – Obama/Biden or McCain/Palin – has the best grasp of energy issues? Who has records of reform? Who will implement the most effective strategy to unlock the prison of foreign oil addiction and set America free?
Your domestic tranquility and our national security will be determined by your answer.
From MarketWatch.com
Oil futures fall on speculation over OPEC action
By Myra P. Saefong & Polya Lesova
Last update 11:28 AM EDT Oct 9, 2008
SAN FRANCISCO (MarketWatch) — Oil futures fell Thursday, holding ground below the $90-per-barrel level as traders weighed speculation about an emergency meeting of key oil producers against ongoing concerns over a slowdown in global oil demand.
“As long as the fears of a wholesale global economic meltdown are the headlines for the market, energy prices should continue pulling back,” said Neal Ryan, a managing partner at Ryan Oil & Gas Partners.
“Should these headlines persist, I think we’ll have OPEC [Organization of the Petroleum Exporting Countries] stepping up to the mike to announce major supply cutbacks in the coming month or two as they don’t want a repeat of the early [19]80s price crash,” he said in emailed comments.
Crude oil for November delivery fell $1.27, or 1.4%, to $87.68 a barrel in electronic trading on Globex. It traded between a low of $87.32 and a high of $89.82.
Underpinning the oil market are increased expectations that OPEC may hold an energy meeting and cut output, said analysts at Sucden Research in a note.
Venezuelan President Hugo Chavez said Wednesday that some OPEC cartel members are calling for an emergency meeting, according to media reports.
“Falling prices have caught OPEC’s attention,” said Michael Fitzpatrick, an analyst at MF Global, in a note to clients. Iran’s official news agency is reporting that a meeting is set for Nov. 18 in Vienna, he said.
“If prices continue to fall until then, pressure for an output cut will doubtless be very high,” said Fitzpatrick.
October 9th, 2008 at 12:24 pm
Oh, i wouldn’t rule mccain out till the day after the election…just remember where he was summer of 07, than boom he comes back and wins the nomination….and yes i think he is much better than obama no ? and double yes i think romney would have a role in mccain’s admin…i am now thinking he should take the sec of T job if somehow mccain wins…ditto mccain should offer + romney should lobby for it, his services are needed.
October 9th, 2008 at 1:33 pm
I haven’t posted for a long time, but if any of you remember my posts, you know I am NOT a McCain supporter.
But at this point, We’ve got a country to save here, people.
Let me give you just a little taste of what the Obama Truth Squad has already inflicted on MY extended family:
http://www.msnbc.msn.com/id/27075121
Mike is my brother-in-law’s cousin and a finer man you can’t find anywhere. He was just nominated to run for sheriff again with over 90% of the GOP primary vote. He enjoys huge bipartisan support throughout our county.
Which is why I am VERT suspicious of all these “phone calls.” I can assure you the majority weren’t from Lee County.
I cannot even begin to tell you what a upstanding man Mike is and what a wonderful family he has - his wife Christa, and his daughters Mackenzie and Lindsey. They are unpretentious people & just a picture-perfect all American family.
I’m talking with my sister right now. Those harpies on The View trashed Mike like crazy today. The phone calls Mike & Christa have gotten at their home have been downright scary!
They don’t deserve this at all.
Mike has a spine of steel. He will not back down. He’d rather lose his job than apologize to these jerks.
However, I am certain this is what we can expect from an Obama presidency.
This has convinced me to support McCain.
You can write in Mitt if you want.
October 9th, 2008 at 2:12 pm
McCain did not think about Country first. We’ll be FINE. Please, it’s not the end of the world, if McCain gets in. I cannot and will not vote for mccain in any way. If I lived in AZ, I’d work to ensure he never serves another term. He’s messed with us too mch.
I can’t do it. I won’t do it.
October 9th, 2008 at 2:18 pm
and I will not do it.
October 9th, 2008 at 2:25 pm
and I will not do it.
October 9th, 2008 at 2:32 pm
I love Mitt. But this election is too important, as Mitt has constantly reminded us.
Did you read my link?
We may not have much a country left after a couple of years if Obama and his thugs get in.
Hopefully when they attack YOUR family, someone out there will still be able to speak up for you.
I don’t want to use scare tactics, but you know this is how it started in Germany.
October 9th, 2008 at 3:28 pm
Mitt unflinchingly campaigning for McCain…
Romney talks finances in West Michigan
Posted By: Amy Fox
Updated:10/9/2008 12:55:22 PM - Posted: 10/9/2008 11:01:29 AM
http://www.wzzm13.com/news/story.aspx?storyid=99768&catid=2
ZEELAND, Mich. (WZZM) - Former Republican presidential candidate Mitt Romney and Congressman Pete Hoekstra talked about the economy with West Michigan business people Thursday morning. They spoke at a breakfast at Gentex Corporation in Zeeland.
The business leaders had a lot of questions in light of the uncertainty on Wall Street and the recent government rescue package.
From a businessman’s perspective, Romney says he foresees the financial picture improving. He says, “I can’t tell you when the bottom comes, but I can tell you that every time that we’ve seen a massive bubble develop in the economic world, those bubbles burst. And we had a massive housing bubble. A lot of people saw it. A lot of people predicted it. And it has burst. And because it’s housing and so connected to our financial services, to our banks and financial institutions, its impact is much broader, than say the bursting of the internet bubble.”
Romney and Hoekstra both voiced concerns about Michigan’s economy in relation to the rest of the country. They say the state is not friendly to businesses.
Romney is in Michigan supporting Hoekstra’s campaign, as well as campaigning for John McCain for President.
October 9th, 2008 at 4:24 pm
FYI: Here in Idaho, we are allowed only to write in candidates who have declare their intention to be a write-in. The deadline for them to declare their intention is Oct 21th (14 days before an election). The instruction is very clear in that the Department of State will not validate any ballot that has a write-in candidate who has not declared their intention. Mitt has not declared himself as a write-in candidate for this state, so we won’t be able to write him in, or else, they will invalidate our ballots. However, we could vote for a third party as a protest, like Barr or Baldwin. Please do not ever vote for Nader!!! He has enough encouragement in the past!
October 9th, 2008 at 4:26 pm
Oh, I see that there are two more presidential write-in candidates for Idaho: McKinney of Green Party (defeat Nader for the party nomination) and Moore. We still have two more weeks for the write-in candidates.
October 9th, 2008 at 4:33 pm
This election Marybeth is over. It’s no longer important. What is important is the down tickets. And of course, the election in 10 and 12. I can’t vote for McCain. He expects us to walk lockstep into his gaschamber, smiling all the while. This is hard for many of us, but if we don’t stand by our standards for leadership, who will? If we continue to vote these guys in, exactly what will change? Nothing. If we don’t suffer for what is right, of what worth will any sacrifce ever be? The time has come to stage a quiet revolution. either write mitt in or don’t vote for top of tickets. If voter turn out for the GOP is very low, mccain will lose. Message sent and received. Were in for a awful 4 anyway. Might as well get the body work done while were in exile.
October 9th, 2008 at 4:34 pm
we’ll be fine.
October 9th, 2008 at 5:05 pm
Chris,
Guess it doesn’t bother you much that the Obama thugs are harrassing and threatening a man & his family just for using their “Dear Leader’s” middle name.
How does that famous poem go? There are many variations, but here is one:
They came first for the Communists,
and I didn’t speak up because I wasn’t a Communist.
Then they came for the Jews,
and I didn’t speak up because I wasn’t a Jew.
Then they came for the trade unionists,
and I didn’t speak up because I wasn’t a trade unionist.
Then they came for the Catholics,
and I didn’t speak up because I was a Protestant.
Then they came for me,
and by that time no one was left to speak up.
I for one will fight for my country.
I’d rather have to deal with McCain than be unable to deal with Obama because I’ve been intimidated into not speaking out.
I wonder how many Germans said they’d be “just fine” if Hitler was elected.
I’m sorry for all the Nazi Germany references, but dang it, what has been done to Mike & his family really creeps me out.
October 10th, 2008 at 7:02 am
Let’s start the campaign for 2012 right now!
Mitt Romney/Duncan Hunter 2012!
October 10th, 2008 at 8:55 am
I could definately support a Romney/Hunter ticket for 2012. We need to get things done!
October 10th, 2008 at 9:44 am
I agree, write in Mitt.
John- that would be a great team!
Mitt Romney/Duncan Hunter 2012
And anyone in CA don’t forget about his son Duncan D. Hunter.
October 10th, 2008 at 10:05 am
John, sounds good, but Romney/Jindal would be a killer ticket as well.
Palin or Huckabee? - no thanks.
October 10th, 2008 at 12:09 pm
I’d really like to know why all of my comment are deleted. Is there some trick to posting here. Please someone tell me why I’m not allowed to post anything here.
October 11th, 2008 at 4:15 pm
i am very disappointed in mccain NOT fighting for us, as well. it’s almost like he WANTS to lose. there are SO MANY open doors, wide open, that mccain could walk into and SLAM obama. and he chooses not to. he doesn’t name names, he continues to play nice, when he shouldn’t. there’s nothing nice about wright, ayers, acorn, or any other obama scandal. if mccain loses, he deserves to. that’s what he’s earned here: defeat.
it is republicans and our country who will pay most dearly for his inability to effectively join the fight. and by the way, i couldn’t even watch the last debate for more than half an hour or so. i was tormented by how ROMNEY would have been wiping the floor with obama on every single question.
i hope conservatives will learn from this lesson, and actually nominate in the first place, A TRUE CONSERVATIVE to represent them in the presidential race. it’s going to be a long four years. ROMNEY in 2012!
October 12th, 2008 at 10:35 am
Amanda,
Amen!! Conservatives have got to learn a lesson from this travesty of a presidential campaign. No more RINO nominees.
We have got to reject these patsies out of hand. Send a big message to the RNC that we are the face of conservatism. You would think they might learn from experience. These candidates that try to win with a watered down message that is designed to appeal to everyone actually appeals to almost no one.
We must get out in front of the curve for 2012. McCain will, mercifully, be out of the picture. Jeb Bush shouldn’t even think about running. Man, I am done with that family. Huckabee should be opposed with a “scorched earth” strategy that doesn’t allow him to screw up the primaries again. That man must be neutralized before he can gain any momentum.
I see Mitt in the catbird seat as we head into 2012. Let’s all work together to see that it happens. We are really going to need some competence in the White House after 4 years of either one on these jokers.
October 12th, 2008 at 2:39 pm
Hiya John.
Thanks for your comment; I’m glad you agree (of course you do!).
When Mitt suspended his campaign in the first place, once I dried my tears (yes, I really did cry), I had to suck it up and realize that maybe the only way we were going to get a guy like him in the white house, is going to be when the country is is SUCH desperate need of a man with his knowledge and expertise, that he’ll sweep the country in victory (kindof like what happened in MA). but it’s clear it will take a significant crisis in order for the rest of republicans to accept him as the great leader and phenomenal turnaround expert he is, and then to let him lead us into another Reaganesque-type period of peace and economic prosperity.
I only wish I weren’t a young married with two small children who just bought our first home in this rough-and-tumble economy. Why does this insane time in our country’s economic history have to be happening now, when my family’s economic situation is already so fragile!? SIGH. Like I said, it will be a long four years. But if that’s what we have to do to get Mitt in the white house in 2012, I KNOW it will all be worth it. Once he takes over and quadruples revenue to the gov’t by giving us all BACK our own money and letting us spend it, the nay-sayers will see the light.
I’m totally on board to work together and see that Romney is our guy in ‘12, if he wants to be at least. Although I wouldn’t blame him if he never wanted to run again, considering the scandal from the media, scandal via Huck and Mac, smears, attacks on religion, and all that not-fun stuff. I would never blame him for staying out of the national eye from now on. Although it seems he would be the kind of person to keep on trying and fighting for something he (and we) believe is important: our freedoms, prosperity, and security in this country. Yay for Mitt in 2012!