European shares plunge as global rout accelerates
http://www.marketwatch.com/news/story/shares-europe-plunge-again-tumultuous/story.aspx?guid={B5882B27-F163-4F02-B597-A19AB3B5E8A8}
German DAX down 8.2%, French CAC-40 down 6.8%, FTSE 100 down 6%
By Sarah Turner, MarketWatch
LONDON (MarketWatch) – The main national European shares indexes all plunged on Friday, capping a week of carnage in equity markets when policymakers and central banks desperately battled to shore up financials and limit damage to the global economy.
The pan-European Dow Jones Stoxx 600 index fell 6.2% to 208.11, a drop that ranks among the worst one-day falls for the index.
The Stoxx 600 has fallen more than 20% in the last week, leading some strategists to call it a bear market within a bear market. For the year, the Stoxx 600 is down close to 44%.
The European drops followed similar declines in Asia. Japanese shares plunged Friday, with the benchmark Nikkei 225 Average seeing the biggest one-day drop in more than two decades, as panic-stricken investors rushed to dump stocks to raise cash.
U.S. stocks on Thursday collapsed to fresh five-year lows, with the major indexes slammed for a seventh straight session as financial shares and General Motors Corp. tanked and global credit woes spurred panic-stricken investors to flee equities.
October 10th, 2008 at 9:56 am
What is interesting is in the midst of a frenetically paced market, credit freezes and less than impressive candidates, on either side of the isle, is where the convergence of all these factors will lead.
Will the Republican Party follow in the Palin mold and continue down the road of compassionate identity conservatism, or take a long look at what it needs to retool the party after eight years of less than stellar leadership?
My guess is that this depends on how Obama and company performs over the next 4 years. Obama, whose resume is thin in contrast to Biden, is very smart. He is adapting where needed, as evidenced over the past few weeks. Yes, McCain has helped but that is another story. It wasn’t a small task to take down the Clintons. Now, will Obama do what is needed while in office and move to the center is his governing?
Much speculation has been made that Obama may be a 4 year warrior, a one term President at best. I am not sure that this belief is well founded. I wouldn’t be at all surprised if he adapts and succeeds. Much of the leftist policies may be what he had to do to advance or shore up the Democratic base, much as McCain and even Romney had to pander to the Republican base during the primaries and with Palin, and in Romney’s (McCain’s writers) speech at McCain’s coronation.
Romney makes a better case over the next four years to challenge for the Republican leadership because he offers talents and experience that no other Republican contender can offer. The question is whether or not Romney will drop the political talking points and let the business executive shine through?
Whether, or not, the economy and other political factors would make the case for another switch at the top is speculative in four years, on the national level. However, if Romney can just be himself and articulate a vision for the Republican Party that is coherent and relevant to the times I believe he will do well and has a better shot at the leadership than most.
Palin, Jindal, Gingrich and others will be in the running but I think Romney needs to unleash his intellect and lead. He should drop many of his political consultants and focus on his innate strengths.
During the primaries I noticed a back and forth between the business-Olympic-Governor- leader and trying to please various groups of the Republican Party. This seemed to add to the flip-flop persona, or charge that he changed his positions, at a rapid rate. It ignored Romney’s primary strengths and straight jacketed his approach. I would rather hear Romney the no B.S. businessman, known for his genius, than some well crafted political sound bite.
Perhaps, in 4 years, the Republican Party and the nation will be ready for a serious candidate and welcome this type of approach.
October 10th, 2008 at 10:00 am
http://www.thedailybeast.com/blogs-and-stories/2008-10-10/the-conservative-case-for-obama
October 10th, 2008 at 10:01 am
McCain in even more trouble with conservatives:
http://www.cnn.com/2008/POLITICS/10/10/mccain.mortgages/index.html
October 10th, 2008 at 10:34 am
Well said Stephanie. I pretty much agree with everything you said.
We as a party are going down a dark and dangerous road. Over the last couple of days the McCain campaign have been attacking Obama on his association with Ayers and his rallies are becoming more hate filled by the supporters. None of this helps the american people during this economic crisis we are currently in.
Everyday the stock market falls by 500 plus points. People want to hear solutions not divisive character assassinations. Ayers would be a reasonable attack if the number one issue was the war on terror. However it’s not. The economy is the prevalant issue and discussing anything else is ground noise to american public.
Here is a post I just read over at politico about the rallies.
Driving the rally story
By Ben Smith | 10/10/08 @ 12:00 PM EST
Increasingly today, Obama and his allies are trying to make the campaign about McCain’s crowds.
John Kerry posts on his anti-”smear” site:
The reports are piling up of ugliness at the campaign rallies of John McCain and Sarah Palin. Audience members hurl insults and racial epithets, call out “Kill Him!” and “Off With His Head,” and yell “treason” when Senator Obama’s name is mentioned. I strongly condemn language like this which can only be described as hate-filled.
October 10th, 2008 at 10:50 am
http://tv.nationalreview.com/uncommonknowledge/
October 10th, 2008 at 12:07 pm
McCain narrows gap in Friday’s Gallup Poll
By Yael T. Abouhalkah, Kansas City Star Editorial Page columnist
http://voices.kansascity.com/node/2380
For the second straight day, John McCain did not lose ground in the presidential race. In fact, he cut Barack Obama’s lead to 51-41 percent in Friday’s Gallup Poll.
To be sure, that’s just slightly better than the 52-41 percent lead Obama held Thursday.
And Obama’s supporters have something big to cheer: Friday marked the seventh straight day that their candidate has been at the 50-percent-or-above mark, which presumably would be enough for him to win the election.
Of course, that election is still more than three weeks away, enough time for something dramatic to happen.
But McCain is running out of time. That means the third and final debate next Wednesday will be a make-or-break one for McCain, in many ways.
McCain Ad
McCain Pushes Guilt-by-Association Tie Between Ayers and Obama
http://voices.washingtonpost.com/the-trail/2008/10/10/mccain_pushes_guilt-by-associa.html
October 10th, 2008 at 12:12 pm
It’s time to shut down ACORN, work against voter fraud
By Ross Balano, Midwest Voices
October 9, 2008 - 9:34am.
http://voices.kansascity.com/node/2375
Federal authorities are investigating the Association of Community Organizations for Reform Now, otherwise known as ACORN, in at least ten states including Missouri.
Thousands of fraudulent voter registrations have surfaced after having been submitted by ACORN. In some parts of Ohio, over half of the registrations submitted by ACORN are at least questionable. ACORN even admits that it is unable to insure there is no fraud. In the Kansas City area, one name, Monica Ray, registered 20 times.
It is time to put a stop to ACORN and restore some integrity to the election process.
So now we know what a “community organizer” is. ACORN is a left wing organization that Barack Obama used to work with. They pay people to solicit voter registrations and quotas must be met. This is a formula for fraud. The only thing that matters is how many registrations are submitted, not how authentic they are.
In Indianapolis, it was announced today that they have a total of 677,401 voter registrations. The problem is that Indianapolis only has 644,197 voter population. That means they have a registration of 105%.
In Las Vegas, the Dallas Cowboys names showed up on voter registration cards.
How can we insure that these fraudulent registrations do not result in fraudulent votes? Answer: we cannot!
I know many of you are screaming that we should encourage as many people to vote as possible. That we should do everything possible to make sure as many people as possible actually do vote.
Yes, that sounds good on the surface, but the integrity of the election is at least as important as the turnout. Every fraudulent vote effectively cancels a valid vote. I don’t want ACORN or anyone else disenfranchising my vote.
Groups like ACORN are trying to steal the election. They are threatening to turn the whole process into a joke and action must be taken immediately.
ACORN and other groups like them must be shut down.
Photo ID should be required of all voters. Give them out for free. Come to the homes of those who cannot get out to get one. Make them an ID on the spot. Provide rides for anyone who needs one to get to the polls. But no ID, no vote.
Eliminate early voting. Eliminate mail in voting. Eliminate absentee voting except for the military and special cases. The constitution is specific about when and how the election should be held. Let’s get back to the basics and restore integrity to the election.
October 10th, 2008 at 12:34 pm
Glenn Beck audio
Oct. 10, 2008 - America’s voice
America is getting fed up with the politics as usual…
http://www.glennbeck.com/content/clips/216/
October 10th, 2008 at 5:40 pm
Conservative William F. Buckley’s son endorses Obama: http://politicalticker.blogs.cnn.com/
October 10th, 2008 at 7:20 pm
Palin abused her power:
http://www.cnn.com/2008/POLITICS/10/10/palin.investigation/index.html
October 10th, 2008 at 9:05 pm
Tracey,
Today McCain asked his supporters to be respectful of Obama at a rally. He was booed by his supporters.
This is Shameful. This is how far we have fallen…
Here’s the link:
http://www.politico.com/news/stories/1008/14479.html
October 10th, 2008 at 11:26 pm
As mentioned a few weeks ago, McCain’s choice of Palin was either going to make him look like a genius or a complete and utter idiot.
Well, I’m afraid he’s not coming off as a genius…
…and the rest is history “my friends.”
Get Mitt ready for 2012 and write in Romney!
October 11th, 2008 at 8:30 am
Presidential Poll Update:
Fox News has come out with a poll that now has Obama up by 7 points.
RealClearPolitics.com, which is an average of all the polls has Obama up by 7.4%
http://www.realclearpolitics.com/epolls/2008/president/us/general_election_mccain_vs_obama-225.html
I doubt this third and final debate will change much. Only something unforeseen will save McCain’s campaign.
October 11th, 2008 at 9:38 am
Doug. There is no crime called “abuse of power.” This proves the political motivation of her accusers, and you, frankly. Look at the accusations: she is accused of “doing nothing” while her husband “communicated” with state employees about getting her ex-brother-in-law fired. What? I mean, get over it.
Jon. Palin is not changing the way McCain is being looked at. She’s a staunch conservative and a perfect WP candidate. McCain, however, has always looked like an idiot, and Palin could only change that to the upside, IMO.
October 11th, 2008 at 10:24 am
Here is a post that I pulled from Politico this morning about the ‘Troopergate’ findings and Sarah Palin’s reponse.
————————————————-
Palin focuses on only one part of report
By Jonathan Martin | 10/11/08 @ 10:40 AM EST
CBS’s Scott Conroy, traveling with Sarah Palin, has her seizing on one element of the Troopergate report (that she was within her right to fire Alaska’s public safety commissioner) but ignoring another part (that she violated the state ethics code and abused her office by having her husband push to get their former brother-in-law fired)
PITTSBURGH — As she boarded her campaign bus this morning, Sarah Palin denied the conclusion of a state ethics report, which found the Alaska governor abused her power when she pressured subordinates to get a state trooper fired.
Asked by a reporter if she abused her power, Palin shook her head and said, ““No.”
She added, “And if you read the report, you’ll see that there was nothing unlawful or unethical about replacing a cabinet member. You got to read the report, sir.”
While the investigation by the Alaska state legislature did find that Palin was within her rights to fire public safety commissioner Walt Monegan — state trooper Michael Wooten’s boss — the report found that she violated the Alaska Executive Branch Ethics Act by knowingly allowing her husband Todd to use state resources to try to get Wooten fired.
The ethics report found that Gov. Palin “permitted Todd Palin to use the governor’s office and the resources of the governor’s office, including access to state employees, to continue to contact subordinate state employees in an effort to find some way to get Trooper Wooten fired.”
The report also found that Palin “knowingly permitted a situation to continue where impermissible pressure was placed on several subordinates in order to advance a personal agenda.”
The conclusion of the panel’s report endangered the Republican ticket’s argument that Palin has the track record to facilitate ethics reform in Washington.
October 11th, 2008 at 10:42 am
Todd Palin is the new Hillary
October 11th, 2008 at 10:49 am
Andrew,
I respectfully disagree with your assesment.
It’s true that Sarah Palin is a staunch conservative and would probably be a good VP. However, the reality is that she is a drag on the ticket. We may love her as republicans with a favorabiliy rating of about 80%. The dems give her 17% and the indies about 33%. She has a net favorability of 47% and unfavorability of 42%. These are the lowest favs and highest unfavs of any of the candidates.
When the headlines for almost every newspaper, news channel, or website reads ‘Palin: Abuse of Power’ that drops peoples perception of her right or wrong. That is purely based on data and facts.
If McCain loses this election in a blowout fashion it will also affect her future on the national stage. Who is going to vote for a person that just lost horribly in the prior election? Also, who is as politically divisive as George W. Bush by her very existance.
Romney/Jindal 2012!!!
The smartest men in ANY room.
October 11th, 2008 at 11:03 am
SED Exactly
October 11th, 2008 at 11:03 am
Romney Jindal 2012
October 11th, 2008 at 11:35 am
WOULD ROMNEY BE DOING BETTER?
http://blogs.tnr.com/tnr/blogs/the_stump/default.aspx
The economy is collapsing and the GOP is stuck with a candidate who doesn’t know jack about economics. But what if Mitt Romney had won that hard-fought Florida primary and grabbed the nomination? Romney’s whole business career was about turning around distressed companies. Plus, he’s far less identified with George W. Bush than is McCain. And unlike McCain he might not have had to give up on Michigan, where his father was governor. (What state pray tell is McCain holding that Mitt couldn’t?)
I know there are plenty of strikes against the guy. But it’s an interesting counterfactual to consider–one that makes a lot more sense now that foreign policy has all but disappeared from the conversation.
P.S. Good point from commenter timteeter:
Or for that matter if McCain had sucked it up and made Romney his VP.
You might’ve had far less base enthusiasm at convention time, but delivering a strong economic message right now could’ve been far easier.
October 11th, 2008 at 12:20 pm
Sorry Andrew, I don’t agree at all that Palin is a perfect VP candidate. Not only is she inexperienced, she doesn’t seem to have a clue about life outside of Alaska and has had to be “brought up to speed” on the politics of the day. Sure, she knows about energy and conservative issues. Ask her about anything else and she’ll change the subject or hope that a wink and a smile will make you forget that you had asked. I think she’s great for Alaska and maybe a good senator one day, but making her VP was like throwing your 2 year old into the deep end–just not a good idea.
I wonder if Palin had disclosed this issue honestly to McCain or did McCain just blow it off. Either way, not a good idea to choose a running mate under investigation.