Tuesday, October 7, 2008

Economics and tonight's debate ... liveblogging

McCain?: he is merely offering the same Gilded Age, late nineteenth century inflexible orthodoxy, of no regulation. This is not reform, this is not change; this is a commitment to the kind of policies that got the economy into the current crisis.
No, this is not a matter of isolated corruption (contrary to McSame's claims tonight).

No, this is not the time to make solitary scapegoats, as New York's "Daily News" did today, spotlighting Richard Fuld, former Lehman Brothers CEO. This is not a matter of one man's errors. This is a systemic crisis. The deregulation mentality needs to be reversed. Obama properly targeted McCain for supporting the deregulatory trend that led to this financial crisis.

Obama is creaming McCain tonight. Obama is speaking to the crisis. McCain is just mouthing the same cliches of traditional free market economics. No analysis of the contemporary economic crisis.
No wonder economists are supporting Barack Obama over John McCain by a two-to-one margin. (See the site, "Economists for Obama.")
The list of major economists supporting Obama --these are the early supporters. This is a list of economists/supporters as of June 3, 2008.

Yep, Warren Buffett --that's not Jimmy "Margaritaville" Buffett. Buffett, the famed Berkshire Hathaway investor, is supporting Obama.
(See the news about Buffett's May 19 endorsement.)
So, don't believe the right wing radio delusional hype. Obama is not a socialist; he will not institute socialism. Why would Wall Street people such as Buffet supporting Obama if he were a socialist?!
Recall Buffett's statement, "Obama could run a business."

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