Tuesday, October 07, 2008

-508 Points...Need I say more?

What a mess. Even states, such as California, are looking for bailouts. And it's not just over here. Whole countries are going bankrupt.

I really am wondering where it will end. If McCain comes out tonight and tries to talk about Obama's ties to Bill Ayers when the world is crumbling around him, I think it will backfire and the people at that town hall will not let him get away with it.


Ruth Hull Chatlien said...

I'll bet that Obama will clobber him is he tries to evade the economic issues.

Mauigirl said...

Ruth, I hope you're right!

Anonymous said...

indeed. the economy's just too important right now.

Christopher said...

The DOW is down more than 5,000 points from last October.

I opposed the $700 billion dollar bailout of Bush's cronies and family members on Wall Street from the beginning. The American people have been duped by Bush's economic propaganda team lead by Paulson and Bernanke who were inexplicably helped by Pelosi and Frank.

The simple reality is, until the bad mortgage paper is off the books, there will be a capital problem and banks won't lend. It's Economics 101 and the $700 billion dollar bailout doesn't address this structural problem.

Now we're learning AIG sent fat cats to a California spa to the tune of $440,000 just days after getting their $85 billion dollar bailout. Tell me, how does this help Main Street?

Mauigirl said...

Kouji, I was glad that McCain didn't attack Obama on character last night - I guess he knew better - instead coming up with his own plan to rescue mortgages; which Rachel Maddow said was actually covered in the $700 bn bailout already passed. Probably McCain hadn't read it.

Christopher, I agree - it looks to me as if the $700 bn did nothing to help the market at all. And I don't think the 1/2 interest point they lowered the rates by this morning will do it either. It is too big a problem for an interest rate decrease to make a dent.

Mariamariacuchita said...

I'm afraid it could end with many of us working until we are in our 80s.

Anonymous said...

He didn't talk much about Obama and Ayers, but he did try to pin the economic mess on him. What a tool!

Anonymous said...

I don't know why everyone is surprised that the markets are still falling. The bail-out bill was only passed at the end of last week. No money from it has entered the system yet, and I don't think anybody can honestly say they know what the money will be spent on. Was bail-out supposed to be a magic word, the mere utterance of which would clean up 8 years of crap? Unfortunately, I think a lot of economic blood, including mine, needs to be drawn before the system is cleansed. At that point the bail-out will turn out to have been superfluous.

Randal Graves said...

christopher, of course it helps Main Street, it gives us something vile to aspire to! God Bless Gordon Gekko.

DivaJood said...

Wow. Looks steeper than the Maui Downhill Bike Ride.

I'm just saying.

Seen you around the interwebs for a while now, don't know why I've never been here before. Adding you to my blog roll.

Comrade Kevin said...

As stupid as the politics McCain has advanced recently are, it would have been totally suicidal to use the Ayers attack last night and that's why we didn't see it.

Dorothy said...

Sadly it doesn't matter who's right we're the ones feeling the losses and pain while the idiots (all of them) are still out there....AIG a great example living in lala land..and arrogant as heck..I might add.

I can't recall ever being so frustrated and close (and I'm only saying close) to not voting.

Dorothy from grammology

Mauigirl said...

Maria, I'm afraid you're right. I was hoping to get out in a couple of years but doesn't look like it now!

Spartacus, you're right, he tried to pin a lot of policy-related stuff on Obama but Obama seemed to fend it off admirably.

Glenn, good point - there was 8 years' worth of a mess to clean up and as the saying goes, Rome wasn't built in a day.

Randal, "something vile to aspire to" - priceless.

Diva, LOL, great analogy! And thanks for blogrolling me, I added you recently as well - like you, I had seen you everyplace and have no idea why I hadn't added you before!

Kevin, I think you nailed it. He knew the crowd would not go for that kind of thing. It only plays well when he or Sarah are preaching to the choir.

Dorothy, it is frustrating, especially now that they're giving AIG even MORE money after those jerks spent $400,000 partying. Unbelievable. But please do vote and I hope you vote for Obama. There is too much at risk to even consider letting McCain/Palin into the White House.