| ONE
MAN'S OPINION
Bailout
Last month the US announced a $700 billion "bailout"
of the financial industry, on top of an $85 billion cash infusion
to AIG. The stock markets responded by having their worst drop
in a week in history. The experts keep saying they can't figure
out why the markets are cratering. It's pretty simple.
First, the public does not understand what the bailout is. All
we hear is that it's going to cost at least $700 billion. Last
I heard, the bailout plan was over 400 pages, and included a lot
of additional spending on unrelated issues just to get enough
votes to pass it. I didn't read it, nor do I think a lot of the
people who signed it actually read the whole thing. For all the
various tips tricks and strategies, the stock market is at it's
core a measure of confidence in some assets. By putting $700 billion
of our tax dollars into it doesn't give people confidence because
they still do not understand it.
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Our Finest Hour, Our Biggest Shame
On the one hand, it can be said that America has really come a
long way when a non-white male is even being considered for the
top 2 most important jobs in the country. On the other hand, it
can be said that America really hasn't come far enough when there
have been so many subtle and blatant accusations about racism
and sexism. According to the opinion polls, a majority of Americans
of all colors believe that Barack Obama is ready and qualified
to be the next President of the United States.
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Endorsement
Now, having said all that, I'm
voting for Barack Obama. My endorsement will not, nor will I attempt
to, rise to the eloquence of Colin
Powell's endorsement of Barack, but I will give 10 reasons
for my vote.
- McCain's
bailout plan includes buying mortgages at face value from banks.
The banks who made these bad loans would be made whole and we
are left holding the bag. He doesn't want us giving banks money
in return for equity, but he doesn't mind us giving banks money
in return for bad mortgages.
- The John McCain of 1999-2000 would have gotten my vote had
he won the Republican nomination. He was a maverick. But after
the Republican party pulled so many dirty tricks to destroy
his campaign, and he crawled back to them, going so far as to
endorse the 2004 nomination of President Bush, I lost all respect
for him. I don't like Joe Lieberman, but I give him props for
realizing the democrats in Connecticut didn't want him and leaving
the party.
- Katie Couric asked Sarah Palin what newspapers she reads.
That was a month ago. She still has not answered the question.
How can you expect a VP to govern if she can't answer that simple
question? My preteen son can answer that question. And I wouldn't
want him a heartbeat away from the Presidency either
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Proof That We Just Don't Learn
A month ago, gas prices were at the $4/gallon level and many people
were cutting back on their driving to save gas. Now that gas prices
have dropped close to 50%, all that has gone out the window and
people are resuming
their previous driving levels. Brilliant. Sooner or later,
probably later, we'll learn.
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