Bush on the Economic Crisis

The White House: The G7 at the White House. President Bush has stated the following on the economic crisis, " In my country, it is important for our citizens to have understood that which affects Wall Street affects Main Street as well......Finance ministers and central bankers have acted to provide new liquidity to markets, strengthen financial institutions, protect citizens' savings, and ensure fairness and integrity in the financial markets.......The G7 nations have pledged to take decisive action to support systemically important financial institutions and prevent their failure, provide robust protection for retail bank deposits, and ensure financial institutions are able to raise needed capital. We've agreed to implement strong measures to unfreeze credit, ensure access to liquidity, and help to restart the secondary markets for mortgages and other assets. We've all agreed that the actions we take should protect our taxpayers.......we must ensure the actions of one country do not contradict or undermine the actions of another. In our interconnected world, no nation will gain by driving down the fortunes of another. We're in this together. We will come through it together......The leaders gathered in Washington this weekend are all working toward the same goals. We will stand together in addressing this threat to our prosperity. We will do what it takes to resolve this crisis....." The Market it could be argued has hit rock bottom, this is the time to buy if your in the market. It important as was noted on one of the networks, not to look at the price of the market but the company. If the company is going to make money then its good to buy. If your in your 20s and 30s this is the time to buy, some of real blue chip stock is down, they are cheap to buy, in other words if you can afford to lose it it invest in the market. The long term prospects are good for shares.

Obama Lied by McCain

Another hard hitting political ad by McCain. Going after Obama and his friendship with a Domestic Terrorist and the role of the Democrats in the economic crisis.

Whats the MESSAGE !

The New York Times: Reports how Senator McCain is making nice comments about Obama, how he is trying to douse the fire in the Republican belly of his supporters. In other words Senator McCain has listened to the Liberal Times, the paper does not want any critical comments of Obama. I don't think Ronald Reagan had any time for Jimmy Carter or Walter Mondale, McCain is afraid of being called a racist, the left is doing that already Senator, if you don't want to win, hand over the baton to Palin she would make sure Obama would not get elected dog catcher.

Politics Today

Its the weekend folks, so bit of a break but did see Governor Huckabee on Fox suggest that the economic crisis could be a form of economic terrorism, the theory in the view of the Governor is that late in the day there are heavy negative trades thus a downward trend of the Shares. I have my doubts, that would take a lot of the Dollars, that would have to come from a country, Iran or Venezuela. The fears of a recession has caused the price of Oil to fall, if the profits from Oil goes down then these governments are in trouble. I also don't think the Russians want to play that game, the USA would get them back further down the line.

Also so Governor Palin on the BBC and Sky go after Obama on the issue of Abortion, the way the Governor was going after Obama gave the impression that Obama was doing abortions in his spare time. On the issue of Abortion this page is very liberal. Its a privacy issue, and lets be honest blokes, its the woman that has to carry a baby for nine months, so they get the final say in my view of this issue. As a Campaign Issue it might work, but as stated Obama will win, the economic 9/11 has tainted the Republican brand.

Obama another Reagan ?

The Boston Globe: Argues that Obama could be the heir to Reagan as in his Campaign Style, the article states the following, " Folksy, funny, and infectiously optimistic, Reagan was an accomplished communicator. Less witty but more cerebral, Obama is also a compelling speaker, with a Reagan-like faith in the power of ideas. ...." This is of course the reverse view held by the Liberal New York Times, the Times argued that Obama was not like President Clinton, Obama would not really feel your pain, and as suggested in this blog, Obama needs to get some acting skills so to do warmth. I think the writers at the Globe need to smell the coffee, Obama is a great speaker and he did well in the Town Hall Debate with McCain but warm is not a term that could be used to describe Obama, intelligent, cool, distant, great at big speeches. Those are some of the terms that could be used and with some justification. Obama when he wins in November has to get some acting skills when it comes to showing warmth, there will be times when the people look to him as President to feel some anguish as Reagan had to do, a cool distance will not go down well, so Obama's handlers need to get some Hollywood help to make him a better President.

Economic Crisis

BBC News: Reports on the plan by the G7 to protect the Western Economy. What was interesting was the plan by the US Government to take shares in banks and Financial companies. The major bailout of Wall Street and the UK plan to bailout the banks should prevent a depression if not a recession. The cost will have to be paid some sometime, either in cuts in government spending or higher taxes. In a recession you don't raise taxes thus we come to least liked option by Government, cutting spending. As it looks by the Polls Obama will in a couple of weeks time, thus we can look forward to the USA getting out Iraq within a year, this should mean that defence spending can be cut, Afghanistan is a long term problem, Obama has stated there will need to be a surge in Afghanistan, as it the USA did Iraq. The operations in Afghanistan will take years and even then you will still get low level violence, the main worry is Pakistan, should that fall to the terrorist then all bets are off, will Obama turn out to be the next FDR or Hoover.