I too am worried about a candidate who pals around with socialists. In this case, Mr. McCain has been seen cavorting with a hot little number from Alaska, the most socialist state in America (her words). Ms. Palin is not one who simply may or may not have joined a group which ascribes to these views; instead, she ran her state on this very Marxist platform and bragged about extracting an extra $1,200 from the capitalist oil companies to pay to every do-nothing citizen. From the few to the many; redistribute that wealth. Especially if it makes you extremely popular among the consituents. (I believe GB cited her massive popularity in AK as a pro-leadership tenet.) I might add that Alaska can see Russia from its backyard, and her husband has joined secessionist causes. No doubt so she could then take Alaska literally to the left and join Commie Russia. The point is, there has always been a redistribution of wealth in America's system. Let's not drink the Kool-Aid that Obama is alarmingly red when the candidates proposals are truly not that different. Despite the above actions of Governor Palin, I actually do not believe McCain/Palin are socialist.
Maybe Obama is less pragmatic than I give him credit for, but I don't think so. I'm voting with my eyes wide open, (but in no means am I holding my nose). Jeez, think about the last two elections. This has been a God send election (if one assumes McCain is closer to old form than version 2008).
Response to earlier GB response- I in no way meant to exculpate regular Joe America's greed from the economic crisis...they will also always try to game the system. Everyone expects that, but my point is these folks were abusing, in a sense, a massive deregulation in the loosening of lending parameters. I think it was selfish and short term thinking on a micro level, but it was not nefarious; it it was 'legal' and allowed, who are they to understand the macro repercussions? Besides, they get their punishment, i.e., they now get to go through foreclosure. Don't believe the hype; they are not getting bailed out (which is proper and correct). My comment with Wall Street was not directed at the amount of the Wall Street bonuses (although those are figuratively criminal), it is that the incentives to reach these amounts fostered selfishness over the health and welfare of the corporation. The internal checks and balances were ignored or disgregarded. This sacrificed shareholders, yes, but in the tragedy of the commons, it then sacrificed the entire US economy. These people knew better and could not truly have felt they were helping out their company's core strength, and thus, they were morally criminal. Its been a decade since I took Corporations law, but I did pretty well. I also spent an afternoon with a securities attorney a few weeks ago who pretty much assured me that most of the actions taken could lead to civil liability, if not criminal liability. That worked out well for the Enron shareholders. Point being, everyone games the system, but the Masters of the Universe are smarter in that they avoid punishment and their gaming results in massively larger rewards. Didn't Greenspan pretty much say this was what he missed with his policies? BTW- first, you defend Palin's credentials and then Wall Street morality. You are on a devil's advocate roll, baby.
Wednesday: FOMC Announcement, CPI
9 hours ago