LISTEN UP, (about them markets and the economy)

[nadinbrzezinski]

See that thing that happened in New York and now is spreading world wide.. that minor thing... you know what I am talking 'bout

The talking heads (european) are spooked on the CNBC... as in really spooked, as in world wide recession, depression spooked.

That said.... this SHOULD BE an election game changer. What is happening is the house of cards many of us expected to fall a while ago. It is happening RIGHT BEFORE the election...

Even if Joe and jane sixpack don't understand how this affects them (trust me it does) they do understand that the price of milk, eggs, cheese and other things are going up. They also understand that their neighbors have lost jobs and are having a hell of a time getting another one.

I don't expect folks to fully grasp what this implies. I know I get it a little more, and just a little... but I am still trying to figure out exactly the full consequences of this. Why I am watching the CNBC Squawk Box late at night...

So here is the message for you... forget about moose hunting.

Forget about lipstick

IT IS THE ECONOMY STUPID... it is that simple

Got it? It is that simple... it is the economy stupid

Don't expect joe and jane to get exactly how this is CONSERVATIVE free trade, trickle down, smoke and mirrors led to this... last time around took years and PhDs to do that... but even the analysts are using my analogies to 1929 and 1930 (scary), so use that... this is Republican economics. If you want more of this, then by all means, vote for McCain and Palin... if you don't... then vote for the other guy... (and yes racism is stopping some folks ok... lets be brutally honest here)

Oh and given that McCain said the fundamentals of the economy were strong today... I suggest you start calling him John Hoover McCain... since the last one to say that in the middle of a disaster was Hoover, and even an idiot should know that and who Hoover was...

So all together now

It is the economy

IT is the economy

IT IS THE ECONOMY

Forget all other culture war shit.

IT IS THE ECONOMY

[lapfog_1]

1. Yup, just quit watching it myself

Asian markets down 4.5% to 7.5%

Japanese banks that had exposure to Lehman Brothers are down 10% or more. Japan's central bank is putting up another $8 to $10 B to shore up the Japanese banks, analysts are already saying not nearly enough.

Rumors that Merrill Lynch is going to release earnings that show the worst performance since they went public (possibly the worst ever for the firm).

Rumored $70B bailout might be in the offing for Merrill from the treasury.

Fed expected to cut rates, possibly drastically, to stem the deepening crises.

Sigh.

[nadinbrzezinski]

4. At least Merryl is now in the hands of BOA

so I feel a little safer about that one

But this is bad... when this is over, the environment will be very different and I expect to see quite a bit of regulation back in place, even Glass Sttegman (sp)

[lapfog_1]

16. No, everyone is right down thread.

It wasn't Merrill... it was some other big Wall Street firm... and I can't remember the name now to save my soul. Sorry for the confusion.

[nadinbrzezinski]

20. No worries, so many of them that we are all getting them confused

:-)

[PA Democrat]

33. Are you thinking of AIG?

They are a large insurance company. Also, WaMu (Washington Mutual)a bank, is probably going down the tubes.

It's going to be a very bumpy ride. I only hope that we get some tougher regulation of the financial sector as a result of this fiasco.

[sentelle]

36. BOA is a house of cards

BOA is also shaky as well. Aside from their bad loans, they bought countrywide, with all of their debts and lawsuits.

I suspect that BOA might be circling the drain as well.

[nadinbrzezinski]

48. Better not, that is the fifth largest bank in the world

iirc

[bdamomma]

38. kick

[dkf]

5. I thought Merrill was being bought by BOA?

And wouldn't that mean BOA had already seen the balance sheets?

[nadinbrzezinski]

7. It has... last night

[dkf]

So why would they bailout Merrill now? Isn't that over?

That post doesn't sound right.

[nadinbrzezinski]

12. Supposedly they bought them last night

confirmed this morning by Mr. Lewis, CEO of BOA.

Perhaps that federal money is to sweeten the deal

[KillCapitalism]

2. Yes, it's the economy stupid.

Unfortunately a lot of people are too stupid too see this. They're too caught up in the culture wars and drooling over some old cougar.

[nadinbrzezinski]

6. Hey I already did this today... when I went to get groceries

somebody tried to tell me about the culture wars shit (in their case how we could elect a man who believed in infanticide)

So how about your 401K

What... you don;t get it.

No, you don't... republican economics are killing your 401K, so what are you planning to eat when you grow old

Person walked away... but had that look of befuddlement

And I suspect we need to do this now OFTEN... and I should have called McCain Hoover II as well... and didn't

[GoesTo11]

29. So how about your 401k? That's a winning line for Obama

I emailed a buddy today - a Bush voter - and asked how his 401k was doing, along with a little reminder about stock data. He got the point.

Like your way of phrasing it.

[anigbrowl]

3. Totally agreed. All the other stuff is a sideshow.

Democrats win if we focus on the economy. What McCain said to someone's friend's grandma in 2003 or what brand of diaper Palin uses does not matter. It's the damn economy.

[upi402]

8. Yep. It's the economy stupid. or for the economists, "Got Rope?" n/t

[nadinbrzezinski]

9. Now that IS funny, in a gallows humor kind of a way (NT)

[Trajan]

10. It is ALL of it .... NOT just the economy ....

I dont get these posts that demand a one dimensional approach ... as if WE cannot understand more than one subject at a time ....

Look .. if all YOU want to discuss is the fucked up economy, then have at it, and have a ball ...

But why on earth would you try to direct the comments of everyday DUers and Democrats to speak ONLY of the economy ? ....

Can we not speak of more than one single thing ?

Look .. Im starting to feel a bit insulted .... as if we are too ignorant to manage more than one area of commentary ... We are fully capable of managing the ENTIRE RANGE of subjects ... bar none ...

Yet another 'Mommy' thread .....

[nadinbrzezinski]

13. I;ll tell you why... we loose on the culture war issues, every day and twice on sunday

they are experts at this

You know why we won in 1992? A simple message to joe six pack... IT'S THE ECONOMY STUPID

Look at every successful election...

They involve a simple message every time

You and I can walk and chew gum at the same time... but many folks simply can't

Especially en-masse

[Trajan]

17. I dont buy it ....

I know many people who do NOT understand the complex issues involving finance, but understand perfectly well what a lie is ....

The LYING is getting much traction right now, and these are MORAL issues .... Hell ... Even Rove is kinda embarrassed by it .... The Troopergate issue ... the Bridge To Nowhere issue: BOTH are drilling into McShame's poll numbers by destroying his credibility : Dont EVEN think about giving that goldmine away ....

No .... I think it all matters, and EVERYTHING should be addressed .... I do not cede ONE INCH to culture warriors .... not one inch ....

[nadinbrzezinski]

18. We can be free to disagree... free country and all that

(But the history of the last half of the 20th century is the proof I need)

[NYC_SKP]

25. The 1992 message was by a Joe-Sixpack, Bubba...

In all honesty, that Bill fit the bill as someone you could "have a beer with" was very helpful, and we'll never know how much of his support was because of that and how much was his message on the economy.

Palin is getting some support because of her ordinariness. She's picking up the stupid vote, the stupid vote doesn't understand Obama.

We have to fight on both fronts, the economy is our issue but many just don't see the lies for what they are and go with what seems more familiar in personality.

Sad to say, but I think it's true.

[underseasurveyor]

11. You have an excellent 'bite' in what you said.

Simple and connected enough I'd like to at least hope a conservative simpleton might be able to grasp it..

We need to remind them that we are where we are because the,
"CONSERVATIVE free trade, trickle down, smoke and mirrors led to this..."

[nadinbrzezinski]

14. Of course make them wear it

A neighbor of mine was surprised today when I laid the connections of this mess with 1929 and 1870...

Yep, same stupid economic theory, different decade (ok with some variations, but you get the picture)

[Ghost Dog]

32. Those so-called conservatives have been pretty damn RADICAL

what with their deregulation of most everything and all these crazy new "financial instruments" (bits of paper with empty promises on them) that have turned out to be just one giant PONZI, PYRAMID-SELLING scheme.

[Hubert Flottz]

15. "IT IS THE ECONOMY STUPID"

It's the stupid economy! And Tom thought he was the "Hammer"

[flamingdem]

19. I agree. I thought about this all day. CNBC had a laugh at John McCain's comment

He is looking incompetent on the economy now.

[nadinbrzezinski]

21. Well today we had issues on the teeveee...not lipstick

I wonder if moose lady even understands why that ain't gonna work no more

I know her answer

In what respect Charlie?

[Have2Win]

27. Obama better link McCain to the economy.. not just blame Bush

Obama better link McCain to the republicans. Obama blamed bush today.. the dummies out there who still support another Bush clone, don't get the connection. McCain is blaming Congress.. hasn't he been in Congress for over 20 plus years? Obama has got to come out swinging.. McCain & his party handed Obama a home run today..

Swiftboat McCain & that silly woman who believes in end times..

Come to think of it.. maybe she has something there..if those two win, it will be the end times.

[curious one]

22. This is Sept-Oct. surprise and will get worse before election.

[nadinbrzezinski]

23. In theory this should not help them

though I do expect something to try to distract us from this mess

[Have2Win]

24. John Mc Cain calls up Herbert Hoovers ghost, or maybe he IS Hoover

McCain said today " The economy is fundamentally sound" - Way back( when McCain was born)before the Great Depression hit- Hoover said the very same - The economy is fundamentally sound..

Is McCain conjuring up Hoover or do all the Republicans travel down that river- De Nile

If Obama doesn't run with that gem.. then he deserves to lose..

Of course we have a lot of masochists who will vote for McCain/Palin because they are products of the American education system.

God Help America!!

[nadinbrzezinski]

26. Welcome to DU... and remember thankfully John Sidney McCain

was not old enough to Join Washington's army.

:-)

[girl gone mad]

28. From Peter Schiff:

"Now the world is finally beginning to realize that we're not good for the money, we can't pay it back, because we've been borrowing to consume. Nobody has loaned us money to build factories to build infrastructure."

"We have nothing to show for the trillions of dollars the world has lent us except empty houses, plasma TVs, SUVs, we've blown the money on consumption"

"The world needs to recognize that the US is not the engine of the global economy - we're the caboose. Anyone can consume. The solution is for the world to write off the US."

[earth mom]

30. How can people NOT make the connection between 1929 and today???!!!

:wtf: Were they asleep during history class?! Or have they never read a book or watched a movie that was set during the depression? :wow:

I think your OP is absolutely dead on and is what we should be pushing 24/7 to fight these bastards who are robbing this country and all of us blind! :grr:

[nadinbrzezinski]

45. One of my neighbors... he is in his sixties, maybe seventies

we were talking 'bout this yesterday in the elevator.

He really didn't know enough to understand that this is republican economics at its best.

So there you have it.

Anecdotal, absolutely... but that is the reality

[FrenchieCat]

31. Right you are!

And that's John McHoover to you!

[nadinbrzezinski]

43. I like that... John McHoover

[GeorgeGist]

34. October's surprise may come early this year.

Just in time, perhaps, to stop the IGNORANTS from of imposing their hell on everybody's world.

[natrat]

35. when will obama call out phil graham for the pos he is and his mclame connection

[Hugin]

37. Kicked & Highly Recommended.

Listen up!

[ozymandius]

39. Kicking and Recommending

Just more of the same: deregulation. McCain says that economy will cure itself if we just deregulate more when deregulation is what got us into this mess. McCain's cure for these ills is reminiscent of medieval medicine. He wants to bleed a patient suffering from anemia.

[prairierose]

40. Ozy, those religious fanatics who worship the free market school...

just keep saying the markets aren't free enough. Every time this economic theory fails, their fantasy is that is failed because there was still too much regulation. Because the invisible hand of the market will fix everything, according to them. They have been trying to peddle this crap for years and every time that they get control of any country's economy, they wreck it just like this one. And after the wreck, they say,"The market just wasn't free enough. There was still too much regulation."
Because the truth is they are not running the economy for the good of the many but the good of the few rich.

[ozymandius]

41. Right on every count.

If they want to experiment with the Milton Friedman model - they can always try so in their own homes. As for everyone else willing to listen and learn: the Chicago School of Economics theory has been tried and it failed in every attempted micro- and macrocosm to date.

[Naturyl]

42. Recession does not exist.

The fundamentals of our economy are strong. In fact, the more signs there are of recession, the stronger our economy actually is. Depression is strength. Poor is rich. Unemployed is employed. Homeless is housed.

[Captiosus]

47. I'm a big fan Mr. Orwell, can I have your autograph.

:)

[Naturyl]

49. Unsigned is signed.

So grab a blank sheet of paper and there you go.

[Cleita]

44. For what it's worth Hell has frozen over.

I spent a few minutes in the main house talking to the family last evening. First they wanted to talk politics. Usually, I am told they don't want to talk politics so shut up and talk about something else or leave. They are apolitical and up until now have felt no reason to vote. It turns out their mostly Republican rancher friends can't stand madame Palin, once had respect for McCain but don't anymore. They are worried about Obama having the experience to be President. I said he was very intelligent and is choosing the best educated and most experienced people to help him and they probably will have jobs in his administration. His choice of Joe Biden as VP should show that to their friends. They agreed that the friends were already happy about Biden. Then we talked about the Wall Street meltdown. Apparently every one of their friends and them have finally figured out what is happening and blame it on the Republican dominated elected leadership. They are on board with Obama and voting in Democrats in all offices to save this country, which they agree is in the crapper. I didn't want to rub in their noses that they were part of the problem supporting Bush this long but I thought best just to be grateful that the screw is turning.

[nadinbrzezinski]

46. Tipping point perhaps?

why it is a small blessing this is happening NOW and not sixty days from now

[Ghost Dog]

50. Listen up here: Obama, in Golden, Colo. Great Economy Address (transcript, VIDEO)

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4012804
http://www.dailykos.com/story/2008/9/16/16623/9233/211/600830