Thursday, October 16, 2008

Economy, Crisis, Politics, Bailout

Reflection on the early effects of the modified, super-duper-amazing Paulson plan to save the World U.S. economy (i-can-has-cheezburger style)
Some explanation: the chart on the left is the TED Spread, which shows the difference between the interest rates on interbank loans and short-term U.S. government debt ("T-bills"). Basically that's what shows the willingness of banks to lend to each other and ultimately to their customers (and it says DO NOT WANT! to lend you money...)
On the right is simply the DOW, NASDAQ, S&P 500 indexes in free fall (as of 15 Oct.)

Obama, McCain or Joe the Plumber?


Obama played it extremely safe, and probably lost a few points not responding properly when McCain presented him as a dangerous pinko. (Big government terrorist, tax increase for the average Joe-$250K-per-year, and most importantly some weird government mandated -- OMG! -- healthcare to which Obama didn't respond at all!)

Obviously both candidates tried to appease the hypothetical average Joe who's gonna make a lot more than $250,000 by plumbing (to make Obama's proposal a significant tax increase worth talking about, he has to earn a lot more) even in the midst of a depression recession.
No doubt Joe's appearance as the Average Joe, whom "low information voters" could identify with will help McCain.
Anyway, good luck in achieving the American Dream, Joe. MSNBC's coverage below.