Doea McCain know what Dow Jones is?

Somehow, Sen McCain's camp has an embarassing gaffe and we get this:  "So annoyed that McCain tossed his longtime friend under the bus faster than, well, a typical Obama under-the-bus tossing."  Stay classy First Read, you guys are better than what you've been showing us lately.  

does the mccain camp still thinks this is a "mental recession"

mccain lies about voting record on veterans issues
http://sensico.wordpress.com/2008/07/10/mccain-lies-about-his-voting-record-for-veterans/
or

http://sensico2.blogspot.com/2008/07/my-blogs.html

Of course McSame needs to stay to prepared remarks, that Carly wrote for him.  Who is he going to have answer questions for him? Phil Gramm?

Finally, America is getting the true sense of  McSame: this aging, angry, unimaginative and uninspiring mistake of a candidate.

How many GOP'ers are now realizing that his nomination was a huge mistake?

So much for the NEW repackaged McCain!

Obama/Kaine 08

Maybe if the people who made $30K a year didn't buy $300,000 homes we wouldn't need the government to bail them out.

If you want the government to run your life and hand you everything cause you "have a right to that plasma TV" then please leave this country.  We the people should be capable of governing ourselves and not sign paperwork we don't understand.  It pretty much said in your contracts that in 2-5 years your payment is going to go up!

Hmmmm, so Bear Stearns deserves a bailout but Fanny and Freddie don't? Interesting . . . but not surprising.

Remember when the Republicans were trying to privitize Social Security and touting what a great return folks could get in the market? Guess those folks would have needed bailing out too, huh?

Republican economics is not economics. It's lie to the poor to protect the rich. Just because it's wrapped in a flag doesn't mean it's good for ya folks . . . let's use our brains this time . . .


P.S Thanks for all the kind words from everyone this morning. . . I enjoy your posts as well - nice to know that there are some sane folks left in this world! :)

Quit your whinning.  Suck it up remember........

Fammie Mae and Freddic Mac are agencies that quarantee the mortgages of millions of Americans.  The collapse of the housing market and the 53% inrease in foreclosre rates over the prior year, has caused these agencies to payout billions of dollars to lenders on loans they guaranteed.  They are near bankrupt and desperately need an influx of capital to revive them.  The governmaent said no to that todaY.

Should these two agencies collapse, millions of Americans would be displaced and the country would be thrown into an economic fiasco that would make the "Great Depression" look like a mild recession.

So much for "mental recession", this is a HUGE crisis for fiancial institutions who, themselves, are barely solvent.

true Obama style lets not fix it lets point finger at someone else use it to slam them .This is the new non political higher road. My land he is so above it all. pulling us togeather and being a new direction. Yep I see Chicago written all over this guy. He will change nodda and if by accident he does it wont be good. So full of himself I think he truly believes he is only person on earth with all the ans. Only prob he isnt shareing any ans. cause I dont hear anything but old refrains from his arrogant mouth.

First read I see a lot of bashing if you dare to make a comment not bowing to his royalty. I thank you for the site and to have talk on both sides. THAT is tryly American and I am proud to be one too.

No big deal, its all in our heads...

We're in high general election mode sooner than I thought we would have to be but the tv commentators (with their free advertising campaigning efforts to make John McCain out to be something he's not) - we're all going to have to raise it up a notch.

Under no circumstances should John McCain be our next president. The Republican Party has to go.

Brian, Chuck, Nashville, Donna, Sherri, Michigan Mom, Sierra, CA, Carol, Midwest Mom, Just sayin', Rick --- and I apolgoize to those I've left out -

You know what you have to do - continue to fight back hard. The Republicans are a nasty bunch made up of liars.

Just four months and counting. We're so close.

Donations to Barack Obama's campaign will help. He's doing all he can to get elected - he can't do it alone. He needs our assistance.

Does anyone at First Read, MSNBC, or people making comments believe that McCains gaffes, misstatements, i.e. the Steelers comments, (oh, I guess I could go on and on) will cease/stop? If you think this was simply a bad week. Wrong.  Faulty thinking and attempts to answer questions about the housing market, energy, social security, stock market, etc. will continue throughout the campaign.  The guy is trying to be be relevant, but thought and memory lapses will continue.  Eventually, most everyone will notice and say "Why didn't we see this sooner?"  Well, this is sooner. For those who are able, stay focused.

Now we all know that this is just a mental state. We need to simply think happy thoughts and it will go back up

Can't be. I'm sure I'm just imagining this.

This is not a surprise to me.  And it will get worse.  The price of gas has to come down now to save this economy.  Bush's comments today are so idiotic.  The first measure that should be taken is to close the Enron loophole.  Now, this summer.  That is the very first culprit and then other measures can also be done such as the ones that Senator Obama's plan proposes.  
The investors are buying oil because it is more valuable than the American dollar.  We don't have electricity on the market.  This is a major mistake to have done this.  Thanks Gramm -  For destroying the middle class while you sit in your million dollar house wondering why your maid can't get to work.

Vote out all republicans this election.  They haven't a clue.

To quote BO supporters from the primary when HRC called for health care reform.  BO has been in the senate for almost 3 years now, and was in the senate last year.  Why has he not presented legislation for a vote and implemented his "major response" to the housing crisis.

I tell you I am not a JMc supporter, I am staying home in November but the more I hear the more I think that these two are a pair of clowns.  Dumb and Dumber.

This is not a surprise to me.  And it will get worse.  The price of gas has to come down now to save this economy.  Bush's comments today are so idiotic.  The first measure that should be taken is to close the Enron loophole.  Now, this summer.  That is the very first culprit and then other measures can also be done such as the ones that Senator Obama's plan proposes.  
The investors are buying oil because it is more valuable than the American dollar.  We don't have electricity on the market.  This is a major mistake to have done this.  Thanks Gramm -  For destroying the middle class while you sit in your million dollar house wondering why your maid can't get to work.

Vote out all republicans this election.  They haven't a clue.

I am worried about more than that happening. I was listening and we may see a disastor if Obama gets pres. Everyone will unload everything due to his tax hikes. You wont be able to give away stocks or homes. Just something else to think about with the arrogant one.

other than jabbing someone else Obamas response was what????

If you listen very carefully to him, you will understand that McCain doesn't have a plan that will aid homeowners during this difficult period.  He doesn't understand the economy by his own admission.  And his chief economic advisor has just done a political belly-up.  So he is up that proverbial stream without a means of locomotion.

It's ALL Psychological !!

It's ALL in your heads !!

Stop WHINING America !!

Prosperity is just around the corner

John McCain, More of the same

John McCain, there’s No Fool like an Old Fool

John McCain, George Bush’s 3rd term

I guess there's an upside to being too poor to have any money invested. At least I'm not loosing anthing.

You saw his (confused) caught off-guard reaction yesterday re Viagra vs birth control. The economy is going down the tubes and his reaction is to "stick to his prepared remarks"!
His reaction (confused) caught off-guard ,is to stick with his "prepared remarks"! This is the guy the GOP scraped off the bottom of the barrel.
He,obviously, has not gotten very far into Chapt. 2 of his Econ. 101 text.

Wow, can you imagine the "barbarians at the gate" if the privatization of SS had occurred -- how much would everyone have lost in these last six months?  It's a good thing that the Republicans couldn't mess with the financial safety net provided to our nation's seniors.

Dow at 11,000 down from over 13,000!!! Yeah, we're all suffering from a "mental" recession, and what a bunch of whiners all those investors have turned out to be.

Obama 08

First Read, please report this!

President Bush, during the G8 summit, was intentionally trying to sabotage Obama's attempt at making a speech at the Brandenburg Gate in Berlin, Germany during his Europe/Middle East tour later this month.

http://www.huffingtonpost.com/2008/07/10/report-bush-privately-tol_n_111993.html

First Read, please report this!

This is sad.The very thought that John "knows nothing about the economy" McCain is even close to Obama in the polls is sickening.No wonder Bush was elected twice, Geeeeeeezzzzzzz!

We continue to ignore the Dodd Shelby bill FHA Housing Stabilization Act of 2008 which was written word for word by Bank of America.

Countrywide shareholders have approved the buyout by Bank of America.

McFossil needs to ask Phil Gramm what he thinks he should do, since Phil thinks people are whining too much. Gee, do you think Gramm's dealing with UBS has anything to do with the mortgage crisis people are facing?

Great buying opportunity...

Market was oversold two weeks ago...watch the volume numbers....buy, inhale and make some money...

Thanks repukes, your party and the shrub brought us to where we are at. Question, Anyone still want to privatize social security? Anyone still want to vote for McCan't? Anyone??? your silence is defeaning.

To all those unsympathetic bloggers who've written that it's not the government's responsibility to help individual homeowners at risk of foreclosure because they made imprudent decisions - didn't these two giants make imprudent decisions as well - only on a much larger scale?  

It seems that the best way to keep Fannie Mae and Freddie Mac solvent is to stem the rush of foreclosures - keep folks in their homes and paying.  Work from the bottom to the top!

Msierra, Ira, and First Read posters.....

I don't understand what this market news has to do with McCain, as per Obama's statement. I should think you would have the facts to comment further. Please help me with your responses.

Thanks.

G-D help us. Show us the way.Amen.

Dow Jones in January 2001 was at 10,887. Dow Jones today opened around 11,250.
So, the economic policies of President Bush have given us a resounding 3.3% increase over 7 years of his stewardship.  Yes, 3.3%.
Now, I don't want to whine, or seem bitter, especially after seeing $2,000 disappear last week from my 401k, but didn't dude show up to work in January 2001 with a surplus?
Now, we're in a massive deficit and we've only grown a net 3%?
Yes, we were at one point at 14,000.  Strong no doubt. And yes, that was after 9/11 and thr crash we went through.  But then there's the rub. We were much higher a few years after 9/11/01 and now we're almost back to where we started from.
I guarantee you the folks running the oil companies, pharmaceutical companies, hedge funds, etc. would be out of a job if they grew their business a total of 3% over 7 years.  That just isn't going to cut it.

So, where do we go from here?  Well, Senator McCain's top economic advisor and personal friend, but who doesn't "speak" for McCain says that it's a mental recession and that we're whining.

Curious, if you look at your 401k; trying to help your parents buy medicines; trying to get money for your kids college tuition; trying to take a simple no-frills family vacation, how does the picture look?  Mine isn't too rosy right now. So, I don't know if I should see a psychologist, a psychiatrist (because it's now medical?) or an optometrist or an ophthamologist because things sure do look "fuzzy."
Looks like Al Gore knew something after all with respect to President Bush's fuzzy math.

Now, which candidate looks more likely to go forward with a similar economic policy?  I think McCain, and therefore it's time for me to move over to the Obama camp.  After all, while I'm sure my insurance plan will cover ED meds, it's rather skimpy on the mental illness (psych) coverage.

There is no way that anyone in this country should be without shelter, albeit a home. The problem in the past has been government's response to this problem. Building high rise government apartments or housing projects where they pile people on top of one another. Then allowing criminals and drug pushers to take over these areas and not enforcing homeowner maintenance requirements so the areas are condemned within a few short years.

I realize that people have to live where there is work but somehow we need to get people out from under one another, give them some breathing space, enforce that ownership be contingent on the homeowner taking care of their home as well as the neighborhood, and increasing the number of law enforcement officials to keep these areas safe and secure from the criminal element.

I am for the country helping others to afford housing but I also support some form of enforcement policies where people have to take accountability and responsibility for maintaining their homes. Obama is correct in that as a Nation we need to help one another when necessary but it is also up to each indvidual citizen to take responsibility for the cleanliness and maintenance of their homes. Most people in the U.S. feel the same way but become  frustrated and apathetic about their willingness to help others when they see newly built living quarters become ill-kept and crime ridden in a few short years. Whether White, Black or Brown, when assisted with affordable housing one needs to repay the debt by maintaining the upkeep and cleanliness of the living quarters.    

People need to spread out and enjoy the countryside and fresh air a bit more. Piling people on top of one another in large homely housing projects is depressing itself even before such facilities become deteoriated. Senator Gramm was wrong when he stated that Amercians whine too much about poor economic conditions. But there is something to say about getting back to the basic simple ways of life and ridding ourselves of many of the modern convienences and toys that are not necessary to survive and to be happy. A piece of land with a large garden, a nice log cabin with a fire place, a stream near by or up the road to fish in, and what else do folks need? Sure beats living in cramped quarters up several  flights of stairs with someone living right below you, above you and beside you, and with police sirens or stray bullets from the handguns of criminals blasting through your walls. It also beats living near those areas where every street and intersection is lined and crowded with a Wendys, McDonalds, Taco Bell, Pizza Hut, Kentucky Fried Chicken, Wal-Mart, K-Mart, Home Depot, Lowes, miles and miles of Used car Lots, etc. You know the kinds of areas I am speaking of.      

We need to think in terms of elbow room, fresh air, barn raising, mass transportation and personal accountability before any government sponsored housing program will ever have a chance to make a positive difference. And by the way, bring back the trains.

Don't worry folks...  It's all in your head.

There's no housing crisis..............that's just your imagination........I have 6.5% fixed rate.....not behind on mortgage payments.......had to right a hardship letter to my mortgage company before we get behind......Husband out of work for almost 2 years....

This will bring joy to the liberals. They hate capitalism.

First, I would like to thank Geroge Bush and the GOP for making this possible.  Without them none of this could have been possible.  

Second, I would like to say thank you to the many large corporations who for the last 8 years have continually sought to grow their earnings with very little regard for the American people and the impact it would eventually have.  

Third, can't forget the mortgage companies, I would like to take the time and say THANK YOU to the many thousands of fly-by-night Loan Brokers who took advantage of American families and their need to buy a home to raise a family.  Furthermore, I would also like to say thanks to the GOP and Phil Gramm for putting together the finanacial architecture that made it possible for so many families to now become homeless.  

Regards, A TRUE American.  

Hate to be involved in the blame-laying here, but John McCain has been smack-dab in the middle of the ongoing rape of the middle class American taxpayer (to the benefit of special interests) for the past dozen years and more.  

Exhibit A--The 1996 Telecom Deregulation Act (and Phil Gramm Personal Enrichment Act, along with dozens of other Republican legislators who 'retired' to feed at this trough).

Exhibit B-  Enron, and what allowed this to occur

Exhibit C-  Bankruptcy laws favoring financial companies

Exhibit D-  The outrageous tax policies McCain now support

And so on.  The government has outrageously failed in the past 7 years on the executive side, and since 1994 legislatively (Clinton's main accomplishment was to not let the R congress go too far.)

The 'change' Obama offers is not in how to win elections (that will always be 'the same'); it is in offering good judgment and good government free of claims of those specially interested (note the high-pitched whining of even the Clinton-ensconced special interests who now are no better off than anyone else.)

Think about the biography here and which candidate is the 'most authentic American'.  The guy who starts with nothing but hardworking family and who makes his way on his own from literally nowhere, passing up the easy riches and the easy life in order to 'walk the talk'?  Or the child of military privelege, admitted to the Naval Academy only to slack his way through, who as an "immature" 42 year old who has endured life as a POW ditches his wife for a 24 year old beer heiress (who he later dismisses as a c*** in front of others), who petulantly misbehaves when he does not get his own way, who sells his office for favors (Keating Five is a starting place)?  Well, I guess both are 'authentic American stories', but it should not be a tough call here.

Sorry for the 3-subject post.

ARRRGGGHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!
Just lost another 2 years retirement. At this rate I will be broke by election day. Nice going Republicans.If this keeps up,I will have to die BEFORE I retire !!  

Senator McCain has "stuck to prepared remarks" which is the swan song of his entire campaign.

America doesn't need to be "stuck" with him for the next four years.

Vote for Chanage: Vote Obama

Stop whining!  The Dow didn't really drop that low...it's the liberal media putting that stuff into our heads!

Thats nothing.... Watch what happens if obama somehow gets elected ! It will crash !

Obama and his klan love this news. It gives them something else to whine about.

Phil Gram:  Dont worry, be happy!  The DOW dropping is just a figment of your imagination.  Fannie Mae and Freddie Mac?  NAWWWW...they  aren't in trouble they're just whining!   There, there American voter, just go back to sleep until November and when you wake up...vote Republican!  Uncle joh n and Uncle Phil will making everything all right!~

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