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September 26, 2008

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I'm an Obama supporter, but objectively speaking I think both men gave a good account of themselves. But what struck me most about McCain was how old he looked and how tense. When he got excited I was afraid he would have a stroke. I really wonder whether with his age and temperament he can survive the strains of the presidency, even for one term. And the prospect of a President Palin is too scary to contemplate.

That was such an enjoyable evening. Senator Obama finally able to call John McCain on his on-going lies that make up McCain's ads. It was obvious that McCain was at a just-below-boiling point, grimacing and squinting. Probably the first time anyone has dared call McCain for what he is, as he is well known for his explosive temper. It was a shame that Senator Obama didn't have the time to talk about McCain's just-made promise to Rudy Giuliani. The promise was made just before the debate - McCain's promise that Giuliani would share in the profits to be made when the bail-out is finished. Poor McCain looked as though it were past his bedtime.

Buy the rumor, sell the news

If the rumor is a governmental spending plan that could keep stocks from falling,
and the news is the approval of a bank shareholder and debt investor bailout
where taxpayers borrow $700 billion from their children
to fund shareholder dividends and bond interest payments
which may have little actual immediate impact other than a few hundred Dow points
do credit markets unfreeze on the news?
Probably not

Does bailing out those who caused this mess make real estate prices bottom?
Probably not

Do lending standards loosen?
Probably not

And then after Tuesday, September auto sales, earnings warnings and forecasts,
and non-farm payrolls on Friday

In 1929, the market crashed on October 29

In 1987, the market crashed on October 19

In 2008, how may corporate earnings releases could it take,
whose sales are falling as borrowing costs rise,
and are obligated by law to state facts,
unlike the platitudes of the pundits and politicians
breaks the news Joe Six Pack?

What you are forgetting is that the same thing happened in 2000.

And the revisionists are out in force already:

http://online.wsj.com/article/SB122248689603881895.html?mod=djemEditorialPage

"Every Presidential race is a decision on Commander in Chief, and this election more than most. Americans will have to decide if they can trust Mr. Obama's assertions that he'd combine a desire for diplomacy with toughness when it counts. Our own sense is that Mr. Obama sometimes seemed flustered by Mr. McCain's attacks on his foreign policy "naivete," in particular on Iraq and his failure to support the "surge."

The Democrat tried to turn the Iraq debate back to the original decision to go to war in 2002, and that will play well with those who are decidedly antiwar. We doubt it will play with voters who want to make sure we don't squander the gains of the last year."

ken, quoting the wsj editorial page doesn't tell us anything comparable to 2000. the wsj editorial page is sui generis.

you never know how the post-debate spin is going to play out, but i do know that the wsj editorial page is not a leading indicator.

McCain was petty and talked over Obama in a rude fashion, going on and on trying to run out the clock. Obama was poised even though clearly irritated. Guess we'll see how Americans define "leadership": in recent years they have seemed to prefer bluster and bullies.

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