The economy is quickly becoming one of the single most important issues for this election. There's the recent financial nightmares involving Lehman Brothers, Freddi Mac, Fannie May and several other formerly high powered financial companies just about caved in.
You could see on the news as execs were heading out loaded down with boxes of personal stuff because they who were on top of it all, suddenly find themselves without jobs and no hope of spending the winter in their Mykonos villa rentals. When some of them were interviewed they talked about not having seen this mess coming.
I am not a hamster, you can't tell me this wasn't there to see. The mortgage thing has been in the news for the better part of a year now. Next you add the record rise in oil prices and you have gas prices going to obscene heights. Then the government is encouraging the nonsense idea of using food grains to make fuel when they should be working on ways to go the other direction!
Now with food grains being used to make ethanol, not only is there less food grains to make food with (thus driving food prices up), the ethanol / gasoline mixtures end up selling for a higher price per gallon and doesn't get as good a gas mileage as straight gasoline. This means that we pay more per gallon to buy more fuel to go the same distance we've been going. Somehow that strikes me as backwards.
Then there's the bailout plan. Everybody fights and takes their time while Joe and Jane average hope and pray they don't lose their house and everything they own of value over this crap. Then it comes time for the vote and BOTH sides renege on the bargain so that the plain falls flat. Next thing you know the stock market drops farther than it ever has before.
What I don't get is why these idjits keep saying that "we might have a recession"? Looks to me more like we're on the way to a full blown depression.