The US Economy is Crumbling!

McCain vs. Obama

The two biggest mortgage companies in US have been rescued by the US Federal government in a hope of saving billions of dollars from a foreseeable bankruptcy. Investors were thrilled but only for a few days before another huge company filed for corruption. The US Federal government, again, offered another so-called "rescue package" to one of the largest company the AIG that was on the brink of filing for Chapter 11 bankruptcy, collapse so would hurt the world. It could have a tremendous effect on global market and economy. AIG has about 200 officers worldwide.

Even now, the two presidential candidates, Sen. Barrack Obama and Sen. John McCain, have yet to offer the country and the world, substantive solutions to this economic downfall. It seems as if both parties are looking at the troubled economy to score political points and elevate their political war of words.

Democrats strength (people suffer)

The Democratic party is known for scoring points when the economy is in bad shape. A weak, troubling economy is good news to the Dems because it shows serious economic weakness in the conservative government (Republicans). The string of economic woes experienced in US in the passed year had been the talking points of the Democratic camp. This is a strategy that could backfire on the Dems because both the Senate and the House of Congress are dominated by the Democratic party who have been, for the past months, blocked every effort by the Bush government to implement government plans. Last two months the Republicans called closing of the House and the Dems vacation a "slap in the face" of the US people. There was no debate or resolution reach to ease the tremendous hike in Gas price in Summer. Republicans argue that the Dems are benefiting from people's suffering.
As predicted, the Democratic camp had a slight lead, in a few days, of 45% over the Republican nominee by only a single point, 44%. Technically, this is a virtual tie as the difference in the polls falls in the margin of error, but it singles a shift of momentum toward the Dems camp which more likely to pick up speed if the economy keeps falling.

Republic Strength (War/Security)

Everytime an attack on US or its allies ocurred, the Republican leadership gets two thumpsup. Take for instance the attack on 9/11. George W. Bush who became the president for a little over a year, rallied tremendous support for the invasion of Afghanistan. A sense of being unfairly attacked brought all parties together. Sen. John McCain also gained a lot of support when US ally and strong advocate of democracy in Pakistan, Mrs. Bhutto, was assassinated. Many people looked at him as the one that has the credentials to protect the US from extremists.
Sen. McCain also was commended for his strong words against Russian invasion, which asserted his knowledge and strength in international diplomacy. The Russian invasion bumped up support for Sen. McCain.

Choice of a Right-hand Man/Woman
These two candidates have made some significant choices for their running-mates. Sen. Obama picked Sen. Joe Biden who was said in the primary campaign that Sen. Obama wasn't ready to be a president or rather he wouldn't want the job of the president to be used for internship opportunities, implying Sen. Obama's inexperience in the Federal level. Sen. McCain on the other hand had been using the "maverick and straight talk" compaign as a huge contrast to his opponent. He has the history and the scars to prove this; a war hero, a prisoner of war in Vietnam, and a veteran politician. But then he gambled took the risk of picking a woman who was a mayor, and a governor for two years. He picked the governor of Alaska, Gov. Sarah Palin who has little experience in international diplomacy. Despite the hype and all the excitements about Gov. Palin, she still need face the American people.
So far, her appearances have been extremely positive and welcomed by the Conservative circle. She made her case as to why she is second in the command for the nation. She first sat down with ABC and then foxnews. But the nation will have to decide after the upcoming debate which she will take on Sen. Obama's running mate, Sen. Biden.
Sen. Biden, what the latest? Well, to begin with, Sen. Biden run a terrible campaign. He was probably the least likeable in the Democratic primary, despite the fact that he has more foreign policy experience as did Sen. Ewards and the rest. He is known for talking before thinking, as demonstrated in the past few days. He told a crowd of supporters that "Sen. Clinton (Hillary)" should have been the vice presidential pick instead of him, something that left the Dems bad impression. He also stated two days ago, in a political confession, that they (Obama/Biden) will take money out of people and give it to the poor. This socialist approach is something that Sen. Obama always denied and attempted to explain in many occassions in ways that would make it sound fair to both the rich and the Middel Class. Such straight talking will certainly drive the Dems out.
But the question one should ask is that why are major companies going down the drain on the eve of election? I will talk about it in my next post...

To be corrected and continued....