As some observers have noted after the two conventions, there were lots of distractions, lots of words, but not much in the way of substance.
Especially regarding this nation’s number one concern.
Iraq, you ask?
That’s so 2007.
No, it’s the economy — rather, the very dangerous state of the economy.
Our Republican friends, plutocrats, or plutocrat wannabe’s, don’t believe we have a problem. McCain is and has always been insulated from the real world by, first, years as a Naval officer, where the pay might not be royal but subsidized expenses are low; then years as a prisoner of war, where the cost of living takes on an entirely ugly but non-financial meaning; then many more years as a Senator, married to wealth, a combination as isolated from the real world as it gets. He relies on his good buddy and close advisor on topics economic, former colleague Phil Gramm of Texas, who believes we’re all whiners.
The Democrats talked a spectacularly good ball game, but had little substantive to offer us.
Even so, based on their track record, one has to believe that the Democrats are more likely to get it than the Republicans, who have spent the last eight years aiding and abetting the liars and thieves on Wall Street and beyond.
Meanwhile, the news, and its import, is grim and becoming even more so.
The Power of De
Op-Ed Columnist | By PAUL KRUGMAN | Published: September 7, 2008
Save the home lenders, save the world? If only it were that simple.
The just-announced federal takeover of Fannie Mae and Freddie Mac, the giant mortgage lenders, was certainly the right thing to do — and it was done fairly well, too. The plan will sustain institutions that play a crucial role in the economy, while holding down taxpayer costs by more or less cleaning out the stockholders.