The stock market rebounded by half of it’s losses today based on the President’s talk about helping Wall Street gain stability, and the possible rumor of a government run trust coporation. Both candidates are openly talking about new, stronger regulation. It’s hard to re-assure people of this country, when some of them are living out of tents. Hell, it’s hard to re-assure people of OTHER countries. When well-trusted companies like Washington Mutual are talking about selling out to other companies because of “bad credit” investments, and with the word “recession” flying around, Average Joe is more than a little skeptical.
The 5 point poll lead McCain had after introducing Palin to his ticket has evaporated, and the momentum is back in Obama’s court. Part of the problem is that he turned on the head of the SEC – whom he’s actually supported in the past – and people are unsatisfied with his economic answers. Another point of contention that the media is now beating him over the head with is his recent release of bigger “Obama = taxes” ads, mostly because the media can effectively debunk most of the rhetoric in those ads. Nothing’s more hurtful than the media-driven voter who is bombarded 24/7 by “McCain lies” type articles/newscasts.
Gates was on TV, saying he’s now reviewing new strategies for Afghanistan that the Pentagon said they were reviewing two to three months ago. I know the SecDef isn’t FEMA, but this kind of slow, faltering response does not reflect well on the Administration with the present situation brewing over there.
Nebraska News
The Economist has a nice piece on Warren Buffett – one of Omaha’s most beloved businessmen. I actually own stock in Berkshire Hathaway, but it’s nothing huge like the A stock (which is remarkably worth a ton of money). I met him once, and I always enjoy reading news about him. Enjoy.
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