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“It’s the economy, stupid!” (Recalling Clintonian Yell) September 16, 2008

Posted by vsap in 2008 Presidential Election, Blogroll, Uncategorized, US Politics.
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I’m one of the fortunate ones, I guess. I don’t have the kind of money that is ravaged by the malfeasance of investment bankers. The company I work for is privately held so it might feel a bump, but otherwise, the hiring has been frozen and the travel budgets slashed months ago, so I feel nothing. Some of my clients that are leveraged or heavily invested in the Wall Street menagerie will likely feel something, some soon, some later, but most will weather it just fine. So, John McCain is right, as far as I can tell, the fundamentals of the economy are sound. What’s wrong on Wall Street may trickle down to Main Street in some sectors or regions, but the rest of us will be little more than uncomfortable, and that only when we talk to friends who are impacted by it.

The good news is that Barack Obama and Joe Biden can only throw liberal bromides at the situation. “The big bad companies gone wild” approach to dismantling all that is good with capitalism to punish a minority of abusers. Obama is now beginning to hope he can claim the ground Bill Clinton did to help win in 1992: “It’s the economy, stupid!” By the way, Clinton and Obama both direct that “stupid” at you and me…the great unwashed in the hinterlands outside the original 13 colonies. They know better than we do, just get over it, is the message.

Clinton was fortunate to have Ross Perot steal the conservatives from George HW Bush in 1992. Otherwise, HW would have gotten his second term. McCain pre-empted that situation with Sarah Palin. Obama has no cover since he is wedded to another like-minded liberal and, holy cow, a senator! So far, so good with Palin.

The bottom line is reforming the economic mess on Wall Street and ceasing bailing out private business with taxpayer funds (e.g, GM, Freddie, Fannie) is not a task for beginners. For whatever John McCain and Sarah Palin are, they aren’t beginners. I give them a 75% chance to address this situation forcefully and effectively, if elected. Obama wouldn’t get out of the gate on this, or most other issues, in four years.

If it’s the economy, then you’d be stupid to elect Obama. And Bill knows it, too.

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