The Dow keeps plummeting, (below 8,000 -- losing nearly half its value this year...) along with the global markets. It's a crisis that it seems no entity, no agency of government can stop. General Motors' stock fell below FIVE DOLLARS for the first time in 60 years. FIVE... Jesus... analysts are projecting that the big three U.S. auto makers cannot all survive. At least one will go away completely, or be absorbed by another company... President Bush is making noises about doing something, but honestly, events have overtaken him, and everybody else... World finance chefs are holding an emergency meeting. Good luck with that.
BTW one astute blogger posted a chart plotting McCain's poll numbers against the S&P 500.
 Fascinating. Clearly, this guy is going to need more than Bill Ayers to get back into the race. Or not:
As Pollster’s Steve Lombardo says, “The economic situation has virtually ended John McCain’s presidential aspirations and no amount of tactical maneuvering in the final 29 days is likely to change that equation.”
Meanwhile, Barack Obama slams McCain for "stoking anger and division" at a time like this ... Italy's Silvio Berlusconi walks back from his suggestion that world markets simply be closed.
Labels: Barack Obama, Dow Jones, economic crisis, George W. Bush, John McCain, the Bush recession, the McCain-Bush economy, Wall Street |
