U.S. Sen. Obama's Stock Rises as The Economy Slides

Submitted by Maggie Barker Taylor on 10/3/08

A tough day on the job front. The U.S. Department of Labor reported today that the U.S. economy shed 159,000 jobs in September, the biggest monthly decline since 2003. Earlier estimates had job losses closer to 100,000. These numbers don’t reflect fallout from the most recent financial crisis, since the survey was conducted the week of September 8. Is it any solace that the unemployment held steady at about 6 percent? David Leonhardt of the New York Times has a good analysis of the report.

On the campaign trail today in Pennsylvania, U.S. Sen. Barack Obama spoke of the job losses, while getting in some digs at VP candidate, Gov. Sarah Palin:

You know, there were a lot of noteworthy moments in that debate, but there’s one that sticks out this morning. It’s when Governor Palin said to Joe Biden that our plan to get our economy out of the ditch was somehow a job killing plan.

I wonder if she turned on the news this morning.

Because it was just reported that America has experienced its ninth straight month of job loss. Just since January, we’ve lost more than 750,000 jobs across America, 7,000 in Pennsylvania alone. This is the economy that John McCain said – just two weeks ago – was fundamentally strong. This is the economy that my opponent said made great progress under the policies of George W. Bush. And those are the economic policies that he proposes to continue for another four years.

So when Senator McCain and his running mate talk about job killing, that’s something they know a thing or two about. Because the policies they’re supporting are killing jobs every single day.

As the economy worsens, Obama’s prospects brighten, as politics go. Yesterday’s new Pew survey indicates that in just the past couple of weeks, the number of voters who view Obama more favorably than McCain on the economy and financial crisis has grown. The bad news on the economy has helped to expose McCain’s empty plans to create jobs and restore prosperity, and allowed Obama to flesh out his economic plans and demonstrate his dexterity on the issues. His ads in which he talks directly to the camera about his economic program, feel authentic and reveal an organized, focused mind in the midst of chaos on Wall Street and Capitol Hill.

Maggie Barker Taylor's blog
Login or register to post comments

Comments

If you avoid payday loans

Submitted by Nehemiah_S on 1/20/09.

If you avoid payday loans and end up getting bounced check fees that end up costing you more than what you have, it is called paradoxonomics. Paradoxonomics are when good situations have bad results. Deflation is a similar thing – deflation within an economy is when the values of goods declines and the value of currency goes up. However, there's a big downside: with deflation comes higher unemployment, as employers are forced to let go of employees in order to cut down on operating costs because revenues have fallen. There is good news, however, and that is that the chances of the recession leading to deflation are minimal. But the Feds say things will get worse before they get better, so in the meantime, payday loans can help if you have a financial emergency.

Presidential Debate; It’s my proposal not yours!

Submitted by PaydayLoanAdvocate (not verified) on 10/13/08.

On Tuesday, October 7th, In
Nashville, Tennessee, the second presidential debate was held. At this Town
Hall debate, economy was the most discussed topic. "The last president to
raise taxes during tough times was Herbert Hoover," said John McCain,
linking Barack Obama to the Depression-era president. Indeed, Mr. Obama said,
"we are in the worst financial crisis since the Great Depression,"
but he blamed the "failed economic policies of the last eight years"
that President Bush authored and Mr. McCain supported. Economy is definitely
what us Americans want addressed, considering stock markets are staggering,
this credit crisis has spread globally and of course, retirees have lost $2
trillion.

Voters at Tuesday’s debate at
Belmont University were asking question after question about the $700 billion
Wall Street bailout. People were very upset and even scared it would not work,
they sought reassurance and a solution. McCain announced that as president he
would immediately order the treasury secretary to start buying mortgages from
owners of homes that are now worth less than they owe, avoiding foreclosures at
all costs to stabilize neighborhoods. The plan would cost $300 billion – out of
the $700 billion approved last week by Congress – and could add to the national
debt, his aides said.

"It's my proposal, it's not
Senator Obama's proposal, it's not President Bush's proposal," Mr. McCain
said. Obama made no effort to rebut his statement. But after the debate, his
aides pointed out that Congress already gave the Treasury the authority Mr.
McCain says he would invoke, and they noted that Mr. Obama voiced support two
weeks ago for direct mortgage purchases. So if it is McCain’s new proposal, why
have steps been taken to buy back mortgages before he even proposed it at the
debate claiming he is the only one with this idea?

Post Courtesy of Personal Money
Store

Professional Blogging Team

Feed Back: 1-866-641-3406

Home: http://personalmoneystore.com/NoFaxPaydayLoans.html

Blog: http://personalmoneystore.com/moneyblog/