I hate being the harbinger of doom, but there is another crisis about to hit the stage, just when you were becoming adjusted to the ups and downs of Wall Street. We’re about to be hit by the Credit Card Crunch, which has been quietly hiding behind the recent headlines. Not everyone was unaware of this, as it was about to take center stage when Wall Street crashed. It’s been riding on the back of Wall Street and is now going to become a major player.
With only three weeks left in the campaign, there are few, but a small number of independents who know who they are going to vote for. The pundits and the polls all favor Barack Obama, heading into the homestretch, but the race may be much closer than that. Both candidates, Sen. John McCain and Sen. Barack Obama are both honorable men.
The scenario…..a Boeing 747 flies at 30,000 feet when suddenly…..a puff of white smoke and everyone is left on the plane but their wallets are gone to Heaven! Are we seeing the End Of Days? Has The Rapture begun? That’s what seems to have happened not only on Wall Street but all over the world.
By a vote of 228 to 205, the House of Representatives demonstrated their lack of courage in the face of Public Opinion. As each member of the House received emails, letters and telephone calls in a ratio of 100 to 1 against this measure, the big losers in this game of chess is Main Street. Wall Street dropped nearly 778 points, while the NASDAQ fell nearly 200 points.
Secretary of the Treasury Henry Paulson and FED Chairman Ben Bernanke advised both the Congress and the nation on September 17th that an immediate Wall Street bailout is needed to avoid Wall Street from falling into a Black Hole and taking the Economy down with it!
Nearly everyone has an opinion of Gov. Sarah Palin as the Republican Vice Presidential nominee, and their expressing it on the Internet, talk radio, television, newspapers and jokes. Very little has been said of Sen. John McCain’s wisdom as a Presidential candidate, who if elected, will be 72 years old when sworn in next January.
The Republican Convention appears to have been a success as the McCain-Palin ticket has united the Republican Party, and is prepared to go head to head with the Democratic ticket of Barack Obama and Joe Biden. Does trouble lie ahead for the Republican ticket?
There can be no doubt after Thursday’s night's speech that Barack Obama is more than ready to take on the Republicans. The question of whether he’s tough enough was finally answered before more than 80 thousand people in Mile High Stadium!