The statistic came on Hardball last night that, in the past couple of days since the economy shit has hit the fan, Obama has taken a big bounce in the polls. Not coincidentally, "the economy" has become the most important issue to these people who were polled.
Umm... what was the most important issue for these people in their decision process before the media starting reporting that we could potentially be facing a huge recession / depression? If it was Iraq or something substantial... fine... but in many polls, some people were saying that they were leaning McCain because of things like he possesses "leadership qualities" or that he's more experienced, or his "character". These things don't seem to *mean* anything, do they?
Anyway, LJT outlined the situation better than I ever could, and cleared some things up for me. As the housing boom collapsed a couple of years ago, and leading up to where we were today, I couldn't shake the feeling that this problem was truly, at its heart, caused by individual people and companies overspeculating and overspending. LJT compared it to a big game of Jenga... is another analogy a house of cards that continues to be built on a flimsy foundation until one day it inevitably collapses? Anyway, regardless of how this shakes out, I hope (though am not optimistic) that Americans will learn their lesson as LJT mentioned. If companies and people only spent what they truly could afford, wouldn't there truly be little economic issue?
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