It’s The Economy, Stupid.

Two wildly different responses to the the sea of red the financials & Wall Street are currently bathing in:

McCain’s response: “You know that there’s been tremendous turmoil in our financial markets and Wall Street. And it is, it’s – people are frightened by these events. Our economy, I think, still, the fundamentals of our economy are strong but these are very, very difficult times. And I promise you, we will never put America in this position again. We will clean up Wall Street. We will reform government.”

Obama’s response:“The challenges facing our financial system today are more evidence that too many folks in Washington and on Wall Street weren’t minding the store. Eight years of policies that have shredded consumer protections, loosened oversight and regulation, and encouraged outsized bonuses to CEOs while ignoring middle-class Americans have brought us to the most serious financial crisis since the Great Depression.”

I tend to be apathetic when it comes to participating in political commentary, but I believe this economic unraveling is far too important of an issue for there still to be misconceptions about Obama’s economic policies. So, since the Dow is down 500+ points for the greatest drop since 9/11, I figured this was a good time to post two articles some fellow U of C economists referred me to:

http://www.tnr.com/politics/story.html?id=4d40a39e-8f57-4054-bd99-94bc9d19be1a

http://www.nytimes.com/2008/08/24/magazine/24Obamanomics-t.html?pagewanted=1&hp

Everyone who knows anyone who is planning on voting for McCain or gotten starstruck by Palin should really and truly forward these onto them. If everyone read these articles, there would be no question as to who would be the next President.

Holla U of C Economics

My ex-roommate has been reading this book about the University of Chicago economic theory and telling me that the school’s impact on economic policy is ‘evil.’ We hadn’t started going into that firepit of debate yet, I think I’ll fire off the opening salvo by shamelessly using Matt’s post on this NYTimes article about Obama’s economic agenda and how he could be categorized as a “University of Chicago Democrat.”