http://www.realclearmarkets.com/printpage/url=http://www.realclearmarkets.com/articles/2020/09/a_crisis_resists_the_usual_rem.html
With the economy at the front burner, the candidates are going to have to present their position. The disasters that have ravaged the economy have thrown politicians a curve ball. Uncertainty surrounds what should and should not be done. America is divided on the topic of the government intervention. Obama and McCain are going to have to speak clearly and precisely on how they intend on fixing the market. Is the market fixable by the government? Do Obama and/or McCain have the required experience in the economy to fix it?
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I am in complete agreement that the economic crisis is at the forefront of all issues currently in American politics. How each presidential candidate is able to approach this already fragile topic could win or lose them the election. However, there seems to be no clear strategy or approach in solving this issue, which is concerns me greatly. On top of that, neither McCain nor Obama have any great experience regarding economic and financial related issues. Although I am not in usual support of significant government intervention, our current market conditions seem to be at the point where in order to return to economic stability, the federal government needs to purchase assets from the financial sector. A $700 billon bailout could be a little extreme, as it would significantly impact United States tax payers, however, the government needs to intervene on some level to relieve this current economic burden. The unraveling of Wall Street will continue to greatly affect Main Street until some strategy or solution is imposed.
The questions Daniel have asked here are vital to the success of either candidate and their bid to the president's office . After all, the public's own opinion of the answer to this question will most likely determine who takes the oath of office this January. The economic crisis has certainly thrown a curveball to both candidates and it makes one wonder whether their campaign strategies will change? It seems the overall public consensus is they want the candidate with the most experience in this situation. This makes me wonder whether supporters of either candidates will switch aliances and parties as they are not secure in their present candidates' economic credentials and experience. It appears as though both candidates will sign the bailout bill, but where will they go from here? It will certainly be interesting to see.
Without a doubt, the economy has jumped to the number one issue of politics. Unfortunately, I don't think either candidate will have a good enough solution to determine the election. Time might be the best solution for the market. I feel like Obama and McCain are in the same boat as far as having little experience with the economic and financial issues. It should be interesting to see how the market does with time and how each candidate continues to handle the issue.
Not only is the economy the number one issue concerning American voters this election, it also requires immediate action by each candidate. For these reasons, it could very well be the deciding factor in the election. Voters are paying close attention to each candidate's proposals for the economy. So far, (according to polls) most Americans believe that Obama will handle the economic crisis better. I think this can be explained by the fact that McCain had flip-flopped on some of his economic plans, being unclear on how much government regulation he thinks is good for the economy. However, I have seen no plan of action from either candidate that is significantly better than the other. Both candidates can certainly stand to gain a lot from devoting time to the economic crisis, as both have an opportunity to gain the votes of those people that are on the edge.
With the Dow dropping below 10000 for the first time in four years, it's impossible for the candidates to ignore the issue. This issue will obviously still be present when the next president takes office, and will most certainly require immediate action. The only problem is is that there is no clear course of action. Neither candidates are economists, so it's a bit of a stretch to expect them to have any effective course of action drawn up. At the very least, however, we should be watching them for how they approach an issue that no one fully understands, and how they are able to demonstrate leadership capabilities.
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