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Deride and Conquer

The Defining Moment

This was the moment when the McCain-Palin shtick of referring to themselves as "hockey moms" (well, not McCain, but I have no doubt he'd use it if the focus groups showed it beneficial) and "mavericks" was revealed to be just that -- a shtick.

If you find you have to consistently apply an adjective to yourself in a self-referential way, chances are good that the adjective isn't entirely accurate.

Show, don't tell. Every writer knows that the effect of following that rule is greater emotive power.


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Bailout Fails

228-205.

Thank God for the US Congress -- and I mean that absolutely without any snark.

Paulson should resign.

Telling It Like It Is


Palin Says Kissinger is Wrong on Iran

John McCain Would Rather You Lose Your Job Than He Lose an Election

Injecting presidential campaign showmanship into the crisis isn't leadership.

The bailout is a bad idea. But a man willing to play chicken with the American economy because his campaign is cratering doesn't have the judgment to be president.

Shorter Bush

The bankers are panicked. You must fork over $700 billion to calm them down.

Question: If there is a crisis of liquidity, and not solvency, why is the Fed rate still at 2%? Why has the Fed reduced in-flows into the banking system since last Wednesday?

If I Was a Progressive Organization that Opposed the Bailout....

... and I had a big SMS list, I'd send out a text at 9 pm tonight with two words:

"He's lying."

And ask people to forward it on.

Because you know he will be.

Time to Resist the Shock Doctrine

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Naomi Klein:

The best summary of how the right plans to use the economic crisis to push through their policy wish list comes from Former Republican House Speaker Newt Gingrich. On Sunday, Gingrich laid out 18 policy prescriptions for Congress to take in order to "return to a Reagan-Thatcher policy of economic growth through fundamental reforms." In the midst of this economic crisis, he is actually demanding the repeal of the Sarbanes-Oxley Act, which would lead to further deregulation of the financial industry. Gingrich is also calling for reforming the education system to allow "competition" (a.k.a. vouchers), strengthening border enforcement, cutting corporate taxes and his signature move: allowing offshore drilling.

It would be a grave mistake to underestimate the right's ability to use this crisis -- created by deregulation and privatization -- to demand more of the same. Don't forget that Newt Gingrich's 527 organization, American Solutions for Winning the Future, is still riding the wave of success from its offshore drilling campaign, "Drill Here, Drill Now!" Just four months ago, offshore drilling was not even on the political radar and now the U.S. House of Representatives has passed supportive legislation. Gingrich is holding an event this Saturday, September 27 that will be broadcast on satellite television to shore up public support for these controversial policies.

What Gingrich's wish list tells us is that the dumping of private debt into the public coffers is only stage one of the current shock. The second comes when the debt crisis currently being created by this bailout becomes the excuse to privatize social security, lower corporate taxes and cut spending on the poor. A President McCain would embrace these policies willingly. A President Obama would come under huge pressure from the think tanks and the corporate media to abandon his campaign promises and embrace austerity and "free-market stimulus."