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Debate Is Over, Asian Markets Still Down

October 07, 2008 11:19 PM

Spinners are on TV saying whom they thought won.

Meanwhile, the updates from Asia’s markets, courtesy of the ABC News Business Unit...

Japan: Down 2.67% at the beginning of the debate; now down 4.54%
Australia: Down 4.06% at the beginning of the debate; now down 3.41%
New Zealand: Down 2.03% at the beginning of the debate; now down 1.78%
Korea: Down 2.72% at the beginning of the debate; now down 2.85%
China: Now down 2.52%
Hong Kong: Now down 4.71%

- jpt

October 7, 2008 | Permalink | Share | User Comments (68)

User Comments

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The markets are mirroring the polls. As Obama's numbers go up, the market numbers go down. This reflects the widespread knowledge of the markets that when small businesses are burdened with excessive social engineering taxes, the profitability vanishes and the layoffs begin.

Obama is a failure in the making.

Posted by: len | Oct 8, 2008 9:17:42 AM

Obama simply can not miss. I don't care
about being subjected to that incoherent rambling style that he has. Anyone who finds Obama's talk free of substance will declared racists from me for not appreciating the impact of his historic candidacy, the beauty of his mere presence on that stage.

Posted by: Typical Voter | Oct 8, 2008 9:16:43 AM

Is the inference that as Obama grows in the polls and creeps closer to the Presidency world wide markets fall?

Posted by: smith | Oct 8, 2008 9:12:59 AM

Obama's healthcare proposals are better than McCain’s because he is using Hillary Clinton's plan. So yeah Obama's plan is Hillary's and it is better because it was hers. He can't go wrong if he keeps using Hillary's stuff. I like that in him.

Posted by: Typical Voter | Oct 8, 2008 9:08:03 AM

CLabs, you wrote:
"If he has the guts he should
- ditch Palin and the NeoCons.
- get Colin Powell and Michael Bloomberg on board"

As a lifelong Conservative Republican, I can tell you that your suggestion is absolutely wrong. No Republican can win the White House without the full support of the base. While the overwhelming majority of Republicans were already going to vote for Sen. McCain, the base was not energized. And it was still questionable as to whether the base would have eventually turned around following the convention to set the Republican grassroots apparatus into motion. At least that was the case until Sen. McCain selected Gov. Palin as his running mate. Now the Republican Party base is energized and the Republican grassroots apparatus is in full swing. There should be a great Republican turnout in November.

Now as for Gen. Colin Powell, he took himself out of the running very early on. And Michael Bloomberg is pro-choice. So neither is an option.

Considering all of the intangibles (i.e., President Bush's low approval rating; the American people's views on the War; the economic crisis; etc.,) it is really surprising that Sen. Obama isn't much further ahead in the polls. While most of the polls have Sen. Obama up by 6-9 points nationally, there are still three polls that have the race just 2-3 points apart. So Sen. McCain's campaign is nowhere near a disaster.

Posted by: James Danley | Oct 8, 2008 9:03:13 AM

Obama still has the main characteristics that led me to support him. He didn’t drop dead during the debate, which means he still has a pulse. His **** didn’t drop off during the debate,which means it’s still attached. I don’t have any other real requirements, he can eat puppies onstage for all I care.

Posted by: Typical Voter | Oct 8, 2008 9:02:35 AM

Obama leads in states with 248 Electoral College votes while McCain is ahead in states with 163 Electoral College votes. When “leaners” are included, it’s Obama 300, McCain 174.

Posted by: Jeff | Oct 8, 2008 8:51:25 AM

Barack showed his ease and understanding of the plight of the American people and his dedication to the middle class and average Americans. He is geared toward them/us! He came across as serious about fixing our problems and bringing America up to 21st Century standards and getting rid of a lot of programs that just do not work anymore. He also showed his mindset toward dealing with other countries and how we are all in this together and we have to work together on a world scale to address our global and world problems.

McCain Camp cannot talk about the economy because their Economics are for the Rich, the well-off and the well connected!

Posted by: Angellight | Oct 8, 2008 8:32:08 AM

If Obama does what he proposes on foreign policy, he will lead us into more wars than JM.

Obama proposes sending in "a few troops" to the Sudan to assist others in ending the civil war and genocide they have going on. Sudan has always said it would consider such US involvement an act of war and would do everything possible to defend itself. Both Russia and China will come to the aid of the Sudan government.

This is a Vietnam scenario all over again. Too few troops and not the will to decisively intervene.

Obama's policy on Pakistan has been said by many would lead to a much wider civil war there as well with a high probability we could lose a government allied with us and end up with a radical regime with nukes and terrorists who hate us.

Obama's policies are dangerous and naive.

Posted by: Dave in lv | Oct 8, 2008 8:23:56 AM

It is amazing how Dems can call others as liars when the truth is being told.
for example:

"SOMALIA. McCain held up Somalia as an example of failed American foreign policy, saying “we ended up having to withdraw in humiliation.” McCain ignored the amendment he introduced in 1993 to cut off funding for troops in Somalia."

Is there anyone who doesn't believe we didn't leave in humiliation? Or that our policy was flawed and a failure?

Didn't Osama himself say this was an example of America being nothing more than a paper tiger and encouraged him to further attacks on the US?

Where is the lie in what was said?

Both in Lebanon and Somalia we put in too few troops to get the job done and we weren't willing to expend the resources necessary to back them up. JM was therefor against both operations and in both cases he was right.

Posted by: Dave in lv | Oct 8, 2008 8:11:20 AM

Josh Marshall: One thing that occurs to me after taking some time to mull the exchange is this: where were McCain's new fisticuffs? Bill Ayers, Obama as a liar, terrorist, all the sludge we've seen over the last 72 hours? Yes, he was aggressive on policy. But that's what debates are about. But McCain didn't take any of the shenanigans from the campaign trail into this debate. Almost like he was unwilling to say any of it to Obama's face. Or at least that he knew he couldn't get away with it in front of a non-party-line audience.

Posted by: embarracuda | Oct 8, 2008 8:06:49 AM

Fellow Americans, we need to lobby our Congress to pass a law that forces the SEC and the Treasury to "engineer" a plan that helps WAMU and Lehman to emerge from bankruptcy -- without cancelling previously issued shares. They should also "engineer" plans to pull all those banks taken over the FDIC out of receivership.

Posted by: Where's Our Money? | Oct 8, 2008 7:41:22 AM

Watching the debates... with all the promises and propositions made by both, we that pay taxes, work for our livings, are absolutely and totally screwed.

Posted by: david | Oct 8, 2008 7:39:19 AM

I got a grandpa who turned 80 two months ago, and who doesn't look and sound nearly as old as McCain did in last night's debate.

This stiff, angry and bitter old man should be America's FUTURE?

Come on.

Posted by: Barton | Oct 8, 2008 7:32:16 AM

We're starting to see a trend -

McCain loses EVERYTHING.

Posted by: herta | Oct 8, 2008 7:29:00 AM

re Post by: Common Sense | Oct 8, 2008 6:00:51 AM

Did you know it would be very hard for Paulson to be the right wing bigot you describe since he is a Dem and also gives regular briefings and receives input from Obama?

But I do agree with you he is one Dem that should be thrown in jail for failure to do his job.

Posted by: Dave in lv | Oct 8, 2008 6:23:20 AM

We agree Fannie and Freddie were the major source of the problem.

Note these companies were and are among the MOST heavily regulated companies in the country with regular hearings on operations held by both the House and the Senate.

Barney Frank, Dem, leader of the House committee has a lover at Fannie for many years and blocked virtually every reform he could that would limit their risk.

Chris Dodd, Dem, leader of the Senate committee regularly takes money as "contributions" from Fannie, Freddie and gets below market loans from Countrywide. He considered these as normal "perks" of the job for those he regulates. Dodd also did everything possible to block any reforms to limit risk.

Obama was the second largest recipient of "contributions" from Fannie and Freddie. He failed to even suggest any reforms were necessary other than a message sent to the Treasury saying we may have a sub-prime problem but gave no proposed solutions.

We didn't have a failure of regulations. We had a failure of Dems to do the job they volunteered and fought for.

As of today Fannie and Freddie are STILL buying loans with 3% down!!!!

Posted by: Dave in lv | Oct 8, 2008 6:17:07 AM

I can't say whether Bernanke is doing a good job or not, but I can say that lowering the interest rates did not have the intended effect for most people seeking credit. The banking system is crooked to the core and that's why there were laws put in place. Unfortunately, the laws weren't enforced by Cox and Paulson played Cheney-style politics and cronism to the maximum.

Fannie and Freddie became a self-fulfilling prophecy of these right-wing bigots that spewed bias against minority home ownership (which has performed well). Paulson's and his former employer, Goldman Sachs, were the leaders of this band of thieves. That's the real reason Paulson let Lehman fail.

Fuld asked the obvious question. Why was Lehman the ONLY one allowed to fail? This is what caused the systemic turmoil in the markets both here in the U.S. and around the globe. Fannie and Freddie asked more obvious questions: Why are you taking me over when I don't want or need your help?

The U.K. is blaming Paulson and Cox. Eventually, us Americans will hold these republican criminals accountable instead of looking for scapegoats based on color. There was a time when your investments and retirement accounts only knew the color green! Paulson and Cox made those accounts red by their inactions and inappropriate actions -- all based on partisanship and cronism.

Paulson and Cox need to be put in jail. The bailout money should be given directly to the tax-paying shareholders Paulson and Cox stole from to try trickling up for a change. That is about $5,000 for each of us (pennies compared to most of our losses this year)!

Posted by: Common Sense | Oct 8, 2008 6:00:51 AM

Funny enough, like last time CNN said that Obama came victorious of the Debate...but in fact he even lost 1 point in the last Reuters poll and he still far below 50%...


Obama has slim 2-point lead on McCain
47 percent to 45


Posted by: Hero | Oct 8, 2008 5:19:59 AM

Common Sense

Obama is the right choice in a poll in Australian newspaper "The sydney morning herald 86% of Australia want Barack Obama!

Kiwi's also want Barack Obama !

Posted by: Aussie | Oct 8, 2008 4:58:45 AM

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