Obama Won the Debate - The Economy is Still a Loser

Sorry, we didn't have time to watch the debate in full. But we did catch the part where John McCain quoted Teddy Roosevelt as saying "Speak softly, but carry a big stick." It was definitely the "Gotcha" moment, and expertly played by Mr. Obama. We grinned with wicked glee as Obama stuck the dagger in and watched Mr. McCain squirm like an insect stuck on a red hot needle. It was a great moment. Obama did show McCain to be a chump.

What troubled us (besides our senior editor appearing to be mentally ill - or a mildly retarded stroke-victim), was the $ 53 Trillion While Elephant standing squarely at the front of the audience (see yesterday's post for a link to the commentary on this debt). Whoever the next POTUS will be (we're predicting Obama) will inherit a creaking, card house of financial debt that looks to be about 5000 times bigger than the financial crisis that is Zimbabwe. Obama may have won the debate - but the economy, the global economy, is still a loser. When it collapses, we're predicting worldwide famine and drought. And the war starts. McCain might be the best to be a war president, that just might be one of his greatest talents. But, Obama will still win. Will he be presiding over a financial apocalypse? Can any one person handle it? No.

We know that you're probably thinking, "Ridiculous. You sound like Chicken Little." Perhaps, but we just want to get our questions down before everything goes black. Or, should we say Red - as in Red China. Will we be borrowing funds from Russia and China? Or, will the nations go to war over funds, food and water? Is world Communism coming - to a future near you?

Central banks slash interest rates

http://news.bbc.co.uk/2/hi/business/7658958.stm

IMF: U.S. set to go into deep recession

http://www.msnbc.msn.com/id/27083134/

Retirement account losses near $2 trillion

http://www.msnbc.msn.com/id/27073061/

Newsweek: Poor are not to blame for mess

http://www.newsweek.com/id/162789

How to recession-proof your family

http://www.cnn.com/2008/LIVING/wayoflife/10/08/o.recession.proof.family/index.html

CNNMoney: What this economy means for you

http://money.cnn.com/2008/10/08/pf/money_crisis.moneymag/index.htm?postversion=2008100808

IMF: World economy to slow sharply, led by US

http://news.yahoo.com/s/ap/20081008/ap_on_bi_ge/world_economic_outlook;_ylt=AmsQH9.aOiD_ARRo0G4_sV4DW7oF

Facing Foreclosure? Here's What to Do

http://abcnews.go.com/Business/PersonalFinance/story?id=5894527&page=1

India leads S Asia market falls

http://news.bbc.co.uk/2/hi/south_asia/7658899.stm

N Korea 'building atomic warhead'

http://news.bbc.co.uk/2/hi/asia-pacific/7658986.stm

Debate verdict

http://news.bbc.co.uk/2/hi/americas/7658313.stm

Debate fails to give McCain a game-changer

http://firstread.msnbc.msn.com/archive/2008/10/08/1511667.aspx

Analysis: No new ideas for new contagion

http://www.msnbc.msn.com/id/27078786/

US: 2 American journalists missing in Lebanon

http://news.yahoo.com/s/ap/20081008/ap_on_re_mi_ea/ml_lebanon_missing_americans;_ylt=Aq1qeF51F46UCR7IJ_SKaLqs0NUE

Federal judge grants delay in Rezko sentencing

http://news.yahoo.com/s/ap/20081008/ap_on_re_us/fundraiser_trial;_ylt=AirBc9saY.Rl8fJXLmatQ9es0NUE

Man indicted in hacking of Palin's e-mail

http://www.msnbc.msn.com/id/27083761/

China sets melamine levels for milk products

http://news.yahoo.com/s/ap/20081008/ap_on_re_as/as_china_tainted_milk;_ylt=AplNPQFqQ7Ro2MAr4EqRcj2s0NUE

Taiwan suggests SARS a China warfare plot

http://news.yahoo.com/s/nm/20081007/od_uk_nm/oukoe_uk_taiwan_china_sars;_ylt=ApGP5viiSwYfaowGfJjnDiXtiBIF

Severe acute respiratory syndrome

http://en.wikipedia.org/wiki/SARS

Feds to use chips to foil cactus thieves

http://www.cnn.com/2008/US/10/08/cactus.thefts.arizona.ap/index.html

H-bombshell - French FM says Israel might "eat" Iran

http://news.bbc.co.uk/2/hi/middle_east/7658728.stm

Bernard Kouchner

http://en.wikipedia.org/wiki/Bernard_Kouchner

Rescue plan for UK banks unveiled

http://news.bbc.co.uk/2/hi/business/7658277.stm

Waxman bashes AIG’s luxury spending

http://news.yahoo.com/s/politico/14372;_ylt=AjFkbgptR1xORmlG1fodJm4DW7oF

US budget deficit soars to 438 bln dlrs: congressional agency

http://news.yahoo.com/s/afp/useconomybudgetdeficitcongress;_ylt=AoX5asiEMurZag3u5EYuin8DW7oF