The last week has been a big one for catastrophists, with the market meltdown decimating Wall Street and Hurricane Ike sweeping through flyover country. The campaigns, however, seem to have backed off.
McCain’s nomination of Sarah Palin electrified bored Republicans and fired up the Democrats, but the energy seems spent now. It seems both campaigns are sitting back and gathering their strength for a real war of words to come as the debates approach.
And that war is coming, make no mistake! Both the Democrats and Republicans are partially responsible for the mess in the stock market. McCain buddy, Phil Gramm’s legislation is being prominently fingered as a cause; Democrats are chairmen of the Budget, Financial Services, and Ways and Means committees. It’s a bipartisan mess.
Hurricane Ike damaged crucial refineries, and gas skyrocketed as much as 90 cents a gallon in some towns overnight. The candidates are going to have to get more specific on their energy plans, and with Alaska Governor Palin supporting drilling in ANWAR and Obama’s resistance to any expansion of domestic oil exploration, it’s going to get hot.
The three major issues are going to be the financial markets, energy, experience, and moral issues, such as abortion and gay marriage. Obama has made a few missteps here, unwittingly drawing attention to his weak spots. First, he insinuated that Palin wasn’t experienced enough to be Vice President, even though he, himself, has less than 200 days experience as a Senator. Next, he responded to a new 527’s ads, BornAliveTruth.org, with obfuscation and misdirection causing an outcry in New Media.
McCain has stumbled as well, seeming too hawkish over the situation in Georgia while the nation is weary of war. His association with Sen. Phil Gramm will come back to haunt him in the next two months.
Things are quiet now, but just wait and they’ll get exciting again!
