Bear markets often end with a dramatic intra-day reversal like yesterday’s. But something tells me this one still has a way to run.
WHAT IS TO BE DONE?
This op-ed by Joseph Stiglitz pretty well nails it. We need to go yet further into debt to get through what could be a long recession – but debt that gives us the most bang for the buck.
WHAT *YOU* NEED TO DO
Live beneath your means; diversify; vote Democrat.
Speaking of which . . .
You liked Obama best (35%), then Edwards (24%), Clinton (20%), and McCain (12%).
Among the 21% of you identifying as Independents, the rank order was the same.
Nearly 80% of you rated Giuliani unacceptable – ‘Agh!’ – topped only by Huckabee and Thompson (88%).
Romney – who will likely be the Republican nominee – was the first choice of 5% but unacceptable to 72%. McCain, the second most likely candidate, was unacceptable to 40% of you.
By contrast, only 7% of you found Obama unacceptable (15%, Edwards; 19%, Clinton).
(Surveymonkey takes all these numbers out to a decimal place. I’ve rounded off.)
A third of you identify as liberal Democrats, 29% as moderate Democrats, 21% as Independents, 10% as moderate Republicans (thank you for having the open-mindedness to visit this site), just 1.5% as Conservative Republicans (thank you, too!) and 4% as Libertarians.
Fewer than 2% of you are not eligible to vote (foreigners, felons, fifteen-year-olds); fewer than 1% admitted to being not registered to vote.
You live in blue states (52%), red states (29%), purple states (13%), and Florida (5%).
A fifth of you have household income in excess of $200,000 . . . 38% between $100,000 and $200,000, . . . 33% between $50,000 and $100,000 . . . 10% below $50,000.
In the high-income group, Obama was still first (34%), then Clinton (24%), then Edwards (19%) and McCain (12%).
And more than one of your fails to fall into the expected mold:
- I was struck by the conservative Republican who put McCain as his first choice and Obama as his second. The only other two marked ‘acceptable’ were Romney and Edwards.
- And by the liberal Democrat who put Obama first but McCain second and Giuliani as the only other acceptable choice.
There was little enthusiasm for giving me your phone number. One Romney / Giuliani supporter wrote, ‘So you can discuss the fact that I as an evil rich person pays too little in taxes? I don’t think so.’ For the record: there is nothing evil about being rich. There may be something a little callous about being rich and wanting to finance the war by cutting taxes on the rich while tightening the bankruptcy law and watching median household income fall. But not evil.
You know how I get enthusiastic about stuff? Here’s something I’m enthusiastic about that I haven’t even tried yet: Be Fine skin care products. Made from food, like almonds and avocados, cucumbers, coconut and rosemary. And cocoa and pomegranate and jojoba.
Have you never thought to slather guacamole on your face?
No? After a few margaritas?
I am running down to my local CVS – and in a couple of weeks my local RiteAid – to Be Fine and buy it for all my friends.
And you should, too, for a very simple, compelling reason: they let me invest in the latest round of private financing. Wish me luck. It could be the next Honest Tea.
Quote of the Day
The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.~Adam Smith, The Wealth Of Nations
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