Saturday, May 10, 2008

Dum n Dummer 2

The LA Times had a poll today showing John McCain losing to either Clinton or Obama, which is good news for the economy. The bad news is that although 56% of the folks in this poll think the economy is "the top priority for candidates running for president to address," only 25% of them thought this in December 2007. Too late - you're already screwed!

"This American Life" ran a good show today on the subprime and credit crises. A former trader at Morgan Stanley's mortgage-backed securities desk said that they realized it was all going wrong around Halloween of 2006. Over a year later, only a quarter of the general public was very worried about the economy, and this was five months after the blow-ups of August. Why so slow, people? At this rate, we'll never turn it around.

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