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    Wednesday Morning Jane

    By CJP | October 8, 2008

    Good morning, Janes! Sometimes we think the market is acting a little like a petulant child, falling and screaming when it doesn’t get what it wants, then getting what it wants, and then not wanting it anymore. What gives, Dow Jones?

    We’re thinking we might all be better off if we replaced Jim Kramer with Super Nanny so that she can put the S&P and NASDAQ in Time Out until they decide to behave. For their bedtime story, we’d read them this, the Morning Jane…

    Top Domestic Story: The Economy

    • Several of the world’s central banks, including the U.S., took the unprecedented step last night of lowering interest rates together in an effort to stop the global meltdown. [Wall Street Journal]
    • The ban on short selling stocks, instituted to protect financial stocks from investors “betting for them to fail,” will expire at midnight tonight. To find out what short selling even is, check out the CJP Financial Glossary.
    Other Top Domestic Story: Campaign 2008
    • Denial isn’t just a river in Egypt- it goes through Nashville, too. During the debate last night, neither McCain nor Obama could name cuts to their existing proposals acknowledging the financial crisis. When asked which sacrifices Americans should make, McCain said he’d cut earmarks, while Obama promised to double the Peace Corps. WHAH? [Washington Post]
    • In addition to his advantage on the economy and millions of newly registered Democrats, Barack Obama has a huge money advantage and is outspending John McCain on tv ads three to one. [MSNBC]
    Top International Story: The British government has unveiled an $800 billion bailout of its own for the British banking system, leaving citizens to wonder, “Why do we have to bail them out?” Welcome to our world, Brits! [BBC]
    In a profile of J.Lo, the writer notes, “I’ve caught the family on a bad day,” and details the fact that J.Lo’s infant daughter has pierced ears and her son wears a black, sequined onesie. And it’s downhill from there….”The Daily Beast“

    Topics: Morning Jane

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    2 Responses to “Wednesday Morning Jane”

    1. George Spink Says:
      October 8th, 2008 at 1:19 pm

      Citizen Jane writes, “When asked which sacrifices Americans should make, McCain said he’d cut earmarks, while Obama promised to double the Peace Corps. WHAH?”

      Very good, Citizen Jane! I kept waiting for one of them to talk about sacrifices Americans will need to make. When Obama said he would double the Peace Corps, it made me wonder where the hell is head is at.

      Since JFK introduced the Peace Corps, I’ve wondered why the United States doesn’t make it a top priority to rebuild decaying American cities.

      The cities in Europe could be our model. Look how great they look! Look at the new cities in the Middle East! Look at Hong Kong, Kuala Lumpur!

      Why not make rebuilding our own cities a top priority? Probably seems irrelevant to the residents of Sonoma, but Obama should be on top of this.

      I’m a University of Chicago alum and lived in Hyde Park (Obama’s turf) for awhile. It is surrounded by the ghetto. What keeps it relatively safe is the University of Chicago’s own police department — the third largest in the State of Illinois (after Chicago and Springfield).

      George Spink
      Los Angeles

    2. admin Says:
      October 9th, 2008 at 6:53 pm

      Thanks for writing, George Spinks!

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