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A Race Against Foreclosure

Washington Post video reporter Travis Fox is traversing the country on a "3,000-mile road trip, from California to Washington, D.C., to see up close how the economic woes are beginning to affect regular people and how it's going to affect their vote in November." Above, you'll find his latest report, from North Las Vegas, Nev., where the foreclosure crisis has hit hard. You can follow his journey online at his blog from the road, Hard Times.

By Web Politics Editor  |  October 14, 2008; 1:04 PM ET
Categories:  Battlegrounds , Economy , Today at The Post , Video Report  
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Congratulations to Paul Krugman!

Back in the day, August 8, 2005 to be exact, the conservative economic "experts" (who have also endorsed McCain) at Powerline wrote this gem:

"It must be depressing to be Paul Krugman. No matter how well the economy performs, Krugman’s bitter vendetta against the Bush administration requires him to hunt for the black lining in a sky full of silvery clouds. With the economy now booming, what can Krugman possibly have to complain about? In today’s column, titled That Hissing Sound, Krugman says there is a housing bubble, and it’s about to burst.."

"There are, of course, obvious differences between houses and stocks. Most people own only one house at a time, and transaction costs make it impractical to buy and sell houses the way you buy and sell stocks. Krugman thinks the fact that James Glassman doesn’t buy the bubble theory is evidence in its favor, but if you read Glassman’s article on the subject, you’ll see that he actually makes some of the same points that Krugman does. But he argues, persuasively in my view, that there is little reason to fear a catastrophic collapse in home prices."

"Krugman will have to come up with something much better, I think, to cause many others to share his pessimism."

The "depressed" Krugman can cry himself to sleep with his Nobel Prize, as well as the realization that yes, he was right and the knuckledragging Republican wingnutosphere was once again proven tragically wrong.

Posted by: DrainYou | October 14, 2008 3:06 PM | Report abuse



Once again, Congress rushed through emergency legislation -- socializing the capital markets, ceding effective control of the economy to the government.

Officials continue to blame lax lending policies on the part of the mortgage industry for spawning this crisis.

But were lenders ORDERED to offer "easy credit" to people "targeted" by government agencies?

Is government "extrajudicial targeting" of American citizens a root cause of the mortgage meltdown that spawned the broader financial crisis?

And is there a disinformation campaign underway to blame the Democrats, instead of ideologues who have hijacked federal agencies as their tool of "social engineering."

Consider this: OR

Posted by: scrivener50 | October 14, 2008 2:02 PM | Report abuse

It's the end of the Greedy Oil Party as we know it ...and I feel fine.

"Our economy is structurally sound for the long term"
George W Bush - Feb 11, 2008

"The American people can remain confident in the soundness and the resilience of our financial system"
Henry Paulson - Sept 15, 2008

"The fundamentals of our economy are strong"
John McCain - Sept 15, 2008

"The economy is fundamentally sound"
Herbert Hoover - October, 1931

McCain does not have the ability to fix this economic crisis. After declaring the fundamentals of the economy strong, he created a political circus in Washington last week by mucking up bailout negotiations; a deplorable stunt, considering he and his political cronies helped cause the current meltdown.

It was McCain and his economic adviser Phil Gramm who pushed for the deregulation that helped lead to the banking crisis, and it was McCain's crony Rick Davis who had deep lobbyist ties to Freddie Mac. Don't let others be fooled by McCain's economic grandstanding because the reality is his policies and principles will only exacerbate our financial hardships.

McCain is being deceitful with his sudden populist message and support for regulation; his economic policies still favor our nation's wealthy elite.

Posted by: DrainYou | October 14, 2008 1:53 PM | Report abuse

Want to see what Happens when MTV hosts the debate.

See the winner of best Sarah Palin Impersonator

Posted by: pastor123 | October 14, 2008 1:21 PM | Report abuse

Tonights the last debate, I think McCain is going to do horrible because he is under so much pressure.Click Here To watch Old Debates, See Debate Outtakes Cant wait till tonight.

Posted by: pastor123 | October 14, 2008 1:17 PM | Report abuse

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