Thursday, October 9, 2008

Obama finds his voice on the economy. - By John Dickerson - Slate Magazine

"After playing professor, Obama pivoted to pastor. The sermon was American exceptionalism. 'I am here today to tell you that there are better days ahead,' he said. 'This is the United States of America. This is a nation that has faced down war and Depression; great challenges and great threats. … Here in America, our destiny is not written for us, but by us. That's who we are, and that's the country we need to be right now'" -- Obama finds his voice on the economy. - By John Dickerson - Slate Magazine.

Sometimes, a little optimism is much appreciated.

Yesterday at work we had a prof from Huntington College speaking to us about the economy--the causes of the crisis, what's happening in the markets now, what might happen in the future. He's a gentleman of great experience--has worked at placed like Dreyfus Corp., Chemical Bank, and Fidelity Investments, and he spoke with great assurance and knowledge. He's a conservative, of course, and I'd guess a Republican, although he did not specify that.

The tie-in? The prof, too, sounded a note of optimism--he does not think we are headed for any kind of depression, great or otherwise; he thinks the volatility of the markets is based on irrational, media-driven pessimism; and that a united effort, such as the world-wide interest rate drop yesterday, is what will pull the economy out of its downtown. Not that it will be easy, or quick.

We need to hear this, too:
"But the emotional thrust of his speech was that our collective American identity is the key to overcoming our adversity. "I won't pretend this will be easy or come without cost," he said. "We will all need to sacrifice, and we will all need to pull our weight because now more than ever, we are all in this together. What this crisis has taught us is that at the end of the day, there is no real separation between Main Street and Wall Street. There is only the road we're traveling on as Americans—and we will rise or fall on that journey as one nation, as one people." The crowd of 21,000 (19,500 or so sat under protected bleachers) responded with predictable ferocity."

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