AP reports that John McCain and Barack Obama are a statistically insignificant one point apart. With the globe entering a rough patch, let's consider McCain's qualifications to solve its enormous economic and financial challenges.
Here are six factors to consider:
-
Weak ideas to solve economic crisis. McCain believes that tax and budget cuts will solve the financial crisis. And his chief economic advisor, Phil "Americans are Whiners" Gramm, deregulated the $54 trillion Credit Default Swap (CDS) market that brought down many of our leading financial institutions and continues to freeze financial markets around the world.
- Influenced by lobbyists. McCain responds well to campaign contributors -- particularly those who help his family. For instance, he protected Charles Keating, an S&L executive who arranged a real estate deal for his wife, from government regulators. This cost the government $3.4 billion when it bailed out Keating's S&L.
- 90% support of incumbent. George W. Bush has the highest disapproval rating in history but some people still support him. Those people are no doubt happy that McCain has voted with Bush at least 90% of the time. But it's not just the votes, it is also the hate-mongering campaign tactics McCain is using to try to win votes -- the same ones that Bush used in 2000 to defeat McCain in South Carolina. For example, on Friday it came to light that a McCain staffer made up a story that a mugger attacked her and cut the letter B in her face after seeing her McCain bumper sticker. It looks like a case of Stockholm Syndrome -- McCain has become his tormentor (Bush).
-
Health. 72-year-old McCain has been stricken with bouts of skin cancer -- some quite severe. His health is a concern to himself and his family and it should give pause to voters who must consider whether he would be able to serve his full term in office -- and if not, who would be stepping into the role in his stead.
-
Choice of VP not qualified to lead. While Sarah Palin is a very entertaining figure, some have questioned whether she is the best person to step into the Oval Office if McCain can no longer serve. Her $150,000 shopping spree on the RNC's ticket probably won't be enough to revive the economy. Nor will the fact that her highest paid employee, a makeup stylist, received $22,800 in the first two weeks of October. And her testimony in an Alaskan ethics probe is a distraction to the presidential campaign. McCain's failure to choose a more qualified person, such as Mitt Romney, sheds light on his judgment.
-
Temperament. Ever since McCain suspended his campaign to solve the economic crisis, only to resume it without accomplishing anything, some people have wondered whether he handles a crisis situation well. He's crashed five aircraft; came in fifth from the bottom of his college class; suffers from a gambling problem and cheated on his injured first wife. But perhaps he's overcome all that as he's matured.
The AP poll puts the election in reach for McCain. And if you think he's well qualified to solve the crises facing our country, vote him in on November 4th.
Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter.
Will Rich Ross really have a positive impact on Disney's movie operations?
Consumers sick of recession, may spend extra on holidays
Corrections, seasonality and Santa Claus
Reader Comments (Page 1 of 1)
10-25-2008 @ 11:56AM
Tiny said...
This was a horrible article. I can see why Obama is not fit to lead, but you don't state the obvious . Obama has NO EXPERIENCE....PERIOD. Why bash Mcain. The media is so lopsided that it's not even worth reading trash like this anymore
10-25-2008 @ 12:17PM
al said...
why is this person allowed to blog here on aol blogging stocks, with this pure propaganda and poor analysis and writing? aol blogging stocks management: keep an eye on this one. he is disgracing your service.
10-25-2008 @ 12:17PM
rob said...
Why do you print such dribble and lies. Cohan is so far off it is a discredit to AOL to print such garbage. Another liberal professor at our "distinquished institutions."
10-25-2008 @ 12:28PM
Wayne Fritts said...
Hey Peter your an idiot, you didn't use all of the democratic talking points. Why not?
10-25-2008 @ 12:42PM
Ben Dover said...
I think this was a good article overall, a bit biased but there were citations to back up the claims. As with anything dealing with politics, you will get backlash from everyone for writing this article.
10-25-2008 @ 12:56PM
Chris said...
I think everyone makes good points but their is question in the air for both parties. You need to look at the experience rather than just the speeches. I will admit, I read an interesting blog talking about the "conservative argument" for obama. You can check it out and please tell me if you disagree!
http://www.gotoguy.com/?p=261
10-25-2008 @ 1:42PM
3018c133 said...
Mccain is a typical Republican who protects the Wealthy while doing nothing for the other 90% of Americans.After 8 years of George Bush and his economic disaster its a wonder why any sane person would support another Republican presidency. I suppose people are afraid that a black canidate would actually do a good job and that is what scares the bigots.
10-25-2008 @ 1:53PM
al said...
this is why obama will ultimately be a horrible president, should he win, he and his followers play the race card every day: calling anyone who is NOT for the big O a bigot. Not that's SO uniting. not.
10-25-2008 @ 2:10PM
David Jump said...
Peter:
I hope that you do a better analysis of your core subject matter. This one was a non-starter.
As Fred Smith, the CEO of Fedex stated, he supports McCain due to his view on taxes, healthcare and the economy. He disagrees with Obama for the same reasons.
As far a Governor Palin. Who said she's unqualified? The mainstream press. They can't even get lunch right! My take on the Governor is that she's a bright lady, and a quick study. Joe Biden, on the other hand is part of the problem - for 36 years! He is also widely regarded in Kent and Sussex counties (Delaware) as something as a punchline. Moreover, I don't recall seeing where anyone commented on John Edwards' qualifications - he was known as the stealth senator.
Peter, your donkey is showing.
10-25-2008 @ 2:13PM
badonka said...
wake up america! we don't need or want socialism here! take tgis advice from a cuban -american who has lived in both types of government. lets stop bashing the rich and start taking responsibility for our own actions and financial future.
the government taking care of our basic needs takes away free enterprise!!!!!!!!
10-25-2008 @ 2:33PM
NJSwampdragon said...
Biased political views aren't going to get people to sign up for you crappy newsletter Peter. Stupid move.
10-25-2008 @ 4:00PM
SKM said...
Peter you are a moron.
I vote for Governor Palin anytime before I cast my vote for a community organizer who has no executive experience at all.
10-25-2008 @ 5:53PM
Gary E. Sattler said...
...and here's the alternate economic recovery strategy from Obama.
Compliments of Forbes:
http://www.forbes.com/2008/10/24/barack-obama-law-ent-law-cx_rb_1023robertbovarnickobama_print.html
10-26-2008 @ 9:36AM
Randy said...
This article was simply out of the Democratic playbook. No real analysis, no substance, pure partisan politics. Are we supposed to believe that the comment about McCain voting for Bush 90% of the time was unique thought?
This guy should be writing for AP.
10-27-2008 @ 5:21AM
andy abraham said...
We have been chatting on Myinvestorsplace.com and we feel either candidate will have a very hard time... I would not want to either one of them...
Andy
www.myinvestorsplace.com
10-28-2008 @ 10:21AM
sam said...
If you talk to anyone, they will tell you why they think their candidate is the best choice for president. With that said, I will tell you why I think this blog was b.s. and that John McCain is the best choice. Obama has TWO years of senatorial experience...how does that qualify him to be president? Obama has a friend in the terrorist sector...Bill Ayers. Obama has given $832,000 to ACORN {do fraudulent voter registrations ring a bell?} Michelle Obama has stated that she is NOT proud to be an American {basically} and that, with Barrack's association with the less-than-honorable Reverend Jeremiah Wright, tells me that I don't want him in the White House. Don't get me started on the tax plans. If Obama wins this election, we will all be sorry..."mark my words" {so eloquently put by Joe Biden. Wake up, people.
10-28-2008 @ 10:48AM
Sharon said...
And by the way, I would much rather have Sarah Palin in the Oval Office, with her experience, than Joe Biden, should the unthinkable happen. She can't do any worse than the many men who have been given the opportunity to "run" this great country.