WSJ Publishes Pro-Obama Editorial

Things really have deteriorated between John McCain and the press: even the Wall Street Journal editorial board is turning on him. The famously conservative group publishes a column praising the economic policy of none other than Barack Obama:

The underreported economic news of the week is that Barack Obama favors a stronger dollar. Even better, he thinks a stronger greenback would help to reduce oil prices.

That at least is what the Democratic Presidential candidate told a town hall forum in Parma, Ohio, on Tuesday. "If we had a strengthening of the dollar, that would help" reduce fuel costs, he said, according to a Reuters dispatch ignored by most of the media. ... We don't know who is whispering in Mr. Obama's ear about the dollar, but he's on to a rich political vein.

Read the whole thing.

Comments

[BushBites]

Of course Obama knows the value of a strong dollar.

One of his top advisors is Paul Volcker, our last great Fed Chairman, and the man who cured the double digit inflation and interest rates of the 70s and ushered in the boom of the 80s for which conservatives incorrectly credit Ronald Reagan.

[BillCarson]

Compare Obama's pick of Paul Volcker with McCain's new economic advisor: Carly Fiorina.

The same Carly Fiorina who ran Hewlett-Packard straight into the ground!

http://www.latimes.com/news/politics/la-fi-fiorina6-2008aug06,0,2788229.story

[JKoos]

An endorsement of BO? Give me a break. BO is not loved on Wall Street or Main Street. He only gets a big hug from the unions, especially those representing government workers. He is mr Liberal Democrat and his message is clear. It has been repeatedly rejected over and over and will be again.

[BillCarson]

Nice try.

[cobobs]

Why do these guys always sound so programmed, so robotic?

[filo]

Because they copy and paste from the talking points without thinking fdor themselves.

[Querent]

Conservatives are almost all authoritarian personality types. They believe in picking a guy to run things, and then letting him do whatever he wants. Even trash the Constitution. They are fundamentally afraid of life, so they cluster together repeating their mantras, which are mindless magical talking-points such as "The market is self-correcting," and "Greed is good." Some of their members are ambitious. If one gets control, he believes himself to be infallible, if not actually the tool of God. It doesn't really matter whether New Orleans is destroyed, as long as you do a tour of the damage in shirtsleeves and give the Brownies a "Nice job!"

Therefore, whatever the party leaders say is by definition true, even if the human sensory apparatus reports that it's not. Ignore those neurons. They are unreliable and subversive.

Shut up, get back in line, and vote Republican!

[research]

Democrats are the party of prosperity and fiscal responsibility.

conservatives are the borrow and steal for your cronies to bankrupt the government till you can drowned it in a bath tub.

You conservatives have ZERO credibility.

[MarkInEugene]

Your holding on to an old generalization that may have applied during the Reagan years but it's a dead rotting corpse now.

To be so self-righteous after the current administration turned fiscal responsibility on its head is so typical of die-hard partisans.

Take that old tired "Give me a break" line and shove it!

[FloaterBall]

Thank you, Mr. ditto-head! Any thoughts of your own?

[GG1985]

I cannot wait for the debates. I hope every American voter will watch each and every debate to hear both candidate answer the same questions, live and unedited.

[ronito6]

If they go back to the League of Women Voters for a real debate, then I'll feel the same.

The last two sets of presidential debates in 2000 and 2004 were nothing but show pieces, for the candidates to repeat the talking points of their stump speeches. Usless.

But about this article. I think Rupert is nervous, so he is allowing pro-Obama stuff into the WSJ.

I think Murdock is trying to hedge his bets now that it appears that Obama's chances to win are strong. He is positioning to preserve his media empire.

I predict more positive press from Murdock concerns if Obama's winning looks inevitable.

[BushBites]

They're nothing more than TV Game Shows now.

[obamajusrocks]

Senator Obama is absolutely spot on.

A stronger US Dollar will do much more in bringing down the price of oil then any amount of offshore drilling MCain has been yapping his head off about.

The USD has been strengthening lately and just look by how much oil prices have dropped.

Go Obama ! We need a president with brains

[Dialogue]

Along those lines relating to a strong dollar, a President Obama could offer various industries, United States Government Loans, INTEREST FREE. For example, to revitalize and rejuvenate the American Steel Industry, the US Government could provide a 50 billion dollar interest free loan, to be paid back over the next 25 to 35 years.

Why interest free? BECAUSE INTEREST SHOULD NOT BE THOUGHT OF AS INEVITABLE.

The very idea that an industry should be allowed to capture, and siphon off more in interest, than the actual loan itself, needs to be challanged, examined and questioned, at the highest levels. The Executive and Legislative Branches of Government can make certain decisions, and those cut out of the interest rate-loop, will no doubt be quiet unhappy. However, the government has certain obligations, beyond making sure that interest is collected on nearly everything the government buys.

[lady49]

McCain HAS NEVER PROPOSED SUPPORT FOR THE STRONGER DOLLAR.

He admitted that he did not KNOW MUCH about economics and that he would have to "CATCH UP".
What he has proposed is a contiuation of WAY TOO MANY TAX BREAKS FOR THE RICH!

2% of the population controls 96% of our GNP and wealth!
Over the past 8 years DID ANY OF THIS TRICKLE DOWN!
No, of course not, the profits found their way to multple offshore accounts. The US dollar is very weak in this current market.

Those who would criticize Senator Obama's plan should recognize that his economic team is one of the most powerful teams any candidate has assembled in decades.

There are a lot of you who should, drop the same old dirty politics of Carl Rove and take a serious look at what's REALLY going on!

[mimsnpips]

I just want Obama to publicize these things in campaign ads. Here in PA Pappy McCain is outspending Obama about 8:1.

[tinatoledo31]

http://www.reuters.com/article/newsOne/idUSWBT00918420080617

[AtticusinPa]

Read carefully, this article raises more questions than it answers: he will "talk up" the dollar; open trade but agree to intervention only if the circumstances are right, but then his spokesperson does not state what those are. That sounds hollow to me. The author was being generous, as usual.

[Darsan54]

And yet another sign of the impending Apocalypse !!! The WS Journal endorsing a Democrat ! My gawd the world is about to end !!!!!!!!!!­!!!!!!!!!!­!!!!!!!!!!­!!!!!!!!!!­!!!!!!!!!!­!!!!!!!!!!­!!!!!!!!!!­!!!!!!!!!

[tinatoledo31]

this article in no way endorses b.o.

there have been several other articles in the wsj over the last few weeks that are very negative on the topic of b.o.'s economic policy ideas.

[coolrepublica]

Mccain has been saying that he favors a strong dollar for months. But people were too busy swooning over Obama to be listening.

I have a link to a reuter story dated June 17, 2008. and please read it carefully. I know it's hard to believe that this strong dollar issue a McCain idea, but since you guys live inside the Huffington bubble I took the liberty to provide proof to y'all. Happy reading.

http://www.reuters.com/article/newsOne/idUSWBT00918420080617

[likwitfaded]

You sir are an i diot. Everybody in America wants a stronger dollar. Its the way we are going to achieve that goal that is at issue here.

[Querent]

Your comment is brutally effective, because it is succinct, but accurate.

[TXOBAMAGIRL73]

Those who don't see that McSpongeBath is not the brightest of bulbs may have issues of their own...I find it hard to believe anyone that comes in here and defend this guy, who is not smarter than 5th grader. Then state nonsense like McCain has been saying he favors a strong dollar, he also said that Afghanistan shares a border with Iraq even a 5th grader knows that is not so. So when he stops make-up things and is making more sense, maybe until then you should stick with the talking point that are dulled out on his web sight.

[mamacat]

The trouble with McCain is that he says he is for everything, while working against the very things that he says he is for. He is glad to say that he is for everything that we Dems want, while constantly showing that he doesn't understand the issues, and getting in the way of getting anything done.

[Veratruth]

I guess I completely missed McCain's saying he favored a strong dollar. He can't seem to THINK FOR HIMSELF until Obama speaks about the issues ... then he latches on. He keeps me confused and I doubt if he ever tells the truth. I don't care to listen to his jabber. One day he had trouble with a simple sentence about $4.00 gas ... $4.00 ... ah gas.... gas $4.00 ... Obama this .... Obama that... constantly.

[Hillrick]

Just like Mamacat says, just wait, McCain will say what you want to be pandered to if you just give him enough time.

[sawdustinhershoes]

Just like Bush. Bush "champions" popular programs and even supports them with his signature, then he doesn't finance them. He's done that a lot.

I read that it was another Rove tactic. That is, promise the people whatever they want, then don't finance it. People won't realize he didn't follow through, because it usually takes time for these programs to be instituted and no one has been calling Bush on it. Rove knows how to lie to people, he knows their memories are short and that few people actually have the resources to follow-up and make sure Bush does what he says he's gonna do.

This is a tactic. I'm sure they're all really proud of themselves. You see sociopaths are far more apt to congratulate themselves on getting one over on someone than they are to do the right thing. In fact, they think true altruism is for fools.

[Veratruth]

We shouldn't have go to other websites and read for hours about who said, "STRONG DOLLAR" first. The only ones who care about which candidate said something FIRST are the ones who NEVER want to give SEN. OBAMA credit for ANYTHING. I KNOW WHO LIES MOST.

[Dialogue]

Along those lines of who said "Strong Dollar" first, a strong dollar means different things to different politicians. For example, some politicians may believe that a strong dollar means much higher interest rates, even if it wrecks the economy.

A strong dollar could mean, prices remain constant for decades, instead of adjusting and shifting on a daily or weekly basis. This type of stability would mean that a 15 dollar hourly wage would buy for workers in 2042, exactly what it buys today, in August 2008.

To begin moving toward that objective, a President Obama could provide certain American industries, interest free government loans, to be paid back over 10, 20, 30 or more years. INTEREST SHOULD NOT BE A REQUIREMENT, OR CONSIDERED AN INEVITABLE EVENTUALITY ON EVERY TRANSACTION KNOWN TO GOVERNMENT, OR MAN.

Those who want to collect interest, will not be pleased. But, they are men and women, not GOD'S. They are adults, and they will get over it.

[Heavy]

Perhaps one of the most idiot ic posts I have ever seen. Congrats. Guess you busted us. Dems have been pushing for a weaker dollar for ever....lol. The only problem genius is that your party has effectively engineered the weakening of the dollar for years now, only fools like you think voting the same way will change anything. Einstein's definition of madness: doing the same thing over and over and expecting a different result. Congratulations, you are mad!

[tinatoledo31]

how is this an idiotic post? not once did he say that dems have been pushing for a weaker dollar. i believe all he was doing was showing that at the end of the wsj article, it says "over to you johm mccain", and j.m. has already been talking about a stronger dollar.

also, why does this article say "even the Wall Street Journal editorial board is turning on him." that wsj article does not endorse b.o. in any way.

[schicklett3]

The media needs to show just how demented John McCain really is. He is a dangerous man, and the media needs to start showing just how bad this man really is.
This election is very important.... and John McCain is not the man for the job....so, stop handling him with kid gloves and start reporting.

[norkas]

The maket will crash big time if Mc Cain wins. The reason is simple there will be no global confidence and little domestic if Mc Cain gets in. The race factor is part of life and if Mc Cain gets in those who vote for him will shortly realize that the polices he has are not good for America and its allies. All of this will effect the economy. If people do not globally have confidence in our leadership you will see the dollar weaken severly . Yes the world watches and it does effect us.

[obamajusrocks]

Absolutely - a mccain victory would be a calamity for the US and global economy.

The dollar will very likely experience a sharp and steep decline - and that will push oil prices through the roof - probably double from current levels.

Think very clearly before pulling that lever for McCain - it will cost your wallets more than you could ever imagine

[andrew780]

Why does everyone care so much about media groups being "fair and balanced". First of all when people say this they usually just mean there should be equal praise given to all of the parties' positions but by that definition almost nobody in the msm is fair and balanced because i've seen barely any coverage of McKinney, Nader, Barr or Baldwin. They do have the right to report on any of the issues that they think are most important though, and if that benefits one party over another then so be it. But I do think its a problem when some people in the media deliberately try to find ways to manipulate what people think (MSNBC, Fox News). The real problem with the media as far as im concerned is all of the special interests that control them. This is why all of the dissenting voices in the lead up to the war in Iraq were not heard from, and why people like Rudy Giuliani are able to get away with saying things like theres no such thing as blowback.

[Onedog]

There is no way you can put MSNBC and Fox News in the same parenthesis. They have NOTHING in common, you may disagree and that's cool everyone has their own opinion but I 'm an old retired news junkie and I watch them all and anyone with a brain can see Fox News has close ties with the GOP. Kieth Olberman is miles above any thing Fox News has to offer. Just wanted to get that off my chest.

[Veratruth]

Journalist and many others in the MSM are in the upper income bracket, and they are SCARED to death that they might lose some of their millions. That is the reason they lean toward McCain. And, that is why most Publicans won't let go of his coattails. They know who controls the corporate purse strings.

[mari2JJ]

Actually there were many who objected to the invasionof Iraq and I personally contacted the Bush Administration to protest their lies leading up to the invasion of Iraq. Unfortunately, Bush 43 approved the invasion of iraq after consultation with Congress that included only a bunch of lies about the threat. That entire scenario has long ago come unravelled and we find out Bush's intel report to Copngress was basd on a pack of lies. Bush purposly denied any evidence that contradicted his theoryre Iraq to the point of even putting the life of a clandestine operative at risk. He hated Mr. Wilson so much because Wilson' knew the facts and Bush childishly put Mrs. Wilson's life at risk, even though fe knew that his tall tales about Iraq were all based on a pack of lies. I have a Psycholigist collegue who predicted that Bush would try to outdo his daddy by invading Iraq. If that was his plan, once again GW has failed miserably, Remember Bush 1 cleaned up Iraq in just weeks with other countries in the area participating by flying bombing missiona and paying huge sums to finance the war. By comparison, Bush Jr. Is a first class flop as usual.

[Heavy]

It's called "fairness in broadcasting" and it needs to be reinstated so MSNBC can spend less time correcting the lies of Faux News and actually report. You are a good example of how Faux News viewers are up to 800% more likely to incorrectly answer questions on current events.

[livewire19]

Hardly what I'd call a ringing endorsement of economic policy. More like amazement that something coming out of the Obama economic strategists actually makes sense. It' doesn't exactly take a genius to know that since oil is priced in dollars, a stronger dollar will bring down the price of oil not just in the US but worldwide. Of course, lip-flapping is the easy part, actually doing something is a lot more difficult.

[JonW]

Migosh, did you think that the conservative press would finally come out of their stupor and realize that McCain is an empty shell. Even the WSJ doesn't want another 4 years of stupidity and smashing the Constitution. Congrats WSJ on your belated wisdom!!

[livewire19]

Anyone who thinks the conservative press likes McCain hasn't been paying attention. It's more a case of holding their noses and picking the least worst choice. An impartial press would find both candidates woefully lacking, and demand better choices. Obama's a fluke of the bizarre Democratic primary process. Let's hope if he gets elected he doesn't turn into Jimmy Carter II.

[jinxed]

If you've even been watching what has been happening in the energy world just maybe you would have noticed that Jimmy wasn't as dumb as the Republicans were able to paint him. If we, as a nation, had actually followed the policies he proposed 30 years ago we wouldn't be dealing with this oil mess now. He actually had a plan. He had solar panels installed on the White House which good ol' Ronnie had removed as soon as he took office.

If you people still believe Ronnie was a great president, you must have been sleeping for the last 30 years. He was the beginning of the mess we now face as a nation. Talk is cheap, actions show the true person. I dare you to look back at Ronnie's golden days with your eyes open then tell yourself how wonderful he was to the middle class!

[mairs]

They do coddle and serve McCain. ABC took out McCain's mistake from his interview and inserted an answer from a different interview. They immediately drop any mention of McCain's numerous mistakes. They immediately dropped the story of McCain and Iseman. On and on.

[Heavy]

Just when I think I've read the most moro nic posts, I find something new that sets the bar even higher.

[Gogetter]

I read this article, and while it was positive towards Obama, it was a little tepid. The last line left room for them to do a 180 if they so desired. Then I ran across this -- http://www.marketwatch.com/news/story/why-mccain-would-mediocre-president/story.aspx?guid=%7b4914192B-12AF-4623-AB18-5EFE91204B04%7d&print=true&dist=printMidSection

I haven't read the whole thing yet, but I was floored by the headline alone. Here are the last few lines from the article: "McCain fits neither style. He's neither a dreamer, nor a detail guy. His major accomplishment, in Vietnam and in the Senate, has been merely to survive. Just surviving doesn't make you're a hero, or a decent president. America needs to do more than survive the next four years. "

Damn!!!

Sweet vindication for Gen. Clark.

[Elrancho]

Great article - thanks for the link. I wish everyone would read it.

[clevelandchick]

That is an excellent article you linked to. Read it, saved it, will forward it on.

[PapaRonn]

Excellent article , spot on and truthful .Even the Repubs can't deny McCain's do-nothingness.In other words ,maybe we are doing W a disservice by comparing MCCain to him

[TovSquirrel]

Completely off topic . . .

What happens if/when Senator McCain "melts down" (mentally/­physically­) before the election (or even the convention)?

On topic: The WSJ just dislikes Senator Obama less than Senator McCain/President Bush. About time someone there wised up.

[Rog49Thomas]

We"ve had more than one occupant of the Oval Office who wasn't completely there. We've had one chap run for re-election who wasn't quite right (I am not thinking about 2004 if you're wondering).

As to the WSJ, they are showing that they are "fair and balanced" not by praising Brother Neo but an economic principle.

Make no mistake. The WSJ Editorial Page makes Faux News truly look fair and balanced. And they will endorse the Republican candidate and work for his election.

[cdembrey]

If what you say is true, then why is Obama getting more money from Wall Street than McCain ?

[Seattlelite]

Recently O met with a group of the top economic brains in this country, barley got a mention in the media. Energy experts have said O has the best plan for long term, hardly a mention. O's been on the stump for weeks giving VERY detailed speeches on his plans for this country hardly any coverage.

John Mc and the republicans plan is to paint O as a empty suite celebrity, and thanks to the media's love of Mc it's actually getting traction. This overt media pass John Mc is getting is very troubling.

[Bluesue]

Oh, it got more than a mention. Remember that was part of Milbank's "proof" that Obama was presumptuous.

I just don't get why the press is so negative about Obama for doing things like seeking information and counsel from the top economic brains in the country. No, that makes him presumptuous when they should be saying it make him smart.

[cdembrey]

Those "top economists" had strong Wall Street connections. People like Jon Corzine and Robert Rubin, both former Goldman Sachs executives for instance.

[UnknownSoldier]

The Media wanted focus on the McNap's race card statement, they stayed on that non-issue for a week, while 0-bam-a was talking about the economy.

[adnmoh1]

yeah someone finally understands the principles of global economics. currency devaluation was the leading cause for oil to jump starting in 2002-2006. once the euro and union jack starting rising over the dollar weve had to pay for our commodities on an increasing basis since the goper prideful ignorant lot took office. yes finally someone thats understands (one piece) what causes this economy to fail!


just rpeating