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

[Amalek]

What's next - Hannity asking if we "Got Hope"?

[NoahVail]

A strong dollar is patriotic. So is paying your taxes, cleaning your windshield and inflating your tires!

[firewmn]

I'm ALL for a strong greenback... can't wait to get my hands one too.!!

See you in January greenie..

[Einstein44]

Slowly,but surely, a portion of America is catching on to Obama's great potential as a leader.

[darthmaul]

Your a business man (WSJ), who do you want running your company (or country). An old past retirement age fighter pilot or an ivy league educated, bright young and vigorous individual? Pretty simple decision isn't it?

[eden4barack08]

You'd think!

[NoahVail]

Yeah, if I was considering them as stockbrokers I know what I would do in a heartbeat.

[Pupadup4oBama]

Wow when you put it like that, the answer is SOOOO obvious.
The imagery is beautiful.

[hog]

The Wall Street Journal, like everyone else, is actually concerned about John McCain.

[rosal]

A lot of business are going down fast. Corporations can see and feel the results of a failed economy policy. I don't think they want a continuation, so its no surprise they like O. policies.

[UnbiasView]

Failing doesn't happen anymore . . . government steps in . . . just wait for the auto companies.

[cunuck]

I don't know why anyone would be surprised that the WSJ would support Obama. He is not averse and even supportive of many neo-liberal economic policies, he is solidly to the right on the military, he is almost neo-conservative in relation to the middle east, he is an authoritarian when it comes to domestic policies - in other words, Obama is well right of center. He has had the bankers and Wall St. as contributors since the start so I am not surprised at this in the least.

Most Americans want someone a little more towards center. But of the two choices, Obama is a much better fit than McCain.

You might want to have a view of this site:

http://www.politicalcompass.org/index
"It's simply a measure of attitudes and inevitable human contradictions to provide a more integrated definition of where people and parties are really at.

[Arguman]

Meh, he'll make an about face on most of those issues that he's "flip flopped" on once he's in office.

[cunuck]

I don't think Obama will change any of his views rapidly. He holds a strong belief system based on reason and judgment.

But, he is also not blindly stubborn and is open to modifying positions as required by circumstances.

The are good things, my friend.

[SeanOcali]

"Whispering in his ear" - WTF!?! Isn't that like 3rd grade economics? Who doesn't advocate a strong dollar policy?

[Crake]

Bush.

[poppaculture]

SeanOcali wrote: "Who doesn't advocate a strong dollar policy?" --- WHO? --- People that are running up an INCREDIBLE national debt and want to pay it off in cheaper dollars. (perhaps they teach that in fourth grade --- along with "My Little Goat")

[BGDiNLV]

Systematic destruction of the American Dollar.!!! And it only took 8 years!! SAD,SAD,SAD!!

[WillNYC]

McCain thinks the paper rips to easy... is that close enough?

[akryan]

there are arguments out there for a moderately weak dollar. it makes our debt worth less. it also also helps exports. the problem with that line of thinking is that everything it takes to make the dollar weak tanks the economy. Really it's just a hidden form of regressive taxation. I think the point the WSJ was making is that no one has really brought up the weak dollar as a reason for high commodity prices. I'd noticed this too actually. It should be pretty obvious that if the dollar is weak then it will take more dollars to buy things, but no one has pointed this out. I think the example of the canadian dollar being stronger than the US dollar is one that most people can understand and should be used by Obama ad nauseum.

[SeanOcali]

I understand those responsible for the weak dollar want to minimize the perception of its negative impact. I still don't understand how Obama (or anyone who fashions them self as a populist progressive) would not be in favor of a strong dollar, and how this is some amazing revelation that Obama is supporting it - so amazing that he must not have thought it up himself (the ear whispering thing).

[nellie]

"Fed officials -- in particular, Vice Chairman Donald Kohn -- have expressly rejected any strong link between the dollar's collapse and the oil price surge since last August. This conveniently absolves the Fed and Bush Treasury of responsibility for the consequences of what has been their destructive and all but explicit dollar devaluation strategy."

Is this the Wall Street Journal Op Ed page??

Seriously, though, this kind of sophisticated analysis is really refreshing. I doubt it will get any coverage beyond this page, but when the WSJ says Obama has hit a "rich political vein" because of his fiscal analysis, I'm encouraged that at least one segment of the press is interested in finding a connection between the perspectives of the candidates and the best interests of the country.

[TrevorAlan]

Because the Wall Street Journal are true conservatives who know John McCain, whatever he may have been in the past, makes no sense now. Even under Murdoch (or at least, not yet under him) they're not bitter-enders who won't claim that down is up if that's the talking point.

[cunuck]

Old time Conservatives would not recognize the current bunch, nor would the old time Liberals recognize their counterparts. Both parties have been taken over by a new - NEO - form in the last 3 decades.

[nellie]

Business people know what's what. They want some solutions. Not more of the same economic destruction. We have to change the course of this Titanic while there's still time.

[Roy49]

Now that is pure genius! Why didn't I think of that? If the dollar is better over seas (and right now it still sucks everywhere) overseas consumer confident goes up, the dollar gets stronger, and oil prices get cheaper. Senator Obama is amazing! And one of the things that will MAKE the dollar stronger, is things like normalized and increased relations with our allies overseas, a time table on the Iraq War, supporting Habeas Corpus, and Senator Obama taking a trip overseas to personally visit our allies and display America's good will and intent (just like he did and 50% of Americans said it didn't help). I guess that's why he's a law professor and just straight brilliant! He probably knew that the whole time. America needs a smart president to fix this tragic economy we're in. So, the "Wall Street" Journal backs the Obama editorial, huh? Now, that's what I'm talking about!

Hail to the Chief!

[skyreader7]

The WSJ understands that 8 years of Don Quixote's economic policies won't be improved by 4 years of Sancho Panza's.

[humbug]

Expressed beautifully. Thank you Skyreader 7.
humbug

[nellie]

Nice line. Mind if I borrow it sometime?

[BabsfromKansas]

LOL

[ObserverinVancouver]

I thought Lindsay Graham was Sancho Panza.

[jmpurser]

"The famously conservative group..."

Please. Famously republican. Not famously conservative.

[EarthToZoey]

Exactly. "Conservative" ideology still garners due respect. Most conservatives of the Barry Goldwater stripe are ashamed of the hijacked Republican party of today.

[eatyourveggies]

Yes.

Conservatives, such as Treasury Sec. O'Neill, are rooted in reality, not neo-con (neo-lib) fantasy, and they are scorned by Bush/Cheney/Reagan repugs

There are some Repubs w/sane principles.

[disgusted48]

You would never know it as they are very quiet with their criticism.

[BlueTongue]

Wall Street seems to suffer under Republican rule, and thrive under Democrats. You'd think all businessmen (except Big Oil and Defense Contractors) would be pro Obama after 8 years of Bush.

[larmarch5]

They understand it in their heads, but they are greedy in their guts.