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McCain Fortunes Slip As Wall Street Dips
(2008-09-18)
(wypr) - Recent political events draw us to varying sources for perspective.

First, there's physics: Every action has an equal and opposite action and reaction. It's possible, for example, that the Palin Bounce has come and gone. It's seems unlikely now, but her presence on the ticket could end up being a problem for John McCain. The GOP candidate profited handsomely with his choice of the Alaska governor. But, everyone wondered, would it last? Would something make it into a mere moment in time? No one could say.

But there was this to consider: Following closely on the drama of the Palin phenomenon was the continuing collapse of financial institutions and Wall Street.

While the nation's (if not the world's) attention was focused on Ms. Palin's dramatic story, an already crippled Wall Street was slowed further by news that enormous financial institutions were in desperate financial distress - and going out of business. And, even worse, in the short run, the government was not rushing in with bales of rescue funds.

Senator McCain greeted the troubling news with assurances that the economy was in basically fine fettle. No one bought it. And he has spent the next day or so backing and filling, changing his tune.

Whereupon, we come to a dynamic that might be called political folklore. Here the latest political event ties in with the last, the Palin Bounce. Women, polling showed, were drawn to Ms. Palin in significant numbers. But who knows, if the attraction will last?



And there was more to consider. Women are thought by political scientists to be more prudent in their voting than men. They are thought to be the ones who weigh real would considerations when they vote. They vote with an eye toward leaders who, they judge, will be best able to shape a world in which families can sustain themselves.

Senator McCain has said the economy is not his forte. It's certainly not the forte of the current administration, either.

But what does this mean for his promise of change? Surely, this is one area where change is essential. Perhaps he can turn to Governor Palin for help.

You've been listening to an essay by WYPR's Senior News Analyst Fraser Smith. Your comments are welcome at fsmith@wypr.org
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