All of a sudden, I am watching David Letterman more lately. I was a Letterman fan from all the way back when he started on daytime to the early 2000s, when I switched to Jay Leno because I thought Leno’s writers were better and Dave was getting old. But when John McCain weaseled out on Letterman last week, I have been paying more attention. So tonight, I tuned in and was rewarded by a couple more McCain digs by Dave: ”Senator John McCain is in favor of the bailout, he loves bailouts, he bailed out on me” and “John McCain has no need for Bush…oh, I was thinking of Clay Aiken”.
I admit when I am about to write something lame, and this is one of those instances. I just wanted to say, I don’t think it will be Armageddon tomorrow. It’s not that I am Pollyannic; I still predict Dow 5000 and oil $300 sometime in the 2010s if John McCain wins. But I wanted you peeps to relax. I think the credit markets – such as the critical commercial paper market for businesses – could get a little rough, but the news here and here and the discussion here make me think everything should be OK and will be OK. The Australian stock market seems to be holding steady. Yes, the Dow might tumble a bit, but we are five weeks from calling for the cavalry to come to the rescue. (Yes, folks, one man can make the difference.) I would prefer to say “I told you so” when things seem bleak and I think things are going to be OK.
[UPDATE, September 30, 2008: And, I should add, not everything fashionably bad said about America is necessarily good. Abject cynicism should never be mistaken for critical thinking. Somehow, there must be a place for hope in intellectualism.]
[UPDATE, September 30, 2008: After being down 777.68 points yesterday, the Dow Jones Industrial False Prophet Index was up 485.21 today. No Paulson Armageddon today, sorry. I'll go out on a limb again and predict the world will not end tomorrow. Also, I should note: CNBC Sucks just passed a milestone. No, I am not talking about 50,000 page views in less than 4 months. I am talking about over 200 votes in the CNBC Bra Size Poll. Can you imagine getting 200 people to vote on a stupid bra size poll?]