Is it a recession? The stock market went south this morning after Wachovia reported its big quarterly loss. The global markets have also tumbled down. Mortgage rates are at an 8-year low. And 41 states reported job losses in September. Plus, the U.S. had the highest level of mass layoffs, when employers let go of 50+ employees, since 9/11. Even tech giant, Yahoo is expected to layoff at least 1,500 employees.
The good news: credit markets improved as bank-to-bank lending rates declined. And there is a possibility of a second economic stimulus package after the presidential election.
Early voting rates is leading many election officials to forecast 2008 as record turnout year. And in many states, African Americans are “turning out in disproportionate numbers.”
However, an Albuquerque woman was recently turned away from the polls because she wore an Obama t-shirt. Apparently, New Mexico’s law prevents any campaign paraphernalia, including good ole tees, from appearing at the polls (but allows intoxicated people to vote). Hmm… So word to the wise, don’t wear your favorite Obama or McCain shirt to the polls.
With only two weeks left until Election Day, the most recent Pew poll has Obama leading McCain by 14 points. And the Reuters/C-SPAN/Zogby poll released today has Obama up by 10 points.
Palin’s in the hot seat big time now. In addition to “Troopergate”, Ms. Governor of Alaska has been accused of using the state’s money to fund her children’s travel to the tune of over $21,000. And to keep Palin looking her best on the campaign trail, the Republican Party has reportedly spent more than $150,000 on her wardrobe.
Although she has been called a role model for women, the owners of this web site are calling Palin an idiot. Ouch!
And speaking of potential role models (not!), Britney Spears case ends in a mistrial. The jurors simply couldn’t agree on whether Spears was driving without her license. Meanwhile, her song “Womanizer” is at the top of the Billboard music charts.