Friday, July 30th, 2010

Daily Verdict: October 17th, 2008

McCain and Obama show what politics can be like
A day after a testy debate, Obama and McCain, dressed in matching white bow-ties, delivered rousing comedic speeches at the historic and traditional Al Smith dinner. Both poked fun at themselves, their parties and running-mates. Obama alluded to himself as Superman and played up the historic stadium-filled DNC speech and even joked about Sarah Palin. McCain joked about Joe the plumber, his 7 houses, and even alluded that Hilary Clinton was actually his supporter. They both ended their speeches with kind words about one another that showed respect and appreciation. This goes to show that politics can be more than personal attacks and low blows. Why could this not have been the tone of both campaigns over the last few months?

Markets gain slightly, but still shaken, Oil up $2
Markets are mostly in the positive today after a taking a beating yesterday. The Dow is back up over 9000, with the FTSE100 also heading north of 4000. The TSX, CAC, DAX, IBEX and Nikkei all posted modest gains as well. However, more bad news from the US regarding the housing market and shaken consumer confidence will have an impact on how markets end the day as volatility is the only thing predictable recently. Oil prices also went up to $72/barrel as OPEC is expected to cut output after an emergency meeting next week.

Housing starts fall dramatically in US
A report stating that construction of new homes in the states has hit the second-lowest level in 50 years has further increased worries about a global recession prompting the EU and the US to meet and discuss further options to stabilize the world economy. Can something really be done or is will things really get worse before they get any better?

Germany passes $675 billion bank bailout
Germany’s government has approved a $675 billion bank bailout plan. The plan is part of a coordinated effort on behalf of the EU to stabilize markets and inject confidence back into banks to encourage more lending.

Omar causes damage in Antigua
Hurricane Omar, located 1000 kms southeast of Bermuda, has ravaged Antigua by destroying homes and battering the country’s agricultural industry. The hurricane is expected to head off further into the Atlantic to eventual extinction without causing further damage.

Spanish airline suspends flights
Spanish airline LTE has suspended operations leaving many passengers stranded after saying it is in serious financial difficulty. Several thousand passengers have been affected by the cancellation of flights and the 300 staff employed by the airline are also in danger. Is this the beginning of the end for European budget airlines? I hope not!

Palin to appear on SNL
Watch out Tina Fey! It appears the Barracuda herself will appear on SNL this weekend according to CNN. No details of her appearance or whether she will be part of any sketches have been released but it will surely boost ratings for SNL. This comes off the heels of John McCain making peace with David Letterman and even apologizing for his canceling of a previous appearance. There is no better way to gain free national media coverage than by going on mainstream television, even on programs where you’re constantly a target!

NASA attempt to fix Hubble in trouble
Recent NASA attempts to fix the ailing yet iconic space observatory have run into some troubles as the telescope slipped back into “safe mode” late Thursday. Hubble’s operations have “hobbled” for the last month but NASA will once again attempt to fix it today.