Disaster Ahead for McCain, Obama, and Us

Economic crisis will ruin political, financial fortunes alike
By Gabriel Winant,  Newser User
Posted Oct 9, 2008 10:07 AM CDT
Ben Bernanke speaks to the National Association for Business Economics, Tuesday, Oct. 7, 2008, in Washington.    (AP Photo/Manuel Balce Ceneta)
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(Newser) – Disaster’s dead ahead for John McCain, for Barack Obama, and for the rest of us, too, writes Rosa Brooks in the Los Angeles Times. McCain is “a dead man walking,” as he’ll soon find out. The "winner" will be a President Obama with no idea "how to keep the global economic crisis from sending all the rest of us to the bottom of the sea, right along with McCain and the GOP."

Don't blame Obama for that—even the experts are out of their depth. “That's what makes our situation so frightening. Entire national economies are starting to sink. And in today's globalized economy, we all sink or swim together.” Whatever Obama says to reassure voters as election day gets close, "I hope he's got his most creative economists working to figure this out." This crisis—which the IMF calls “the most dangerous financial shock” since the 1930s—is no standard downturn.