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Tuesday, October 28, 2008
Cavuto: McCain's Got the Courage, Not the Conviction
Neil Cavuto, Managing Editor and Anchor
FOXBusiness
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John McCain, I figured out today why you're losing.
Your positions are always changing.
You voted for the $700 billion rescue package.
Yet today lumped your opponent with the Bush Administration for essentially pushing the same package.
Here's the deal:
What's the deal with the straight talk express?
He voted for this rescue, but now says Barack Obama and the White House, who voted for the same rescue, apparently voted for something different.
Specifically, McCain wants to target the $700 billion into solving the mortgage crisis, not helping Wall Street banks.
Look, I wasn't for this rescue, but I kind of knew what it was about...shoring up the banks.
If Senator McCain didn't know that, he shouldn't have voted for that...maybe he should have read that.
Because he is smarter than this, and the verbal gymnastics that rival anything John Kerry was ever for before he was against...way, way before this.
Not that Barack Obama's positions are any more encouraging...but they are consistent.
I don't like the left-leaning, spread-the-wealth approach, but it's a consistent approach and the Democratic nominee has never veered from it.
You can accept him and his views or not.
With John McCain I’m not so sure.
But I am sure I'm not the only one confused.
...confused by a man who says he hates government spending, but supports pushing $300 billion to bail out folks behind on their mortgage.
You can't say you're against earmarks when you're earmarking that kind of dough, Senator.
Or adding more than $50 billion to a stimulus plan you cannot pay for...all the while blasting your opponent for coming up with programs he can't pay for.
Frankly, neither of your numbers adds up.
But I’ve come to see a consistent pattern in Obama's.
For the life of me, Senator Straight Talk, I see no such straight thing with yours.
Obama argues big government and spells out why we need it...accept it or reject it.
You rail against big government, yet continue to push cockamamie spending plans that make a mockery of it.
That's why you're losing right now, Senator McCain.
Not because you don't have the courage of your convictions.
But because on economic matters you apparently don't have convictions, period.
FOX Translator
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No, it's not a dance craze. Contago is a condition of supply and demand, essentially a fancy word to say that prices for items, typically commodities, are cheaper now than they would be at some point down the line.
Anything that¿s sold in the futures market can be in a case of contango. Futures are exactly that: a contract to buy an item or asset at a price in the future. This is the case with oil, with traders buying and selling contracts to acquire a barrel of oil in months down the line. When a market is in contango, spot prices, or the price of a commodity if you were to buy it right now, are lower than forward prices.
Why is that important? Well, it usually tells you the supply of a given commodity is plentiful (since, according to Economics 101, a large supply usually leads to cheap prices).
Incidentally, if you think contango is a mouthful, its opposite condition is known by the equally tongue-tying term backwardation.






