10/13 Roundup: Failing McCain, Economic Time Bomb, Faulty Rumors

Leader: Failing McCain

- There's a growing sense that John McCain has lost control of his campaign and of this race. The GOP is freaking out after last week. Bill Kristol tells McCain to fire everyone. Republican strategists think the race is within reach for McCain... if he focuses all out on the economy, and renounces everything he's ever believed. Jonathan Alter writes that his pick of Sarah Palin was the first admission that he was totally out of touch with the Republican base. In addition to 53% of the electorate, history is also against McCain.

- The Democratic Strategist thinks Republican desperation will initiate in the "mother of all smear jobs." McCain may be gearing up, with his announcement that he's planning to "whip Obama's you-know-what" at Wednesday's debate.

- Walter Shapiro at Salon can think of four ways McCain might still win.

Economy

- The Independent describes the derivatives market as a time-bomb worth 10 times the value of total world output.  The bomb is going off, and nobody knows how big it will be.

- As Simon blogged yesterday, Nobel Prize Winner Paul Krugman says Gordon Brown and the UK have shown remarkable leadership in response to the bailout. 

- James Surowiecki explains the financial crisis as a "trust crunch." Cass Sunstein also points out the importance of psychology.

Election '08

- As DemFromCT at Kos reports, Obama is inching ever closer to a 10% lead across the board. Newsweek is saying the same. 

- John Heilemann writes in New York that Barack Obama found his voice on the economy just in time.

- Howard Fineman laments that it is politically impossible to suggest a bit of economic belt-tightening.  Writing for the New Republic, however, Robert Gordon and James
Kvaal see the possibility for this downturn to spark a reinvigoration of the civic spirit and a renaissance of civic duty.

- One of the most persistent falsehoods dogging Barack Obama is the rumor that he is a Muslim and an Arab.  The New York Times traces those lies back to one man.

- As McCain's rallies become increasingly unruly, race has begun to play a bigger role in the discussion surrounding the election. Andrew Romano at Newsweek writes that Obama's race might actually help him. Pollsters aren't sure what to do about it.

- Sarah Palin made the triumphant announcement that she has been cleared of all wrongdoing.  Not surprisingly, she was lying.

- Ryan Lizza, writing for the New Yorker, analyzes why Obama picked Joe Biden as his running mate.

- Last, Betty White talks to Craig Ferguson about her life as a McCain speechwriter.