Guest Blogged by Jon Ponder of Pensito Review...

Telegraphing panic over the economic crisis to his fear-addicted followers, John McCain has announced he is suspending his campaign and that he wants to delay the debate Friday night, according to Washington Post...

It's not as if John McCain has announced any sort of definitive measure to resolve the crisis that he needs to be in Washington to push --- or that he has a record of providing leadership on the economy in the past. (Quite the opposite, in fact. He was an advocate of the deregulation that underlies the failures.)

More importantly, if John McCain can't juggle a debate with Barack Obama while simultaneously working on the economic collapse, how can he possibly handle the multiple world crises that inevitably come with the presidency?

It's likely that what's really going on here is that the campaign has seen some dire polling numbers --- today even the new Fox "News" poll shows Obama support widening nationally, with a full 6-point lead, 45% to 39%, beyond the poll's margin of error --- and they want to push the debate forward, with the hope that the issues that are dragging him down have turned around.

(Please note, however, in re: the Fox "News" poll released today, FNC's "Fox News Polls Home" on their website currently ledes with a headline screaming that "McCain Leads Obama 45% to 42%". Click on that top headline, and one finds that it's headlined Sept. 10. Guess they're in no rush to update their polls page for some reason.)

(Hat-tip Richard Blair at All Spin Zone.)

Guest Blogged by des...

Nouriel Roubini, RGE Monitor, who accurately predicted the current economic crisis: "Last week we argued that, with the nationalization of Fannie and Freddie, comrades Bush, Paulson and Bernanke had started transforming the USA into the USSRA (United Socialist State Republic of America). This transformation of the USA into a country where there is socialism for the rich, the well connected and Wall Street (i.e. where profits are privatized and losses are socialized) continues … with the nationalization of AIG."

Atrios: "The entire financial system is practically collapsing and they're lamenting the possibility of more regulation...People who prattle on about 'the free market' are usually too stupid to have a clue how complicated and pervasive the "rules" had to be to to get a well-functioning modern market system: sophisticated concepts of contracts and enforcement, property rights, legal entities, proper accounting, bankruptcy, limited liability, etc... etc..., did not descend from the heavens but were, in fact, created."

Matt Yglesias: "Who knew the 'Washington Consensus' would die in Washington, DC under a Republican President in a mad fit of bailouts and nationalizations?"

Tom Toles: