OBSERVATION: President Obama? Arrrrrrgh!

For those following my writings, you know I have consistently indicated that Barack Obama was not electable. In most cases, I added an escape clause – a great big “UNLESS.” The “unless” came in two versions. First, unless John McCain commits an enormous blunder, which is always possible. Second, unless there are dramatic events that alter the anticipated normal voting patterns.

Well … now I am nervous. Yeah, I would consider the economy dramatically tanking on the eve of the election an event that can shatter the “anticipated normal voting patterns.”

Events of recent days are shaking up the foundation of my theory that Obama is unelectable. First, we are in the grips of a true financial crisis. The long anticipated housing bubble burst has arrived and the over extended credit markets are grid locking.

Now add to this mix that the dive in the economy is due to greed and financial shenanigans by a lot of office holders, and you can see why the electorate is running scared – and angry. Sure, a lot of blame rests with past Democrat policies and the current Democrat Congress, but the knee-jerk blame is easily affixed to the encumbent in the White House -- and his political party.

This is never a good situation for the “ins.” While the crises is significantly short of the Great Depression, the willingness of the “outs” to draw the comparison for political advantages is both despicable and understandable. It is the equivalent of falsely yelling “fire!” in a crowded theater.

Like most economic crisis, fear is as damaging as reality – and can become a self-proving prophesy. The crisis creates a Hobson’s Choice for the electorate. Truth be known, they would probably prefer to scratch off both Obama and McCain as their choice to lead us out of the economic chaos of the moment. But … the voters must pick between the candidates at hand.

Which is perceived as the less bad choice? Common sense would say Obama. Troubled times are the fertile ground for the glib salesman who just arrived in town with a wagon load of snake oil as the cure for the maladies the town doctor was unable to cure. He is flash and dash -- style over substance.

The economic crisis has warped the campaign universe. At the very time the traditional GOP surge was rising, and the “Palin effect” was kicking in, the economic sputtering reversed the polarities, and suddenly Obama has moved ahead. This is significant at this stage of the game. State-by-state, Obama garners enough electoral votes to be the next President.

This does not mean the game is over for McCain. The economic crisis will not be over by Election Day. In fact, it may be worse. There is no “good news” scenario that will restore McCain’s momentum.

However, Obama is a guy the majority of the electorate would like to vote against. McCain must show the nation that despite his membership in the blamed party, he has both the will and the ability to address and resolve the economic mess. He has only days to show the American public that has the experience, the resolve and the right solutions to revitalize the economy. So far, he is not making made a convincing argument.

There is lies the other issue. McCain is screwing up. If you have read past blogs, you know I never thought he was the best candidate for the GOP by a long shot. For me, he has only become the best option between two very bad choices. He has proven to be as bad a candidate as I feared.

Seventy-six years ago, this nation descended into economic hell. In their fear, the people turned to a great orator, Franklin Roosevelt, an urban political machine politician who believed in the pre-eminence of government as the source of personal freedom. This man brought America as close to dictatorship as any time prior or since. He infused the neo socialism that continues to this day as a virus in the body politic. Upon is death, the Congress, recognizing the danger, swiftly passed a Constitutional amendment limiting the terms of presidents to eight years. It took thirty-five years for this nation to largely recover from what was known as the “New Deal.”

Now we again stand on the precipice of seeping socialism – driven by the same kind of fear that brought us to the paternalistic socialism of Roosevelt. George Bush, the democrat Congress and our two presidential candidates have found common cause in applying the feel good socialist band aid rather than the more painful but effective free market cure. We have choosed to treat the symptoms of economic and political cancer while ignoring the spreading disease.

All this has changed the game. For the first time in more than a year, I have to admit that Obama is now electable. It is not a foregone conclusion, but it is now very possible. I do not think it will be as overwhelming as the current polls show, but it is possible.