Allahpundit gets it:
What's the way out? An Ayers/Wright offensive simply isn't going to hack it; even I can't be bothered with it today between covering my face and peeking through my fingers at the sinking Dow. A sustained attack on the left over Fannie/Freddie will help, but I don't know how you push that message through to low-information voters with the time left. It seems unlikely in the extreme that people who don't follow this from day to day are to going react to a meltdown on Wall Street by electing the guy from the party commonly derided as a pawn of big business. On the contrary, the worse things get, the better The One's vacuous rhetoric sounds. After all, what surer tonic could there be for a looming depression than Hopenchange? Pricetag: $5 trillion. Horrifying exit quotation from an unnamed McCain advisor suggesting they're ready to give up: "If we keep talking about the economic crisis, we're going to lose." Note to Team Maverick -- you have no choice.
McCain is almost certainly going to lose this election. He can go down trying to talk about the issues that voters actually care about, and trying to make some headway in the debates that are going to dominate our politics for the next few years, or he can go down trying to change the subject. I really don't see any percentage in the latter.