Jonathan Chait Explains Why Santorum Can Win

February 15, 2012

Jonathan Chait, the pugnacious liberal political reporter for New York magazine, make a smart argument that Rick Santorum is maybe sort of electable.

As hard a time as Santorum would have closing the sale among certain moderate quarters, I don’t think it’s sunk in quite how poisoned Romney’s image has become among downscale voters. Coverage of Romney’s wealth, corporate history, and partially released tax situation coincided with, and almost certainly caused, a collapse in his support with white voters with income under $50,000.

He actually has an ability to attract swing voters, of a certain stripe:

In fact, there are, very roughly speaking, two kinds of swing voters. One kind is economically conservative, socially liberal swing voters. This is the kind of voter you usually read about, because it’s the kind most familiar to political reporters – affluent and college educated. But there’s a second kind of voter at least as numerous – economically populist and socially conservative. Think of disaffected blue-collar workers, downscale white men who love guns, hate welfare, oppose free trade, and want higher taxes on the rich and corporations. Romney appeals to the former, but Santorum more to the latter.

This is exactly right. The Reagan caucus of the eighties. Santorum doesn’t identify with the political overclass.  Romney does and so does Obama. To many Americans, even some who don’t totally share his socially conservative views, he can be seen as “one of us”, not one of them.

President Donwgrade: White House Downgrades 2012 Jobs, Economic Forecasts; Cites ‘turbulence’

September 2, 2011

No word on the truth OBAMMUNISM … It’s all on purpose.

The Obama administration downgraded its forecast for economic growth Thursday, predicting turmoil in the economy will likely keep unemployment above 9 percent through next year’s election.

The unemployment rate is considered to be one of the most important factors in presidential elections, so if the White House’s assessment holds, President Obama is in for one of the toughest reelection fights in memory.

When the “substantial” economic “turbulence” of the last two months are considered, the administration expects the economy to grow as little as 1.7 percent in 2011 compared to last year. That is down from a rosier projection of 2.7 percent growth, made in February.

The Hill reports.

Yes, Obammuinsm, substantial headwinds from Big Government.

Fox News Poll: 51% Expect Major Political Uprisings in U.S. in Next Ten Years

September 2, 2011

Most American voters think the U.S. political system is broken, and more than half think major political uprisings like those recently seen elsewhere around the world are likely to happen in the United States in the next decade.

These are some of the findings from a Fox News poll released Thursday.

Less than a quarter of voters (22 percent) think the U.S. political system is working the way it is supposed to work with different sides fighting hard for what they believe. Most — 74 percent — say the system is broken and gridlocked.

Democrats (82 percent), independents (71 percent) and Republicans (67 percent) alike say the political system is broken.

Click here to see the full results of the poll

How The Economy Quietly Entered A Recession On Friday, And Why The GDP Predicts A Sub-Zero Nonfarm Payroll Number

August 31, 2011

Is the world economy ready to hit the big red button.

The economy has entered the double dip recession on Friday last.

Zero Hedge reports:

While the key market moving event from last Friday may have been Bernanke’s Jackson Hole speech which merely left the door open to future QE episodes, the most important event from an economic standpoint was the first GDP revision Q2, which dropped from preliminary 1.3% to a sub stall speed, in real terms, 1.0%. What is just as important is that as the following chart from Bloomberg demonstrates, the YoY change in real GDP, which is now at 1.5%, is a slam dunk indicator of recession: “Since 1948, every time the four-quarter change has fallen below 2 percent, the economy has entered a recession. It’s hard to argue against an indicator with such a long history of accuracy.” Bernanke agreed that “growth has for the most part been at rates insufficient to achieve sustained reductions in unemployment.” And while Bernanke is shifting dangerously into Greenspan territory with the open-ended interpretation of his statement, another thing that is more actionable is the observation that virtually every time real YoY GDP has dropped below 1.5%, this has led to a negative nonfarm payroll number. Granted, the result may not be as shocking as what the Philly Fed implied vis-a-vis this Friday’s NFP, but we believe a subzero print in the August labor report will convince the three Fed holdouts that the time for yet another monetary intervention is here (Arab Spring part deux consequences be damned).


And lastly, sealing the deal for the “recession” argument is the following data from John Lohman which finds that the collapse in real-time economic data over the past three months is the sharpest in history.

To wit:

Another day, another disappointing real-time indicator declines AND is below consensus estimates.  In fact, every manufacturing index for the month of August has missed expectations and signaled further weakness.  As Bernanke, the IMF, and most Wall St. economists cling to the notion of a second-half acceleration, the rest of us are witnessing a deterioration in global growth which is unprecedented.

More here:

Obammunism: GDP Slows To An Anemic 1%, Down From 2nd Quarter ‘First Estimate’ of 1.3%

August 26, 2011

Hide the decline …

ANEMIC: Economic Growth Slows to Crawl, GDP Increase at 1%…

Q2 GDP revised downward to 1.0%

The U.S. economy grew much slower than previously thought in the second quarter as business inventories and exports were less robust, a government report showed on Friday, although consumer spending was revised up.

Gross domestic product growth rose at annual rate of 1.0 percent the Commerce Department said, a downward revision of its prior estimate of 1.3 percent. It also said after-tax corporate profits rose at the fastest pace in a year.

Economists had expected output growth to be revised down to 1.1 percent. In the first quarter, the economy advanced just 0.4 percent. The government’s second GDP estimate for the quarter confirmed growth almost stalled in the first six months of this year.

Obama And The Slow Learners …

August 25, 2011

Speak with pride about your record and accomplishments …

Slow learners, previosly it was Romney, now it’s shifted to Perry, same strategy different taget. It’s the problem you are faced with when your record of governiung is so dismal … And shall I say anti-American. Or do you think running up $4 trillion in debt in two and a half years is unpatriotic, as Obama called Bush’s 8 year $4 trilliong in debt.

An article at Politico explained:

Barack Obama’s aides and advisers are preparing to center the president’s reelection campaign on a ferocious personal assault on Mitt Romney’s character and business background, a strategy grounded in the early-stage expectation that the former Massachusetts governor is the likely GOP nominee. [Emphasis added]

Granted, it’s an odious strategy, informed by the most cynical brand of political gamesmanship. And it’s that much more obscene coming from a man who promised to transcend the old ways of Washington and deliver the nation into a new era of post-partisanship.

What you gonna do when your record is so stinky everyone can smell it.

Aren’t you proud of Obammunism?

Russian Cargo Flight To Space Station Crashes

August 24, 2011

Sure wish we had a USA Space Shuttle …

(Reuters) – A Russian spacecraft supplying six astronauts aboard the International Space Station failed to reach orbit on Wednesday and burned up in the atmosphere, its debris crashing in Siberia, Interfax news reported.

“The cargo spacecraft Progress, which did not reach orbit, crashed on the territory of (Russia’s) Altai republic,” Interfax quoted a local law enforcement source as saying.

The agency earlier reported a space industry source as saying that an “emergency situation” had arisen shortly after the cargo ship’s launch from the Russian-leased Baikonur launchpad in Kazakhstan at 1300 GMT (9 a.m. ET) on Wednesday.

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