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Posts Tagged ‘Barack Obama

Chris Rock on Obama and McCain

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From Chris Rock’s HBO special Kill the Messenger

Colourful language; you have been warned.

Written by homoeconomicusnet

October 24, 2008 at 7:47 pm

McCain and Obama the Comedian – Al Smith Memorial Fund Charity Dinner

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I think McCain has a back up plan if it does not work out on November 4.

[Removed by YouTube]

At the Al Smith Memorial Fund Charity Dinner 16 October 2008.

Obama did not do bad either:

[Removed by YouTube]

The whole thing can be seen in the video below. Trust me the humours speeches by John McCain (6:45 his speech starts) and Barack Obama (23:00) are worth listening too – just get past the introduction.

Written by homoeconomicusnet

October 20, 2008 at 12:08 am

Powell backs Obama

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Profile of Colin Powell click on photo

Profile of Colin Powell click on photo

The moderate Republican backs Obama; and states that one clear defining reason was the choice of Sarah Palin as Vice President; someone without the experience for the White House and the nature of the Republican negative personal campaign against Obama. Obama stood out as the transformational candidate needed for the next four years, with a plan for the economy:

I found that [McCain] was a little unsure of how to deal with the economic problems that we were having. Almost every day there was a different approach to the problem. And that concerned me.
I was also concerned at the selection of Governor Palin. She is a very distinguished person and a she is to be admired. But at the same time, now that we’ve had a chance to watch her for some seven weeks, I don’t believe she is ready to be president of the United States, which is the job of the vice president. And so that raised some question in my mind as to the judgment that Senator McCain made. …

I watched Mr. Obama… he displayed a steadiness, an intellectual curiosity, a depth of knowledge and an approach to looking at problems like this, and picking a vice president that I think is ready to be president on day one. And also not just jumping in and changing every day but showing intellectual vigor. I think that he has a definitive way of doing business that would serve us well. [source]

By gaining the right of the party it is conceivable that McCain lost the moderates – the question is how many of them in the key battleground states?

My earlier predictions – back in March – was that the lead Obama had would start to fall from mid October onwards. The danger of that is that the opinion polls exaggerate Obama’s lead as well. It means the gap he has on McCain is not what it appears. Sure enough from the 13th to 19th October Obama’ lead has dropped from 8% to 5% (on average in the polls).

However, that matters only in so far as it impacts on the electoral college – that is the value of the states (by population roughly) given to the winning candidate with the total 270 getting you to the White House. According to RealClearPolitics Obama/Biden have 286 without taking the toss up seats into consideration; with only Colorado at 6% lead for Obama being the most marginal state of that 286 with 9 electoral votes. Take it away leaves room to spare at 277.

McCain would have to come back and take Virginia (13 votes) which is Obama’s with a 8.1% lead. Now I have said that the margin for error will be 3-6% nationally skewed in favour of Obama. Even allowing for the top end and evenly in all states that means McCain needs a 4% bounce back.

You have to consider this: that 286 count does not include Florida (27) and Ohio (20) which are too close to call. The good news for McCain is that Florida is moving away from Obama. Bad news is that Obama still leads by over 3.2%.

Here then is something for you to ponder. Some right wing Republicans were saying that they would stay at home as McCain was not the right sort of Republican. With Colin Powell supporting Obama this may give them cover to say that they need to support McCain. It may well be a testament to how far McCain pandered to them that Powell has endorsed Obama. Powell will shore up Obama’s already committed supporters – it may however not dragged anymore Republicans. It could be a warning shot across the bows that they will loss the White House for 4 years. Maybe even 8 years, to a transforming President. Which must sound like a liberal nightmare to them.

It will be interesting to see how the polls react. It gives Obama some cover from the lack of experience charge. It may however make the Republicans realise that loosing Michigan is the least of their problems when loosing Colorado means the jig is up in an every increasing long odds on McCain making a big enough come back.

His only hope is that the polls are seriously wrong. Or students do not vote. But when economists start doubting you then it may well be that the battle is all but lost till the rout at the ballot box. The odds are lengthening, McCain needs not just a bounce back but polls to be wrong, and people hiding their true intentions at the ballot box.

Two weeks and a day to go to find out.

Written by homoeconomicusnet

October 19, 2008 at 10:00 pm

The Third Presidential Debate

with 2 comments

McCain had the best line in the debate:

I am not President Bush, if you wanted to run against George Bush you should have done so four years ago.

I am surprised that he did not go for a further blow by pointing out Obama was not a member of Congress if he had wanted to run – echoing Hillary Clinton’s remark that all Obama did in 2004 was give a good speech. Instead we heard a lot about Joe the plumber and what the polices of the two contenders would mean for him on health care and tax.

The final debate was at Hofstra University in Hempstead, New York
The final debate was at Hofstra University in Hempstead, New York

Obama showed himself unflappable, not allowing himself to go off message or make a gaffe. McCain went for it more, and this was his best performance. However he allowed his temper to show, with a thin skin in the negative aspects of the campaign and his incessant blinking when he was giving a rehearsed debating point direct to camera looked like it was not natural to him. Obama is more able when doing to camera pieces. In fact some remark he is too calm, almost cool. An ability to empathise while remaining the ice man.

Yet fears of recession – with fears of a slow down in China – wiped out the recent gains in the stock market. That will probably have more of a bearing on the election than the debate tonight. McCain made the distinction between himself and Obama. McCain needed a clear plan for the economy when the crisis happened – however over the past three weeks he has failed to deliver. He needed not only to stand apart from Bush but be the man with a plan.

What was a telling difference between Obama and McCain was Obama saying that McCain would have the failed economic policies of the last eight years while he represents change prioritizing on what needs to work, while McCain saying that he is no George Bush but he has a longer record of bi partisan approach for change and knows how to do it- and would freeze all spending then line by line go through government spending.

Which message voters responds to will decide the vote. But if people draw distinctions between McCain and Bush expect him to have a bounce back in the polls. If McCain can deliver a critique on economic policy and how he can change it for the middle class he could regain the initiative

The thing is Obama looks like the real thing when it comes to change. Tonight McCain played on the big government liberal spender image of Democrats, and that Obama did not have a record to back up the leadership qualities for the Presidency – including taking on your party, and leading the charge for change.

The last two debates Obama has won; narrowly in the first, clearly in the second. This last one I would say a tie. McCain came out swinging with his heart on his sleeve. He has given a good reason for the Republican base to come out and vote for him. Obama responded clearly and thoughtfully, taking odds with McCain rejecting vocuhers in education and stating that a tax credit for purchasing health care would collapse health care provision.

Written by homoeconomicusnet

October 16, 2008 at 4:25 am

Prelude to the Final Presidential Debate

with one comment

I never had this much interest in the decision that Americans faced when voting for the President then now. In part that is due to the Bush years, which placed loyalty to friends before responsibility in office whether Donald Rumsfeld, Michael Brown at FEMA or nominating his personal lawyer Harriet Miers for the Supreme Court – “a pit bull in size six shoes” as he described her. Katrina came a year too late to blow Bush out of the White House; he has never recovered from that. Guantanamo Bay, Abu Ghraib, New Orleans our words dominating the political legacy of the outgoing President.

While Bush did not deserve a second term I found it difficult to get excited by Kerry. He was unconvincing in how he was going to change things, while Bush had four years in office to point to as President. Right or wrong in his actions, in an uncertain terrified world people stuck with the devil they knew in the hope it may take one to tame and catch one; the devil they did not know was a flip flopper that gave a mixed signal. People did not want peace then, they wanted the enemies of America to know they would attack if provoked 100%.

Four years later Osama Bin Laden is still free to mastermind, and the Al Qaeda franchise means that even with his capture splinter cells have the ability to cause mayhem. Short of John McCain appearing bruised and battered with a chained Bin Laden – “My friends, I got him!” – McCain needs a surge of his own in battleground states to all go his way to defeat Obama. Spoilt ballot papers confusing Osama/Obama  will not be enough. Doubt that Obama has the seasoning to do the Commander in Chief role may.

Which brings me back to why this election matters for me. Obama is the man that could have taught Martin Luther King in the art of public speaking, or that in an age of skepticism about politicians being able to change things and cynicism that they actually want to he is a breath of fresh air that threatens to blow through the stale odour of closed backrooms in Washington DC. Whether there is enough huff and puff to open the door and effect real change is debatable.

There is nothing beyond the rhetoric that points to Obama being able to do those things. He inspires, and his ambition to always be on the way to the next level can go no further then President of the United States. The only place left is a legacy, and if your ambition is to go beyond the admiration held for Abraham Lincoln, the question is whether Obama has what it takes. The problem is that we will only know that when he is in office.

McCain though is someone I have long admired on this side of the pond – not least because he was reported on. He often criticised Bush, he took on the religious right in his party and his attitude to abortion was like my own – I may not like it but I like the idea of illegal abortions even less, and reproductive issues are between a patient and a doctor. On the economy he was for free trade, and on the environment he stood out.

However the McCain of 2008 now is a pale shade of the McCain of 2000. His political persona is like comparing the physical Michale Jackson of “Blood on the Dance Floor” with the one that did “Billy Jean”. The transformation is unnatural, and what you once admired has disappeared in artificial layers, as the beat changes to the rhythm of the religious right. Blame it on the bogey; to get the gig he had to dance to their tune.

The campaign has shown that she is a pitpull but not a leader of the pack
The campaign has shown that she is a pit pull but not a leader of the pack

Picking Sarah Palin as the Vice President demolished any lingering respect for McCain. At 72 it would only be right to pick a heavy weight  – he owed that to the American people. Instead he picked someone with over a years experience as a Governor and no knowledge of the economy and foreign affairs. Her folksy glamorous style to motivate the Republican base and appeal to women was about spin and not substance. Had there been a shorter time between choosing her and Polling Day she may definitely given him the White House. Under media scrutiny she has come across as a rabbit caught in the headlights, a pit ball with lipstick trapped in the cross hairs.

Hitchens makes the point that character is a political issue. On that score McCain has looked like someone wondering around having forgotten what he stood for. He cancelled his campaigning to resolve the financial crisis in the Senate. The result was the majority of Republicans were against the measure. It was a real test of his ability to lead, and he fell down.

In the last debate he was restless, a bewildered look in his eyes that people would consider anyone but him for President. Obama was poised, dignified and calm – a rock in a stormy sea. He toned down the professor lecturer, and became a statesman ready to do the job. McCain looked like he was ready for his medication.

If I was McCain, I would point out that Obama is Europes Choice, but AMerica needs someone that will always stand up for the American interest
Berlin, Germany. If I was McCain, I would point out that Obama is Europe’s Choice, but America needs someone that will always stand up for the American interest. Only US voters count November 4 2008

McCain really needs a knock out blow. At the moment Obama has an average lead of 8% in the polls. Very close to the lead I predict he needs of 10% by mid October to assure himself of the Presidency. Because I think the only way to go is down for Obama as it becomes his to loose and I think the polls exaggerate his current support. The real test is how so in the battleground states that analysis plays out. The problem for McCain is he needs a clean sweep of the toss up states to win – the 2% swing of itself is not beyond possibility. That needs stressing because though the final result may seem huge, the margins of victory that brought them about in key states may be minuscule in comparison. Every vote will count in those states and the Obama enthusiasm for getting out the vote may be what secures him victory. But the wind of change is blowing in Obama’s favour.

Iraq is an issue – yet the fatalities have been considerably less for US forces (under ten a month) and the murder rate for Iraq in 2008 looks set to be less than 2007. Put in perspective, Iraq is a little more dangerous for the population than for black people in America in terms of homicide [source]. McCain needs to tackle Obama about the surge, which together with support of Al Qaeda dropping in Iraq have played a part in the improving security situation.

McCain’s polling went down sharply while Obama’s went up after the second debate. Stuck behind a coffee table directly by your opponent, McCain has to come up with something in the third debate to turn things around. He cannot afford another dip. As polling day draws nearer the stay at home Republicans may turn up, having succeeded in making McCain have to appeal to them rather than undecideds and independents or slightly leaning Democrats. Should McCain loose, they will have to shoulder some of the blame – because having a candidate they wanted rather than the man they had meant McCain was diminished.

If only McCain had secured the Republican nomination instead of Bush in 2000. That was his time. The future now belongs to Obama.

OTHER BLOGS:

The Third Presidential Debate

The Second Presidential Debate – no second coming for McCain

Christopher Hitchens says vote for Obama

with 4 comments

WIll the prodigal son be welcomed back to the fold of the left? The maverick writer supports Obama:

Vote for Obama

McCain lacks the character and temperament to be president. And Palin is simply a disgrace.


Barack Obama. Click image to expand.

I used to nod wisely when people said: “Let’s discuss issues rather than personalities.” It seemed so obvious that in politics an issue was an issue and a personality was a personality, and that the more one could separate the two, the more serious one was. After all, in a debate on serious issues, any mention of the opponent’s personality would be ad hominem at best and at worst would stoop as low as ad feminam.

At my old English boarding school, we had a sporting saying that one should “tackle the ball and not the man.” I carried on echoing this sort of unexamined nonsense for quite some time—in fact, until the New Hampshire primary of 1992, when it hit me very forcibly that the “personality” of one of the candidates was itself an “issue.” In later years, I had little cause to revise my view that Bill Clinton’s abysmal character was such as to be a “game changer” in itself, at least as important as his claim to be a “new Democrat.” To summarize what little I learned from all this: A candidate may well change his or her position on, say, universal health care or Bosnia. But he or she cannot change the fact—if it happens to be a fact—that he or she is a pathological liar, or a dimwit, or a proud ignoramus. And even in the short run, this must and will tell.

On “the issues” in these closing weeks, there really isn’t a very sharp or highly noticeable distinction to be made between the two nominees, and their “debates” have been cramped and boring affairs as a result. But the difference in character and temperament has become plainer by the day, and there is no decent way of avoiding the fact. Last week’s so-called town-hall event showed Sen. John McCain to be someone suffering from an increasingly obvious and embarrassing deficit, both cognitive and physical. And the only public events that have so far featured his absurd choice of running mate have shown her to be a deceiving and unscrupulous woman utterly unversed in any of the needful political discourses but easily trained to utter preposterous lies and to appeal to the basest element of her audience. McCain occasionally remembers to stress matters like honor and to disown innuendoes and slanders, but this only makes him look both more senile and more cynical, since it cannot (can it?) be other than his wish and design that he has engaged a deputy who does the innuendoes and slanders for him.

I suppose it could be said, as Michael Gerson has alleged, that the Obama campaign’s choice of the word erratic to describe McCain is also an insinuation. But really, it’s only a euphemism. Anyone with eyes to see and ears to hear had to feel sorry for the old lion on his last outing and wish that he could be taken somewhere soothing and restful before the night was out. The train-wreck sentences, the whistlings in the pipes, the alarming and bewildered handhold phrases—”My friends”—to get him through the next 10 seconds. I haven’t felt such pity for anyone since the late Adm. James Stockdale humiliated himself as Ross Perot’s running mate. And I am sorry to have to say it, but Stockdale had also distinguished himself in America’s most disastrous and shameful war, and it didn’t qualify him then and it doesn’t qualify McCain now.

The most insulting thing that a politician can do is to compel you to ask yourself: “What does he take me for?” Precisely this question is provoked by the selection of Gov. Sarah Palin. I wrote not long ago that it was not right to condescend to her just because of her provincial roots or her piety, let alone her slight flirtatiousness, but really her conduct since then has been a national disgrace. It turns out that none of her early claims to political courage was founded in fact, and it further turns out that some of the untested rumors about her—her vindictiveness in local quarrels, her bizarre religious and political affiliations—were very well-founded, indeed. Moreover, given the nasty and lowly task of stirring up the whack-job fringe of the party’s right wing and of recycling patent falsehoods about Obama’s position on Afghanistan, she has drawn upon the only talent that she apparently possesses.

It therefore seems to me that the Republican Party has invited not just defeat but discredit this year, and that both its nominees for the highest offices in the land should be decisively repudiated, along with any senators, congressmen, and governors who endorse them.

I used to call myself a single-issue voter on the essential question of defending civilization against its terrorist enemies and their totalitarian protectors, and on that “issue” I hope I can continue to expose and oppose any ambiguity. Obama is greatly overrated in my opinion, but the Obama-Biden ticket is not a capitulationist one, even if it does accept the support of the surrender faction, and it does show some signs of being able and willing to profit from experience. With McCain, the “experience” is subject to sharply diminishing returns, as is the rest of him, and with Palin the very word itself is a sick joke. One only wishes that the election could be over now and a proper and dignified verdict rendered, so as to spare democracy and civility the degradation to which they look like being subjected in the remaining days of a low, dishonest campaign.

OTHER BLOGS:

Prelude to the Final Presidential Debate [Why I support Obama]

Christopher Hitchens on Palin

Written by homoeconomicusnet

October 14, 2008 at 11:27 pm

The Bashville in Nashville in tonight’s Presidential Debate

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Close your eyes, as the mud is slung

Close your eyes, as the mud is slung

One month to go and it is all out assault – Obama had biscuits with a terrorist on a charity board, and McCain helped out a financial swindler.

Barack Obama accused John McCain of “smear tactics” and said he was not paying enough attention to the economic crisis that has been gripping the US.

John McCain said Mr Obama was “lying” about his ties to the home loan industry and asked what his rival had ever accomplished in government.[BBC News]

Will this mudslinging go into tonight’s Presidential debate? McCain has stated that the gloves are off: “For a guy who has already authored two memoirs, he’s not exactly an open book”. Obama, making it into a prize fight for the White House stated: “We don’t throw the first punch, but we’ll throw the last”.

Yet the window dressing is not as significant as the movement in the polls. The BBC report above states that Obama is 6% ahead in Ohio in the Washington Post poll – a state which if Obama wins then the White House is his.

What the BBC does not mention is the range of polls for Ohio which are: [source]

Poll Date Sample Obama (D) McCain (R) Spread
RCP Average 09/24 – 10/05 48.7 45.2 Obama +3.5
FOX News/Rasmussen 10/05 – 10/05 1000 LV 47 48 McCain +1
ABC News/Wash Post 10/03 – 10/05 772 LV 51 45 Obama +6
Columbus Dispatch* 09/24 – 10/03 2262 LV 49 42 Obama +7
SurveyUSA 09/28 – 09/29 693 LV 48 49 McCain +1
Quinnipiac 09/27 – 09/29 825 LV 50 42 Obama +8
InAdv/PollPosition 09/29 – 09/29 512 LV 47 45 Obama +2

The average has moved up from a 2% lead to 3.5% [blog on battle states]. Yet the wide range with polls (two declaring for McCain) the data that we have suggests that this could be closer then people are letting us think. The result being that everything including the kitchen sink is going to be thrown at the opponent before this election is over.

Will Obama deliver the K.O. punch tonight?
Will Obama deliver the K.O. punch tonight?

The format of the debate is a town hall with undecided voters especially catered for in the audience. The usual political towing and throwing is likely to turn off such an audience, and in the economic problems and security issues the next President will face seem out of touch, if not surreal. In toss up states, undecided voters that decide to vote could sway the result – if they unevenly break for McCain (my prediction is they will) the battle states would be within grasp.

We want the candidates to be tested, not with quips against each other, but with substance on what will be their guiding principles in office and what they are going to do. The first may be more important than the later as by the time January 2009 comes along the economy may not give scope to the plans that they have.

I have said that by mid October a 10% lead in the polls would give Obama the cushion he needs for a Mccain bounce and the margin of error which I predict could be higher in the polls then they have been for sometime. On the eve of the debate the polls stand:

Poll Date Sample Obama (D) McCain (R) Spread
RCP Average 09/30 – 10/06 49.6 43.8 Obama +5.8
Reuters/CSpan/Zogby Tracking 10/04 – 10/06 1237 LV 48 45 Obama +3
NBC News/Wall St. Jrnl 10/04 – 10/05 658 RV 49 43 Obama +6
CBS News 10/03 – 10/05 616 LV 48 45 Obama +3
CNN 10/03 – 10/05 694 LV 53 45 Obama +8
Gallup Tracking 10/03 – 10/05 2744 RV 50 42 Obama +8
Rasmussen Tracking 10/03 – 10/05 3000 LV 52 44 Obama +8
Hotline/FD Tracking 10/03 – 10/05 909 LV 47 41 Obama +6
Democracy Corps (D) 10/01 – 10/05 1000 LV 49 46 Obama +3
GW/Battleground Tracking 09/30 – 10/05 800 LV 50 43 Obama +7

Tonight Obama needs to sound like a President – McCain has to land punches to make movement. The US (and the world) needs a leader not a political counter puncher. Yet Obama needs more than just words, he needs to show himself to be a man of action. Or else the lead he has will start to descend nearing polling day.

OTHER BLOGS:

Keating coming back to haunt McCain

Republicans pull out of Michigan – the toss up states matter

Written by homoeconomicusnet

October 7, 2008 at 1:59 pm

Keating coming back to haunt McCain

with one comment

The Democrats are responding to the negative personal attack ads of the McCain camp by calling attention to the Keating 5 Scandal, which led to McCain being rebuked on the Senate floor. Having e mailed supporters to see a new documentary on the website Keating Economics, available 12 pm Eastern. But it will be something like this:

At the heart of the scandal was Keating’s Lincoln Savings and Loan Association, which took advantage of deregulation in the 1980s to make risky investments with its depositors’ money. McCain intervened on behalf of Charles Keating with federal regulators tasked with preventing banking fraud, and championed legislation to delay regulation of the savings and loan industry — actions that allowed Keating to continue his fraud at an incredible cost to taxpayers.[ibid]

This, together with McCain not able to lead in the bipartisan attempt to get the $700bn bail out bill passed (without sweetners which is at the heart of what is wrong with American politics), may be a good tactic for the Democrats. Attacking with something substantive works as opposed to guilt by association.

OTHER BLOGS:

Republicans pull out of Michigan – the toss up states matter

Written by homoeconomicusnet

October 6, 2008 at 1:24 pm

Republicans pull out of Michigan – the toss up states matter

with 2 comments

Sarah Palin may be disappointed that they have left the state of Michigan. Yet with Obama having a 7% lead in a state that voted for Kerry and Gore, it makes much more sense for the Republicans to focus on the key battle states and take the resources from this state to those where it may make the difference. Namely:

Obama in Virginia

Obama in Virginia

State                     Electoral Count         Obama lead (%)

North Carolina      15                             0.5

Nevada                  5                               1.8

Ohio                      20                             2.0

Virgina                   13                            2.4

Florida                    27                            3.0       [source]

If the Republicans concede any of these states then McCain has lost the White House. Taking states like those above where candidates have a 3% lead or less gives Obama 264 and McCain 163 – to win all it takes is 270. Despite Obama having on average a 6% lead in the polls (ranging from 3% – 9%) it will be those marginal states above that decide it. If McCain can get a 1.5% swing to him from Obama he will win the White House.

As I think that the polls are over stating Obama’s lead and under representing McCain, it is still very possible for McCain to win the White House. It is tight, and giving up on States that Obama has a clear lead in may be the smart move.

What McCain cannot afford however is to loose any states he currently holds. The good news for him (unlike Obama) is that most states are solidly supporting him, with only two states being vulnerable:

McCain in Colorado - a swing state

McCain in Colorado - a swing state

State                     Electoral Count         McCain lead (%)

Missouri                11                             1.7

Indiana                  11                             2.2       [source]

So when people tell you it will be a landslide for Obama or a close run race the answer is that there is an element of truth. If all the toss up seats go as they indicate above then Obama wins triumphantly 353 to 185. But a closer race is well within the margin for error. Obama wins Flordia or Ohio and keeps the other states that strongly support him then it is game over for McCain.

If the polls are under representing support for McCain he has a good chance of a narrow win. All the states above that are for Obama voted for George Bush in both 2000 and 20004. That may yet be reflected as we get nearer to polling day.

So expect more things like Palin pointing out that Obama was on a charity board with a founder member of the Weather Underground (a terroirst organisation against US involvement in the Vietnam war) while campaigning in Colorado (leaning to Obama 4.4% lead but voted for Bush the previous two times). What the McCain camp hope is that if the election becomes about character McCain will win. With Obama in Virgina attacking McCain’s health plan we may yet see an ideological battle occur to against an economic meltdown backdrop.

The key thing will be getting out the vote in these states. If Obama supporters feel that it is a done deal they may be inclined to stay at home. That would be a nightmare on polling day when results show the contest closer then the media were calling it. Obama has shown that he can create the momentum. The thing is to keep it going and on election day deliver his supporters to the polling booth.

One thing which McCain and Palin may use in the campaign:

The positive component is pretty straightforward: McCain and Palin are common sense conservatives and proven reformers. The record of reform can be emphasized and contrasted with Obama’s and Biden’s record of conventional, go-along, get-along liberalism. And implicitly: If McCain and Palin are reformers and outsiders, it’s not Bush’s third term. More important is the negative message. The McCain campaign has to convince 51 percent of the voters they can’t trust Barack Obama to be our next president. This has an ideological component and a character component. [Weekly Standard]

Democrats keep the champagne in the fridge – instead keep drinking the coffee because you are going to have to bust a gut to make sure that Obama wins the key states above and not fall for the hype that is being generated. The time to relax is when the polls close, because it ain’t over till it’s over.

OTHER BLOGS:

Congress backs $700bn bail out – McCain ain’t dead yet

Congress backs $700bn bail out – McCain ain’t dead yet

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Could John McCain have pulled ahead, and distanced himself from Bush by opposing the bill?

Could John McCain have pulled ahead, and distanced himself from Bush, by opposing the bill? Polls have Obama leads 50% to 42% having gained during the crisis.

Despite a majority of Republicans being against the bill, it passed by 263 – 171. $100bn in new tax breaks helped move enough Republicans (101 still voted against 91 in favour).

It also included tax breaks to help small businesses and to boost alternative energy, expanded the child tax credit and extended help to victims of recent hurricanes. (BBC News)

Has John McCain lost a beat by not opposing the Bush plan? 45% of people oppose the plan, though a similar number say they are confused by it. The mood however seems to have been blowing in the we need to do something, this is something, therefore we must do it, at least on Capitol Hill with the sweeteners above sealing the deal.

Further financial instability would have started hitting main street, with businesses unable to get credit for the next business transaction or investment to increase production. The question though is that the bill by a way to stabilise the economy without rewarding the mistakes made by the banks.

In Europe however the situation could potentially be worse. In the US 96 cents was lent for every dollar in deposits. In Europe the figures are 1.40 Euros lent for every 1 Euro (The Economist). The only thing we can say is that the worse is not over.

It has only began. This may not even work. In the long run we are all dead. Economists are not the sort of people to always look on the bright side of life. The only thing we can hope for is that this measure calms the markets, makes the bank loosen up and let credit flow again to ease the monetary system.  It is bad enough with businesses lacking custom without their banks not providing finance for decisions, because of their bad loans and lack of funds.

Ultimately animal spirits of the movers and the shakers will decide if this measure succeeds or fails. With people flocking to Ireland with their savings with the government saying that it will guarantee all deposits made that reassurance needs to be global in nature.

It is time for governments of the world to show that globalisation is not just about the allocation of resources, but independent nation states working together on interdependent issues affecting the economy. A free for all could end up in being a free fall.

McCain ain’t Dead

He aint dead yet. Worse case scenrio it happens in the White House. An Obama landslide is premature

He ain't dead yet. Worse case scenario it happens in the White House. An Obama landslide is premature.

Meanwhile I have been saying that Obama needs to get to 10% by mid October to be safe from McCain making up ground in the closing stages of the campaign. With Gallup having him up by 8% and Rasmussen by 6%. Over the economic meltdown Obama has pulled ahead while McCain has floundered. Would Obama have followed if McCain had attacked the Bush plan? He could have appealed to Democrat leaning voters who are against the bail out. That decision may well come back to haunt McCain, even if he consoles himself that he was doing the right thing for America.

While Obama is on his way to victory, if his camp are really claiming that it will be a landslide that is premature. Victory yes, but in the closing stages McCain will come back  His support is underestimated while Obama’s is overstated – the only poll that counts will wither bear this out or not, the real question is by how much and whether McCain can come back in the final furlong.

With close states going to the current leader, Obama wins 353 to 185 in the electoral college that decides the Presidency (see blog linked below for explanation and how far this has moved from before the economic meltdown). However Obama has narrow leads in 85 of those votes. A 3% swing to McCain in those seats (well within margin of error) makes it 268 to 270 in McCains favour.

If Obama can keep Ohio worth (2.0% lead) worth 20 votes and Florida worth 27 votes (3% lead) then he will win. But calling it a landslide now is almost begging for my analysis to come and bite you in the ass. I want it to be true, but the numbers cannot be taken for granted. Just a 3% swing at the moment would out McCain in and that is so easily possible that if I was a Republican I would be making my base feel that they have to come out and fight while making Democrats feel they can stay at home in key states, it is a done deal.

Democrats need to be talking up the fight rather than being assured and complacent. It is there to be lost and will not take much. There is no prize for winning opinion polls and loosing the only poll that counts – the election. If McCain can get the Democrat controlled congress blamed for the current crisis …

OTHER BLOGS:

Obama 273 McCain 265 – which State will decide it?

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