September 10, 2012
'It isn't the economy, stupid'
Niall Ferguson, writing at the Daily Beast, wonders why Obama is winning: First, the economy. It's growing at a lousy 2 percent. Unemployment is stuck above 8 percent. Manufacturing just contracted for the third straight month. Consumer confidence is sliding. Nearly 47 million Americans are on food stamps. And we're heading for a fiscal cliff. Now, the polls. According to The New York Times, President Obama is set to win 51 percent of the popular vote and 311 electoral college votes, including those of key swing states like Colorado, Florida, Iowa, New Hampshire, Nevada, Ohio, Virginia, and Wisconsin. He has a 3 in 4 chance of being reelected. If Mitt Romney were the kind of guy people felt sorry for, you'd feel sorry for him. So what's the explanation? I can think of four possibilities. Explanation one: I am lying to you. The economy is doing great. [...] Explanation two: People aren't telling the truth to the pollsters. The deciding factor in this election will be whether...(Read Full Post)