Home > Jay Bookman > Archives > 2008 > September > 19 > Entry

In congressional races, a GOP revival?

The Gallup Poll recently reported that the GOP had largely closed the gap with voters asked whether they’d vote for a generic Republican or Democrat. I confess I dismissed those results as an outlier, but I can’t do that anymore.

The Politico now reports on a Pew poll basically confirming the Gallup results:

New polling suggests that the Republican Party is beginning to regain some of its luster and, perhaps as important, is experiencing a surge in excitement among its political base.

A new poll by the Pew Research Center for the People & the Press reports that independent voters have an equally favorable opinion of both parties, 50 to 49 percent, a one-point edge for the GOP. That compares to an 18-point Democratic advantage as recently as August, a wide gap that had generally held for more than a year.

I don’t know how to account for that — I’m sure some of you folks will have a theory. But it will be interesting to see whether that holds up in current economic conditions.

UPDATE: Gallup just released the latest update of its three-day rolling tracking poll: Obama up 5, 49-44.

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Comments

By "The Corporal"

September 19, 2008 12:25 PM | Link to this

JAY

Seriously, it is honestly refreshing to see this from you with no spin.

By Swami Dave

September 19, 2008 12:30 PM | Link to this

As one who usually looks at polls (or results or trends) with the opinion that things are usually neither as good nor as bad as they initially appear, I am not sure that these results say much more than this election will probably be close. Barring some extreme circumstance that favors one candidate over another, I am not sure that there are -that- many truly “undecided” voters out there.

Personally, I would pose the theory that this simple fact (very close - small popultation among those truly “undecided”) is the major cause that campaigns tend to get more and more vitrolic. As competition for a shrinking resource (“undecided voters”) increases, those in competition for them begin to act in more and more extreme fashion to motivate / convince.

So Jay, what theories might you suppose?

-Swami Dave

By Wyld Byll Hyltnyr

September 19, 2008 12:32 PM | Link to this

Jay, Jay, Jay, I’m here for your wetnursing section on the Democratic party. Here is why the generic gap has closed:

1) The Democratic controlled congress is a do nothing bunch that has the lowest approval rating of political body in the history of mankind. Even the Stalin Politburo had a higher approval rating in what was a repressive society. 2) Democrats root against America - Stuff like the “war is lost”; and denial of the sucess of the surge long after its success was a generally accepted facts 3) Obama’s outward ambivilence toward America - who can doubt than he rather makes speeches to the eurotrash humanists than spend time with those small town persons who, in their bitterness, cling to G-d, guns, and their antiopathey toward others 4) The reaction to Gov Palin has made it clear that the primary cause of the partisan log jam in American politicals is the towering and unbroken intolerance of the hard left. 5) Disappointment to dicover that Obama, who said he was going to end partisan politics, is no different that any other politician (which see recent name calling) and, in fact, one of the most partisan politicians that ever existed, soldier in the Daly machine, always votes most liberal, etc…

Contrast that with a Republican party that is no where near so ideologically frozen, a fresh newcomer like Sarah Palin, and the need for a steady hand like McCain and its no wonder things are swing back to the right.

By RW-(the original)

September 19, 2008 12:36 PM | Link to this

Jay B,

When 75% of the country wanted to increase domestic energy supplies through more drilling and the Democrat response was to go on vacation for five weeks it couldn’t have helped their image. The problem is that these polls don’t mean much because a voter may say they aren’t happy with the rest of the Democrats, but their guy/gal is alright. The latest district by district polls I’ve seen don’t reflect this big shift.

Although saying they don’t know what to do for the financial markets except go home again may just push this the rest of the way.

By Mike

September 19, 2008 12:42 PM | Link to this

Of course you don’t know how to account for it. You live in a partisan bubble.

A big part of the problem for Democrats (and their mouthpieces in the media) is that their absurd blame of the GOP for everything created the expectation that the Democrats would fix all of the “problems that would be so easy to fix if the GOP wasn’t so evil and dumb”. If course, these expectations were not met, as we learn that not all of the world’s problems can be laid at the GOP’s feet exclusively.

Second, a lot of GOP popularity was held down by the slow progress Iraq War and the partisan cheerleading against our efforts then. Despite the media’s unwillingness to report on Iraq any more and the refusal of the surge’s critics to admit how wrong they were (hint hint), Americans see the possibility of success in Iraq and they remember who wanted to retreat.

Finally, the average American is appalled by the performance of the media lately, and despite what the partisan left believes, the media is dominated by the partisan left. Poll after poll shows this utter contempt of Americans to our media, and the backlash against their candidates is inevitlable.

General Trust

The 20-year trend of public dissatisfaction with the press showed few signs of reversing course in 2007.

Majorities of Americans continued to say that journalists are often inaccurate (55%), do not care about the people they report on (53%), are biased (55%), one-sided (66%) and try to cover up their mistakes (63%). Those sentiments, all more prevalent than in the 1980s, have become entrenched.

http://www.stateofthenewsmedia.org/2008/narrativespecialattitudes.php?cat=1&media=13

By CJ

September 19, 2008 12:46 PM | Link to this

I know precisely how to account for the fact that independent voters have an equally favorable (or unfavorable) opinion of both parties:

Step 1: The House of Representatives passes legislation after legislation after legislation.

Step 2: Republicans in the Senate filibuster such legislation (Senate Republicans have crushed all previous filibuster records) including legislation they support (Senate Republicans sometimes filibuster a bill, lose the cloture vote and then vote for the exact same legislation they sought to filibuster a few minutes prior).

Step 3: Republicans, thrilled with the perception they’ve created, campaign that the Democratic-led Congress is a “do-nothing Congress” or has a “do-nothing Senate”.

Step 4: Low-information independents (yes, it’s redundant), many of whom have no idea what a filibuster is or how it works, blame Dems in Congress for not getting more done.

On this matter, the media is silent, and therefore, complicit. On this matter, a large swath of the electorate is deliberately ignorant, and therefore negligent.

By Wyld Byll Hyltnyr

September 19, 2008 12:48 PM | Link to this

Sorry, but I forgot to mention that the disengenuous Deomcrat leadership just put forth a energy bill that was intended to look like it would support drilling, but actually did not. Just as Gov Palin (sigh!!!, in a dreamy way) said that we don’t like a politician who says one thing to our faces in Scranton and anohter behind our backs in San Francisco, we do not like a party that says one thing about an important step toward energy indepence and then writes a bill that does something else.

By AJC/DNC Management

September 19, 2008 12:48 PM | Link to this

To which Hairy Reed says:

‘No One Knows What to Do’

bwa

By "The Corporal"

September 19, 2008 12:55 PM | Link to this

Jay

I just saw this: Fiscal Conservatism - R.I.P.

By CJ

September 19, 2008 12:58 PM | Link to this

Wyld Byll Hyltnyr said, “The Democratic controlled congress is a do nothing bunch…”

RW said, “When 75% of the country wanted to increase domestic energy supplies through more drilling and the Democrat response was to go on vacation…” (Note: The House passed extensions of clean energy tax credits and Senate Republicans filibustered such extensions—and then went on vacation to complain about the “do nothing bunch”.)

As I said…low information voters.

By Wyld Byll Hyltnyr

September 19, 2008 1:03 PM | Link to this

Ok, CJ name five bills that were philibustered. Looks as if you may a mis-information voter.

By Sherry

September 19, 2008 1:11 PM | Link to this

Our economy is going to hell in a handbasket. The high cost of fuel directly affects every consumer product. Between emptying the wallet at the pump and checkout line at the store there is little left over for savings or investing. Jobs and homes are being lost at an ever increasing rate. WE need to get out from under our dependence on foreign oil We need to utilize natural energy such as wind and solar. We need to use every technology we have such as v2g, genrative braking, hybrid and elec car technology. Interesting book coming out soon called The Manhattan Project of 2009. By Jeff Wilson

By RealityKing

September 19, 2008 1:21 PM | Link to this

What has our 110th Congress done Jay? Were you guys really expecting a standing ovation!?

By getalife

September 19, 2008 1:25 PM | Link to this

While the rest of the so called leaders are coming together, McLiar is still spewing divisive lies blaming Obama for McLiars deregulation mess.

Its Keating 5 again stupid.

It is sickening Americans buy into his bs.

Somebody should tell that kook it is time to come together.

Country first?

BS.

By Midori

September 19, 2008 1:26 PM | Link to this

The Real Story of the 110th Congress: The Right-Wing Block-And-Blame Game

A record-breaking campaign of obstruction was waged by the Republican minority in Congress during the 110th Congress to keep the Democratic majority from enacting legislation sought by the American people. Their strategy of “block and blame” has driven the perception of a “do-nothing Congress.” In reality, the 110th Congress would have achieved truly landmark accomplishments—including safely bringing the troops home from Iraq, reducing America’s dependence on foreign oil and its contribution to global warming, and funding long-neglected domestic priorities—had it not been for conservative obstruction.

Our July 2008 update to our earlier block-and-blame analysis cuts through the political spin. We document how what is being reported as political stalemate is really the product of a conservative political strategy, both in Congress and the White House, to sabotage the new majority in Congress as it responds to the mandate it received from the American public—even if it means bringing down public support for the entire Congress in the process.

Get the full story:

By sunshine and thunder

September 19, 2008 1:34 PM | Link to this

The reason is the news that has come out in the last few days about the Democrats management of Fannie and the news that Mr. Obamassiah was number three on the list of recipients of skin money from that same institution.

These day when you talk about corrupt big money you have to include the GSE’s Fannie and Freddie, labor unions, George Soros, MoveOn.org and Hollywood.

By RealityKing

September 19, 2008 1:37 PM | Link to this

On second thought…, I guess it’s really not that surprising that the liberal media chooses to overlook the worse Congress in American history, the one they help elect, to wonder why EVERYONE doesn’t share their progressive hate for traditional values.

By getalife

September 19, 2008 1:43 PM | Link to this

Who’s Whining Now? Gramm Slammed By Economists

It was McLiar and Gramm and they should be held accountable and not elected for anything.

By rightytighty

September 19, 2008 1:53 PM | Link to this

I’m rooting for Obama! And an end to progressive America that his tax and spend ideology will finally bring under the Harry and Nancy show..

Palin/Bush(George P.) 2012-2028!!

By Dennis

September 19, 2008 1:53 PM | Link to this

Maybe we could begin to understand these polls, if we look at who has done something and who has done nothing. Just a few possible influences: * Congress took a recess, Republicans stayed to push for oil exploration within US territories. * Sarah Palin was nominated and accepted the VP slot. Thank you John McCain. * The Democrat/Media Attack Squads directed all their efforts at Palin. * Palin and, just as importantly, McCain stood firm against these attacks. * Congress come back and Democrats pushed through the House a “fake” energy bill. * Congress took a quick look at investment and finance problems and even more quickly took another recess.

By Wyld Byll Hyltnyr

September 19, 2008 1:53 PM | Link to this

Midori - looks like you are taking a page from the Biden playbook with your plagarism from the discredited ourfuture.og - as with most Democrats, have you no shame?

CJ - figgered you’d keep your trap shut, because you have mindlessly parotted talking point lies. Pelosi and Reid lied and peoples jobs were fried.

Viva La Bush Revolucion

By Bosch

September 19, 2008 1:54 PM | Link to this

getalife,

Gramm gave the fox the keys to the hen house.

Sick.

By Swami Dave

September 19, 2008 1:56 PM | Link to this

I’m not sure, but I think from looking at the other responses - I can rest my case.

Our situation appears to be two opposing views that on point look to have near equal support and few, if any, others who are “undecided”. The shortage of “convincable” people have reverted our political process to a pair of competing idealogies / groups who replace bomb-throwing for dialogue. It is almost like watching two groups of children throwing paint-filled water balloons at each other pointing out how “messy” the other group looks.

-Swami Dave

By Bosch

September 19, 2008 1:56 PM | Link to this

Jay,

How are the state polls?

By getalife

September 19, 2008 2:00 PM | Link to this

Bosch,

If McLiar had any honor or decency left, he would resign in disgrace.

Instead, he is desperately and cowardly blaming Obama.

It is absolutely disgusting and time for him and Gramm to retire out of politics.

They have destroyed our economy.

By Paul

September 19, 2008 2:00 PM | Link to this

Midori 1:26

[[In reality, the 110th Congress would have achieved truly landmark accomplishments—including safely bringing the troops home from Iraq,]]

You’re really going to go there? Hit one area Dems and Obama’s weak on - opposing the surge - when even Obama has said the surge’s success exceeded our wildest expectations? When it’s pretty clear what would have happened if there would have been an immediate withdrawal instead?

But, let’s assume you do want to go there. A Pres Obama can easily get sworn in and say “out now. Just as I said a couple years ago.”

If he’s not likely to do so, any idea why?

By Bosch

September 19, 2008 2:08 PM | Link to this

getalife,

Couldn’t agree more.

From what I can tell with the state polls, if the elections were held today, Obama would win by 5 electoral votes. Let’s hope he continues to gain ground in the battle states.

By Midori

September 19, 2008 2:10 PM | Link to this

Midori - looks like you are taking a page from the Biden playbook with your plagarism from the discredited ourfuture.og - as with most Democrats, have you no shame?

Pot meet kettle.

you ignorant cretin.

How can one “plagiarize” something I gave full credit for by supplying the link?

you wingnuts are so quick to call names and find fault that you don’t even bother to think things through.

And yet it is you morons who don’t bother giving attribution when you copy and paste information.

go read a book.

and who discredited the source? You?

maybe you should read 2 books.

Paul: please. don’t “you” go there.

By carole2

September 19, 2008 2:11 PM | Link to this

Only one explanation is possible for those depressing polls:

—half of us can name 4 characters from “The Simpsons,” but less than a quarter can name more than one of the guaranteed rights in the First Amendment.

—only 2 out of 5 voters can name all three branches of the federal government.

—only 1 in 5 know that there are 100 federal senators.

—only 1 in 7 can find Iraq on a map.

—only one-fifth of Americans between ages 18-34 bother to keep up with current events.

Many people like the above tend to post on here on Jay’s blog in vigorous denial of anything he says, which makes me think that either Georgia has more than it’s share of stupid voters or the above statistics are too kind. Either way ….

By Midori

September 19, 2008 2:15 PM | Link to this

Record Breaking: Senate Conservatives Use Filibuster for 62nd Time in This Session of Congress

WASHINGTON, Dec. 18 /PRNewswire-USNewswire/ -- The Republican Senate

minority today filibustered an omnibus budget bill, setting a modern-day record for blocking the most legislation during a congressional session. A new report released today by the Campaign for America’s Future details the 62 times conservatives have used the filibuster to block legislation (or force modification of bills) in the first session of the 110th Congress. In just the first year of this two-year Congress, their use of the filibuster in the Senate topped the previous record, reached during the entire 107th Congress.

The new report outlines every bill filibustered, vetoed or threatened to be vetoed by President Bush. Conservatives filibustered bills to end the occupation of Iraq, provide soldiers in Iraq rest time equal to their deployments, support renewable energy and grant residents of the District of Columbia representation in Congress. Today’s record-breaker involved a $516 billion budget package passed by the House to fund the federal government in 2008. The conservative minority demanded $20 billion additional funding for the war and opposed House language to bring troops home, and threatened a filibuster to prevent the bill from getting an up or down vote.

“In just one session, a minority in Congress has prevented a mind-blowing 62 pieces of legislation from going to the floor for an up or down vote,” said Campaign for America’s Future co-director Roger Hickey. “Our report shows how over and over again, the uncompromising minority has thwarted the will of majorities in Congress and of the American people, holding the Senate floor hostage to a radical right-wing agenda.”

how’s THAT source, jerk??

By CJ

September 19, 2008 2:15 PM | Link to this

Wyld Byll Hyltnyr, “Ok, CJ name five bills that were philibustered. Looks as if you may a mis-information voter.

Five? Try 105—or more. (Note: The previous record is 58 filibusters. The Republicans have more than doubled that record.)

It’s worth noting why Republicans are filibustering everything in sight. It’s not because it’s the only way they have of blocking legislation they dislike. After all, a Republican is president.

The real reason is a desire to kill popular legislation quietly (a complicit press doesn’t spend much time reporting on routine filibusters) rather than force President Bush to kill popular legislation in full public view (the press does report on presidential vetoes).

The problem for Republicans is that the public tends to be on the side of Democrats when domestic issues actually get some attention, so Republicans benefit by keeping their disagreements as low key as possible. The last thing they need is a bunch of high-profile vetoes that would make it crystal clear exactly what they’re fighting against.

Hey Wyld Byll Hyltnyr. You have access to a search engine. Try using it sometime.

By Bosch

September 19, 2008 2:16 PM | Link to this

carole2,

I know this isn’t very democratic of me to say this, but sometimes, I think you should have to pass a test to vote.

By Truth

September 19, 2008 2:19 PM | Link to this

Stupid voters??? Alright… people that are stupid enough to “need” government handouts shouldnt vote. That would be fine with me. They only vote to get more free money anyway….

By Midori

September 19, 2008 2:19 PM | Link to this

CJ:

Hey Wyld Byll Hyltnyr. You have access to a search engine. Try using it sometime.

hah!!

but first he/she/it has to finds “credible” sources. not too many wingnut sites fit that bill, unfortunately.

By getalife

September 19, 2008 2:20 PM | Link to this

Wall Street is socialized now.

Hell, it should go back up big time because the losses are covered.

It boggles the mind.

By Liar-loan McCain

September 19, 2008 2:22 PM | Link to this

.

McCain 08: The last refuge of a scoundrel is a skirt.

Liar-loan McCain is Short skirting the truth to short-sheet America.

.

.I know it still stinks.

Question for Jay Bookman, and if he knows this answer, BOY will I be impressed:

Shorting a stock on wallstreet begs a question: Why would anyone loan a share of stock to anyone else.

What is the incentive for the original owner of the borrowed stock in a short-selling transaction?

By Bosch

September 19, 2008 2:24 PM | Link to this

Truth,

So you mean all the employees of AIG, Freddie Mac, Fannie Mae, Lehman Brothers, and all the other Wall Street firms who will benefit from the BILLIONS of dollars given to them to save their collective asses?

I’m sure you mean them too, huh? OR just the loser poor people?

By Bosch

September 19, 2008 2:27 PM | Link to this

I hit the post button too soon, but…..

Truth,

Seriously, I try very hard not to call names on this blog, but I seriously can not believe you are stupid enough, that anybody is that stupid, to write what you wrote at 2:19.

Surely to God almighty, that is some kind of bad joke.

By AJC/DNC Management

September 19, 2008 2:29 PM | Link to this

Democratic presidential nominee Barack Oblahma, Thee Most Splendid said on Friday he supported efforts by the U.S. Treasury and Federal Reserve to shore up confidence in the financial markets and said he would hold off from presenting his own economic recovery plan.

His teleprompter also had no comment.

To which Hairy Reed replies:

‘No One Knows What to Do’

By Wyld Byll Hyltnyr

September 19, 2008 2:30 PM | Link to this

Midori - we know you used one quote without proper attribution and you still have not answered the question - name five that have been phillibustered, not search and find a source that names none, but alleges many - you are a plagarist and have no credibility with me - name five

By Truth

September 19, 2008 2:30 PM | Link to this

Companies dont vote BRAIN!!! If the indvidual (that votes) gets the handout then they shouldnt get to vote because you know as well as I do that they are gonna vote in someone that will continue the handouts if not raise the amount to make everything “fair”.

By @@

September 19, 2008 2:33 PM | Link to this

Shute jay, I watched your “pole” dancing the other day — with your fancy moves and all. Independent @@, who, unlike you, doesn’t give her tips to the house. Offered a dance of the generic variety, I did.

Did you watch? Noooooooo!

Who’s to say? First it was Operation Chaos. Could be Clinton women are shovin’ the pole up OBlahMa’s caucus.

By Truth

September 19, 2008 2:37 PM | Link to this

I am not calling names… believe me I could say a lot worse, but if someone is dumb enough to make stupid decisions to where they need government “assistance” then they cant be trusted to vote. It may not be the nicest thing to say but it is just a harsh fact.

I still love you Bosch!

By Bosch

September 19, 2008 2:38 PM | Link to this

Truth,

Again, like all the EMPLOYEES OF the Wall Street firms that are benefiting from this bailout? Frakking unbelieveable!

By Paul

September 19, 2008 2:40 PM | Link to this

Midori 2:10

[[Paul: please. don’t “you” go there.]]

No good deed goes unpunished!

your 2:15

I tried the link for the source report upon which the summary was based but it wasn’t working.

Just looking at the examples, it appears much of the filibustering upon which the record was based appears Iraq related. If so, that skews the findings significantly. It would be the similar to a Rep majority repeatedly proposing bills to do something wildly unpopular with Dems - national voter requirements, for example - then the Dems filibuster. Then the Reps repeatedly submit variations on the theme.

Bosch 2:16

[[but sometimes, I think you should have to pass a test to vote.]]

A bit of a Hamiltonian (Alexander Hamilton), are we?

By Truth

September 19, 2008 2:42 PM | Link to this

Bosch… Please know that I think that it is garbage that they are getting bailed out. Now they are just gonna do the same thing again in 20 years because they know the bailout is coming. I dont like it one bit, but you have to understand my meaning behibd my statements.

By RealityKing

September 19, 2008 2:43 PM | Link to this

Obama the divider.

By Bosch

September 19, 2008 2:43 PM | Link to this

“if someone is dumb enough to make stupid decisions to where they need government “assistance” then they cant be trusted to vote”

With the week we have had on Wall Street…is anyone else not stunned by such comments, I know I shouldn’t be, but damn.

Anybody else want a shot at this? I’m too stunned to type anymore.

By Liar-loan McCain

September 19, 2008 2:50 PM | Link to this

.

the bipartisanship is encouraging. Nancy Pelosi is beaming, and very inspiring in her obvious leadership here. She’s every bit as amazing as Palin.

By Bosch

September 19, 2008 2:52 PM | Link to this

Paul,

Hey, my face would be on a bill right now if I were Hamiltonian. I think you know I was just joking.

Truth,

No, I don’t understand the meaning behind your statements: loser poor people who are too dumb to not be poor don’t deserve to vote because they are losers, if they were winners, they wouldn’t be poor.

Didn’t you say you weren’t exactly in the place you’d like to be in your life the other day?

In your world, poor loser people don’t get to vote because they are poor and losers, because they were dumb enough to get themselves in that situation.

BUT,

Rich CEOs of companies - they can vote, even though they were DUMB enough to get themselves into situation where we, the taxpayers, will be paying for their dumbass mistakes for YEARS, while they sit around in the country club joking about the fast ones they pulled on everybody - OH, no, that’s okay, they get to vote.

NO, I don’t understand the meaning behind your statements.

By Swami Dave

September 19, 2008 3:00 PM | Link to this

LLM:

The motivation for the stock “loaners” in a short transaction is the interest charged to the stock borrower during that period.

The potential benefit to the “borrower” is if their expectation of a price drop is accurate. They are effective selling the “borrowed” stock at a current (high) price with expectation to buy it back at the future (lower) price. They pay their interest charges for the borrowing period and keep the difference (if there is any).

The perception of the “loaner” is that the stock will stay relatively the same (or go up). If it does, then they have the gain accrued during the loan period as well as the interest that they collected for loaning it.

The true risk to the “borrower” being that if the market moves against their short position (goes up), then they are losing on both the increasing price (at which they have to buy it back at the end) as well as the interest charges during the borrowing period.

Hope that answered your question.

-Swami Dave

By Truth

September 19, 2008 3:01 PM | Link to this

Bosch…. True, I am not where I would like to be in life. My wife and I would love to start having kids right now, but financially we cant. We are making a smart decision to wait until we are better able to handle having children financially. We probably could start spitting out babies and get a government hand out because of it, but that isnt the right nor is the smart thing to do. That is what I am saying. Most people that get those government handouts made decisions in their lives that put them in the position that they are in now. I know you will find this hard to believe, but I am an extreemly compassionate person. My wife and I give (what little we can) to places like St. Jude because those kids cant help it. The people that get these government handouts put themselves in the position they are in…. and they will use their vote for someone who will keep enabling their ways.

By @@

September 19, 2008 3:03 PM | Link to this

I dropped in on Stratfor to see what Turkey, Putin and Iran were up to, respectively of course. I run across Stratfor’s insight into the financial crisis. Since I have none of my own, I thought I’d share:

This is far from unprecedented in recent history. The U.S. intervention into the savings and loan crisis in the 1980s and 1990s was at least as radical. An entire class of financial institutions, invested in commercial real estate, found themselves in huge financial trouble primarily through engaging in unsound investment practices. The federal government intervened, essentially nationalizing the institutions almost as a class. Shareholders and managers were devastated — some were imprisoned. However, in providing guarantees to depositors, the government limited the damage. More important, by taking control of the assets, the government was able to slow and control the liquidation of commercial real estate holdings. Over time, the bailout actually earned the government a profit.

And this time around — as with the S&L crisis — the market has proven unable to solve the issue itself. One of the weaknesses of markets is that when crises occur, they have a tendency to rapidly liquidate holdings and discount values. What a capable state does is intervene in order to slow the process of liquidation and stop the rapid reductions in price. This requires credibility and wealth. Put another way, deep pockets (the government) take control of assets from weak hands (the damaged institutions) and by doing so end the need to continue to liquidate, thereby halting the asset slide. From the market’s point of view, all of the concerns about liquidity and contagion disappear. This is why American markets are up 4 percent today.

Such interventions can only happen in economies where there is massive wealth available for this action, and where the state is able to marshal that wealth. This is why the size of the U.S. economy at $14 trillion is so incredibly important. It gives the United States options in managing markets that other countries don’t have.

This is where we need to be focusing. The place where the economy gets interesting for us is not in the short-term gyrations of markets but in the interface among the state, its interests and the markets. We are witnessing one of those moments. Many will say that this is unprecedented — but of course that is not true. Intervening to control the value of assets is a regular action of all states. This was just a noisier one.

That’s because it’s an election year, and OBlahMa’s valves are stuck. He’s makin’ a clattering noise.

CLATTER, the incessant noise that requires necessary tools.

By Paul

September 19, 2008 3:12 PM | Link to this

Bosch

I thought your face was on a bill. Kind of a handbill. Had’em up at the Post Office with nine other guys’ pics.

As I was reading your posts I thought of one of those Motivational Posters (the kind in a frame on a wall, not bloggers):

“Never underestimate the stupidity of people in large groups.”

Then I thought about Congress.

Truth,

Oftentimes what happens to people is beyond their control. Noncovered illness, layoff at age 55, retirement plan busted, the list goes on. Life isn’t always fair. I don’t have any problem, at all, with giving money - through taxes, donations, or both - to help people through those situations.

But if you mean this specific situation - heck, even money market funds in which many people had lots of savings and retirement contributions - saw declines for the first time, ever. Why? Because some of their investments were in these mortgage securities. Which risk even the fund managers weren’t fully aware of. So the people at the bottom were about to become “poor” through no fault of their own.

By GMAN

September 19, 2008 3:12 PM | Link to this

I’m a little confused. Let me see if I have this straight…..

  • If you grow up in Hawaii , raised by your grandparents, you’re ‘exotic, different.’

  • Grow up in Alaska eating moose burgers, a quintessential American story.

  • If your name is Barack you’re a radical, unpatriotic Muslim.

  • Name your kids Willow , Trig and Track, and you’re a maverick.

  • Graduate from Harvard law School and be President of the Law Review, and you are unstable.

  • Attend 5 different small colleges before graduating, you’re well grounded.

  • If you spend 3 years as a community organizer, create a voter registration drive that registers 150,000 new voters, spend 12 years as a Constitutional Law professor, spend 8 years as a State Senator representing a district with over 750,000 people, become chairman of the state Senate’s Health and Human Services committee, spend 4 years in the United States Senate representing a state of 13 million people while sponsoring 131 bills and serving on the Foreign Affairs, Environment and Public Works and Veteran’s Affairs committees, you don’t have any real leadership experience.

  • If your total resume is: local weather girl, 4 years on the city council and 6 years as the mayor of a town with less than 7,000 people, 20 months as the governor of a state with only 650,000 people, (less than the population of Staten Island….) then you’re qualified to become the country’s second highest ranking executive.

  • If you have been married to the same woman for 19 years while raising 2 beautiful daughters, all within protestant churches, you’re not a real Christian.

  • If you cheated on your first wife with a rich heiress, and left your disfigured wife and married the heiress the next month, you’re a Christian.

  • If you teach responsible, age appropriate sex education, including the proper use of birth control, you are eroding the fiber of society.

  • If , while governor, you staunchly advocate abstinence only, with no other option in sex education in your state’s school system while your unwed teen daughter ends up pregnant , you’re very responsible.

  • If your wife is a Harvard graduate lawyer who gave up a position in a prestigious law firm to work for the betterment of her inner city community, then gave that up to raise a family, your family’s values don’t represent America’s.

  • If your husband is nicknamed ‘First Dude’, with at least one DUI conviction and no college education, who didn’t register to vote until age 25 and once was a member of a group that advocated the secession of Alaska from the USA , your family is extremely admirable.

OK, much clearer now.

By Bosch

September 19, 2008 3:15 PM | Link to this

Truth@3:01,

And you think the corporate w******* on Wall Street won’t use their vote, and better than that, their money and influence, for the same thing?

It’s okay to help out the CEOs who make the dumb mistakes that cost the taxpayers billions, but not the loser poor people because they made bad decisions?

Do you have some kind of wingnut scale or model to help define what constitutes a BAD decision and how it correlates to the taxypayer money wasted?

So, in your world, people aren’t supposed to have children until they can afford to have them? What happens if they get pregnant, and can’t afford them? Abortion? They have to give them up?

I obviously live in a different world than you do.

By Dave W

September 19, 2008 3:15 PM | Link to this

Sarah Palin likes to tell voters around the country about how she “put the government checkbook online” in Alaska. On Thursday, Palin suggested she would take that same proposal to Washington.

“We’re going to do a few new things also,” she said at a rally in Cedar Rapids. “For instance, as Alaska’s governor, I put the government’s checkbook online so that people can see where their money’s going. We’ll bring that kind of transparency, that responsibility, and accountability back. We’re going to bring that back to D.C.”

There’s just one problem with proposing to put the federal checkbook online – somebody’s already done it. His name is Barack Obama.

By Wyld Byll Hyltnyr

September 19, 2008 3:16 PM | Link to this

Midori,

As to your hateful 2:10 post. It looks as if you have guzzled so great an amount of the Dem koolaid that you now fancy yourself to be Bill Maher or whatever that loon’s name is.

Writing “Get the rest of the story.” is neither proper attribution nor readily identifiable to most people. For my part, I thought that was some idiotic tag line that you affixed at the botton of your drivel.

By Liar-loan McCain

September 19, 2008 3:21 PM | Link to this

@@, nobody can read italics. It’s torture to wade through. You only blog to take up space, like a toad sits on a toadstool just to sit there and croak.

ribbit…..ribbit…..ribbit

I’m sure you have very personal insights to make which everyone wants to read, but nobody is going to wade through your type.

Simply quit using italics. Just stop using them, and I’m sure you’ll finally get read after two years of being ignored by everyone except duhng and your alias, Pusty.

Of course you dont know if I want you to keep using italics, so you dont get read, or if I’m teasing you into stopping the use of italics in which case everyone will know what a total fallguy U R.

I think it’s a damn shame that your mother didn’t raise you 2B a nicer man.

By Truth

September 19, 2008 3:22 PM | Link to this

Paul, I fully understand what you are saying, but you have got to think with your brain and not your heart. Yes, I feel bad for many people that are in tough situations, but I also know that these politicians will buy their votes with the promise of free money. That just isnt smart. A big reason we are in this economic situation is because the Community Reinvestment Act which made lenders give loans to people who couldnt afford the housing. Sure, I would love for everyone to own a house, but it just isnt they things are or ever will be.

By Midori

September 19, 2008 3:23 PM | Link to this

Wild Jerk,

were your parents brother and sister?

By Liar-loan McCain

September 19, 2008 3:23 PM | Link to this

.

McCain/Palin 08: If politics makes for strange bedfellows, then America just got short-sheeted.

.

McCain 08: Behind the skirt. Behind in the polls.

By Bosch

September 19, 2008 3:24 PM | Link to this

GMan,

Yeap. Sounds about right to me. Amazing, huh?

Paul,

Ha. Ha (as I roll my eyes). But it’s Friday!

Hey, speaking of Friday, has anybody seen the new Cohen Bros. film (Burn After Reading), and if so, would you take your 12-year-old daughter to see it? Of course, hypothetically, and of course, if you were the kind of parent who didn’t care that your children watch movies with “bad words” in them. Not, that that is the kind of parent I am, purely hypothetical.

By Lisa

September 19, 2008 3:24 PM | Link to this

Seems like Sarah “Barracuda” Palin is backing down on her promise to cooperate with the “troopergate” investigation…at least until AFTER the election, says the McC campaign. And just WHY is the McC bunch doing the talking about this anyway…doesn’t Sarah have the scruples, honesty, and principles to follow through on what she said she would do? I think her punch line was “Hold Me Accountable, Alaska!”. Well, she’s running for something a bit larger than Alaska and if she wants to be taken seriously, she needs to quit the stalling and air it out. If not, then she sure isn’t anybody I’d want in a position of control for this country. We’ve had enough liars and cheats for the last 7+ years in the current administration to last a lifetime, and more.

This is starting to reek like a week-old salmon…out of water. If, as her attorney general says, the director of public safety was terminated for…now just WHICH reason is it today? They’ve cited as least 3 different ones to date, so it’s getting hard to know what’s real and what’s fake when their stories change. All this in barely over two weeks…tsk, tsk, tsk.

Your halo is tarnishing faster than John-boy and his band can polish it, Sarah…and no amount of lipstick is going to help you with that.

One last thing, Sarah…would you PLEASE ask the former Bush speechwriters now attached to the McCain campaign who wrote your RNC speech to write you a new script? You’ve trotted out the same one over and over and, quite frankly, you’re getting B-O-R-I-N-G!

By Liar-loan McCain

September 19, 2008 3:28 PM | Link to this

.

Obama 08: America takes over. Over here.

.

By getalife

September 19, 2008 3:32 PM | Link to this

Do they realize that w is CEO of those corporations with 2 trillion of your money ar risk?

Or McLiar?

OMG.

By Bosch

September 19, 2008 3:33 PM | Link to this

And here’s another thing…..

I don’t know how things are where everybody lives, but my gas station nearby was CLOSED last night! WTF??? And, the other two that I frequent - one had a limit of the amount of gas you could get, and the other had only regular unleaded (not that that is a problem for me).

AND, I was in the grocery store the other day as well, and the shelves were pretty barren.

I’m not trying to be an alarmist or anything, but that just doesn’t seem right.

By Truth

September 19, 2008 3:34 PM | Link to this

Bosch… If a person gets pregnant then they probably made a decision to have sex which could cause a pregnancy, so once again… decisions! I told you I think the bailout is garbage. Just like with the “less fortunate” we are enabling them to keep the same practices. And Bosch, sweetie, I dont think that we live in different worlds. In fact, I bet we are alot alike. I am so not trying to get you all worked up over this. I do appoligize if I seem rude… I wasnt trying to come off that way… :)

By Truth

September 19, 2008 3:39 PM | Link to this

Well Bosch…. Please tell me they still have beer on the shelves… Its gonna be a loooooong day tomorrow if Georgia plays at 8:00 pm!

By Bosch

September 19, 2008 3:41 PM | Link to this

No Truth,

We OBVIOUSLY live in very different worlds, or rather keep very different company.

I don’t get worked up over blog topics. It takes alot to get me worked up.

AND, don’t call me “sweetie” - that’s just weird.

By Paul

September 19, 2008 3:43 PM | Link to this

@@ 3:03 Again, thanks for the Stratfor update.

BTW – anyone heard if Congressman Franks is still pushing the industry to give low interest loans for affordable housing to people who wouldn’t otherwise qualify? Or if the Fed is still keeping interest rates low, low, low?

See, Truth, sometimes our very government encourages poor choices!

GMan 3:12

Yeah, that’s about it in the eyes of many.

And neither one (Obama/Palin) ought to be using “experience” as an overriding qualification to run for President.

Dave W 3:15

If your entire post, including seeming commentary, is lifted from elsewhere, you really should put the entire thing in quotes or brackets.

The part you omitted says “The act created a free, searchable web site – USASpending.gov — that discloses to the public all federal grants, contracts, loans and insurance payments.”

See, most people wouldn’t consider grants, contracts, loans and insurance to comprise the entire budget. What Obama did is a nice start, but it’s a teensy tiny start.

Truth 3:22

I think both apply – disadvantaged game the system, wealthy game the system. Companies look at tax breaks and gimmies as essential, then those at the top make judgmental remarks about those lower down. Congress buys votes all day long (I prefer the word “bribes”). So by illustrating down on their luck folks, I was not saying there are not those who are deceitful. They are all represented. Unfortunately, our gov’t does not do an adequate job of sorting this out while others are gaming the free market.

Lisa 3:24

Couldn’t have anything to do with the Alaska Attorney General’s recommendation, could it? Same thing we see on a Federal level (Congressional subpoenas to the Executive, Attorney General advised noncompliance to protect rights of the Executive, Congress holds breath, Executive sticks out tongue) on the state level.

Just think: with a Pres Obama and a hard-right Rep Congress, would you want Pres Obama to ‘obey’ every Congressional subpoena?

Bosch

Have a son in FL. Big city. A week ago said gas was gone. Rumor started that with Ike gas would hit $5-6 a gallon. So everybody filled up! Demand up, supply delivery constant…. Poof!

By Truth

September 19, 2008 3:45 PM | Link to this

Sorry… I just wanted to sound nice so you wouldnt think I was a total jerk. It will never be said again!

By TeaTime

September 19, 2008 3:50 PM | Link to this

McCain/Palin 08: If politics makes for strange bedfellows, then America just got short-sheeted.

By TeaTime

September 19, 2008 3:52 PM | Link to this

Hey everybody! Truth and Bosch are having a catfight. Rowrr!

CATFIGHT!!

Rowrr!

By Bosch

September 19, 2008 3:55 PM | Link to this

Paul,

The old guy who runs the station near my house told me gas was going to skyrocket and to get ready, but he didn’t tell me he was closing down. Probably temporary until supplies come back up.

Have YOU seen the new Cohen Bros. movie?

By demwit

September 19, 2008 3:56 PM | Link to this

Nancy Pelosi, Hillary Clinton, Diana Feinstein, Michelle Obama… Why is it that today’s successful progressive women is so darn, um…, ugly? Is that a liberal feminists’ requirement too??

Meanwhile.., Lisa Murkowski, Elizabeth Dole and wow., Sarah Palin have shown us that conservative women have found the lock on the looks department, new and old. Facial repair and/or replacement parts not required..

And here I thought conservatives didn’t have any fun at home.. Whats up with that liberal lie!?

By Bosch

September 19, 2008 3:57 PM | Link to this

Tea Time,

You’re a little late.

By Truth

September 19, 2008 4:00 PM | Link to this

Awwwww…. Come on noe TeaTime. I think Bosch would agree we were just having some fun… right Bosch?

By TeaTime

September 19, 2008 4:02 PM | Link to this

New Mozart!…. The News Quiz on AJC asks, “What material is Palins glasses?” Only the folks who dont know or care should pass the quiz. If you do know, then you’re not qualified to size up a candidate for office and your voting priveledges should be revoked. ANd you’ve proved to yourself, if you are honest with yourself, that you’re an idiot. Duh, I know the answer, duh. retard. honestly.

By AJC/DNC Management

September 19, 2008 4:03 PM | Link to this

DOW UP 35 POINTS IN PAST MONTH… UP 17% PAST 5 YEARS… UP 43% PAST 10 YEARS…

al-Gitmo: So how much is Social Security “up?”

By getalife

September 19, 2008 4:09 PM | Link to this

Andy,

They borrow on it so I have no idea.

Your thugs are trying to rob it but have failed.

The $2 trillion will be history with w as the CEO.

By Bosch

September 19, 2008 4:11 PM | Link to this

Truth,

This blog is for entertainment purposes, so if I didn’t think it wasn’t entertaining, I would frequent so much.

I am very laid back, very complacent and my feathers rarely get ruffled, but:

I do take issue with those who think that people who are poor and receive “welfare” don’t deserve to vote. I don’t think that’s funny or fun. Not at all.

By RW-(the original)

September 19, 2008 4:14 PM | Link to this

Washington Post Faults McCain For Relying On…Washington Post

You just can’t make these things up.

By Bosch

September 19, 2008 4:15 PM | Link to this

Yeap Andy,

The rich keep getting richer and the taxpayer gets left to pay for their crap.

Sounds like everything is back to normal.

By Just_Me

September 19, 2008 4:23 PM | Link to this

demit

Are you serious with that post???

Is this what your selection comes down to? Looks—not qualifications, brain power, job experience, but who looks better?

Troglodyte…please, crawl back into whatever slimy swamp you came out of.

I don’t care if my elected officials have been beaten within an inch of their lives with ugly sticks—as long as they are COMPETENT.

I have often found, in real life, the ‘beautiful ones’ tend to rely a wee bit too much on that (oh, please don’t make me go hunting through my papers on the studies that show a bias towards ‘pretty people.’)

You do nothing to further your cause by posting utter crap.

Gman loved the post listing the differences. I could have added one or two, but your list was terrific. Hope you don’t mind, but i am copying it (with a proper cite/nod re: source), and sharing it with the two or three people still riding the fence.

And, for the record, ‘demwit,’ sometimes ‘unattractive” people become more attractive when you get to know them….conversely, the ‘lovely’ St. Sarah is beginning to look like that picture in Dorian Grey’s closet….too bad the nine billion itty bitty fibs she keeps repeating DON’T show up on her face!

By Paul

September 19, 2008 4:29 PM | Link to this

RW-(the original) 4:14

That’s gotta be the classic post of the day.

By Paul

September 19, 2008 4:31 PM | Link to this

Just Me 4:23

You may want to add Bosch’s comment about who should be allowed to vote…

By TeaTime

September 19, 2008 4:33 PM | Link to this

.

McCain/Palin 08: If politics makes for strange bedfellows, then America just got short-sheeted.

.

And now for his public service announcement. Miller Time.

.

Obama 08: America takes over.

By Just_Me

September 19, 2008 4:33 PM | Link to this

Bosch

Thank you for defending the poor—and their utter right to vote.

Given this current economy (non-recession??) I know so many more people who have found for the first time in their lives they are relying on various forms of ‘welfare,’ whether it is food pantries, church/community help,or traditional social services….

Way back in the early 70s, when divorce was unheard of, my mother divorced my father—he refused, yes, REFUSED to pay the $25/week ordered as child support for my brother and I. Eventually, social services, “welfare” paid our child support, and they went after my father. When we were old enough, my mom went to work full time (she tried to do it when i was 8, but was reported for ‘negligence,’ so she had to quit.)

She is a shining example on the true purposes of welfare…she used it for 2-3 years to help make ends meet, then stopped when she no longer needed it because we were old enough to be alone.

To say that anyone, anyone who is “poor” is responsible for that is ridiculous. My own family-my husband of 22 yrs and i, have been down there..when the company he worked for suddenly closed-no job for 9 months!

With the rate of businesses shuttering, it is total arrogance to assume that you or someone you know/love won’t wind up in that particular sinking boat.

Again: if this line of thinking is an example of “compassionate conservatism,” i am so glad i never subscribed to that particular load of republican B.S.

By RW-(the original)

September 19, 2008 4:34 PM | Link to this

Just_Me,

If you want to copy that list from GMAN and give it proper credit and sourcing you better dig a little deeper. It was already cut and pasted onto a topic here yesterday and when I looked it up I found thousands of references to it. None led back to GMAN.

By Truth

September 19, 2008 4:44 PM | Link to this

I wasnt saying that the “poor” shouldnt get help if they need it, but I did say that they will use their vote to get more free money. I dont see that as right because you know some politicians promise more money for those on welfare just to buy more votes. I promise I feel for those people, but I must think with my head and not my heart. And Just_Me… I honestly thank God that everything did work out for you and your family.

By Just_Me

September 19, 2008 4:45 PM | Link to this

RW

I guess somewhere deep inside my little Democratic body, I should be impressed that you’ve spent so much time analyzing posts that you can recall where his list came from, and had the time to research this. Instead, I will, if/when I use it, say I found it on a blog in the ajc, and it has multiple sources. I am forever lecturing my students about plagiarism….

However, I guess I owe you thanks-although I don’t have the time, nor inclination to start digging thru posts-some of us have active, happy, constructive FUN lives….This week, I’ve been researching the next few things I will be working on with my students, so I haven’t had nearly as much time to track down sources found on the ajc.com’s post.

Thankfully, school reopens on Monday…..so my time here, la la la, has pretty much come to a close. While it’s been entertaining, the invective, ugliness, and total pettiness at times has been exhausting, to say the least.

I’ll leave you to it, but I won’t stop reading/or posting an occasional post.

By RW-(the original)

September 19, 2008 4:46 PM | Link to this

Bosch,

Here’s a state tracker I check out every few days. They update daily and in the notes they’ll usually tell you which polls have been updated.

It’s the first time I’ve used them so I can’t vouch for their track record.

By Paul

September 19, 2008 4:49 PM | Link to this

Just Me,

Actually, I meant Bosch’s 2:16

[but sometimes, I think you should have to pass a test to vote]

I just don’t find such Family Values criteria all that convincing in what I look for in a national leader interacting with other world leaders. Sometimes the scoundrels seem to do best -

:-)