More on the Economy, Some Republican Opinion, and Some Hate.

Historical Nugget: The Edge of the American West talks about Teddy Roosevelt speaking after he had been shot. He was then running on the Progressive (Bull Moose) ticket to try to unseat President Taft and defeat Woodrow Wilson. The post is short, punchy and sweet.

Economy
Paul Krugman winning the Nobel Prize in Economics has inflamed many wingnuts. But he did predict the subprime mortgage meltdown.

A few weeks ago, he wrote the following on his blog:

“I’ve been pointing out that the dictatorial powers Paulson has sought would accrue to the next Treasury secretary, who might well be Phil Gramm. I’ve been trying to come up with a liberal-leaning name who might seem equally horrifying to Republicans, and the only one I’ve come up with is … me.”

I noted to Mark Blyth and/or to Abbas that Krugman’s comment was funny because it was true. Now, the award of the Nobel seems to have had the same effect, setting some of the rightwing parts of the blogosphere aflame.

Note: Krugman backed Clinton during the primaries, and there is still sore sore feelings between him and the Obama camp (mostly on the health insurance plans; Krugman favors mandates whereas Obama only favors them for dependent kids).

Robert Reich talks about some of the causes and points out that there is too much blame placed on the average person:

The “living beyond our means” argument, with its thinly-veiled suggestion of moral terpitude, is technically correct. Over the last fifteen years, average household debt has soared to record levels, and the typical American family has taken on more of debt than it can safely manage. That became crystal clear when the housing bubble burst and home prices fell, eliminating easy home equity loans and refinancings.

But this story leaves out one very important fact. Since the year 2000, median family income has been dropping, adjusted for inflation. One of the main reasons the typical family has taken on more debt has been to maintain its living standards in the face of these declining real incomes.

It’s not as if the typical family suddenly went on a spending binge — buying yachts and fancy cars and taking ocean cruises. No, the typical family just tried to keep going as it had before. But with real incomes dropping, and the costs of necessities like gas, heating oil, food, health insurance, and even college tuitions all soaring, the only way to keep going as before was to borrow more. You might see this as a moral failure, but I think it’s more accurate to view it as an ongoing struggle to stay afloat when the boat’s sinking.

Here is another nice summary of the situation.

Republican Opinion on the Election

Dick Morris: first he says that Bill Ayers will matter.

Now he says: ok, maybe not, but what about ACORN!!!

Dick Morris knows his stuff, but he doesn’t shill very well.

So, what is going on with this election anyway?

African American enthusiasm is higher than ever before, and that is breaking up the old voter turnout models.

Even people who would normally hate liberals and Obama are voting for him this time.

Reagan Dems and Independents. Call them blue-collar plus. Slightly more Target than Walmart.

Yes, the spot worked. Yes, they believed the charges against Obama. Yes, they actually think he’s too liberal, consorts with bad people and WON’T BE A GOOD PRESIDENT…but they STILL don’t give a f***. They said right out, “He won’t do anything better than McCain” but they’re STILL voting for Obama.

The two most unreal moments of my professional life of watching focus groups:

54 year-old white male, voted Kerry ‘04, Bush ‘00, Dole ‘96, hunter, Nascar fan…hard for Obama said: “I’m gonna hate him the minute I vote for him. He’s gonna be a bad president. But I won’t ever vote for another god-damn Republican. I want the government to take over all of Wall Street and bankers and the car companies and Wal-Mart run this county like we used to when Reagan was President.”

And I am not kidding here: while I was canvassing in Iowa, someone told my partner that she was “going to vote for the nigger” and meant it. Seriously.

I just shook my head.

Speaking of hate: where is this coming from?

Rush Limbaugh:

A local Republican Organization (California) actually had “Waterboard Obama” on it’s website.

Though this is not about the Presidential race, check out what this Oklahoma Republican says:

Perhaps this is why you see stuff like this from the rank and file:

These are the folks that McCain is proud of?