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Home Publications Blogs Beat the Press It's the Economy Stupid

It's the Economy Stupid

Sunday, 07 November 2010 08:04
The media are filled with discussions about how the Democrats lost the elections because they over-reached or according to a front page Post article because President Obama was disconnected to the American people. However, there are number of models from political scientists that largely predicted the outcome based on the Democrats' past success (meaning a large number of seats in marginal districts) and the bad economy. It would have been useful to call attention to these models even if it undermines the story the media want to tell.
Comments (10)Add Comment
Economic Policy Failure
written by bakho, November 07, 2010 7:45
Dems lost because economic policy has FAILED to adequately address unemployment. Obama needs to be told that his policies have FAILED and he needs to do more to address unemployment.

Republicans need to be told that Austerity is Doomed to FAILURE and the Bush-Greenspan-Bernanke policy that is the root of our current problems would be Doomed to FAIL as well.

Politicians need to be repeatedly told that their policies have FAILED before they will change.
It's The Economy Stupid Liberals
written by izzatzo, November 07, 2010 8:03
Correction: It's the Economy Stupid Liberals, those holding large numbers of seats in marginal districts who allowed a government takeover of the private sector and were hell bent on replacing capitalism with Marxism, Socialism, Totalitarianism, Homoism, Islamoism and Deficitism.

Corporations masquerading as persons and financed with hundreds of undisclosed millions by secret outsiders have spoken. Teabaggers rise up and welcome your new handlers, the same ones as the old ones.
written by PeonInChief, November 07, 2010 10:28
Why is it that the media pundits always assume that what we most want is a President with whom we can have a beer? I want a President who doesn't hand our economy to the financial services industry, who doesn't force millions of Americans to buy insurance they can't afford to use, who doesn't want to cut Social Security for millions of people who've already paid bunches of money for that insurance. And I want a President who has the courage to do all of these things and then point out that "bipartisan" always means Democrats capitulating to Republican demands. Oh, and one who...

I don't care if I'd want to have a beer with the guy.
written by Robert, November 07, 2010 11:09
Here's a story that greatly explains how our democracy and media work:

If you're a big player at Morgan Stanley, which only exists because of taxpayers, you have immunity to hit and run cyclists because prosecutors think a felony conviction would have serious job implications. The man's only call after driving away from his victim in critical condition was to report damage to the vehicle. Of course, the mainstream media won't report this, because that might be offensive to bankers.
written by diesel, November 07, 2010 2:51
Thanks Robert for the heads up. God, what a loathsome piece of trash that financial advisor is. He was likely talking on his cell phone. The rationale behind his charge being reduced from a felony to a misdemeanor is just disgusting. I'd love to meet one of these guys in a fair unlimited fight match. Come to think of it, I did. The guy who ran me down from behind ended up flat on his back on the pavement with me above him holding him by his hair, ready to pound his head into the pavement if he so much as gave the least sign of resistance. Of course, after he was found guilty of a felony driving charge, one of the cops phoned me at home and threatened me with a felony assault charge if I ever dared stick up for myself again. I was lucky. I wasn't permanently maimed, just temporarily crippled. And the judge too was an avid bicyclist and willing at least to hear both sides, which is pretty rare.
written by Calgacus, November 07, 2010 4:44
Hey, I like his defense. Think I'll try it. Modify it a little from his wholesale financial adviser - private wealth manager situation. I'll use it as a retail financial adviser - i.e. bank robber & mugger - who hands people nicely printed notes advising them to give me all their money, or else. After all, if I'm prosecuted as a felon, it might interfere in my profession and ability to perform restitution, in the immediate future, when neoclassical economics start making sense and working.
written by jerry, November 07, 2010 6:39
The voters want govt to get out of the way and allow health insurance companies to take their money and drop them when they get sick. They also want to borrow money and then have the interest rate tripled for no reason. They also want the next Maddoff to have an opportunity to ply his trade. They want a larger share of the tax burden.
Leaving the scene of an accident is unforgivable Marty Erzinger
written by AndrewDover, November 07, 2010 6:48
Perjury is the name for "I did not know I hit anyone"

Sounds like a prosecuter with a grude against a lawyer:
"Haddon and Hurlbert have squared off before. Haddon was one of Kobe Bryant's defense attorneys, with lead attorney Pamela Mackey, when Bryant faced sexual assault charges in Eagle County. Hurlbert was the lead prosecutor in that case."

More on Martin:

Hopefully the Denver community will hear about this story.
See Martin run
written by Csquared, November 07, 2010 11:22
C'mon guys. Lighten up on the guy. How do you expect him to pay restitution when Walmart won't hire people with a felony conviction on their record.
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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.