<body><script type="text/javascript"> function setAttributeOnload(object, attribute, val) { if(window.addEventListener) { window.addEventListener('load', function(){ object[attribute] = val; }, false); } else { window.attachEvent('onload', function(){ object[attribute] = val; }); } } </script> <div id="navbar-iframe-container"></div> <script type="text/javascript" src="https://apis.google.com/js/plusone.js"></script> <script type="text/javascript"> gapi.load("gapi.iframes:gapi.iframes.style.bubble", function() { if (gapi.iframes && gapi.iframes.getContext) { gapi.iframes.getContext().openChild({ url: 'https://www.blogger.com/navbar.g?targetBlogID\x3d32209663\x26blogName\x3dSideways+Mencken\x26publishMode\x3dPUBLISH_MODE_BLOGSPOT\x26navbarType\x3dBLACK\x26layoutType\x3dCLASSIC\x26searchRoot\x3dhttp://sidewaysmencken.blogspot.com/search\x26blogLocale\x3den\x26v\x3d2\x26homepageUrl\x3dhttp://sidewaysmencken.blogspot.com/\x26vt\x3d7682481423868601741', where: document.getElementById("navbar-iframe-container"), id: "navbar-iframe" }); } }); </script>

Fly In Election Ointment



For once I sold a house at the right time:

New-home sales fell more steeply in July than economists forecast, and the number of unsold houses climbed to a record, deepening a slump in an industry that fueled economic growth for five years.

Purchases of new homes, which account for 15 percent of the market, dropped 4.3 percent to an annual pace of 1.072 million, the Commerce Department reported yesterday.

That followed a report the previous day showing that sales of previously owned dwellings had dropped to the lowest point in more than two years.

[...]

"Housing is coming off in a big way," said Martin Feldstein, a Harvard University economist and chief executive of the National Bureau of Economic Research. "That will be a drag on the economy."

Some people are talking about the possibility of a so-called "hard landing" from the housing bubble. In other words, a recession. I know next to nothing about economics, so I have no opinion on landings, hard or otherwise, but I know a little bit about politics.

If we go into a recession the conventional wisdom about 2008 being a foreign policy election may end up being wrong. Candidates need to make sure they have some economic policy positions worked out, and some strong pocketbook talk worked into their stump speeches well before the Iowa caucuses. You can't come late to the money issues and have any credibility.

It would hurt Joe Biden (assuming he has any support to hurt) and Bill Richardson and Russ Feingold. Could help John Edwards or Mark Warner, but could also help Hillary who can allude to the economic good old days of the Clinton years. It would make it tough on McCain or Giuliani who are almost exclusively about foreign policy and "good government," and would cast a pall over Republicans generally.

Two years from now if we're still in Iraq and things there still don't look good, and if gas prices are still high and the value of home equity is falling, a Republican ticket of Jesus and Moses won't be electable.

Links to this post:

Create a Link

“Fly In Election Ointment”

  1. Blogger ninest123 Ninest Says:

    ninest123 09.17
    nike air max, gucci handbags, red bottom shoes, michael kors handbags, ugg boots clearance, michael kors outlet online, louis vuitton outlet online, polo ralph lauren outlet, louis vuitton, cheap oakley sunglasses, tory burch outlet online, burberry outlet online, ray ban outlet, louis vuitton handbags, louis vuitton outlet, longchamp outlet, prada handbags, ugg australia, michael kors outlet, replica watches, christian louboutin outlet, ugg outlet, christian louboutin, polo ralph lauren, louis vuitton outlet, cheap ugg boots outlet, oakley sunglasses, oakley vault, burberry outlet online, christian louboutin shoes, nike air max, tiffany jewelry, prada outlet, cheap ugg boots, michael kors outlet online sale, replica watches, nike free, michael kors outlet online, longchamp outlet online, longchamp handbags, tiffany and co, ray ban sunglasses, michael kors outlet store, nike outlet, jordan shoes

  2. Blogger ninest123 Ninest Says:

    michael kors uk, michael kors outlet online, ray ban uk, scarpe hogan, ray ban pas cher, lacoste pas cher, coach purses, ralph lauren pas cher, burberry pas cher, lululemon outlet online, hollister, hermes pas cher, nike roshe run, coach outlet, nike blazer pas cher, tn pas cher, longchamp, hollister uk, new balance pas cher, louboutin, chanel handbags, kate spade outlet, michael kors, vans pas cher, north face, oakley pas cher, true religion outlet, true religion outlet, air jordan, nike air max, north face pas cher, longchamp pas cher, true religion jeans, nike free pas cher, true religion, air max pas cher, sac vanessa bruno, timberland pas cher, kate spade outlet online, guess pas cher, coach outlet, converse pas cher, coach outlet store online, michael kors canada, nike air force

  3. Blogger ninest123 Ninest Says:

    nike free, nike air max, reebok shoes, ghd, wedding dresses, celine handbags, beats headphones, nfl jerseys, air max, jimmy choo shoes, mac cosmetics, hollister, mcm handbags, north face jackets, abercrombie and fitch, vans outlet, baseball bats, mont blanc pens, asics shoes, nike air max, ralph lauren uk, longchamp, giuseppe zanotti, p90x workout, nike trainers, insanity workout, instyler ionic styler, soccer jerseys, lululemon outlet, abercrombie and fitch, north face jackets, herve leger, ferragamo shoes, valentino shoes, birkin bag, nike roshe, mulberry uk, nike air huarache, chi flat iron, hollister clothing store, nike roshe, bottega veneta, soccer shoes, babyliss, new balance outlet

  4. Blogger ninest123 Ninest Says:

    air max, pandora uk, coach outlet, ugg soldes, replica watches, toms outlet, vans, ray ban, pandora jewelry, louis vuitton, converse, supra shoes, karen millen, hollister canada, marc jacobs handbags, louis vuitton pas cher, doke gabbana outlet, ugg boots, links of london uk, swarovski jewelry, ugg, iphone case, michael kors outlet, michael kors outlet online, thomas sabo uk, louis vuitton uk, timberland boots, pandora jewelry, juicy couture, uggs canada, converse shoes, louboutin, swarovski uk, oakley, sac lancel, montre femme, louis vuitton canada, abercrombie, ralph lauren, sac louis vuitton, gucci, michael kors handbags, juicy couture outlet, ugg, pandora charms, wedding dress
    ninest123 09.17