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Friday, October 5, 2012

OKAY, SO IS NOW OBAMA THE UNDERDOG, AGAIN?

No, Barack Obama is still projected to win on November 6.  Three percentages in particular will continue to reinforce his lead:

1.  47%:  Click on that number to hear Mitt Romney actually mouth his supercilious class warfare statement.  This photo was taken at that scene, recorded by Mother Jones, the magazine.  If this percentage votes for Obama, plus some of the more well-to-do, what chance has Romney?  Of course, many of this "downtrodden" group don't vote, so, clearly, the Obama campaign needs to work on this.  Who are the 47 percenters?  Romney was probably referring to the 46% of households not paying any income taxes last year.  Actually it was 51% two years ago, and, historically, this figure has been around 40%.  Many side with Romney because it seems unfair for so many to get away with this.


2.  7.8%:  In what caught economic pundits by total surprise, the unemployment rate fell 0.3%.  More than anything else, there is something symbolically significant about dropping below 8%.  There will be one more report just before election day, but it will be too late for Republicans to take advantage of a jump back up to 8% then.  Anyway, the trend omens yet another reduction.  The response by Romney and his supporters?  Our economy remains terrible.  If we were in charge the unemployment rate would be 6% or less by now.


3.  3.36%:  The 30-year fixed mortgage rate sunk to 3.36% this week, the lowest on record.  Remember, it was the housing market that triggered the almost great depression in 2008.  The market has turned up, and the size of the increase was unexpected.

A fine sunset...again:



HAVE A GREAT WEEKEND!  Me?  I'll be staying at the Royal Hawaiian Hotel and having a Sunday brunch at Michel's, followed by a La Mer dinner at the Halekulani.  Return to see all the fine food and why I'm doing this.


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