The elections analyst Dave Wasserman assesses Black support for Donald Trump and explains a state-level primary that's a national bellwether.
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Looking at the state of the race today, it's going to be close again, peeps:
Was always going to be - the early "celebration dance" high is over, it's just yet another "anti-vote / vote against" the last candidate who will piss enough "undecided" off just before the vote:
She did not get a real post-convention bump in the polls, neither did Trump. "Kamala-mentum" is gone. Considering who she is running against, this should have been an EC blowout already.
Both have negative "favorable - unfavorable" opinion spread.
Economic conditions are deteriorating - that's the reason the Fed is going to cut Fed rate, despite core and headline inflation still above target, though August and September comparisons against 2023 s/b easy, so official headline annual rate should come down faster, as October data will be after elections. And oil and gas are low, so it should help official inflation readings.
Stock market's "AI bubble" is starting to deflate, in fits and starts, as usual - despite expected rate cut - and "zombie" companies' stocks that went up in the "everything bubble" of 2020-2021 have been sinking fast, so this may affect "consumer sentiment" about economy, but full-on crash is unlikely before elections. "Buffett indicator" is much higher than it was in 2007 (GFC) and even in 1999 (Y2K and "internet bubble).
Consumer spending has been growing much faster than income growth and debt is very high (not even counting "shadow debt" and BNPL), savings rate is low, after being flush from all the COVID "stimulus" packages and states' unemployment checks.
fortune.com - US borrowing blows past predictions in July, with debt growing over $25 billion - 2024-09-09
37 percent of U.S. adults now struggle to pay for their most basic expenses each month... (US Census Bureau survey in June-July - 41.8% of Florida residents, 40% in New York, 39.9% in Texas, 37.5% in California...)
3 out of 5 people feel "their economy" is in recession - a so-called "vibe-cession."
www.cnbc.com - 59% of Americans wrongly think the U.S. is in a recession - Aug 12, 2024
"While the economy is strong on paper, a lot of families aren't feeling the benefits, because they're struggling to afford the house they want or already live in."
"Bidenomics" is widely unpopular and she didn't yet break far enough from it, as James Carville explained. Biden campaigning at the same time for his "legacy" is detrimental, not helpful to her campaign.
nymag.com - James Carville on How Kamala Beats Trump
Harris has money advantage, but Trump campaign is spending mostly in swing states, particular push in PA and GA.
www.newsweek.com - Nate Silver Election Model Gives Trump Highest Chance of Winning Since July - NW, Sep 06, 2024
"The model also shows that the Republicans have made a net gain of between 0.1 and 2 points in every swing state other than Georgia and Wisconsin in the past week. Meanwhile, Trump leads in every battleground state other than Michigan and Wisconsin, where the candidates are tied."
Let's hope the energy, economy and markets stay "elevated" and Biden stops his "legacy tour" campaign until the elections.
__________
__________
Looking at the state of the race today, it's going to be close again, peeps:
Was always going to be - the early "celebration dance" high is over, it's just yet another "anti-vote / vote against" the last candidate who will piss enough "undecided" off just before the vote:
She did not get a real post-convention bump in the polls, neither did Trump. "Kamala-mentum" is gone. Considering who she is running against, this should have been an EC blowout already.
Both have negative "favorable - unfavorable" opinion spread.
Economic conditions are deteriorating - that's the reason the Fed is going to cut Fed rate, despite core and headline inflation still above target, though August and September comparisons against 2023 s/b easy, so official headline annual rate should come down faster, as October data will be after elections. And oil and gas are low, so it should help official inflation readings.
Stock market's "AI bubble" is starting to deflate, in fits and starts, as usual - despite expected rate cut - and "zombie" companies' stocks that went up in the "everything bubble" of 2020-2021 have been sinking fast, so this may affect "consumer sentiment" about economy, but full-on crash is unlikely before elections. "Buffett indicator" is much higher than it was in 2007 (GFC) and even in 1999 (Y2K and "internet bubble).
Consumer spending has been growing much faster than income growth and debt is very high (not even counting "shadow debt" and BNPL), savings rate is low, after being flush from all the COVID "stimulus" packages and states' unemployment checks.
fortune.com - US borrowing blows past predictions in July, with debt growing over $25 billion - 2024-09-09
37 percent of U.S. adults now struggle to pay for their most basic expenses each month... (US Census Bureau survey in June-July - 41.8% of Florida residents, 40% in New York, 39.9% in Texas, 37.5% in California...)
3 out of 5 people feel "their economy" is in recession - a so-called "vibe-cession."
www.cnbc.com - 59% of Americans wrongly think the U.S. is in a recession - Aug 12, 2024
"While the economy is strong on paper, a lot of families aren't feeling the benefits, because they're struggling to afford the house they want or already live in."
"Bidenomics" is widely unpopular and she didn't yet break far enough from it, as James Carville explained. Biden campaigning at the same time for his "legacy" is detrimental, not helpful to her campaign.
nymag.com - James Carville on How Kamala Beats Trump
Harris has money advantage, but Trump campaign is spending mostly in swing states, particular push in PA and GA.
www.newsweek.com - Nate Silver Election Model Gives Trump Highest Chance of Winning Since July - NW, Sep 06, 2024
"The model also shows that the Republicans have made a net gain of between 0.1 and 2 points in every swing state other than Georgia and Wisconsin in the past week. Meanwhile, Trump leads in every battleground state other than Michigan and Wisconsin, where the candidates are tied."
Let's hope the energy, economy and markets stay "elevated" and Biden stops his "legacy tour" campaign until the elections.
__________
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