Two of my favorite topics are politics and economics. I was thinking recently about the race for the Democratic nomination, and how it is going
exactly as could be expected if viewed through the prism of economic theory.
At first, the race was about the Democratic retreads who were running. Nothing much happened because the candidates who announced early had nothing
to offer (little or no market value). Howard Dean came along and gave the
appearance of value (a fierce anti-bush agenda). Dean could be compared to
an internet stock circa 1999, he attracted dumb (impulsive) money from people who bought into the hype that Bush could be beaten by someone who simply articulated all the ways that Bush is bad.
The smart money remained on the sidelines in advance of a new candidate or two to fill the vacuum (market opportunity). A few months ago I would have thought that the one to fill the vacuum would have been Hillary Clinton, but I’ll more than happily accept General Wesley Clark in that role. Now the smart money (big donors) is coming off the sidelines and backing Clark as the only electable choice on the Democratic side. Recent polls have told the smart money that it is a good idea to double down on Clark.
Why is Clark the only electable choice? Read an interview with Clark by Josh Marshal here to get some idea.
I was watching the chairman of the Republican National Committee Ed Gilespe on Hardball the other day. “The American people realize that we live in a different world since 9-11, and they do not wish to return to the wishy-washy foreign policy of the Democratic Party.”
Remember that line as you will hear it over and over again until your ears bleed.
Never mind that A) That’s fine if by wishy-washy he means rational, considered, thoughtful and effective, and B) I haven’t done any space travel lately. I live here
The only way out of that is to run someone who can neutralize that. General Clark is the only Democrat who can do that.
Maybe I haven’t persuaded you. Maybe you are a visual person. Fine.
Imitator
The Real Deal
