stock_creeper's  Instablog

Obama's intrade numbers are plunging and conversely Romeny is surging as new polls show Romeny pulling ahead. Additionally, Obama's gay marriage endorsement failed to sway independents and may have actually hurt him, as I predicted would happen last week:

seekingalpha.com/instablog/926530-stock_...

(click to enlarge)

Second, if stocks rally Obama's polls will not recover.

Obama's polls keep falling because he wants to spread the wealth though higher taxes, regulation, and useless job creation programs. He's attacking JP Morgan for losing $2 billion dollars, but that was JP Morgan's own money, which they have every right to speculate, whereas Obama frittered away nearly a trillion dollars of taxpayer money on useless stimulus projects.

The CBS News/New York Times poll shows Obama's support among female voters dropping five points over the last two months, from 49% to 44%. This is attributed to the elitist attacks on Ann Romney and contraception. Americans, including women, don't want to pay for contraception when free alternatives exist like the aspirin birth control which is still used by millions of Women and just as effective.

It doesn't help that Obama and his family is too aloof. Bristol Palin, for example, had a teenage pregnancy which is not only good family values but made the McCain/Palin ticket more relatable to average Americans. If Obama were less didactic and more easygoing or capricious he would win more support among independents and even some republicans. Obama can't give a speech without putting the audience asleep with his drawn-out pauses between each word.

Obama still can't get the working, hard-working white vote and his attack ads against Romeny and Bain Capital have failed to gain traction. This is because Americans are warming up to Bain which provides a useful function for society by making poorly run companies more efficient. Up until 2008 there was a major labor glut of too many people performing slow, redundant and overpaid work. Since the overblown financial crisis a lot of jobs have been lost, but overall the US economy is better off without those jobs. Consumer spending is higher than ever, even with multi-decade low labor force participation, but that doesn't include the booming underground economy or global consumption. Leaner, better run companies means fatter profits and rising stocks. Even Mitt Romney says he's unemployed, so you can't say he's out of touch with the jobless situation. Bain capital may not have created as many net jobs as Romeny purports (or any at all), but it's hard to argue society would be better off without Bain, as the Obama campaign is realizing the hard way.

Bain creates economic value; Obama's policies haven't. The losers that lost their jobs under Bain should improve their skills to be employable in a competitive, 21st century global economy.