The Independent Market Observer

9/25/12 – The Romney Coverage U-Turn Begins Slowly

Posted by Brad McMillan, CFA, CAIA, MAI

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This entry was posted on Sep 25, 2012 9:13:38 AM

and tagged Politics and the Economy, Yesterday's News

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As promised, the coverage on Romney has tried to turn more favorable, with “Three Reasons the 2012 Race Could Still Change” on page A6 in the Wall Street Journal (WSJ). Notably, the turn has not been completely rounded, with the article acknowledging the problems, but the intent is there. Expect to see more—horse races are how the media makes its money.

One potential game changer is the introduction of foreign policy as a central part of the race. “Race Focuses on Foreign Policy” made the front page of the WSJ, while the New York Times (NYT) had “Republican Team Attacks Obama on Foreign Policy” (p. A11). Apparently, Obama’s lead in this area is eroding, and it represents a potential opening for the Romney team. With everything that is happening, there is the potential for a disaster abroad, which could damage the Obama campaign. This is not a guaranteed win for Romney, though, as the Financial Times (FT) points out in “Romney’s China holdings criticized” (p. 8), reminding us that Romney has vulnerabilities of his own on the international front.

Other coverage is less cheerful for Romney. Nate Silver, who I have recommended before, writes in the NYT about “A Solid Record for Polls as Election Nears” (p. A10), making the point that the current poll levels are, absent any significant changes, showing very favorable odds for Obama. Backing this up is another article in that paper, “Polls Show Movement of Boomers to Obama” (p. A11), driven largely, per the story, by Republican positions on Medicare and social security.

On balance, still a negative day for Romney. Let’s see what tomorrow brings.

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