What Are the Odds of an Inflation Inferno After the Midterm Elections

538 Midterm Election Model

If you are a republican or an independent who cannot stand what President Biden has done, polling trends are headed your way. The question is “fast enough?”

Nate Silver’s FiveThirtyEight Website assesses the odds.

How the Senate Forecast Has Changed 

538 Senate Forecast

How the House Forecast Has Changed 

538 House Forecast

House Stats 

  • There are 435 seats in the House of Representatives. 
  • A majority is 218. 
  • The current makeup is 224 Democrat, 213 Republican, 3 Vacant 

A net gain of five seats would flip the House and end Nancy Pelosi’s leadership. 

Competitive House Races

538 Competitive House Races, annotations by Mish

House Analysis

  • If those races came in exactly as forecast, and no other races mattered, Republicans would only pick up a net of three seats and Democrats would hold the House.
  • Defining a close race as anything with 60 percent odds or less, Republicans have a chance of 8 additional flips (yellow highlights), with Democrats an additional 5 (blue highlights).

Not Shown But Significant

  • WI-3, 78 in 100 Chance of Flipping to Republicans
  • OH-13, 86 in 100 Chance of Flipping to Republicans 
  • CA-3, 84 in 100 Flipping to Republicans 

Factoring in the three additional Republican pickups, if all the races went as forecast, Republicans would pick up a net total of 6 seats, one more than necessary.

Wild Cards 

  • Turnout will matter. 
  • And so it seems does the Supreme Court ruling on abortion. Democrat odds shifted greatly after after the abortion ruling. 

Since the incumbent party usually picks up seats, and since the following seats are in generally republican states, TX-15, AK, and KS-3 are the places the 538 model may be overstating Democrat chances. 

Senate Odds 

538 Senate Races, annotations by Mish

Senate Analysis 

  • Control of the Senate will come down to no more than 7 races and most likely only 2, Nevada and Georgia.
  • Green highlights are very weak candidates Trump had big roles in selecting.
  • The blue checkmark is a likely flip.
  • If the forecast plays out according to the script, Democrats will pick up one more Senate seat and would then no longer need Senator Joe Manchin’s vote to pass Progressive agenda.

Admit it or not, Trump does not give a damn about the party. He backed extremely weak candidates who ran on blind allegiance to him and his Stop the Steal nonsense. 

Arizona governor Doug Ducey, a Republican is very popular. Because of term limits he will step aside. He wanted to run for Senate but didn’t because Trump vowed to campaign against him, claiming Ducey did not stop the steal. Trump-backed Masters is likely to get hammered. 

In Georgia, Trump-backed Herschel Walker is involved in a major controversy. The pro-life Senate candidate is accused of paying for the abortion of a former girlfriend. Walker denies it, but Walker’s son says it’s true and his father should never have run. 

In Pennsylvania, a very weak Mehmet Oz won the Republican nomination based largely on allegiance to Trump. 

It’s possible Oz or Walker win their races, but if so, it will be despite Trump, not because of Trump.

Inflation Inferno Scenario

If Democrats hold the House and Senate, expect a barrage of highly inflationary free money handouts will pass Congress via reconciliation maneuvers.

Do not dismiss this possibility outright. 29 percent is nothing to sneeze at. Even if you think Silver is way off, even 15 percent chances happen 15 percent of the time by definition. 

Importantly, it’s not national motivation to vote that matters. Turnout in a mere 24 districts will decide whether Progressives unleash inflation or not. 

I have no way of assessing turnout in the districts and states that matter, nor does anyone else. 

Q: What are the odds of a Progressive inflation inferno?
A: The same as the odds of Democrats holding the House and Senate. My guess is about 25%. 

Closer Than Expected Isn’t a Win

Mish Forecast

The administration is going totally ape in energy policy, and Independents are more likely than not, in aggregate, to figure this out. 

The abortion issue has sailed. It’s up to states, not Congress to settle. 

Factoring in typical Republican mid-term gains, my House forecast is Republicans pick up 9 seats and the Senate remains tied at 50-50. 

I mentally place Nevada in the Republican column. If so Trump will have Republicans cost seats in Georgia, Pennsylvania, and Arizona.

But good riddance to Nancy Pelosi. I expect she will soon be gone as speaker.

This post originated at MishTalk.Com

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AZbrian
AZbrian
1 year ago
“Arizona governor Doug Ducey, a Republican is very popular”, you obviously don’t live in Arizona. Ducey is VERY unpopular and wouldn’t be elected for dog catcher. He’s not running because he knows he’d lose.
TheCaptain
TheCaptain
1 year ago
I predict it is going to be a landslide win for GOP, with many actual conservatives as the new leaders. People know where the liberals have taken us as a country and the polls have been abysmal at predicting anything of late.
fla56
fla56
1 year ago
Reply to  TheCaptain
Indeed, am asking this several times now: why does Mish who prides himself on impartiality suffer such bad Trump Derangement Syndrome?
JackWebb
JackWebb
1 year ago
On Friday, Kroger announced a merger with Albertson’s. If either party were remotely serious about “working families,” it’d have taken approximately 10 minutes to announce fierce opposition. But they won’t. Both parties are corrupt, and they are run by people who never once had to worry about how they’d pay for their groceries.
Republicans red
Democrats blue
Neither of them
Give a (censored) about you
vanderlyn
vanderlyn
1 year ago
Reply to  JackWebb
if any adult who has paid a lick of attention to reality and still believes in Blue v Red game, that’s a dope, a dupe, a shill, a useful idiot, in the jargon of adults. why would anyone expect the gov to care about you? the red team plays BS games preaching busting up big tech for god knows why, and the blue team plays that theatrical performance about banks and energy…………….for god’s sake if you have not caught on by 2022 i’d say they never will. i like the useful idiots. they are harmless. like petting zoo animals.
Lisa_Hooker
Lisa_Hooker
1 year ago
Reply to  vanderlyn
Last time I petted a zoo animal I got a couple of blood sucking ticks.
One Blue, one Red.
RonJ
RonJ
1 year ago
“Admit it or not, Trump does not give a damn about the party. He backed
extremely weak candidates who ran on blind allegiance to him and his
Stop the Steal nonsense.”
The 2020 election was corrupt. All the way down the line. Intelligence agency meddling. FBI meddling. Twitter, Facebook, Google meddling.
Election commission meddling. Fraudulent impeachment meddling. Mainstream media meddling. Pre3sidentiall Debate Commission meddling. Zuckerbucks. Add it all up. Corrupt election.
JackWebb
JackWebb
1 year ago
Reply to  RonJ
I spoiled my prez ballots in ’16 and ’20 by casting write-ins: Vermin Supreme, then Kanye West. I think the 2020 election was stolen, and I don’t say it as someone who thinks Trump ever should have been president.
MarkraD
MarkraD
1 year ago
Reply to  RonJ
I snuck in, despite angry guys glaring & holding MAGA signs, was able to caste a vote against Trump, I kept an angry facial expression and wore dirty jeans/old concert tee to fit in & not draw attention.
Hopefully I don’t get arrested for sneaking in my corrupt vote.
worleyeoe
worleyeoe
1 year ago
Reply to  RonJ
Agreed. For the most part, he backed candidates who have a real chance of winning. Very few politicians are all that noteworthy.
As for the 2020 election, outstanding writeup. As my dad said, as soon as any state modified its elections outside of the legal authority of the legislatures, then that was cheating & corrupt. Everything else was additional corrupt steps of varying degrees, especially the Zuck bucks.
And what is so monumentally egregious is the morally bankrupt MSM who completely looked the other way. And for most reasonable people, it’s not about Trump. It’s about ensuring free & fair elections.
Like most here, I hope Trump doesn’t run. But as Mish says, it would be an absolute hoot, if Trump comes through all this and is able to mount a run in 2024. Oh, the fireworks will be off the rails.
vanderlyn
vanderlyn
1 year ago
Reply to  worleyeoe
not a doubt in my mind it will be a rematch of Rump v Sleepy joe. with same results. sleepy wins by cheating or by a landslide. will be entertaining as hell. my favorite part is all the partisan dopes who take it all so serious. i cannot imagine being that naive.
vanderlyn
vanderlyn
1 year ago
biden folks are certainly ok with ULTRA MAGAS taking over house. will take the heat off him for next 2 years. this inflationary period is like post ww2 1947 to 49. pent up spending after shutting down the world with WAR on covid and incredible money printing. real inflation is very high. labor market tight. NO RECESSION. yet. the calls for deflation were wrong. let’s face reality. shadow stats and st louis fed concur on money supply. booming.
Zardoz
Zardoz
1 year ago
The republicans have fielded moonbats, kooks, and psychos while throwing tantrums and blaming every but themselves when they lose. This will never be a winning strategy.
Captain Ahab
Captain Ahab
1 year ago
Reply to  Zardoz
It is good that we all have different perceptions.
vanderlyn
vanderlyn
1 year ago
Reply to  Zardoz
the KOOKS are great for biden.
JackWebb
JackWebb
1 year ago
Reply to  Zardoz
I’d say the wacko factor is tied. Walker = Fetterman. Barnes = Johnson.
fla56
fla56
1 year ago
Reply to  Zardoz
I don’t think a party that doesn’t understand basic biology and that thinks skin colour is a person’s most important quality should cast stones. Jim
whirlaway
whirlaway
1 year ago
I think it will be 235-200 R/D in the House, and will remain 50-50 in the Senate, with PA and NV flipping to the opposite party.
I also feel it is better for the R’s in the longer run if they don’t win the Senate this time. During the next 2 years, we will see high inflation, very weak and turbulent asset markets, and the Ukraine debacle will unfold completely (assuming that the world is still intact, which itself has been thrown into doubt by the Biden-Pelosi team unleashing the possibility of a global nuclear catastrophe on not one, but two fronts).

I would expect the R’s to sweep everything in 2024 – about 245-250 seats in the House, perhaps 57-60 in the Senate, and the WH as well.

Captain Ahab
Captain Ahab
1 year ago
Reply to  whirlaway
When the ship sinks, we can blame the captain and crew.
JackWebb
JackWebb
1 year ago
Reply to  whirlaway
The polls are starting to get real, and will be a lot more so in two weeks for the reasons I gave in my long post in this thread. I think the Rs have the momentum, plus I’m starting to see normally D-biased polls show Rs up in the congressional numbers. The most valuable indicators are when a pollster goes against type. The latest to fall is CBS, which is R +2.
Some will reply that Fox is D +3, which would be correct, but that has issues. Fox has run two polls over time; this one is Fox/Beacon/Shaw, and it has a quite prounced D lean. Also, it’s one of the few polls still using registered voters. At this stage, most have shifted to likely voters, which is more accurate and which reduces the tendency of RV polls to overcount Dems.
At the moment, I expect the Rs to win senate seats in GA, PA, and NV. Here in the West, with the time advantage, I’ll be watching NH. If the R wins that one, then the Rs will take CO and AZ. That would be +5, and if that happens they’ll be well over +40 in the House. At minimum, +2 in the Senate and +20 in the House. We’ll have a much better view two weeks from now. It doesn’t look like a repeat of 2010, but it sure looks like the Rs have the wind at their backs.
link to realclearpolitics.com

Here in WA State, if the R wins an upset it will be a major earthquake. I’d be shocked if it happened.

JackWebb
JackWebb
1 year ago
Reply to  JackWebb
Here’s another one: Insider Advantage is significantly D leaning. They have the Rs +3, using likely voters. I pretty much discount “the usual partisan suspects,” including YouGov, Politico, Rasmussen, and Trafalgar. When D leaning polls are showing R leads, or even ties, it sticks out.

link to realclearpolitics.com

So why not ignore Federalist/Susquehanna? Answer: Susquehanna is a D-leaner. Why not see Fox News (D +3) as a counterweight? Answer: Fox News polls have a strong D lean. To cfheck poll leans, go here:

link to projects.fivethirtyeight.com

538 has not been a good election forecaster for quite a while, but I still trust their pollster “mean reverted bias” rankings. They help a great deal when interpreting individual poll numbers.

vanderlyn
vanderlyn
1 year ago
Reply to  JackWebb
LONDON bookies have PA at 3 to 1 for OZ to win. that’s long odds this. they might have already started voting there.
Dutoit
Dutoit
1 year ago
“very weak candidates…”
I think that these candidates are the most able to be elected. It suffices to see who was nominated for your last presidential election. Did the two candidates of the main parties the less “weak”? They were chosen by the American electorate.
If I compare with the situation in Europe, I think that here the elected leaders have a very low level….
JRM
JRM
1 year ago
Hey Mish are going to apologize when the Republicans win the Senate???
It is clear you are ignoring the Georgia race with Walker, the DEMOCAT is broiled in a SPOUSAL ABUSE case, which broke last weekend!!!! The MSM is ignoring it and it seems you are too!!!!!
Walker has climbed in numbers, since his supposed “BREAKING NEGATIVE STORY”!!!
Captain Ahab
Captain Ahab
1 year ago
Reply to  JRM
Why would MIsh apologize for a clearly supported opinion?
As soon as Walker became known for what he is, Trump should’ve pulled his support and admitted a mistake in judgement. Then, find a better candidate to run as a write-in. Doing so would galvanize voters.
JackWebb
JackWebb
1 year ago
Reply to  Captain Ahab
Write-ins never win major elections. There might be some exception that everyone’s forgotten about, but it’d only prove the rule.
vanderlyn
vanderlyn
1 year ago
Reply to  JackWebb
not never.
vanderlyn
vanderlyn
1 year ago
Reply to  JackWebb
not never but rare. i like the old days of rough politics at debates. only place i’ve seen it rough in person is SC and harlem………….in SC they feed the crowds booze to get em rowdy. most of amerika is really quite subdued place for politics. too polite for my taste. i also vote in italy where the politics is really old school. would make the clowns in fly over country usa clutch pearls and panties.
fla56
fla56
1 year ago
Reply to  Captain Ahab
Why? A better question is: why does Mish who prides himself on impartiality suffer such bad Trump Derangement Syndrome?
AWC
AWC
1 year ago
So, the two choices are;
1. Attempt to Monetize (inflate away?) the massive debt.
2. Default.
Now, which choice do we suppose any of our present flock of politicians might be inclined to choose?
OK, I know,,,,trick question. 😉
Christoball
Christoball
1 year ago
Inflation is never simple inflation, it is compound inflation. Returning inflation to 2% annually is 2% of a higher 2022 base year. How many years of 0% inflation would we need to have a return to a 2019 base year with so called normal 2% inflation???? Can anyone crunch the numbers????
PapaDave
PapaDave
1 year ago
“What Are the Odds of an Inflation Inferno After the Midterm Elections?”
I find this an odd question. Does it imply that we will have rapidly rising inflation because of the election results? Because I don’t see that being the case. After this election, it is unlikely that anything significant will change, and government will accomplish very little in the next two years. So I don’t think it will change the inflation outlook.
I expect inflation to stay high, 5+% for quite some time. But I would not consider that an “inferno”.
Some contributing inflation factors are:
A continued tight labor market.
Continuing western friction with China which will further mess with global supply chains.
Higher oil and gas prices as demand remains strong while supply is constrained.
I fail to see how this election changes any of these things.
MarkraD
MarkraD
1 year ago
Reply to  PapaDave
“I find this an odd question. Does it imply that we will have rapidly rising inflation because of the election results?”
This was his statement:
“If Democrats hold the House and Senate, expect a barrage of highly inflationary free money handouts will pass Congress via reconciliation maneuvers”
He implies that any reduction of cost to Americans is money then freed for consumption, which is correct, but at the same time the Fed’s raising rates, cash then replaces credit for consumption.
We came to a scary place in 2020, rates couldn’t go lower.
PapaDave
PapaDave
1 year ago
Reply to  MarkraD
I still don’t get it. Fed govt spending is around 37% of gdp. Though it hit 45% in 2020 because of the pandemic. Yet inflation stayed low till recently.
The primary reason for the inflation we now have is a worldwide supply shortage of oil , natgas, and food. Which has very little to do with US govt spending.
MarkraD
MarkraD
1 year ago
Reply to  PapaDave
While 2020 stimulus did play a role in inflation, you’re also right about on energy & food.
China’s shutdowns also play a part.
This is why I worry the Fed may be partially overcompensating.
PapaDave
PapaDave
1 year ago
Reply to  MarkraD
They “may” be overcompensating, but with inflation at 8% and the Fed at 4%, its hard to think that is the case.
For the foreseeable future; slow growth; high rates 4-5%; high inflation; 5-8%.
vanderlyn
vanderlyn
1 year ago
Reply to  PapaDave
i don’t get obsession with GDP when the government portion is so huge. it’s a waste of time to be concerned with it. surprised mish falls for the wall street hooey they sell to their clients and the public………
worleyeoe
worleyeoe
1 year ago
Reply to  PapaDave
It won’t. A dem will still sit in the WH in January. Reading through McCarthy’s GOP plan is a joke. Since FJB isn’t going to sign anything the GOP may pass in the House & Senate, if both are taken, they’re a lame duck Congress. And the hilarious part is that his plan mentions absolutely nothing about investigations that need to happen, which is the only thing they’ll be able to do.
I agree with you inflation expectations. PCE, which underpins Fed policy, will easily run at about 4% through 2024, IMO.
JackWebb
JackWebb
1 year ago
Reply to  worleyeoe
That’s the GOP problem. Their wins in ’10, ’14, and ’16 are cases in point. They’ve been the proberbial dog that caught the car. Their only success was to flip the Supreme Court.
PapaDave
PapaDave
1 year ago
Reply to  JackWebb
Agree with you and worleyeoe.
One of the reasons I tend to ignore the whole political debate (most of the time), is because of the stalemate between the two major parties, and the infighting within each party, which prevents many things from being accomplished.
Better as individuals to focus on the things we can actually control. I can control my investments. I cannot control what government does.
vanderlyn
vanderlyn
1 year ago
Reply to  PapaDave
correct. i observe politics for amusement. and when they direct hundreds of billions of dollars at certain industries……………..to get caught up in actually picking a side, is idiotic. in a blind test nobody could pass which parties were in power in congress or commander in chief position. i know i could NOT, nor anyone else. ti’s all a scam in this world wide empire……….
PapaDave
PapaDave
1 year ago
Reply to  vanderlyn
Where I pay attention is where those hundreds of billions are going in order to see if I can profit. Like Biden’s Anti Inflation act which directs subsidies for hydrogen. Now I am looking into Hydrogen companies and starting to acquire tiny positions as I do further research into the area.
desertsteve
desertsteve
1 year ago
Polls, who still believes in such propaganda?
TheWindowCleaner
TheWindowCleaner
1 year ago
We’re in an increasingly disintegrative trend socially, economically and politically. The only way to stop a disintegrative trend is to integrate the interests of the apparently unresolvable opposing constituencies. When the darkness is most stark is whaen you know it’s time for a paradigm change. Why? Because historically a paradigm change is humanity’s most integrative phenomenon. Why is that? Because paradigm changes always beneficially integrate opposing seemingly unresolvable dualities. Also, a paradigm change is a single/simple mental concept like helio-centrism…or Monetary Gifting, that changes an entire complexity in the temporal universe and thus is ITSELF an integration of opposites.
So you can integrate your orthodoxies with those of the liberals and survive and thrive, or, stubbornly and idiotically, not do so and sit helplessly while the smelly stuff hits the fan in a titanic way for yourself and any of your progeny. The choice…is entirely yours.
Lisa_Hooker
Lisa_Hooker
1 year ago
Yup. The liberals can wake up and smell the coffee, recognizing true facts for what they are and foregoing absurd idealistic pipe dreams. Moving forward together we all benefit.
Avery
Avery
1 year ago
With all due respect, it was Victoria Nuland and the Ukraine bioweapons labs:
I sure wouldn’t confuse that battle axe with Tulsi !
MarkraD
MarkraD
1 year ago
Reply to  Avery
She stated “Ukraine has Biological research facilities that we’re concerned Russia could convert to bioweapons labs…”
To wit, Tucker Carlson turned into “Ukraine has bioweapons” and Tulsi then parroted as reason to allow Putin’s invasion.
So yeah, Tulsi’s purdy, but either dumb as a brick or parroting what she’s told to parrot.
That line’s long since dropped, now Putin’s going after all the “Nazi’s” in Ukraine, but even the far right’s not parroting that one in America.
Makes it easy to spot where someone’s from, no one here buys that, Zelensky himself is 100% Jewish, has family members that died in the holocaust.
.
MarkraD
MarkraD
1 year ago
Reply to  Avery
“We’re concerned that Russia could take Ukraine’s biological research facilities and convert them to bioweapons plants” Became Tucker Carlson spewing “Ukraine has bioweapons”, which Tulsi then cited as reason for us to abide Putin’s invasion.
That line’s since been replaced with “Putin’s there to take out all the Nazi’s”, which even the far in the U.S. right isn’t buying.
Zelensky’s 100% Jewish, has family that died in the holocaust.
Makes it easy to spot Russians in chat though – “Nazi’s are all over Ukraine!”
.
Dean_70
Dean_70
1 year ago
Reply to  Avery
Nuland also had her phone tapped and was caught planning the next Ukraine leader before the US led revolution was completed. The recording in 2014 was authenticated and Psaki was in charge of damage control. The US placed the person discussed on the phone call following the ‘election’ by the people. He just happened to be a wealthy Ukrainian business man with strong neo-nazi ties. They used Zaleskyy to distance themselves from the strong neo-nazi movement after another ‘election’.
MarkraD
MarkraD
1 year ago
Reply to  Dean_70
“Nuland also had her phone tapped and was caught planning the next Ukraine leader before the US led revolution was completed.”
Oh, absolutely, and, she colluded with Nazi Communist space aliens to convert the entire world into cream cheese and pound cake, all documented and verified.
Lucky for us all, Putin heroically put a stop to it, those aliens were all disguised as Ukrainian seniors, women and children and he alone wasn’t fooled, so, for good measure, Putin’s troops raped and tortured them before killing them.
.
Dean_70
Dean_70
1 year ago
Reply to  MarkraD
Here is the transcript: link to bbc.com
Showing ignorance is one thing but since you have insight into aliens you must have some sort of supernatural knowledge beyond our simple human factual events.
JackWebb
JackWebb
1 year ago
Reply to  Dean_70
Word to the wise: Never confront a zealot with facts. It doesn’t work, and is a waste of time.
MarkraD
MarkraD
1 year ago
Reply to  JackWebb
Nuland, weighing in on the make-up of the next Ukrainian government as it pertained to our own diplomatic relations, specifically saying she didn’t like Vitaly Klitschko WHO WAS ELECTED, despite her opinion.
Her big “offense” in that call was insulting the E.U. with “F-ck the E.U.”
I get that you’re all excited a U.S. government official phone call was bugged, but seriously…liten to the call, or at least read the transcript.
If it’s a language thing, I’m pretty sure Google offers English to Russian translation.
MarkraD
MarkraD
1 year ago
Reply to  Dean_70
Nuland, weighing in on the make-up of the next Ukrainian government as it pertained to our own diplomatic relations, specifically saying she didn’t like Vitaly Klitschko WHO WAS ELECTED, despite her opinion.
Her big “offense” in that call was insulting the E.U. with “F-ck the E.U.”
You probably spit this link all over the internet, hoping Americans take you at your word and don’t bother listening.
.
Avery
Avery
1 year ago
The imminent destruction of humanity by climate change, Covid, the vax and nuclear war, abortion is a moot point. On the other hand, given the above, y’all should be having sex like there is no tomorrow.
MPO45
MPO45
1 year ago
What Are the Odds of an Inflation Inferno After the Midterm Elections
100%, but aren’t we in an inflation inferno already?
And as for the elections, it wont’ matter who wins because we’ll all be the losers in some shape or form. No politician is going to save anyone here from their own misery and we all know misery is coming. Just sit back and watch it or experience it.
MarkraD
MarkraD
1 year ago
Reply to  MPO45
“100%, but aren’t we in an inflation inferno already?”
Food for thought, real time rental rates are a good forerunner of inflation.
I can’t imagine the Fed doesn’t peek at these things, especially now.
Mish
Mish
1 year ago
It is crystal clear Trump personally may cost Republicans the Senate.
Anyone who disagrees has TDS.
Perhaps Republicans pull two mild surprises and win the Senate, but it will be despite Trump, not because of him.
MarkraD
MarkraD
1 year ago
Reply to  Mish
If this gets your attention, I lost my old screen name when you switched format, only recently back with this name.
Any way to get my old name back?
Mish
Mish
1 year ago
Reply to  MarkraD
You may be able to register it again – (try) I don’t know.
But a merge won’t happen.
Good luck
MarkraD
MarkraD
1 year ago
Reply to  Mish
Thanks, I already tried, I was “Frilton Miedman”, I liked that name.
It took me all this time just to get this new name, I kept trying too.
Have a good weekend.
Avery
Avery
1 year ago
Reply to  MarkraD
AOC already has dibs on the name of her favorite economist, ‘Milton Keys’.
MarkraD
MarkraD
1 year ago
Reply to  Avery
I find it funny that most folks attribute the “helicopter” meme to Keynes, while others equate Hayek to Friedman.
Adhering to any one is like eating dinner with either a fork, spoon or knife only.
ajc1970
ajc1970
1 year ago
Reply to  MarkraD
It could be the Saturday night wine kicking in, but I can’t imagine caring about this enough to ask but not enough to just create “Fri1ton Mi3dman”
JackWebb
JackWebb
1 year ago
Reply to  Mish
The only people who care about Trump are the stalwarts. I know people across the spectrum, and have yet to hear anyone whose vote will be influenced by the dude in the rear-view mirror. If he runs in ’24, that’ll be a different kettle of fish, but for the time being it’s a non-factor regardless of all the media yammering by lazy “reporters” who’d rather sit at their desks than actually talk to anyone.
ajc1970
ajc1970
1 year ago
Reply to  Mish
GA, PA and AZ could have flipped… GA & PA still might, despite Trump
AZ already lost, because of Trump
GOP is gonna get NV though (despite Trump’s involvement)
Captain Ahab
Captain Ahab
1 year ago
If the democrats lose the House and Senate, does Biden pardon Hunter, claim incapacity, and hand off to Kamala while they still have control?
Mish
Mish
1 year ago
Reply to  Captain Ahab
Good question – regarding what Biden does after midterms.
It would not at all surprise me if he stepped down after the Midterms, perhaps in 2023?
ajc1970
ajc1970
1 year ago
Reply to  Mish
That’s my guess and has been for a while… Biden steps down end of January.
Any sooner and Kamala isn’t eligible for 2 more terms (more than 1/2-term counts as a full term for the Presidential term limits)
I bet accordingly on predictit but who knows if they’ll still be around by then
Pontius
Pontius
1 year ago
Reply to  ajc1970
No way Dems run Kamala in 2024 – toxic. After mid-term, all band aids come off, running as veep also toxic.Newsome anointed one – follow the money.
JackWebb
JackWebb
1 year ago
Reply to  Pontius
I think the Ds will have a hard time getting rid of her. If that were to happen, it’ll be by means of legal bribery, i.e. a high-paying no-show “job” at some university or foundation. If she wants to be president, the Ds will have to nominate her or they’ll crack apart like the proverbial egg.
JackWebb
JackWebb
1 year ago
Reply to  Mish
I have always thought he would leave after the two-year mark. Why? See Amendment XXII.
vanderlyn
vanderlyn
1 year ago
Reply to  Mish
not a shot in hell would biden step down. Rs taking the house is a gift for him, politically. btw, inflation is raging still as it has for a long time now. nothing new will happen on this front with party changing in congress. tight labor. inflation raging. not a shot this is a recession.
Irondoor
Irondoor
1 year ago
Here’s what I hear: “Biden threatens Saudi Arabia over oil”. “Biden threatens China over Taiwan”. “Biden threatens Putin over nukes”.
Anybody listening to what Tulsi Gabbard just said a couple of days ago?
Mish
Mish
1 year ago
Reply to  Irondoor
Yes – Tulsi switched parties
MarkraD
MarkraD
1 year ago
Reply to  Irondoor
Tulsi’s currently under scrutiny for accepting campaign contributions from individuals with ties to Putin.
At the same time she also has promoted Russian disinformation to justify Putin’s invasion of Ukraine, such as asserting America worked with Ukraine to create bioweapons, in Ukraine.
Not sure the GOP will want her either…political liability there.
.
hmk
hmk
1 year ago
Reply to  MarkraD
Much like the Clintons took tons of bribe money from the Russians. Now that Gabbi Turns on the corrupt communist democrat party she is going to pursued by our non biased judicial system. Your are essentially brain dead . I don’t get how you can keep spouting your BS rhetoric and lies and not puke. Unless of course you are part of the weaponized judicial system and or CIA. What garbage you keep spouting. Ignore bottom activated.
MarkraD
MarkraD
1 year ago
Reply to  hmk
“Now that Gabbi Turns on the corrupt communist democrat party she is going to pursued by our non biased judicial system”
It’s one thing to “turn on Communists”, or, whatever it is you’re saying.
It’s another thing, entirely, to promote blatant lies by a foreign adversary – She openly accused her own government, my government, of Bioweapons offenses in Ukraine.
.
Captain Ahab
Captain Ahab
1 year ago
Reply to  MarkraD
Right!! The US has NEVER supported foreign biolabs, which is really the issue from what I hear. If a US-supported biolab in Ukraine produces ‘toxic’ chemicals, and uses them, is the US responsible?
MarkraD
MarkraD
1 year ago
Reply to  Captain Ahab
“which is really the issue from what I hear.”
You’re probably a Tucker Carlson viewer, again, he falsely claimed Nuland said Ukraine had bioweapons labs, Ukraine has medical research labs like any country does, this is how vaccines are made.
Nuland specifically stated she was concerned Russia might use them for bioweapons when they invaded Ukraine.
JackWebb
JackWebb
1 year ago
Reply to  MarkraD
No one cares about Tulsi Gabbard. No one ever did care about Tulsi Gabbard.
MarkraD
MarkraD
1 year ago
Reply to  JackWebb
And, it’s likely no one will once she’s out.
vanderlyn
vanderlyn
1 year ago
Reply to  MarkraD
tulsi is a slick huckster. she sounded good years ago. but she’s a fugazi con woman.
Esclaro
Esclaro
1 year ago
Reply to  Irondoor
Tulsi Gabbard is a deranged cult member. Her aunt exposed her as the lunatic she is. All that’s left for her is a career in porn.
JackWebb
JackWebb
1 year ago
Reply to  Esclaro
I want Sarah Palin and Alexandria Ocasio-Cortez to go on the female mud rasslin’ circuit. I’d pay a cool hundred or two for that show, as long as it was in a tavern in northern Wisconsin. LOL
MarkraD
MarkraD
1 year ago
Reply to  JackWebb
Please, gawd no, Palin’s shrill is worse than Fran Dresher’s nasal thing.
JackWebb
JackWebb
1 year ago
Reply to  MarkraD
I will also insist on hair pulling. I may well be the only person here who’s ever actually been on a female mud rasslin’ contest. It was in a tavern on a gravel road in Iowa, and for goold ol’ redneck fun it was second only to the AR-15 shootin’ match. Yee hah! Go get ‘er Caribou Barbie! Show ‘er what ya do to them wolves up in Hooterville North! Get ‘er back, Brooklyn communista! Ya got the moves, ya ‘rican slut! She’ll never see ya comin’. Yee hah!
worleyeoe
worleyeoe
1 year ago
“But good riddance to Nancy Pelosi. I expect she will soon be gone as speaker.”
Can I get a big fat Amen! She’s as close to lucifer as a politician can get, IMO.
RandomNumber1
RandomNumber1
1 year ago
Mish,
You’re missing out on a huge driver that 538 and others are only starting to pick up on: rising crime.
Even in places like hard-left NY, Republicans have some upside (where Democrats outnumber Republicans nearly 3 to 1).
I think some candidates are weak, sure… But, combine inflation and high crime.. even some Democratic voters are (at least temporarily) jumping ship this election.
JackWebb
JackWebb
1 year ago
Reply to  RandomNumber1
Crime looks very much like it will give Oregon its first R governor in 40 years. Portland has become a disaster zone, and the entire state is scared and angry about what’s been happening there.
ajc1970
ajc1970
1 year ago
Reply to  JackWebb
I’m in Oregon. Crime is part of it but far from all of it.
We had some of the most ridiculous and illogical COVID policies and the focus was on enforcement in public schools. The acronym soups (DEI, CRT, gender identity) have been integrated into our school curriculums and all the testing and standards for math & English have been dropped (at first temporarily, for 5 years, because of COVID, but they just made those changes permanent). We pulled our kids from the schools and into homeschooling when our 6yo came home and explained to our 4yo that he could be a boy or a girl or both or neither and he could change that from day to day if he wanted. We weren’t even notified of that being taught or given an option to opt-out. When the advanced-degree atheists are pulling their kids from government schools to homeschool them, you know there’s an issue for the Dems. And we’ve met so many other homeschoolers just like us…
Homeless camps and drugs have become a big issue here too.
Even all that would not have been enough to elect a GOP governor, because the state is a progressive looney bin, but the kicker is a prominent Democrat running as an independent, splitting the non-conservative vote and the pro-choice vote.
Still not a done deal… Drazan (GOP) polling around 36%, Kotek (far left Dem) polling around 32%, Johnson (“centrist” Dem running as independent) polling around 12-18%
JackWebb
JackWebb
1 year ago
Reply to  ajc1970
Of course there are other issues. There always are. But crime is THE voting issue this time around. Portland’s craziness is scaring, offending, and embarrassing the entire state. It’s why a R is leading and may well win.
ajc1970
ajc1970
1 year ago
Reply to  JackWebb
As a parent and recovering Democrat, who talks to many other parents both recovering and still Democrat, I think the driving factor for voter realignment in Oregon’s 2022 election will be COVID policies and the government schools. The marginal vote in Oregon isn’t as meaningful as it is elsewhere (because there are so many kool-aid drinkers here), but the marginal vote is going right this election, because of what they did to our kids.
People here are telling me they’d vote for Trump at this point. I don’t think people outside of Oregon realize how big of a deal that is inside Oregon.
Edit: my wife is a lifelong prochoice Democrat who’s voting red down the line in 2022 and said if forced, she’d vote for Trump over Biden right now. I’m not that far yet… I wrote in for 2020 and would still do the same. Can’t bring myself to vote for either Trump or Biden.
JackWebb
JackWebb
1 year ago
Reply to  ajc1970
One of my neighbors is a school principal in a hoity-toity Portland suburb. I’ll ask him how salient the covid issue is.
vanderlyn
vanderlyn
1 year ago
Reply to  ajc1970
i’ve travelled the world. the homeless camps in amerika in red states and blue states is like nothing on planet. this is a crumbling empire, obviously. to me.
Six000mileyear
Six000mileyear
1 year ago
I think 2022 will be as shocking to Democrats as 2016 was. Financial markets are at 52 week lows and poised to go lower. “It’s the economy, Stupid!” is the best way to explain why voters throw out incumbents.
MarkraD
MarkraD
1 year ago
Reply to  Six000mileyear
Midterms are usually contrarian to the presiding executive’s party, which makes the senate polls that much stranger.
While stocks are definitely hammered, working Joe’s are booming right now, very few folks I know care at all about stocks, which makes me boring conversation for them.
vanderlyn
vanderlyn
1 year ago
Reply to  Six000mileyear
only way Rs win is if they steal it.
MikeC711
MikeC711
1 year ago
Like most on here, I’m blessed that the huge jump in gas prices and grocery prices are something I can survive. Most Americans are not in that category. The inflation is hurting and the abysmal stock market has hurt a lot as well. I can say that anyone who does vote blue has little room to complain about current or future crises (especially related to energy and the clearly declared war on fossil fuels). If folks have forgotten what got us into this mess and are believing the promises that more of the same will get us out of the mess … then we live in a land of uninformed voters and we just have to learn to pivot when the going gets tough.
JackWebb
JackWebb
1 year ago
I’ll be surprised if the Rs don’t pick up at least 2 senate seats. It’d be more but for some real clunker candidates, but I think 538 is indulging in wishful thinking. The problem for the Ds is that they’re not talking about the issues that voters care about. If you’re a politics junkie, this link shows it vividly.

link to harvardharrispoll.com

I have a very longstanding interest in polling, dating back for about 45 years when I subscribed to a quarterly magazine that published all kinds of polling numbers. In recent years, pollsters (especially the partisan ones) game the accuracy ratings by waiting until the last couple of weeks to release the real numbers. We’ll have a much better idea by the end of the month, but I think the polls are breaking toward the Rs. To what degree is hard to say.

Two particular ones stick out.

In Wisconsin, the hard-right semi-nutcase, Ron Johnson, was +1 in the D-leaning (but non partisan) Marquette University poll. In October, Johnson was +6%. He’s responded by thumping the tub on abortion, which almost makes me laugh. See, I grew up in Wisconsin and still follow their politics. Once you get out of the city of Milwaukee and Dane County (Madison), plus a couple smaller college towns (Eau Claire, LaCrosse), Wisconsin is culturally conservative with a very large Catholic population. If Mandela Barnes thinks he’ll win over fence-sitters with abortion, I think he’ll be rudely disappointed; in fact, I think this will LOSE votes there.

In Oregon, which is right smack across the Columbia River from where I live now, it’s impossible to overstate the degree to which the sharp decline in Portland has hurt the Democrats, who are widely and accurately seen as the defenders of crime, violence, drugs, and vangrants. Looks like Oregon is going to elect a Republican governor for the first time in 40 years. It’s hard for me to capture in words just how much “public disorder” has become THE issue.

Bottom line: I’ll be cautious and say R’s +2 senators and maybe more than that. The House numbers are much harder to predict. I’ll say this much: Back in 2010, when the Ds were complacent going into the mid-terms, they lost 60+ seats. That’s not going to happen this time, but I think the Dems are going to have a lot to cry about starting November 9th. Will the Rs run away with it? I don’t think so just yet, but stay tuned. Everything I’m seeing is that the numbers are breaking toward the Rs, with the magnitude the real question.

JackWebb
JackWebb
1 year ago
Reply to  JackWebb
Correction in my Wisconsin discussion. Johnson hasn’t pushed abortion. His opponent, Mandela Barnes, has done that. That guy is going to go down in flames.
Avery
Avery
1 year ago
Reply to  JackWebb
If anyone in Wisconsin, Iowa or Indiana needs a deal on an abortion simply call the abortion tourism number of Illinois Governor J.B. Pritzker. Free stay at one of the his family’s Downtown Chicago hotels and a voucher for Illinois Tollway fees. If one gets shot in Chicago then the entire stay is comped.
JackWebb
JackWebb
1 year ago
Reply to  Avery
The Dems are treating abortion as a zero-sum game, which only illustrates how much unearned power their activists have accumulated by talking only to themselves and their media auxilliaries. The level of stupidity, unreality, and self-delusion is off the charts. The very best thing that could happen to the Ds is for the Rs to flatten them in November. It’s their only hope, although I’m not confident that they’ll condescend to hear the message.
More likely, they’ll do a Goldwater ’64 or a McGovern ’72. In that case they’ll be frozen out until the ’40s. I don’t think people fully realize that the Democratic Party and their media friends are run by playtime activist 20-something girls from Eastern liberal arts finishing schools. The smarter Dems know it, but the party has done nothing about it. There’s a very real chance that, over time, the Democrats will go the way of the Whigs, and be replaced.
worleyeoe
worleyeoe
1 year ago
Reply to  JackWebb
“Looks like Oregon is going to elect a Republican governor for the first time in 40 years.”
It’s my understanding that the 3rd candidate is a liberal and has about 16% of the vote. If no candidate gets 50%, does that force a special election?
JackWebb
JackWebb
1 year ago
Reply to  worleyeoe
Betsy Johnson, the independent, is not a liberal. Oregon doesn’t require the winner to hit 50%. A plurality in the general election will do it. That said, I won’t be surprised if Drazan hits 50%. We shall see. Outsiders simply do not realize the degree to which Portland’s craziness has affected the voters. This is THE issue in Oregon; everything else is in 10th place.
worleyeoe
worleyeoe
1 year ago
Reply to  JackWebb
Got it. Then, I certainly look forward to Drazan bringing a new hope / vision to Oregon.
JRM
JRM
1 year ago
Reply to  JackWebb
It is clear that you are not watching her ads..
She has had ESTABLISHMENT democats in her adds pushing her for the next Governor..
She is a DEMOCAT, even though she claims to be an independent!!!!
worleyeoe
worleyeoe
1 year ago
Reply to  JRM
That’s what I’ve read, but it a majority is not required to win, then hopefully Drazan can pull it off.
JackWebb
JackWebb
1 year ago
Reply to  JRM
She’s a breakaway conservative Dem, or ex-Dem. I vote in WA, but if I voted in OR I’d vote for her. She’s the sort of Dem (current or former) that I could support, a female no-b.s. William Proxmire. That guy (a WI senator from way back) was a Dem, but no one’s liberal. He was famous for going after government waste. Prox was so popular that his typical re-election campaigns cost <$100. Those the days my friend/We thought they’d never end …
Ericdude
Ericdude
1 year ago
Inflation for things you need, deflation for things you want.
MarkraD
MarkraD
1 year ago
The most influential factors right now are SCOTUS, Trump and Putin.
If Putin goads Biden into a mistake or manages to ramp up social network influencing effectively, if the SCOTUS makes another incendiary decision, or if Trump, well, says anything, it effects the race.
As to inflation, short term “handouts” are horrid for the Fed, what we really need is wage growth in conjunction with less credit dependency….we have wage growth right now, barring inflation and interest is up.
We need to reverse the trend since 1980, where the Fed has been the bandaid to real solutions, and 2 years ago they were at ZIRP.
JackWebb
JackWebb
1 year ago
Reply to  MarkraD
Abortion is not in the top 3 issues. Not only that, but the public is split 50/50 on the Roe case. Most importantly, independent voters (raising hand here) are split down the middle on abortion as a factor in their vote. The numbers very strongly suggest that the Ds have made a big mistake in how they’ve handled the issue this year. Not only is it less important than other issues, but the Ds’ stridency has turned off independents who might otherwise have listened.

Putin and Trump? No one cares. It’s not going to matter to voters.

MarkraD
MarkraD
1 year ago
Reply to  JackWebb
About abortion, most people aren’t going to get off the couch to vote if that’s the only factor, I certainly won’t, not just over that.
Where it makes a difference is women, and of those, only the one’s that wouldn’t have voted the midterms otherwise.
These races are tight, it only takes a small group to make a difference.
Also, while we here obviously prioritize economics, most people right now only see that they’re getting job offers for more money at a time their current employer’s paying top dollar.
Times are good for all but hedge fund managers.
Most people link current economics as the current presidents doing, that’s why I didn’t mention it above, even a catastrophic market crash won’t hurt regular folks before elections this year.
.
JackWebb
JackWebb
1 year ago
Reply to  MarkraD
Democrats operate under many illusions, one of which is that all women are pro-abortion. All kinds of polling shows otherwise, but nothing beats talking to yourself. There’s always a balance to strike on that one, but I’ve been voting for almost 50 years and I’ve never seen either party as insular as the Democrats have become. At some point, they’re going to have to re-learn the ground truth that, in the end, politics is about persuasion.

Both parties have been guilty of what I call “the politics of subtraction,” so this isn’t somehow blessing the Republicans. Still, the Democrats fail to realize that they are talking about things that voters just don’t care about, or more to the point, about things that will not draw people across the line. Both parties have been ignoring independent voters, the Democrats much more so than the Republicans lately. They’re going to get a wake-up call next month. Will they listen? I’m really not sure that they will.

MarkraD
MarkraD
1 year ago
Reply to  JackWebb
“one of which is that all women are pro-abortion”
Reread my reply, that’s not what I said.
It only takes a small group of added votes to sway a tight election.
Lisa_Hooker
Lisa_Hooker
1 year ago
Reply to  MarkraD
Most regular folks are being told to look around for a different job because terminations (layoffs) are baked in the cake.
Highly specialized skills in need don’t have to worry.
As much…
worleyeoe
worleyeoe
1 year ago
Reply to  JackWebb
Abortion is LITERALLY the only thing dems can run on. There’s absolutely nothing else that they aren’t under water on.
JackWebb
JackWebb
1 year ago
Reply to  worleyeoe
If you look at the details in the one link I included in my long post, you’ll see that abortion is going to round out to a neutral factor because the two sides are evenly divided and cancel each other out. Huge tactical error by the Ds in focusing on it.
MarkraD
MarkraD
1 year ago
Reply to  JackWebb
This midterm, as with most, republicans would ordinarily win by default.
Democrats, and pro-life women, by default, wouldn’t ordinarily vote.
That aside, midterms can be less adverse to the current president when economic conditions are good.
The current market is crashing, not because the economy’s bad, but because the Fed had to intervene over excess jobs creating wage inflation.
We know this means bad news later, yes, but right now, no, and most voters only see “right now”.
.
JackWebb
JackWebb
1 year ago
Reply to  MarkraD
Right now, the economy hurts the Dems in a major way. The commenters here aren’t much hit by inflation. How many people here truly worry about their grocery budget? This is a much bigger deal than you think it is.
MarkraD
MarkraD
1 year ago
Reply to  JackWebb
Not to mention gasoline, but again, it’s hard for average folks to be that worried when their pay is also up and they’re scanning want ads, seeing opportunities.
JackWebb
JackWebb
1 year ago
Reply to  MarkraD
You are clearly out of touch with the substantial number of people who are hard up against it.
MarkraD
MarkraD
1 year ago
Reply to  worleyeoe
Reread, at least my last sentence.
JackWebb
JackWebb
1 year ago
Reply to  MarkraD
They’re running on other stuff too, but they have a problem: They’re not running on the issues that voters care about. Oops.
MarkraD
MarkraD
1 year ago
Reply to  JackWebb
Um, ok, then.
TexasTim65
TexasTim65
1 year ago
Reply to  worleyeoe
They also run on the idea that they are the only party that can give Black people the American dream. Hence Biden’s comments in the last election of ‘You ain’t Black if you don’t vote for me’.
Captain Ahab
Captain Ahab
1 year ago
Reply to  JackWebb
‘Rumored’ is Russia is planning an offensive within the next 2-3 weeks. If so, and NATO steps in, that might matter to voters.
Also, I would not ignore the mass media’s ability to support Democrap, and go all out on Trump. Likely a big leak from the Mar a Largo raid, since the DOJ is fighting to keep documents from being examined. Negative news 24-7 changes opinions of the mindless masses very quickly (even if it isn’t true).
JackWebb
JackWebb
1 year ago
Reply to  Captain Ahab
For the contrary view on Uke-Russia, go here:

link to bigserge.substack.com

He thinks the Russkies will wait for the ground to freeze and and then go on the offensive.

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