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Tonight Mitt Romney WON the Election
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Obummer

Mish summed up the performances

Romney won the debate easily. He was confident, poised, respectful of Obama, and was willing to look at the president instead of the floor. In contrast, president Obama kept looking down, kept shaking his head, and posture-wise seemed as if he was ashamed to be on the stage with Romney. In terms of sound-bites, however, it was a blowout. Romney delivered, Obama didn't. If you are an Obama supporter who sees it differently, then you are playing mind-over-matter political cheer leading.

Did either candidate really say anything we did not already know? The answer is "not really"

http://globaleconomicanalysis.blogspot.com/#O5Ada9rWZpdAesmb.99

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"Mitt restored the nations hope and optimism... President Mitt Romney -- sounds great! "

First thing we ever agreed on! LOL!

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Obama has done nothing for the middle class and especially the poor. He goes on his million dollar vacations, has his lavish parties at night with lavish food and meanwhile people are being evicted. He has demanded nothing from the banks. The last settlement, I believe the banks had to pay 25 billlion was a give away for them.

And the way he performed last night is the way he's been performing for his entire term. The debt ceiling fiasco last year was a disgrace.

The Glass Steagall Act enacted during the Roosevelt administration was repealed under Clinton.

I'm not a Romney fan, but the middle class has no one truly on their side.

I am a little surprised that there isn't more national discussion about Romney's tax policy relating to the mortgage interest deduction. He hasn't been very specific about his plan for the deduction, only hinting that deductions might be capped at 17K. Wouldn't that be a total disaster for real estate?

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bingo streetsmart.

ANd the inconvenient truth is the United States like it or not is a "Company" and no bigger time do we need someone who knows how to run a company.
Unfortunately, as charming and charismatic as I find Obama, he doesn't know how to economically run this company.
Most disturbing is after 4 years, he didnt learn how to run the company. ANd his posture and demeanor in his answers showed he still doesn't understand the economics he is pitching.

Europe is not the model to strive for either. This country is full of many ex europeans and generations of who left to get away from the european model.

It's still going to be a long month. Momentum will go back and forth a few times still.

Matt I don't believe for one second that he's on the side of the middle class. But Obama is out to lunch.

As I said the middle class has no one. People who are underwater should have gotten some relief for starters. And yes I did think that Obama ignored the economy and put first priority in getting the health care law passed.

With Romney, he'll be on good behavior the first term. Still don't know if I'll vote for him.

The liberal media has given Obama a free pass on everything.

>And you really think Gordon Gekko -- er, excuse me, MITT ROMNEY -- who's made a career out of outsourcing middle-class jobs overseas, is really on the side of the middle class

Matt, I actually understand your feeling with your union background, but otherwise this is a silly point that really has no traction.
If the business trend of the market was to outsource those jobs and every competitor was doing it, you'd have to be moron not to unless you wanted to go bankrupt.
GM eventually had to buy parts from China. You adapt to the market or die.
If Obama didnt pander as well to Goldman Sachs and the like, this point might have 1% of traction.

Since I am a 3% I wholeheartedly support Mitt.
Eff our re-distributor in chief.

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wall street 2 - Gordon Gekko was redeemed, and bud fox, the bleeding heart from part 1, was just a womanizing libertine...

careful where you draw your analogies.

And yes, calling romney a job outsourcer during that time... you may as well accuse him of breathing and pooping as well.

i vote for Mitt. he says a lot, but refuses to say anything specific. he specializes in making a buck on other people's backs. so forget the middle class and the taxes they pay, indians/chinese will pay the taxes.

As far as the Iraqi war goes, Obama always claims he was against it, but he never went on record and voted against it. He once gave a speech to a bunch of radicals about the war and said he was against it. But when one gives a speech to radicals, you don't say you're for a war.

That said, in 2006, Obama posted on his website that he agrees with George Bush on his war policies. But when he ran for president he erased this from his website. Bill Clinton mentioned this when Obama was running, that he erased it form his website and then exclaimed, "What kind of fantasy is this" And then the media accused Clinton of calling Obama's campaign a fantasy. Boy did the media come down on Hillary.

"Reny sprint is down today."

What else is new, you'll be in assisted living by the time Sprint hits $10. LOL!LOL!LOL!

Anyone remember this exchange from "Outsourced?"

Quick, Quick...
Its a supervisor demand.

Give it to me. Hello?

You got to be kidding me...
I'm buying a freaking American eagle from a company in that supposed to be in America
and I get India?

I understand that you're upset, sir.

No, you don't.
Last month I lost my job at the plant where I work for 22 years because the whole operation was in Mexico.
My brother had to leave town because of no job.

I know how you feel, sir.

No, you don't. You have a job.

Sir, please don't hang up. I have a solution for you.

What?

Please understand that all American are upset about outsourcing...
so we have located an American made version of all our products.
If you have a pen, I will give you the website of an American company that makes an eagle statue very similar to ours, same size, same material.

Only theirs are made 100% percent in America.

Well, thanks, I appreciate it. But is the price the same?

No, sir, there’s is $212 more.

{Pause}....alright

Thank you sir, may I have your credit card number?

> Romney delivered, Obama didn't.

100% agree. On health care Romney just killed Obama pointing out the differences of approaches and results. Obama tried to answer but couldn't.

> Only if you're in the top 3%. Otherwise, you're pretty much fucked.

you think that under Obama the 97% is "not fucked"??

> People who are underwater should have gotten some relief for starters. And yes I did think that Obama ignored the economy and put first priority in getting the health care law passed.

every single young household, say with head of household younger than 35 or 40, who had to face the bad side of the housing bubble (housing cost inflation) should have gotten rent or mtg relief.

Obama's policies are devastating to the middle class. It amazes me how people like Matt are totally brainwashed by big-government liberals and believe the most ridiculous things. The middle class will be much better off under a Romney administration.

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W67 will stay the course on sprint at $10/share!!!!

You're beginning to sound a little desperate, I guess that's because Sprint hasn't done anything in the past couple of months, other than go down!!!!!!!!!!!!

You can use your profits to by prune juice! LOL!!!!!!!!

If you let medicare and social security maintain as is they will be bankrupt in no time. And all the massive government spending on education the last 30 years has produced zero improvement in education results. Yet foolhardy big-government liberals just want to keep taxing and borrowing and spending . . .

Anyone have any opinion on how Romney's tax policy would affect real estate? Any idea how big a drop we would be in for? If any?

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I didn't watch the debate so I can't comment, but to correct LICC, the federal government spends 6x more on defense than on education.

http://www.usfederalbudget.us/education_budget_2013_2.html

Gets about the same return, I'd say.

Defunding PBS is bad enough but Mitten also threatens to gut the EPA & Planned Parenthood. Yes, the system is horribly skewed & broken & already sold & delivered to the special interests but I feel that Obama at least still has some feeling for the little guy. My fear is that with Mitten, we'll be on a tobogan ride to HELL.

I don't think Obama has one iota of feeling for the little guy.He had a lot though for the bankers. He's an egotist to say the least; he has turned his back on his people. Even black leaders like Cornell West feel like they're been kicked in the gut. Obama wants to party and wallow in himself.

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"Capitalists= good for markets

Socialist= bad for markets

It's that simple"

But the stock market bottomed out two months into Obama's presdency. He must be the greatest "Capitalist".
Back to the debate, Obama was really terrible last night. Mitt won hands down 1-0.

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Stock market up today due to Romney win.

I am not thinking specifically of NYC real estate, but more nationally. If Romney were able to pass his tax plan as currently proposed/implied (rates cut 20%, deductions capped at 17K). The mortgage deduction would be severely limited. A 350K mortgage at 5% would maximize the 17K deduction, and would eliminate deductions for state income tax, and charitable givings.

It is just an interesting policy given that the FED is doing everything in its power to prop up real estate prices. I would think that this would cut real estate values by 10% . Considering that over 75% of medial household wealth is in residential real estate, this might be something that voters would be interested in. I don't think that banks or the FED's MBS portfolio would do very well if this happens.

Everyone seems to say...well it will never happen. Well if it doesn't happen then Mitt is cutting revenue and adding to the deficit and debt, which he is quick to say that he is not doing.

Anyone else have any thoughts on this? Would it not have as large an impact on RE prices as I assume?

"Capitalists= good for markets / Socialist= bad for market"

Maybe, but historically the stock market performs better under Democratic presidents than under Republican ones.

Just a fact.

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Right... Mitt is not cutting revenue if and only if he eliminate the mortgage deduction...which will do what to real estate values?

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steve- that is not correct. Total government spending in the US (federal, state and local) on education for FY 2013 is $973 billion. Total US military spending (military defense, veterans affairs, foreign aid, etc) is $902 billion.

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Excuse me, but in his closing statements, didn't Romney embrace the Constitution...the same one that he feels does not protect gay rights? That is not my constitution! Sorry,but if you are going to tell me how to live, what to believe in, and what I can do with my body...it doesn't matter how good you look or how polished you sound!

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Mitt Romney won the debate, Obama lost the debate.
One or more of the above statements is true.
We saw today the Democratic spin machine attempt to paint it otherwise, but why and for what purpose?
Does anyone really believe there are undecided voters out there?

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come on. you watched that and cant tell who won?

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I understand in the next debate Obama has issued an executive order allowing him to bring a tele-prompter.

Big Bird just told Obama to get lost:

http://www.nypost.com/p/news/national/sesame_street_wants_sOrtPKI9Zrz2FgrligZJEP

WASHINGTON – President Obama has ruffled some feathers at PBS by putting Big Bird in a TV ad attacking Mitt Romney.

“We have approved no campaign ads, and as is our general practice, have requested that the ad be taken down,” Sesame Workshop, the PBS-affiliated non-profit behind Sesame Street, said today in a statement.

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That's not true, LICC. Total public school expenditures are $597 billion; the average per-pupil expense is $12,744.

http://www.edreform.com/2012/04/k-12-facts/

Do you think that lowering that figure would help things out?

You will note that tuition alone at the best private universities is around $30,000 a year, so there's obviously an expenditure gap.

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The 'best' private schools probably have the best students, not the children of crack addicts.

Just to put things into perspective....

At the high school I went to (Thomas Wooton in Rockville MD) 95% of the kids go to college. Not true for neighboring DC.

steve- I gave a FY 2013 figure, you gave 2010, and I don't think yours includes all costs, and it is only K-12.

http://www.usgovernmentspending.com/year_spending_2013USbn_13bs1n_2024#usgs302

And yes, we would be better off reducing the spending. The U.S. has massively increased education spending the last 35 years, with no material positive results. Too much of the money is wasted on administrators and lavish union benefits, to the detriment of the learning process.

Read again, LICC - the total for primary through secondary is $591.6 billion, which means it has actually gone DOWN from 2010. The $916.7 figure includes higher (college) and other education, presumably grants and the like for research, which is an entirely different matter.

No argument that schools have too many administrators and lots (but not all) teachers are overpaid, but that would really call for a reordering of priorities rather than just spending less. It happens that the best public schools, such as the ones I was fortunate enough to go to, are very good.

Here's something interesting:

http://www.gazette.net/article/20120622/NEWS/706229668/1122/damascus/Three-Maryland-school-systems-among-top-five-in-per-pupil-spending&template=gazette

I went to high school in Montgomery County; they spend less per pupil than NYC. But they also don't have to deal with language barriers, very low income students, crime, etc. So I'm not sure that just comparing numbers will work; the problem is far more complex.

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all i have to say is thank god for randi weingarten and michael mulgrew who are truly doing god's work for our community. their tireless dedication towards the betterment of our students, the sanctity of enriching through knowledge and their overall efforts and devotion to making public education the model for all is just without peer.

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well, the system is completely broken. funding isn't the issue, it is due to all the blight and bloat but its so far gone any "reforms" will be beat back by the inmates. all to feed the beast. cutting back funding will surely hurt but its only because most of the budget gets eaten up in all the wrong places...

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If funding is cut by converting lavish teacher pensions to defined contribution plans, having teachers pay a reasonable amount of health care premiums, and streamlining administration to reduce headcount, it should not negatively affect educational outcomes.

its interesting, in nyc, some of the strongest advocates for reform and choice comes from the poorest neighborhoods where students and parents are left with almost zero options. pensions are certainly an issue from a budget perspective, but much deeper issues exist in the inability to address failures at every level.

S up big on takeover talk. where be the naysayers??? crying under the stock charts.

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I don't have any problems with LICC's suggestion, but I'm not sure that that will reduce spending overall all that much. In NYC maybe, but not throughout the country.

Unless there's empirical evidence otherwise.

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I have no party affiliation and have a general visceral dislike of politicians as a class. Biden did not do well at all. He was going for aggressive (like Romney) but came off as vulgar, tried to lead the debate (like Romney) but only succeeded at obnoxiously undermining his opponent. He came off as what he is - a vulgar sleazy lowlife.

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Was thinking how pointless VP debates are; then recalled how Cheney brought the country to its knees

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