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September 15, 2012

Comments

I doubt it's naivete. Media companies are for-profit operations who have a significant financial interest in close elections - especially in the post-Citizens United era.

To be fair to the pundits, if one assumes that the American people are raging idiots -- which the pedigreed, "cosmopolitan" pundits doubtlessly do (without any consideration, of course, of their own roles in dumbing down the political discourse) -- then ANY election is a nail-biter, really. Particularly one between a man so *handsome* as Mitt Romney (be still my fluttering heart!) and one so, well, inescapably multicultural as Barack Obama.

Well so long as voter suppression efforts fail, then it should be a landslide, but I still refuse to take anything for granted. I live in a VERY red part of California a supposedly safe state for Barack Obama but all I ever hear whether or not I ask ( I don't) how much people hate this president.

Ah well, I call this punditry musical chairs. The problem for the pundit is that to maximize his economic success the close horse race must be called. But to maintain any credibility he or she must eventually be right about something. And there is no bigger thing to be right about than this. So they circle and circle until the music stops and they scramble to state the obvious. And oh my brothers and sisters has Romney's music abruptly died! Woe betide the last pundit to hold onto the horse race meme. You don't want to be Baghdad Ali.

I plead guilty to posting betting odds ad infinteum. But really - you are wondering who will probably win one of today's college football games, wouldn't you check to see what the Vegas point spread is?

So why doesn't the media check and report betting odds?

OK, let them go ahead and look at all the polling data, but especially look at trends from composite sources, and look at it on a electoral basis. Especially look at Nate Silver's analyses.

Then go back to the betting odds. Those guys really know how to call an election.

My guess is that both campaigns have a "it's really close" message. If you are behind, you don't want your base to give up and not turn out. If you are ahead, you don't want them to take it for granted and not turn out.

And from a non-statistical, non-electoral basis, it will be close. I mean 52% is close to 48% in most situations. hell, you round both off to 50%.

There are very few reporters, much less statisticians, in the media.

The conventional wisdom focused almost entirely on the unemployment rate. No incumbent since WWII has one reelection with a rate above 8%. Therefore, Obama was doomed. Add to this the media self interest in a close race (if the super bowl is close, people watch to the end. If it is a blowout, they find something else to do, and you have the media saying it is a close race as long as they can

I'm not sure if Eisenhower warned us about this, but it is the Pundit Industrial Complex.

If it was not a "nail-biter", their inane drivel would have no perceived relevancy.

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