Best of the Democrats Conventions (Videos & Quotes)

by Ali-Asad


The Democrats held their convention last week. It consisted of some quite riveting speeches filled with pointed attacks, witty zingers and clever oratory.

With that in mind, I present to you the Best of the Convention:

1. John Kerry delivered a short but sharp speech rebutting nearly every attack on Obama.

“We are electing judgment and character and judgment, not years in the senate or on this earth.”

“How insulting to suggest that those who question the mission question the troops, how pathetic to suggest that those who question a failed policy doubt America itself, how desperate to tell the son of a single mother who chose community service over money and privilege that he doesn’t put America first – No one can question Barack Obama’s patriotism.”

“Years ago, when we protested a war, people would weigh in against us saying: my country, right or wrong. Our answer: absolutely, my country right or wrong – when right keep it right, when wrong make it right.”

Here's the short speech - the good stuff starts 4 minutes in:





2. The popular governor of Montana stole the show with his electrifying speech. He somehow managed to get people enthused using detailed policies on energy independence.

We can’t drill our way out of this - If you drilled in all of John McCain’s backyards, even the ones he doesn’t know he has…that single answer proposition is dry well .

- Brian Schweitzer (Governor of Montana)

See the whole speech; The last five minutes are especially worth it.





3. Hilary delivered the speech of a lifetime.

It makes sense that John McCain and George Bush will be together next week in the Twin Cities. Because these days it’s hard to tell them apart.

See the whole thing here.



4. Former President Clinton gave a masterful speech.

People the world over have always been more impressed by the power of our example then by the example of our power

This one is worth watching just because it was a brilliant piece of oratory. It’s here.

And that's jus' the tip.

Drilling & Rational Expectations

by Ali-Asad

Energy has popped up as an important issue in the US presidential campaign. John McCain and his campaign consider energy as one of their strongest domestic issues because the public at large wants the government to do something about the record high gas prices. Hence, McCain’s continued insistence on increasing offshore drilling. But Obama, along with most Democrats, has always regarded offshore drilling as a fraudulent policy. The argument goes that new offshore drilling will not produce a drop of oil for at least seven years according to the US Energy department. Additionally, drilling for more oil will not solve the long term problem of depleting fossil fuel reserves. On the surface, both arguments make sense. Increasing oil supply seven years from now will not impact the price of gas at the pump tomorrow. Also, fossil fuels will run out eventually, and drilling for more oil while damaging the environment does not seem like a good long-term tradeoff. But these arguments have surprisingly convincing and logical counters.

Firstly, the possibility of new oil drilling could impact the price oil and gas at the pump even if it takes several years to see that oil. How? The theory of rational expectations comes from the premise that people behave intelligently, and so people (especially oil traders) will deduce that the supply of oil will increase in the future. Separately, demand for oil will fall because of higher oil prices, which will result in investment in alternative energies and reduced oil consumption (already Americans are driving fewer miles and an analytic company predicts 500 million fewer miles will be driven in the next year). This reduced projected demand combined with higher forecast supply creates a mental image of lower prices in the future. And so, with these future projections, oil traders will sell more oil contracts than they will buy, hence reducing the price of oil today.

One could argue that the decline in oil prices over the last month is a direct result of the increased support of more oil drilling. Last month, President Bush ended the federal moratorium on oil drilling and put Congress under pressure to act. Now, Congress seems to be converging towards a bipartisan compromise that would allow for some drilling. These events have occurred over the last month while oil prices have been coming down. While causation is almost impossible to prove, the probability of higher oil supply definitely entered the thinking of market analysts and traders. People are smart. When they see supply going up in the future, they know prices will come down. So, they adjust and bring prices down now. Prices always reflect current levels of supply and future expectations.

Secondly, fossil fuels are not just yesterday’s energy source, they are today’s energy source as well. The longer fossil fuels last, the more time we have to develop alternatives. We could just stand by and wait for an alternative to become economically viable and energy efficient or we could try to lengthen the transition period from fossil fuel to wind/solar/geothermal/biofuel etc. This transition would give scientists and government more time to develop the technologies and infrastructure needed to supply the world economy.

Therefore, on balance, the argument for drilling holds more weight than the argument against drilling. Drilling will not serve as a silver bullet. If the mere possibility of drilling as helped bring down gas prices, imagine what actual drilling will cause.

And that’s jus’ the tip.

Any thoughts? Comment Below.

The Narrowing Election

by Ali-Asad

Jog your memory back a couple of months to June 3rd 2008. Barack Obama claimed the Democratic party’s nomination for President in front of a wildly enthusiastic audience. This audience had every right to feel hopeful:

"If we are willing to work for it, and fight for it, and believe it, generations from now we will be able to look back and say that this was the moment we began to provide jobs to the jobless, care to the sick…”

He looked unstoppable.

But a couple of months on, today, the situation looks a little different. An Obama victory no longer appears secure - take the electoral map. This year, the Democrats seek to expand the map and compete in very ‘red’ states. But Obama leads in these states by very narrow margins: Virginia, Montana, North Dakota, Nevada and Indiana. Additionally, Obama’s lead in states where the ‘experts’ expect him to win remains equally fragile: Ohio, New Hampshire, Michigan, Colorado and New Mexico. Obama’s success over the last several months has made him vulnerable to criticisms of over-confidence and arrogance. These attacks could cost him dearly and the McCain’s campaign understands this reality.

In the last few weeks, John McCain has focused on Obama character and demeanor by trying to mock his extraordinary self-assurance in facing the enormous challenges of the 21st century. These attacks, while in poor taste and very unMcCain-like, have brought Obama down to Earth in the polls and in public perception.

Understand this: Obama barely leads in the polls and public surveys consistently demonstrate John McCain’s high standing in terms of experience and national security. So, Obama may be doing well now but the week before the election and election day itself that will really make or break his candidacy. If Obama-enthusiasm wanes, the contest will narrow to the point of being a dead-heat, and then all bets are off. McCain just needs to hang in there because anything could still happen, and something will.

And that's jus' the tip.