McGovern Flips-
McGovern has switched sides and has left the Clinton camp for Obama. With a proven winner like McGovern on board Obama should be unstoppable.
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Clinton Lands Endorsement-
Hillary Clinton picked up an endorsement from the Indianapolis Star. The endorsement was for the primary and the editorial highlighted the lack of experience on the part of Obama. The two most important primaries remaining are Indiana and North Carolina. Both will be held on Tuesday, May 6th.
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Post Reports: Fossella Arrested
The Washington Post reports that Congressman Vito Fossela was arrested for driving while intoxicated. According to the report he is scheduled to appear at an advisement hearing in Alexandria on May 12th.
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Rev. Wright Honorary Degree Withdrawn-
Northwestern University has withdrawn the offer to give Wright an honorary degree this year. The offer was withdrawn in March after his explosive comments were revealed.
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Fed May End Cuts-
The Federal Reserve bank may finally stop cutting rates. This is a positive signal that our economy is regaining strength. The seven rate cuts have changed the face of the commodities market and have severely weakened the dollar.
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Petrobas Will Issue Bonds -
Petrobas, the state controlled oil company of Brazil, plans to become a more frequent issuer of bonds. The bonds will be to help fund development of the oil reserves that have been discovered. The massive find will take some time to develop but it will likely change reliance on Opec oil.
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North Carolina Governor Endorses Clinton -
The North Carolina machine continues to circle their wagons again Hillary in an attempt to derail Obama. Obama has an ability of turning Hillary foes into her best friends. Earlier in the campaign he managed to push Edwards to the Hillary camp which could not have been easy.
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Bush Stand-Up Routine -
Bush showed the sense of humor that Americans have come to love at the White House correspondents’ annual dinner. On the absence of the main candidates for President Bush stated:
“Senator McCain’s not here, he probably wanted to distance himself from me a little bit. You know, he’s not alone. Jenna’s moving out too.” He went on to say, ” Hillary Clinton couldn’t get here because of sniper fire and Senator Obama’s at church.”
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Cue Iranian Gun Boats -
The price of oil declined on Thursday due to the expected future decline of the Euro. Oil prices and the Euro have been moving in a near lock step fashion. The demand for oil is also expected to decline. The decrease isn’t substantial when in comparison to the recent gains in oil. However, it did appear that it could lead to a string of oil dips. Next week should have an inventory report showing large gains in crude stock. The Strategic Petroleum Reserves are at near full capacity. This means that the number one consumer of crude oil, the American government, won’t be a buyer for long. This brings us to the iranian gun boat part of the story. It seems as though every time oil prices take a dip and look like they may suffer deep declines due to fundamentals out come the gun boats. When there is unrest in the region oil spikes as it did on Friday. Are these gun boat tactics on the part of the Iranian government just a ploy for them to prop up oil prices? In the end it won’t matter all that much. Oil will spike when Iran is confronted with military force which is likely to happen in the near future.
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NY State Senate Swings Dem -
NY State Senate Swings To 35 Dems –
Prediction: In New York, the Democrats will have 35 State Senators after the November election.
Murdoch To Acquire Newsday, NY Post
It is reported that Murdoch is close to acquiring New York Newsday and the New York Post from the Tribune Company. This would place them alongside the powerful Wall Street Journal. The showdown between the New York Times and Murdoch becomes more interesting with this new level playing field.
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“Dream Ticket” Only Convenient -
Even the New York Times addressed the issue that a Hillary/Obama ticket may not address the needs of the party. In an article which listed positive hopes for the ticket, the almost useless combination was briefly discussed. Both candidates are likely to win their respective home states regardless of the VP slot and the “on the fence” voters may not be swayed.
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Hillary & Obama: Democratic Dream Ticket?
Many are suggesting that having Hillary and Obama on the same ticket would deliver a victory in November. Although, the tag team of Hillary & Obama would be very good at fundraising it is likely to provide a negative net result in the number of votes. A selection of a running mate is supposed to add votes not subtract. At the very least a running mate should deliver a swing state or an untapped coalition of voters. The hard core supporters of both candidates are likely to vote Democratic in November regardless of the candidate. However, the strong negatives that are attached to both Hillary and Obama are likely to chase away the rest. If a Democrat is currently voting for Obama because they can’t stand the thought of Hillary as President the fact that she could be VP is not very appealing.
Hillary & Obama is more likely to be a Democratic nightmare than a dream.
Pennsylvania Primary: The Hershey Kiss Of Death
Will Pennsylvania turn out to be the Hershey kiss of Death for Obama or Hillary? Another defeat in a big state for Obama is likely to raise questions about his strength in November. Most polling data seems to indicate that Obama will lose the primary and that the only remaining question is by how much. Our guess is that it will be very close to a double digit victory for Hillary with a very high turnout. Exactly the sort of thing her campaign needs to keep rolling. Currently, Hillary trails Obama by only a little more than 90,000 in the popular vote when Florida and Michigan are taken into account. With only Florida is included in the tally that number rises to over 400,000. Florida is all but assured of being counted but Michigan is still an unanswered question.
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McCain Returns $3 Million -
Bloomberg has reported that John McCain has returned more than $3 million to donors. That amount is the total of returned contributions to donors who had already given the maximum amount. It is also reported that he is asking top donors to donate to other committiees. Committees in Wisconsin, New Mexico, Colorado, and Minnesota were mentioned. Those four swing states are extraordinarily important to Republicans. Generally, Minnesota is a given for Democratic candidates but ‘08 could be different. The Republicans are also holding their convention in Minnesota in late summer.
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