Alan Greenspan once coined the phrase “irrational exuberance” to describe the feeling some investors get when witnessing rapidly rising stock market values and the “bubbles” they inevitably create. Today marks the end of “irrational exuberance” for Newt Gingrich. According to the RCP polling average, the Gingrich bubble has burst. Poll numbers on all fronts show Gingrich trending downward, including nationally where he has dropped 6 points since his height.
The Republican presidential race has certainly resembled the turbulent stock market by having, in the short span of just 6 months, six different front-runners for the Republican nomination. At one point we had Donald Trump rise to the top by stirring the “birther” controversy. Then we had Bachmann, Perry, Cain, and now Gingrich each take their turn at the top of the standings. Romney is the only candidate who has been steadily and consistently polling at or near the top of the pack throughout this entire tumultuous year.
Interestingly, despite Gingrich’s surge in the polls, Romney continues to do substantially better in a head-to-head matchup against President Obama than Gingrich.
However, Romney now refers to Newt as the “front-runner” and said that he expects a long drawn-out primary. Romney has said that he “never expected to win every state” so it looks as though Gingrich will be his primary competition. The prospects of long primary struggle between Romney and Gingrich delighted Obama’s re-election team in the hopes that whoever emerges from the GOP struggle will either have their reputation badly damaged or simply not have enough time to establish a strong campaign against Obama.
With the vote in Iowa just three weeks away, more Americans are now getting interested in the race. The last debate in Iowa had a total of 7.6 million viewers, that’s 38% more viewers than the previous debate! The upcoming debate this Thursday looks as if it will draw an even bigger crowd.
Romney’s timing for his interview with Chris Wallace on Fox News this Sunday couldn’t come at a better or more crucial moment for his campaign. The Wallace interview will likely be the most watched interview of the season, and I believe Romney is going to impress a lot of conservatives and independents with his command of the issues. With so many people watching the interview, it will be a great time for Romney to make the case that his business career of turning around troubled companies and the Olympics is just the kind of skill set America needs right now.
The most recent polls show that 73% Americans feel that the country is headed in the wrong direction. For the first time since America’s founding, kids no longer expect to exceed their parents’ financial situation. America appears to be in decline and poised to take its place as just another fallen superpower.
We believe that Romney is the only candidate who has the skills necessary to turn around the American economy. After all, Romney’s successful career in business was built on his ability to turn around troubled enterprises and to make them profitable again. That is what he has been doing his whole life. It’s what he is good at. Let’s put a businessman in the White House, a business man who knows how to turn things around, cut out the waste, and get things done. As Romney says, lets make America a place where “it is good to be middle class again.”