The Japan that can say "Buy"

One of the interesting side effects of this whole subprime financial crisis has been the growing assertiveness of Asian economies, particularly Japan (and I don't care what you say, Japan is an Asian economy!) It's not that the Japanese economy is doing particularly well right now. However, Japanese banks are apparently fair stable and flush with cash in comparison to their American counterpoints. After the Mitsubishi deal, some people have started talking about Japan as a "white knight" nation, one who rescues South Korea and some Wall Street titans. If this comes about to pass it will be very fitting, given that Japan went through a similar problem in the 1990's. Fareed Zakaria will prarticularly love this tidbit:

Mr. Shiozaki and others are careful to point out that no one is talking about replacing Washington as guardian of the global economy. Rather, what they envision is a world where America shares oversight of the global economy with emerging powers like China and India, as well as Europe and Japan.

With all this buzz about "pro-American" and "anti-American" we would do well to remember that the buzzword for the next few decades is likely to be "post-American."

So Close? or So Far Away?

I was reading through the post yesterday from Venice and I agree with his concern about the strength of poll numbers, the chances that things will look very different in two weeks than they do today, etc. It's an interesting morning to blog about this, what with Obama leaving the campaign trail to be with "Toot," his grandmother. Andrew Sullivan describes their relationship accurately, I think, by saying that if she passes away Obama will in essence be losing, "his last parent." His mother passed a few years back, and his grandfather and father are both gone.

Here are a few of my thoughts on Obama leaving the rallys and hooplah for a couple days, and on the polls and what they mean:

1. Polls: I think there are a couple sites, Five Thirty Eight and Pollster.com in particular that do a good overlap of poll tracking and accompanying analysis. While I understand what Venice is pointing out about the fact that Obama's unprecedented support in some states doesn't necessarily translate to wins there, what I think is worth noting is that maps on both sites listed above calculate whether states are in one column or another (or somewhere between) based on composite poll numbers... hence, not comparison to past performance in a given venue. Below are some of Nate Silver from Five Thirty Eight's thoughts on Saturday's poll numbers and the talk of the race tightening:
   

Between "Joe the Plumber", "spread the wealth", "I'm not George Bush", etc., however, McCain at least now seems to have a few somewhat more constructive talking points (in that sense, the fact that the Ayers attacks went over like a lead balloon at the debate might have done him a favor). So some of those crestfallen conservatives might have moved back into the likely voter universe...

McCain's other problem is that the polls in battleground states have not really tightened at all. Obama gets good numbers today, for instance, in North Carolina, Wisconsin, and Florida. Obama presently has something like a 3:1 advantage in advertising, and most of that advertising is concentrated in battleground states. As such, this may serve as a hedge against any improvements that McCain is able to make elsewhere in the country.

2. Leaving the Trail: I think that Obama's departure for Hawaii at this particular moment is a reasonable thing, something most Americans will understand, and potentially something that the campaign will benefit from. Why? Well, it would seem to me that it would be hard to hit hard at a guy who's currently going home to see his sick grandma for perhaps the last time, but based on the past couple months nothing would surprise me. Perhaps his grandma 0nce had tea with some terrorists and we'll hear about it from some Sarah Palin rally today. Meanwhile, the rallys will go on with Michelle Obama, Clinton, Biden, Richardson, and the whole Democratic support team swooshing in to help out in Barack's absence. I think this whole event will work out to a net neutral for the campaign, even in light of how late on the moment is.