It's Here!; The Bradley Effect And Today's Polls; A Democratic Supermajority; Warren Buffett And The Business Of Life
It's Here!
The economy jolted into reverse during the third quarter as consumers cut back on their spending by the biggest amount in 28 years, the strongest signal yet the country has hurtled into recession. The White House tried to downplay the significance of the numbers, saying they were not unexpected and caused partly by special circumstances such as hurricanes and a Boeing strike. Larry talks with James Wilcox, Professor of Financial Institutions at Berkeley's Haas School of Business.
The Bradley Effect And Today's Polls
In 1982, polls showed Tom Bradley handily winning the governors race. However, it went to George Deukmejian. Why were the polls so inaccurate? Analysis points to several possible explanations, but many concluded that racism was a factor: to pollsters, people didn't want to admit their racism, so they said they would vote for Bradley, but then didn't when in the voting booth. Now some supporters of Barack Obama are concerned about a repeat of this scenario. Larry discusses the issue with pollsters and pundits. Guests include Arnold Steinberg, veteran political strategist, Dante Chinni, opinion page columnist for the Christian Science Monitor, and Eva Paterson, President and Founder of the Equal Justice Society.
A Democratic Supermajority
The question of a possible Democratic supermajority has been raised with the November 4 election looming and Barack Obama ahead in the polls. Democrats have an open window to take the House, the Senate and the White House, with filibuster-proof numbers not seen since 1965 and, before that, 1933. As stated in a recent Wall Street Journal editorial, "A Liberal Supermajority," the expansion of government would make room for Dems to pass new healthcare legislation, launch a green initiative, but also raise taxes. Guests include Joseph Rago, Wall Street Journal editorial page writer, and Marc Cooper, a professor at USC Annenberg School for Communication.
Warren Buffett And The Business Of Life
For the first time ever, billionaire Warren Buffet officially granted a writer access to his family, friends and business life in order to write a biography about him. Alice Schroeder was given unprecedented contact with Buffett over the course of several years. She shares what she learned about the "Oracle from Omaha" his work ethic, nice-guy strategy and humble Nebraska lifestyle, despite being one of the richest men in the world. Larry talks with the author about her new book: "The Snowball: Warren Buffett and the Business of Life."