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The Latest Opinions From Bloomberg View


November 5, 2014

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Midterm Elections

Jonathan Bernstein: "Here's my midmorning summary of what happened in midterms 2014. The way to win Congress, and quite a few statehouses, too, is to lose the White House."
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Francis Barry: "Sure, Democratic candidates got shellacked, clobbered, whipped, walloped -- pick your metaphor -- in yesterday's election. But voters also passed judgment on dozens of ballot measures, and the news there was much better."
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Ramesh Ponnuru: "That 'coalition of the ascendant' that the Democrats thought they had assembled only seems to exist in years that are divisible by four. The rising number of nonwhite voters, decreased churchgoing and liberalism among college-educated professionals may over time make the country more Democratic. But for now, the coalition is intermittent and unstable."
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Albert R. Hunt: After winning re-election last night, Representative Paul Ryan said he would seek the chairmanship of the the House Ways and Means Committee. "That post would make it exceedingly difficult for him to seek the presidency next year."
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Hunt: "The Republican-controlled Senate spells trouble for President Barack Obama; three new committee chairmen could be nightmares."
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Megan McArdle: "As one of my favorite political experts is fond of saying, 'Obama acts like he'd really rather be an ex-president.' Last night, he sort of got his wish. There's no third-act rally to hope for now."
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Law

Noah Feldman: "Is a fish a tangible object? Does a sawed-off shotgun pose serious risk of injury? Laugh if you must, but the U.S. Supreme Court is taking up these questions in a pair of cases that will form another chapter in the saga of our vastly expanding federal criminal law."
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European Economy

Mohamed A. El-Erian: "The European Central Bank has good reasons to sit tight at its monthly meeting tomorrow. And, most likely, that's what most members of its governing council would do if left to their own devices."
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Mark Gilbert: "Economists like to warn about Japanification, the risk that a country will follow the desultory experience of Japan, which slumped into deflation in 1999 and for all intents never climbed out. As Europe slides closer to deflation, the European Central Bank should heed the historical experience and the current efforts by the Bank of Japan to resuscitate growth."
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Jim O'Neill: "I've spent a good deal of my 35 years as an economic and financial analyst puzzling over Italy. ... Over the decades, the question has never really changed: How can such a wonderful country find it such a perpetual struggle to succeed?"
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Economics

Noah Smith: "This year my university has me teaching managerial economics to MBA students. ... I find myself thinking that a lot of the things MBAs learn in economics class are not of much practical use, and might even be harmful."
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News Roundup

Zara Kessler on What's Popping

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The poll result that matters: Taylor Swift's "1989" sold an impressive 1.287 million copies in its first week, according to Nielsen SoundScan.
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Population surge:
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Kelly Rowland had a baby. The gossip press is reporting that
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Robert Downey Jr.'s wife, Susan , did too -- and that Jessica Biel and Justin Timberlake are expecting.
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Meanwhile, across the pond, Benedict Cumberbatch's engagement is heralded in a paid newspaper announcement.
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Ice cream now comes in camo, courtesy of Baskin-Robbins.
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Barry Ritholtz
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(Read the news roundup)

- Dollar smashes through resistance as mega-rally gathers pace.
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- Study: Most published results in financial economics are wrong.
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- D.C. does create jobs ... on Wall Street.
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Matt Levine
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(Read the news roundup)

- KKR doesn't want anyone to know its fees.
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- Pimco had some more outflows.
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- Elsewhere in liquidity:
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