Haven't We Seen This Before? - Kent Ninomiya

Kent Ninomiya - It's the economy, stupid! Remember when that was the rallying cry of the Clinton campaign? That's Bill Clinton. Back in 1992 that slogan helped him defeat George Herbert Walker Bush and move into the White House. It's ironic that 16 years later another Clinton hopes to replace another Bush with the economy becoming a pivotal issue in the campaign. There are more parallels. In 1992, a war with Iraq was fresh in our minds. Most potential candidates for president assumed that would be the prevailing issue in the campaign. Since George H.W. Bush was immensely popular for his handling of the war, none of the Democratic heavy hitters wanted to take him on. Only a little known governor from Arkansas had the audacity to think he could become President of the United States. What helped him do it? The economy went south and Clinton wouldn't let voters forget it. As we elect a new president in 2008, those lessons should be heeded by the candidates. When voters are out of work, watching their portfolios wither, and unable to buy or sell a home, a war on the other side of the world becomes less relevant. The Dow plunged more than 307 points on Thursday. It's down more than 1100 points this year. Housing construction is the worst its been in 16 years with home values plummeting. Oil topped $100/barrel and the dollar is losing value against every major currency around the world. These are significant numbers reflecting pervasive issues. There is no issue more pervasive than a thinning wallet. The first George Bush made the mistake of under estimating the impact of a bad economy on voters. I doubt very much the successors of the second George Bush will make the same mistake. Kent Ninomiya