Thursday, June 17, 2004

Republican Bias in Blogsphere (or, 'Are Blogs Ready for Primetime' Article)

An article on the emarketer site (here) suggests blogs are a good place to advertise ---

"...75% make more than (USD) $45,000 a year.... And nearly 40% have a household income of $90,000 or higher.... 21% are bloggers themselves."

40% have a household income higher than USD $90K!!! (And, of the total population of blog readers, 21% are bloggers themselves!)

I thought I was detecting a Republican bias in the blogosphere. Was it all the corporate money following into the Bush campaign being directed (due to campaign finance reform) to independent groups flowing into Republican-leaning blogs? Do those 'Amazon donate to this blog' links I see actually work?

No. Rather, wealthier Americans tend to vote Republican, and now the statistics confirm that an American blog reader tends to be wealthier than the average Joe. (Not surprising, given the amount of time this hobby takes up --- po' folks are too consumed with keeping de wolf away from de door.)

Why do people continue support Bush, when a group of senior foreign policy experts, including a number of prominent Republican-appointed officials, basically paraphase the comment of a member of the Australian parliament, that Bush is

"one of the most dangerously incompetent American presidents in recent memory"?

Wealthy Americans do so for a variety of reasons. (And if the statistics I cited above area any indicate, they make up most of my American readership....)

One Republican I spoke to owned a real-estate mortgage company (basically, a bank).... "As long as Bush stays in the White House, interest rates will stay low, which is good for my business...." Realtors have been making a killing as a result of the low-interest rates, which has triggered a home buying boom (some would say bubble).

But it's wishful thinking to assume that keeping Bush in office will magically translate into lower interest rates or a better economy. High gas prices will eventually translate into inflation, which eventually will mean the fed will have to raise interest rates. The fed is traditionally reluctant to raise interest rates before an election. (Bush's father blamed Greenspan's pre-election interest rate hike for losing the 1992 election, believe it or not, and Greenspan hasn't forgotten it.)

Greenspan has pretty much said, however, that the Fed will raise interest rates one way or another after (or even before) the election.

Competence in the White House in all areas (esp. foreign policy) is ultimately the only way to assure continued economic prosperity (and low interest rates).