Nate Silver has an excellent article up about jobs gains and Presidential re-election. It’s well worth the read, but it brings to mind something that’s making me nervous… the correlation between Presidential approval/disapproval and gas prices. Last year, the correlation was in the 50s. I think the further gas goes up the greater the correlation.
So, the President better get started on a break the glass plan that involves telling the CFTC to put an end to rampant speculation in the oil markets. Without it, he may find out what being an ex-President feels like.