Bin Laden's death will have little bearing on 2012

Now that Barack Obama's "Bin Laden bounce" has come and gone, the 2012 election will be won on domes

Back in May, with the 2012 election still over a year away, many were ready to cancel it and hand Obama another four years. People believed the assassination of Osama bin Laden sealed his already likely victory. There was one big problem with this conclusion: when election time rolls around and people review a politician's time in office, the negatives stand out while the positives seems to disappear.

Look at George H.W. Bush's short and sweet term.

In March of 1991, following the successful Gulf War, Bush Sr.'s approval rating reached an all time high of 87 per cent and remained relatively high for the rest of the year, according to a Roper Center Public Opinion Archive. Many of the most qualified Democratic nominees felt their efforts would be wasted against the popular president and opted out of the race, as Nate Silver pointed out in a New York Times blog. By the 1992 election, however, recession had crept in and Bush Sr.'s approval rating had fallen to 30 per cent. Bill Clinton won decisively.

The reason for this dramatic change in opinion is obvious: people forget. In the midst of economic hardship, people will forget a leader's accomplishments and the positive ways in which he has impacted the country.

What people remember is losing their job months ago and having no prospects of reversing their unemployed status. People remember inflation that makes it impossible to provide for their family. People remember the foreclosure of their house. People remember their taxes are at an all time high and getting higher every day.

This is why bin Laden's death will not determine the results of the 2012 election.

Yes, following the news that American forces had killed the wanted terrorist, Obama's approval rating increased from 47 per cent to 56 per cent in a Pew Research Center poll, a number still much lower than the response to Bush Sr.'s Operation Desert Storm.

A recent Gallup poll regarding the 2012 election, however, revealed that 39 per cent of US voters plan to vote for Obama, while 44 per cent are already willing to commit their vote to any GOP candidate - and this is still in the wake of bin Laden's death.

It seems the hype has already begun its decline. Gallup's most recent poll of Obama's job approval revealed the figure has fallen to 43 per cent. This suggests the 2012 election will not be ruled by foreign policy, and will instead be fought on domestic issues that affect voters everyday.

Granted the defeat of a sitting president is not the norm. There have been 35 elections in which an incumbent president has sought re-election, and 21 out of those 35 have been re-elected. Although victory over an incumbent president is somewhat unlikely, Obama's situation makes it no more unlikely than usual. These polling numbers paired with the 10 per cent unemployment, $4 per gallon gas prices, increasing healthcare disapproval are a sure sign that Obama is beatable.

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Calm down, everyone – of course Nigel Farage is in the running for TIME Person of the Year

The former Ukip leader has been shortlisted for the iconic magazine list.

While your mole is no fan of former Ukip leader and triumphalist frog Nigel Farage, it has to scurry to his defence in this instance. There's been a big brouhaha (ie. some people on Twitter have posted a few half-hearted opinions and crap jokes) about the bonvivant Brexiteer being shortlisted for TIME's iconic Person of the Year.

He is one of 11 contenders for the position listed by the magazine, alongside the likes of Donald Trump, Mark Zuckerberg and Beyoncé. (What a dinner party that would be. We hope Zuck puts the photos up on Facebook.)

Why are people surprised by this? Farage is the reason the UK is leaving the European Union, and by doing so has made a big impact on national and global politics. Adolf Hitler and Joseph Stalin famously won the award, so we know it's not an endorsement, simply a measure of impact. And others on this year's list suggest this too: Recep Tayyip Erdoğan, Narendra Modi, Vladimir Putin, Donald Trump – all dubious political figures who have caused controversy.

So why the big deal about Farage?

Read more about TIME's shortlist here. The winner is announced tomorrow.

I'm a mole, innit.