We’re seeing an ongoing — and to me, pretty comical — garbage fire at NBC News over the hiring of Ronna McDaniel (or who I guess we might call Ronna X, since her last name may be subject to ongoing contract negotiation) as a paid contributor. I’ll assume you’ve seen at least some reports on the controversy. I want to add three things. First a personal aside, second a guess about what happened and third something about the structural roots of “bothsidesist” news coverage.

If you’ve followed my thinking on this you know I’ve long had a pretty low opinion of political betting markets. Their user base tends to lean right, with the built-in bias you would expect that to cause. They’re also prone to manipulation. But the biggest problem is that, in my view, they’re largely derivative of polls and the press narratives. Garbage in, garbage out. I will simply note that the wild gyrations all of them have been doing over the last three or four days provide, I think, some backing for my argument.

I’ve told you a few times about Professor Michael McDonald’s early vote analysis. He has a paywalled final analysis of the early vote in North Carolina. The upshot is that by conventional early vote analysis, Donald Trump appears poised to win North Carolina. That wouldn’t be a surprising result either on the basis of history or the current polls, which show a dead heat race with the slightest advantage to Trump.