Nate Silver getting 50/50 states right isn't that impressive at all. You would have gotten exactly the same result - with Florida as the only possible exception - by doing a simple average of all poll, something not exactly requiring great mathematical skill.
For all the complicated prediction models of political scientists, there is no way to get a more accurate result than a simple aggregate of the polls.
Exactly. Nate Silver is overrated. The notion that President Obama ever had over an 80% chance of winning is ridiculous. Granted, he was reelected, but his chances were never that high.
I should point out that Nate Silver's rise to fame was based on a statistical model he did during the 2008 primaries that completely ignored polling and was based only on demographics...and was actually more accurate than ANY polling company.
This quote makes it appear that I'm agreeing with OldiesFreak, which is obviously not the case (other than on the fact that Silver's 50/50, so hailed by everyone, was not that impressive).
As to your assertion that Silver built a statistical model "that
completely ignored polling and was based only on demographics" - please back this up with a source. I took a quick look at his 2008 Super Tuesday predictions, and that claim does not seem accurate.
http://www.dailykos.com/story/2008/02/05/450099/-Final-Super-Tuesday-Projection-2-5-08