Andrew Leonard has a good point: if Obamacare is such a disaster for the economy, where’s the market reaction?
More broadly: the perceived probability of passage, as indicated by Intrade, was only around 30 percent a month ago (which is why I’m still rubbing my eyes). So the expectations of what we’re told would be a great disaster have risen dramatically. And the market has yawned.
Monday, March 22, 2010
The Market Sleeps While the World Ends!
Paul Krugman writes.