Monday, March 22, 2010

The Market Sleeps While the World Ends!

Paul Krugman writes.

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.

Were Doomed!

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