This blog was previously devoted to seeing to it that Larry Summers get to spend more time with his family. Mission accomplished! The next mission is to provide the President with sage Economic advice.
Sunday, January 18, 2009
Intrade: "Depression Likely"
They define depression as US GDP falling by at least 2.5% in 2009. Interestingly, since the Obama stimulus plan was announced, the contract has gone way up, so that the probability of a "depression" is now about 56%. The price on the "DOW to trade below 7,400" contract has also gone up...