Zero Hedge
Aug 21, 2011
It appears that in the aftermath of the recent update of Obama’s job approval polls which as we reported just hit an all time low, the market has formally priced in a 50%+ probability that the president will be limited to just one-term. According to the latest InTrade odds, Obama’s chance of being reelected in 2012 is now at its all time low, or 48.5% after soaring to a high of 70% back in May in the aftermath of the Bin Laden death at sea. This result however is far from conclusive: InTrade 2012 presidential odds for Rick Perry have risen, but only to 18.5%, Palin is at 5.5%, and Ron Paul’s chances are at 3.2% (Bachmann is at 2.5%). So there certainly is some arbitrage to be made there.
So with an Obama reelection no longer priced in by the market as a more than likely event, we wonder what is next up the administration’s sleeve to pull itself by its bootstraps out of the current popularity slump: QE3 may or may not come, but by the time election 2012 rolls around, Bernanke will need to have launched QE4 and 5, in order to simply keep the market where it is. And, obviously, any short-term boost to Obama’s popularity courtesy of exterminating most wanted terrorist #1 is now in the past, without any clear public enemies on the horizon. Which leaves the next fallback plan: declare war on a country that is on the receiving end of a media propaganda onslaught. Luckily, there are many of those. Furthermore, to refute those who claim war weariness will certainly set in well before the next election, keep in mind that as Benny Geys showed in “Wars, Presidents and Popularity: The Political Cost(s) of War Re-Examined”, in times of major economic contraction, socially adverse effects from war spending are at their weakest. Who said again that no crisis should go to waste? Now that the lost economic game shifts to the geopolitical landscape as a final continuity recourse, below we present one of the better recent analyses on war weariness and political costs of warmongering, courtesy of Geys: a required read for anyone interested in the future of US foreign policy.
wars presidents and popularity
11 Responses to “Intrade Now Pricing Greater Than 50% Chance Obama Will Not Be Reelected; And Observations On The Political Costs Of War”
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WHAT OBAMA CAN’T DO, THESE 7 EVENTS CAN EITHER DESTROY YOU OR MAKE YOU RICH
(click on my profile name to go to my blog to see my full video)
HIGH BRASS Reply:
August 21st, 2011 at 5:59 am
“”””””””””””””””””””””‘””””””””””””””””””ASSCLOWN ALERT””””””””””””””””””””””””””””””””””””
Intrade Now Pricing Greater Than 50% Chance Obama Will Not Be Reelected; And Observations On The Political Costs Of War
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Obama is finished…….stick a fork in his ass……………he’s through.
Bravo2…….out
MARK OF THE BEAST Reply:
August 21st, 2011 at 7:36 am
Scout, He is finished with elections and you know what that means. Soemone on THE WEATHER CHANNEL blew the whistle on me. Damn food police showed up at my cave last night and wrote me a ticket, took my smoked liberal nuggets, and left me two bushels of carrots and peas.
They didn’t find my Tessla thunder bolt generator down in leve 6 yet. I am preparing to neutralize HAARP. I just need a few more batteries out of those discared Odumba mobiles.
reconscoutsniper Reply:
August 21st, 2011 at 8:38 am
LMAO!!!! Good one!
Bravo2….out
facts_n_fiction Reply:
August 21st, 2011 at 8:48 am
Hallelujah!
I will donate my time and help him pack. Even unload his personal effects in Indonesia if he likes.
Good article but old news. WWIII is growing like bats leaving their caves, sharks attacking humans, Bears eating people, Dolphin families disappearing, Birds dieing of hunger and thirst and getting lost due to their radar navigational system blowing a fuse from a collapsing Magnetosphere, Florida alligtors eating children and old ladies whild in their own back yard. and Bones leave the screen porch back sliding door closed at night. You can watch the storms out the window with our night vision goggles.
They work for me. It is damn hard to see that Comet Elinin with all the area 51 UFOs bussing through my line of sight.
That’s alright….Bachman will be more than happy to continue the wars
and increase the debt….and keep Obamacare running.
billp Reply:
August 21st, 2011 at 8:27 am
And more power to the IRS where she worked as an enforcer.
He needs to prove what his immigration status is.
Palin 5.5 my ass. You know she is probably not going to blow you — even if you do vote for her. For God’s sake what IDIOT would vote for her? They should put her on the ballot and if you vote for her your right to vote should be permanently rescinded. Not really but come on, Palin??? WHY?????