Thursday, October 15, 2009
This chart comes from the Intrade prediction market, and it shows the odds of a government healthcare plan being enacted into law by the end of this year. In June the odds were 50%, whereas today they are 17% and falling. The looming failure of ObamaCare is undoubtedly another one of the reasons that the stock market is doing better these days—whatever is bad for Obama is good for the economy.
I know some people will take offense at this, thinking it is a partisan attack, but I sincerely view these matters as extremely important. If the government gets fiscal policies wrong, or if the government creates a new bureaucracy that will end up costing gazillions of dollars and making the economy less efficient in the process, this is BIG news. The market, I firmly believe, would much rather see a smaller government than a bigger government, and healthcare is a significant part of that equation.
HT: Mark Perry
Posted by Scott Grannis at 10:38 PM