Obama's Bursting Bubble
Ben Domenech ·
October 14, 2012 at 3:17am
Via Sean Davis, a pop quiz: which of the below is Barack Obama's Intrade contract, and which is the 2001 NASDAQ bubble bursting?
Sometimes, living inside a bubble for too long can be disastrous.
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Comments:
Aug '10
Re: Obama's Bursting Bubble
Transom Man !
NASDAQ is a great metaphor.
Re: Obama's Bursting Bubble
The behaviors of complex systems in collapse...
Ben Domenech: Via Sean Davis, a pop quiz: which of the below is Barack Obama's Intrade contract, and which is the 2001 NASDAQ bubble bursting?
Sometimes, living inside a bubble for too long can be disastrous. · · 16 minutes ago
Jun '10
Re: Obama's Bursting Bubble
The NASDAQ bubble burst in the spring of 2000 - not 2001. Even so, a clever comparison.
May '10
Re: Obama's Bursting Bubble
If some scale were provided for that Intrade graph it would look less scary (for Obama), since it's a rise from high 50's, into the 80's, and back to low 60's. Still a decent place to be.
I happen to think it's wrong, however. I'd stick him in the low 40's.
Jun '10
Re: Obama's Bursting Bubble
This morning's Rasmussen report indicates FL, NC, and VA continuing to trend toward Romney. A victory in OH could seal the deal. RCP now shows the battleground shifting to PA and MI. Folks, it's slipping away for the incumbent.
Jun '12
Re: Obama's Bursting Bubble
But... but... but... Intrade users have skin in the game! They can't have been wrong when they went overwhelmingly for Obama!
/sarc off
I never trusted Intrade, and still don't. It's just not a reliable indicator of anything except what stupid things a self-selected group of people will spend their money on. And considering the stupid things people buy off TV, I have a very low opinion of some people's spending choices.
Jun '11
Re: Obama's Bursting Bubble
I shorted Obama at $7.80
May '12
Re: Obama's Bursting Bubble
They say a picture is worth 1000 words. This one could suggest that Barack Obama may turn out to be the pets.com of presidential electoral politics.
The trend demonstrated by the graph definitely seems to be favoring Romney/Ryan. We can only hope that the "crash" illustrated herein is made reality on November 6.
On Nov 7th maybe Obama can seek solace from the now re-branded pets.com sock puppet who may be able to teach him how one can find purpose in life after your bubble bursts.
Here's an aside for anyone interested in the history of internet business.
The demise of pets.com resulted in a loss of a $300M in investement/venture capital. In the 20/20 rear-view of history it was found to be a niche company without a defined business plan or sense of how to operate in the "real world" of the competitive marketplace. Pets.com and it's operators succeeded for awhile because they knew how to create a great story at the right time but in the end they failed because they knew nothing about how to operate an enterprise beyond making up a story.
Sound familiar?
Edited on October 14, 2012 at 8:19pmOct '12
Re: Obama's Bursting Bubble
Can't tell which is which. I'll say ... um ... the top one is Obama? It's a great metaphor and history will remember them similarly — especially when the Pets.com president finishes his crash.