Thursday, November 10, 2011
1 minute 40 seconds into this clip is where Rick Perry’s presidential chances flash crash. Literally. As the attached InTrade chart shows, the Perry presidential contract imploded from a prevailing level of about 9 by 60% to 3 in the span of milliseconds, and has since dead cat bounced to about a 50% decline.
Who would have thought that the vacuum tubes have now taken over presidential odds as well?
As for Perry’s presidential chances, this being America, where the population gets precisely the president it deserves, we would not be at all surprised if this epic moment of self-humiliation did not just cement Perry’s election chances. In other news, ISDA has just declared all CDS written on Perry to be untriggered as his political suicide was completely voluntary.
And the actual Flash Crash. Source: Intrade