- Predictions markets fail to win the gold. Blame it on Rio.
- "Inside the Wayne County morgue in midtown Detroit, 67 bodies are piled up, unclaimed, in the freezing temperatures. Neither the families nor the county can afford to bury the corpses. So they stack up inside the freezer…You can smell the plight of Detroit."
- A very good video profile of Tyler, who was honored yesterday at GMU for his many contributions to scholarship.
Congratulations to Tyler! If there’s some in the Economics Department at GMU who fully deserves to be honored for his scholarship, it’s CERTAINLY Tyler.
I have the answer to Paul Kedrowski’s question:
http://www.midasoracle.org/2009/10/02/chicago-wont-have-the-olympics-in-2016/
Chicago won’t have the Olympics in 2016.
Conngratulations to Tyler on his well-deserved award.
Well, Rio was the second choice of the prediction markets, so they didn’t perform that badly in this regard. The mystery is how they mispredicted Chicago’s fate so badly. My assumption is that Obama still carried some mystical power that led too many bettors to assume he could pull this off.
Was there a way to bet specifically against Chicago withoug having to bet on Rio, or to bet that Chicago would finish last? That was my prediction all along.
Or, don’t blame the Olympic issue on Rio: Blame it on the United States, and in particular our inane border control system.
I like my wife’s idea- the city should sell the corpses to a medical school.
Re Olympics, I believe this was a case of a speculative feedback loop. A leading position in the market sends the signal to speculators that other speculators might know something. Thus the Chicago trade was yet another financial bubble. We will see how its bursting affects the real economy in the coming months….
Are burial expenses considered part of the cost of living?
Alex, thank you for posting the video of Tyler.
PS. You should post more.
Comments on this entry are closed.