Home Tags InTrade

Tag: InTrade

Just in time: A new speculative financial market, for politics!

Just when you thought the world of speculative high-finance was at a low point, there comes more silliness: a political "predictions" market loftily named the "American Civics Exchange." It's a sort of e-trade politics casino sold as a "risk transfer" opportunity for businesses. As if now that the crony capitalist leaders are out and the socialists are in, it might be cheaper simply to bet against "anti-business" policies than to lobby lawmakers to enact "pro-business" policies. In other words, if the government is going to begin charging your business for spewing chemicals into the sky or the river or both, you can make money betting that the government is going to do so and counter the cost. Genius! ... Or not.