Obama's Former 'Car Czar' Freaks Out About His Intrade Odds Tanking

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We told you about Barack Obama’s tanking Intrade odds over the weekend. Looks like the Obama team has noticed as well.

Obama surrogate Steve Rattner — the President’s former head of the auto task force — was on Morning Joe today, and what was notable was his freak out about the usually steady Intrade odds plummeting on Friday and over the weekend. 

Here’s the chart Rattner showed on Morning Joe:

Obama Intrade

Photo: MSNBC/screenshot

As you can see, Obama’s Intrade odds were holding steady around 58 to 59 per cent until the jobs report hit on Friday. Then came that amazing, drastic plunge. Here’s Rattner breaking it down:

“Intrade, that those of us follow and many of us like, it tends to be a good predictor of things. This has been one of the most remarkable things I’ve seen on Intrade. Because Intrade tends to move very, very slowly, particularly as you’re a long way away from an election. And it was holding Barack Obama rock steady in this 58 to 60 per cent range.

“And on Friday, it went down to 53 per cent in the blink of an eye. That’s something you don’t see Intrade do very often. So Intrade is scared.” 

This morning, Obama’s odds are up 0.6 per cent to 53.6. 

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