2008 Update

Yeah, I know, kick my arse, I deserve it.

But the last obstacle preventing the Democrats from driving over the cliff I mean electing Howard Dean chairman of the Party has just been breached: Tim Roemer is dropping out of the race. It's a shame, because a competitive and sharp leadership of the Democratic Party is both good for the country and especially good for Republicans, as it would force them to retain their edge and keep to the center going into oh-six and oh-eight. Roemer was the person for this, if only because he saw the underlying math of the Democrat's defeat in November in terms of the long-term underlying realignment. As he pointed out, Kerry lost in 97 of the 100 fastest growing counties.

From a markets perspective, the battle to lead the DNC has had no discernable effect on the 2008 political futures market, which currently has the two parties trading right around $50. (ie even money).

UPDATE: Tim Worstall puts it in a pithy perspective.

UPDATE DEUX: I think this page is going to have to be updated. What do you think? Personally, I'm voting for "American spotted."

UPDATE TROIS: Okay, this is perhaps a tad over the top. Blame it on the cold medicine.