What a disastrous week Mitt Romney has had. With unemployment over 8% (and the real unemployment rate far higher), it’s incredible that Romney has fallen so far behind in the U.S. presidential election race.
This week of course also saw the announcement of QE3, wherein the Federal Reserve will fire up its printing press to inject fresh paper directly into our veins and thereby create economic growth or something. This is, in theory, good news for Obama as he will gain a few points from those independents who weigh the health of the economy heavily in their voting decisions.
As of today’s Intrade close, the odds of Obama being reelected are now an overwhelming 66.4%, up 8.2% from last week’s figure of 58.2%. In this two party race Romney of course has pretty much all of the remainder, currently holding a 33.3% chance to win, down 8.5% from the 41.8% he held a week ago.