Now is the Time to Buy Perry

As per my earlier post on Newt Gingrich’s collapse in Iowa, here is how Intrade rates the current odds for victory in the Iowa caucuses:

In essence, conventional wisdom has moved away from the view that Gingrich will emerge from Iowa as the winner, and toward the (more accurate) view that the race is a toss-up between Ron Paul and Mitt Romney. With his ground game and appeals to evangelical voters—he’s moved to 10 percent support in the latest Public Policy Polling survey—Rick Perry still has a shot at a strong finish in Iowa, but that isn’t reflected in the Intrade numbers; so far, he’s valued at about 9-to–1 odds.

Given the extent to which Perry is still a viable contender for the nomination—or at least, he’s still plausible as a nominee—then it would be silly to pass up these odds, especially if you’re the kind of person who bets on political outcome. Right now, Perry is a steal.