In nature black swans are a rarity. In the world of politics and economics they represent rare surprise events that have significant consequences. Of late the term black swan gained renewed currency when economist Nouriel Roubini said that economic crises weren't "black swan events" but events that could be predicted by observing "macroeconomic and policy mistakes." However, in the midst of the current presidential race, the extreme weather event that was Hurricane Sandy may very well represent a black swan, one that may have doomed the presidential aspirations of Mitt Romney and along with it, the conservative dream of defeating Barack Obama.
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