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In 1982 African-American Tom Bradley ran for governor of California. He lost, despite polls that showed him to be up by 12 points. Since then, analysts refer to the percentage point melt for African-American candidates on election day as the 'Bradley Effect'.
As I walk the streets of Manhattan, things seem much the same as always. Yet newspapers are peppered with references to the market 'cratering', a term that conjures the desolate landscape of the moon. A friend suggested another interpretation: 'A crater is what's left after a massive explosion.'
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