Monday, August 1, 2011

Fine! Call My Bluff!

Remember a few weeks ago when President Obama reportedly said to House Majority Leader Eric Cantor: "Eric, don't call my bluff"? Lots of commentators said that this was a "tell"--that by referring to "my

Obama was admitting he was bluffing. Actually, his play was even worse than that. A bluff is a pretense. The bluffer knows he has a weak hand but bets as if he has a strong one in order to induce his opponents to fold. Obama had a weak hand but thought he had a strong one.


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