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Comment by jrn | Hacker News Reader

I think opposition started with Scott Sumner in July. http://www.themoneyillusion.com/?p=22379 Very good news. I expect to see the markets react tomorrow, ala balmer on a much greater scale.

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Opposition has been almost universal and started before Summers was even floated as the favorite. Here's Matt Yglesias in May:

http://www.slate.com/blogs/moneybox/2013/05/27/summers_for_f...

Ezra Klein's piece on gender that prompted the original "word" that Summers was going to be the nominee:

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/07/19/t...

Krugman pro-Yellen case before annoucement:

http://krugman.blogs.nytimes.com/2013/07/19/the-fed-successi...

Felix Salmon:

http://blogs.reuters.com/felix-salmon/2013/07/24/dont-send-s...

Wall Street:

http://www.huffingtonpost.com/2013/07/26/wall-street-yellen-...

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I read and enjoy Scott Sumner and recommend him to everyone. To suggest that he drove the opposition to Summers is bananas.

Scott Sumner (http://www.themoneyillusion.com) and Nick Rowe (http://worthwhile.typepad.com/) have done an incredible job at helping me understand money and its role in the economy even though I have no training in economics. It's worth going back and reading their archives.

and opposite side. The market will tank tomorrow by 1.5-2%.

equity futures are already up 1% during sunday's trade

http://finviz.com/futures_charts.ashx?t=ES

Depends on yellen vs kohn, but either one is better. If it's yellen I expect a response similar to japan's equity run last fall/winter, abeonomics.

Here's an in depth explanation from PIMCO as to why Summer's withdrawal will likely be very bullish for credit and equities:

http://www.businessinsider.com/el-erian-market-reaction-to-s...

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