WHEN WILL MARKETS RESPOND? Everything is in the end politics; it just takes a long route on occasion and rather like a frog in water, markets take time to realize that the pleasant feeling of warmth is a prelude to being boiled alive. We are well into the boiling phase, but how long before it… Continue reading A HARD RAIN
Category: Debt
Fiasco
First Posted on 7th March 2021 WHY SYSTEMS FAIL, AND IT IS REALLY NOT ABOUT MONEY A winter lockdown forces us all to examine our domestic interiors, with in my case perhaps a superfluity of paper, which led me to “Fiasco”, by Thomas E. Ricks. It is a seminal description of how complex systems create… Continue reading Fiasco