“Poor policy and incompetent leaders are creating massive systemic risks, and modern markets can concentrate and change their focus instantly ” for all the right reasons, for no apparent reason, or for some combination of the two.” (my emphasis)
–Paul Singer, founder of the $17 billion hedge fund Elliott Management
OK, so it’s not just me who’s a little dark this week.
As they say, truer words were never
The only gloss I’d add is, why is such poor policy continuing to be made?
To field that one, you’ve got to address who’s making the policy, and what interests they’re serving.
That one’s a lot easier to answer . . .