Hey everybody, I’m traveling today, and will be out of pocket for most of the day. Please be patient; I’ll approve comments when I can. Meanwhile, here’s a really interesting post sent in by reader Don L., asking whether or not we have reached “a financial singularity.” Excerpt:
Have we reached the point where our financial markets are so complex that we no longer understand how they really work? And if so, how can we manage what we don’t understand? And I say “we” because the world’s largest, most complex finance houses now have the explicit political support of the G20, and thus the de facto political support of 2/3 of all the world’s citizens.
“Ben Bernanke, I’m afraid I can’t let you do that.”