By Paul Krugman.
"For those of us who follow economic policy in general and the Federal Reserve in particular, the past week has been shocking and terrifying.
My read of economic and financial history is that market pricing almost never takes into account the possibility of huge, disruptive events, even when the strong possibility of such events should be obvious.
The usual pattern, instead, is one of market complacency until the last possible moment. That is, markets act as if everything is normal until it’s blindingly obvious that it isn’t."
https://paulkrugman.substack.com/p/why-arent-markets-freaking-out
Why Aren’t Markets Freaking Out?
byu/Interesting-Line-317 ineconomy
Posted by Interesting-Line-317
6 Comments
Markets also care a lot about profits and profits are still doing just fine.
You have to dance while the music is playing.
Same thing happen in 2008, everyone ignored the warnings until they couldn’t.
I’m willing to lose a few good weeks of earnings to keep historic gains.
Anti-Trumpers wanting everyone to hate Trump as much as they hate themselves.
Nah 💪🇺🇲
Nail on the head friend.