Talking about equity markets may seem trivial in the face of what is happening. But if EVER there had been a reason for believing how utterly DIVORCED FROM REALITY they are (here I am entirely with despairing Terry McCrann at The Australian) it is the markets' reaction to what is happening. This is more than a case of derangement: it requires the immediate intervention of government authorities to avoid the looming disaster! It seems, alas, that there are potential meltdowns in more than one social sphere.
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