Washington may once again be careening toward an abyss of its own making, but it is not the only story worth attending to. It makes good theater, but for now we don’t know how or if it will fundamentally shape our lives.
The Edgy Optimist
You could be forgiven for missing the latest installment of market panic over the past ten days. It came and went like a summer thunderstorm — passing over the global financial landscape quickly and violently. But unlike meteorological events that inflict actual harm, the sharp gyrations of financial markets have increasingly less relationship to real-world economies and exist in their own never-never land of self-fulfilling prophecies and conventional wisdom.