2023-03-24 Markets
I am comforted by noticing that at least one group of public servants are doing exactly what they are supposed to do: governing; running things. That is what three central bankers have done over the past couple of weeks. We may argue if they did the right or wrong thing. But they did their job.
Compare that to what many other dutifully elected public servants choose to do these days: stoke fear, spread lies, incite violence (generally and specifically against targeted individuals), insult the living and the dead, disregard the law, put countries in danger and simply engender chaos. They do the contrary of their job. They undue things instead of doing them.
Having people do their jobs, or not, isn’t a recipe for smooth markets or a less uncertain future. Opinions and expectations are different, and the right interpretation of facts is in the eyes of the beholder. The week was broadly positive, while worries about the solidity of the banking system persist.
[Cover: Axios; cover of the New York Post 2023-03-25]
Compare that to what many other dutifully elected public servants choose to do these days: stoke fear, spread lies, incite violence (generally and specifically against targeted individuals), insult the living and the dead, disregard the law, put countries in danger and simply engender chaos. They do the contrary of their job. They undue things instead of doing them.
Having people do their jobs, or not, isn’t a recipe for smooth markets or a less uncertain future. Opinions and expectations are different, and the right interpretation of facts is in the eyes of the beholder. The week was broadly positive, while worries about the solidity of the banking system persist.
[Cover: Axios; cover of the New York Post 2023-03-25]
