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223 - China at a tipping point

The David McWilliams Podcast

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The Inability to Deal With Unpredictability

Financial markets have become pretty sophisticated discounting uncertainty. Even when the german and austrian troops were mobilizing in order to actually go to war, the stock markets continued to trade slight discount. It's this inability to deal with unpredictability. See, i can discount lots of things and create snaros, but when you got unpredictability, you just cone and march on till it's really interesting.

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