Black Swans, Dead Cats, Live Bats, and Goodbye to All That

Had enough excitement yet? At least the stock markets are following an established script: the bubble pops, the elevator drops, for a while it stops and then investments sink to the deepest sub-basement, where they linger for a long, long time. Hello, next great depression. We know how that story goes, even if it hurts.

This corona virus is something else. It engulfs whole populations in a fog of confounding narratives. Is it no worse than a bad common cold, except for old folks already...