Welcome to Eureka Street
Looking for thought provoking articles?Subscribe to Eureka Street and join the conversation.
Eureka Street uses the Stripe payment gateway to process payments. The terms and conditions upon which Stripe processes payments and their privacy policy are available here.
The world-wide chaos caused by the outbreak of the coronavirus has underlined a lesson that was only partly learned in the Global Financial Crisis of 2008. In a more interconnected world the understanding of system-wide risk needs to be much better than it is.
As I walk the streets of Manhattan, things seem much the same as always. Yet newspapers are peppered with references to the market 'cratering', a term that conjures the desolate landscape of the moon. A friend suggested another interpretation: 'A crater is what's left after a massive explosion.'