The Fog of Finance

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Military leaders talk about the “fog of war” – the condition of fundamental uncertainty that marks combat. The recent credit and liquidity crisis has revealed a similar condition in financial markets, because no one, not even central banks, seems to understand its nature or magnitude.

Military leaders talk about the “fog of war” – the condition of fundamental uncertainty that marks combat. The recent credit and liquidity crisis has revealed a similar condition in financial markets, because no one, not even central banks, seems to understand its nature or magnitude.

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