In Denial

The WSJ gives us a peek inside the stock collapse last Thursday. The hedge fund that Nassim Taleb, of Black Swan fame, advises may have created it's own impossible event that triggered the plunge. Ok. But this kind of volatility is only possible if investors have little trust in the underlying market.

It looks like the markets are likely to lose gains after yesterday's sucker's rally based on the $1T Greek bailout. More and more it strikes me that investors are just rearranging deck chairs on the Titanic. The debt problem isn't being addressed and we're just partying until the bitter end. We're all in denial.