It's Not The Event That Matters But The Response To The Event

Published: July 19, 2016, 6 p.m.

Brexit looked like the end of the world -- until people figured out that central banks would have to ease in response. Then markets turned positively jubilant with US stocks, for example, hitting record highs. The result: A world of mounting debts, weekly terrorist attacks and even military coup attempts alongside financial assets priced for perfection. Wonder which side is right?