From Davos 2007 (the one before the last one):
"…a large hedge fund fails due to sudden asset devaluations. Herd behaviour causes global liquidity to dry up. Neither the G8 nor the G20 is able to coordinate a response. Central banks inject liquidity ad hoc, creating inflationary risks. As black box models fail to adjust, financial contagion continues."Page 14, "Global Risks, 2007"- World Economic Forum; January, 2oo7.
Pretty good call. Now, if you'll excuse me,
"Il faut bien que je les suive, puisque je suis leur chef."*
Phrase historique prononcée à Paris - 1848
*Schoolboy translation: "I must follow them for I am their leader."
ABBA demonstrating improper use of tin foil.