Efficient Markets? How Noise Drives Prices

This week was remarkable. It began with the Americans twisting Saudi arms so they would increase oil production. Nervous that there might be spigots that could actually be opened, oil prices dropped off their lofty levels. Then a decline on global stock markets was greatly exacerbated by the squeeze forced on France

Not knowing that the actions of a 31-year-old rogue had precipitated the collapse, the Fed