Author Archives: robertrobb

Disorderly compared to what?

I was amused by the following from the Economist.

In a piece on Italy’s budget row with the European Commission, reference was made to relying on capital markets to impose fiscal discipline on spendthrift governments. “The danger, though,” according to the report, “is that investors could overreact. Market reactions can be both untimely and disorderly.”

As opposed to interventions by politicians and regulators, which are infallibly timely and orderly.