Saturday, December 31, 2011

Educated Beyond Our Capacity

Ever notice how we are really good at creating our own little clusterfucks here on earth?  Back in my old Mississippi days, I heard some good old boy describe a young man who was full of piss and vinegar as "educated beyond his wits" and this is what he meant.

"In recent years, these two teams have used engineering and science skills to analyse what they call socio-technical risks, or the dangers that occur whenever complex technological systems proliferate, creating “systems of systems” that nobody understands. In early 2010, well before May 6, they released a brilliantly prescient report that predicted that a systems failure loomed."

I think the question of another flash crash in the equities market is more a question of "when" than a question of "if".

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