On relativity: If, for example, we believe that Greece will be in the G20 in 7 years or that we are at the end of the economic crisis, notably in Europe, that “new oil” developments and use of coal are very positive, then, Australia’s heat index or European unemployment figures or Basel’s new liquidity rule might be (only “might” of course) weak signals that something is amiss… if we don’t believe the initial statements then those indications are strong signals of escalation, among so many others.

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