...And they're taking control of our economy. Paul Krugman:
From the FT: stock in Berkshire Hathaway, Warren Buffet’s company, jumps every time Anne Hathaway, the actress, gets a lot of media play.
Why? The claim is that it’s the fault of robotrading algorithms, which now account for most of the market, and which sometimes rely among other things on trends in news coverage.
Over the weekend, Ashby emailed this link to me with the subject line: "THIS should Scare the Shit out of Everyone." Indeed it should.
Skynet is here.