If there's one thing the world needs tomorrow morning it is a suspension of the stock market

Most economists assume markets are rational. Right now it is very painfully obvious how stupid that assumption is. I worked that out when I was 19. It seemed glaringly obvious. We're paying a high price for being taught the same lesson the hard way. We can do without the volatility they create tomorrow. And no one will lose (much) as a result.

What's my justification? Simply this: I think we are in a state of crisis as serious as impending war given the potential impact on the economy over the next few years. In the circumstances a suspended stock market is a small price to pay for a breathing space whilst order might be restored.