Purging the Government Could Backfire Spectacularly
The U.S. federal government manages a larger portfolio of risks than any other institution in the history of the world. In just the past few weeks, wildfires raged across Southern California, a commercial flight crashed over the Potomac, a powerful Chinese-developed AI model launched to great fanfare, the nuclear-weapons Doomsday Clock reached its closest point ever to midnight, a new strain of avian flu continued its spread across the globe, and interest rates on long-term government bonds surged—a sign that investors are worried about America’s fiscal future. The responsibility of…
Read More...