You've gone into this period where you're trading into this vortex. You're trading on fear. If you see continued declines like this it will need some external shock to break the pattern.

Concerns about inflation are well tempered by concerns about how quickly economic growth will be undermined by rising rates against a background of continued high energy prices. When the evidence of that appears in the numbers, the bond market's low long-end yields will look justified.

You can see the distress in the market. It's in as much pain as it ever has been.

I could write an entertaining novel about rejection slips, but I fear it would be overly long.

Space is something that you have to define. Otherwise, it is like anxiety, which is too vague. A fear is something specific. I like claustrophobic spaces, because at least then you know your limits.

We'd all survive if Twitter shut down for a short while during major riots. Social media isn't any more important than a train station, a road or a bus service. We don't worry about police temporarily closing those. Common sense. If riot info and fear is spreading by Facebook and Twitter, shut them off for an hour or two, then restore.