by Karl Denninger
You don’t understand why The Ticker has faded to black?
Let me start with this: Why do drug dealers shoot each other on street corners?
Answer: Joe the drug dealer cannot call the cops and tell them that Jack the drug dealer ripped him off and sold him a bag of oregano instead of weed. Joe also can’t sue Jack. Thus, when the threshold of his tolerance is crossed Joe has only the use of direct force available to him because he has no recourse to the law to settle his dispute with Jack.