Contagion Is a Policy Virus — Not a Market Disease

The Financial Media Is Whistling Past the Graveyard Earlier this month, I spent several hours on a long drive listening to Bloomberg. Call it morbid curiosity. For six hours, every anchor, analyst, and Wall Street puppet repeated the same lines: “There’s no AI bubble,” and “Contagion isn’t a real concern.” They all sounded like hostages reading from a script. God forbid they admit that this rally — built on debt, speculative euphoria, and artificially cheap capital — is vulnerable to collapse. But there’s one phrase that kept popping up — contagion. They hate it. They dismiss it. Because if they acknowledge it, they’d have to admit who caused it. Spoiler: They did. What Is Economic Contagion? And Why Should You…