Markets are taking out the garbage

More than uncertainty, markets hate incompetence… that’s why this global sell-off is, in fact, so selective.

As global markets were gripped by the unfolding rout in emerging markets last week, the eye was caught by another story about a “rubbish tsunami” in Bali.

Apparently this tourist mecca’s beaches are drowning in garbage because Bali’s inadequate waste collection is overwhelmed by the amount generated by the tourists, so it gets dumped in the creeks instead and finds its way to the beaches.

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