When situations develop in a predictably bad direction and some people including yours truly saw it coming, at least in broad outlines, and pretty much no one took basic steps to change the trajectory, it’s hard not to marvel at our collective stupidity. I sent a little rant to our Brexit group, which is overweight in experts in banking, IT, and regulatory matter, on the Colonial Pipeline hacking debacle and the role of crypto in it. Note that as of yesterday, gas shortages were starting to stick. Local contacts said nearly all gas stations around Atlanta were out of gas, for instance. From the Wall Street Journal: