A lot of debate in UK about Council tax. It was introduced to fund local services. Campaigners now justify it by the value of the home not by the cost of those services, Yet the argument is driven by regional house-price differences, even though the cost of local services varies nothing like as much as property values do. That turns council tax from a charge for local services into a partial wealth tax. If the principle is that what you pay should rise because your house is worth more, why stop at council tax? Should you pay more for the same flight, supermarket shop or haircut? We don't price services by the value of the customer's home but by the cost of providing them. If society wants a wealth tax, it should debate and legislate for one explicitly, not repurpose council tax by stealth.

Pre 2008. Tail risk ignored by humans. We'll be fine. (Low vol). 2008-2024. Humans overweight tail risk on recency bias. Everyone's read Taleb. (High vol) 2024. Machines decide tail risk v slight so sell vol. Humans let them get on with it as this is A.I. era. (Low vol)

Try finding a MSM story that doesn't involve emotions. Either the emotions of those involved, the emotions of the reporter or the emotions they are trying to leverage in the audience.