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Are the financial markets rational?  It's a tough claim to make as share prices and bond yields zoom up and down during a single day, hour, or even second, sometimes without any obvious reasons.  Yet for the first time in human history, the markets may be approaching the ideal of rationality that economists have long cherished.

Certain About Nothing In "US Corporates Shy to Offer Guidance," the Financial Times reports that those who are at the economy's front lines have a less than clear vision of where things are headed:

"Bitcoin-Central got the go-ahead thanks to a deal with French financial firms Aqoba and Credit Mutuel. The exchange is one of many that swaps bitcoins, computer generated cash, for real world currencies. The change in status makes it easier to use bitcoins and bestows national protections on balances held at the exchange."

"Passwords control your life. From accessing work email and stock prices on the go to checking a grocery store shopping list, passwords have become the primary source of identifying who you are. They are arguably more important than your driver's license. But with that ubiquity comes risk - this tiny, yet powerful device contains enough information to expose your financial or health records and other personal details. From an enterprise perspective, the risks are just as great, if not greater."

" It is, Julio Vildosola concedes, a very big bet. Enlarge This Image Warrick Page for The New York Times Julio and Eva Vildosola and one of their two children. Mr. Vildosola will join a small software company in Cambridge. Readers' Comments Readers shared their thoughts on this article. Read All Comments (269) » After working six years as a senior executive for a multinational payroll-processing company in Barcelona, Spain, Mr. Vildosola is cutting his professional and financial ties with his troubled homeland. He has moved his family to a village near Cambridge, England, where he will take the reins at a small software company, and he has transferred his savings from Spanish banks to British banks."

Becoming a university professor requires a lot of work for very little financial reward, compared to most other professions. In STEM (science, technology, engineering, math) fields, the minimum requirement is four years of undergraduate education, plus anywhere between four and a half and eight years of graduate studies, followed by an (ever increasing) number of years of post-doctoral work. That may get you an assistant professorship where, at a state university, the starting salary is in the $60k-70k range. 

Having at least six months of expenses provides financial stability, helps you avoid debt with high interest payments, and lowers stress levels. We have a full year of expenses put aside in liquid cash, and it lets me sleep well at night. Emergency funds can actually have a better return on investment than what you see on a bank account. But that doesn't mean I shouldn't still maximize my interest earned, especially as cash is an asset class where you can increase your return without having to take on additional risk (if you stay FDIC-insured or equivalent).