Yes, I think most of us did see this coming (although some could be hysterically blind to it), but how many did anything about it? It's sometimes quite difficult to act.

Again, the Eric King index of the percentage of his interviews that he calls "incredible" or a reasonable facsimile has been a good contrary indicator.

What we all believe about the state of things and the value of the PM's makes logical sense, but that's not a whole lot of consolation for the hit to the balance sheet!