Scott Bessent just defined market panic—and accidentally diagnosed the biggest problem with AI

Scott Bessent has spent 35 years watching markets. He’s seen currencies collapse, housing bubbles burst, and sovereign debt crises detonate in slow motion. So when the Treasury Secretary sat down with Wilfred Frost on The Master Investor Podcast this past week and was asked what actually worries him about markets—not the movements, but the real fear—his answer was deceptively precise. “Markets go up and down,” Bessent said. “What’s important is that they are continuous and functioning. In my 35-year car ...