Niall Ferguson's "The Ascent of Money: A Financial History of the World" highlights a crucial moment in financial markets when indicators appeared overwhelmingly positive. The assertion that "the lights in financial markets were flashing green, not red," suggests a prevailing confidence and optimism among investors, signaling a period of growth and prosperity prior to a significant downfall.

This commentary reflects the ironic nature of financial systems, where exuberance can mask underlying vulnerabilities. It serves as a reminder of how easily confidence can be misplaced, leading to catastrophic events in the economy when the signals are misleading and the situation changes abruptly.