Ephemeral markets
Derivatives like credit default swaps balloon market valuations even more above any base valuation, amplifying "somebody's" promise of a future income stream. A downturn pops an even bigger bubble (making money just on trading churn) and the system starts to become a caricature of itself.
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Compression Thinking »Compression Thinking
Compression vs. Expansion Thinking »Compression vs. Expansion Thinking
Expansion Economics »Expansion Economics
Systems Based on Markets »Systems Based on Markets
Capital valued by reference transactions »Capital valued by reference transactions
Ephemeral markets
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