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Some day I hope to get religion. But I can’t shake the feeling that there’s no there there. Beliefs about beliefs about beliefs is just noise past a point. Like really, technically noise. That’s why you don’t numerically differentiate noisy sensors too much in control theory.
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This makes me a reactionary I guess. If you carry my line of thought too far, you land on injunctions against usury in Islam, where even basic interest is sinful. The pragmatic line is “when are we adding more noise than signal with the next degree of indirection?”
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It’s not just many levels of indirection that kill you. It is layers of leveraged indirection built on top of a noise-limited set of signals. Like trading on the future rolling of a marble on the deck of a ship in a storm, where coordinate frame is local galactic supercluster.
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I think I draw the line at a fiat economy with interest rate mechanism and a basic futures market. Ie instruments based on predictions about stuff. Anything more exotic you’re asking for trouble.
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It’s also bullshit work; created to keep people busy. It just happens to be bullshit work crafted for very high IQ genius types instead of mediocre minds fit only for bureaucracy. Cheaper to create than comicbook extended universes. No need for pesky artists and camera crews.
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The ability to get lost in the higher realms of exotic financialization is exactly the same as the ability to get lost in comicbook universes. Imagination plus IQ. But with much more boldness than MCU demands.
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I have to wonder: what happens if this time around the bailout is ONLY for the 5%. Inject capital into stuff economy. The banks get a piece if stuff-people decide to give them a piece. Reinflate the economy bottom up rather than top down. Impossible thought experiment of course.
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1 trillion divided by 330 million is about $3000. Here’s a thought: airdrop $9,000 into the checking account of every American. Cost: $3T. A mere 3x-ing of the deficit. Let’s see how much trickles upwards into exotica. Test how much skin in the game we *want* in Wall Street.
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