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Yes, that is exactly what I am saying.
Yukis' seed article wasn't that great in that it summarised the process
as 'double or nothing' and failed to highlight the self-fulfilling
feedback created by fast moving bull markets.
In Australia we have had a long experience of just that ... the wealth
created by a booming, leveraged stockmarket interacting with a booming
leveraged property market....all in spite of a cycle of regular, albeit
small, interest rate rises.
wealth creation ---> leveraging ---> more wealth creation ---> a
correction ----> the leveraged scales are tipped off balance ---> the
unprepared are left holding the parcel when the music stops ---> the
cycle starts again (slowly but surely).
All based on paper wealth.
brian_z
--- In amibroker@xxxxxxxxxxxxxxx, "hemant sharma" <hemantbhai100@xxx>
wrote:
>
> AmiBroker User's List>This is a problem with free market capitalism -
not race and culture.
>
> IMO, this is a problem with the way our money is created.
>
> specifically, this is a problem with collateral based debt money.
Land is collateral and land is also the most important investment. Once
land prices begin to rise, banks lend more, and that money then raises
land prices more.
>
> An engineer would recognize a positive feedback here. And positive
feedback systems are inherently unstable (ie, oscillatory, or "boom
bust").
>
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