> "A pebble in a churning sea." That is how the New York Times
> describes the $700 billion bail-out prescribed by the US Fed.
And just to put this into the context of tangible stuff that we can
relate, even vaguely, to our own private affairs, that puny $700 bn
pebble is enough to buy approximately 100 of these:
http://www.swapmeetdave.com/Humor/Workshop/Trencher.htm
for each state, province and territory in Canada, the USA and Mexico.
Which backlights Keith's remark,
My own view is that the chief cause of the trouble is that, a
century ago, ngovernment after government started disassociating
their currencies from any underlying value....
The notion of "uncoupling" has come up before. I have to think more
about this. It seems to be a concept that gnereralizes over a variety
of more or less complex systems. In biological systems, it's a matter
of pathology or toxicity. In a sufficiently complex financial system
avowedly dedicated to unrestrained competition, it's also pathological
but predictably so. And a key theoretical basis for justifying
meaningful regulation.
FWIW,
- Mike
--
Michael Spencer Nova Scotia, Canada .~.
/V\
[EMAIL PROTECTED] /( )\
http://home.tallships.ca/mspencer/ ^^-^^
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