The collapse of a Ponzi scheme is really not such a problem, for those who have already cashed out.
What Ponzi scheme? Since 1980 we have seen the progressive elimination of restrictions on finanicial creativity specifically designed to keep fraud and ensuing economic collapse from happening. This was not an accident, but perhaps I am taking too abstract a way of looking at it. How about a low-level techie's-eye view (from Cryptogon) . . .
First, the background;
Second, how our low level techie got to be in the belly of this beast;
Third, by way of example, some outer-world . . . uh, . . . ramifications;
And finally, my comment, specifically, that: I have never heard of an economics designed specifically to model and predict the behavior of crime families, but if you want an economics for the 21st century, that is what it is going to have to do. The Fates are kind.
Though when you see things like Goldman Sachs advising the British Government on what to do about Northern Rock, it is definitely a case of foxes guarding the henhouse. We have met the enemy, and he is us — Pogo
I know, not malice, just business. Same thing.
And your economics does not model it. The Fates are kind.
