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The point is that "term" doesn't come into it in an equity-based structure like this. "Time" is not a consideration as it is in a deficit-based system.

This is like saying that time is not relevant when swimming underwater, so long as, on average, you spend enough time above water.

It's like all these financial models that work as long as there is liquidity.

Term matters when you have limited resources.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sat Jan 19th, 2008 at 09:44:05 AM EST
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