Marcus, Thanks for acknowledging that there at least might be some process behind the buzz words being used in the pop culture discussion of events. The so called 'sub-prime crisis' is referred to using a stereotype for ancient and long discredited people and practices. I think it's inadequate as a label for our whole society's double mass hysterias in switching from perceiving the potential value of real-estate as near infinite to being near zero. That's a bigger process than a single stereotype explains. From our present hind sight the stereotype of a greedy lender fooling a foolish borrower is so crystal clear, and covered with so much of our own chagrin for it not having seen it clearly before, it's a wonder no one asks why it wasn't.
What I think would bring the larger process to people's attention is recognizing who profited from it (who offering the addict their drug) and then ask why the same people pulled their funds out of risk when the wealth hysteria they fed seemed in the process of collapse. NOW the same people want to use those profits to come back into the market and be "white nights" and buy up all the devalued assets at a bargain. What adds even further to the irony, of course, is that, not seeing how it was done, the same people plan on using the same method to just do the same thing all over again the next time they get a chance, and everyone approves! If offering opportunity for mischief isn't a direct physical cause in this very one sided kind of case, then tell me why it's so extremely profitable. If I can't interest anyone in effective methods for investigating how these kinds of whole system phenomena operate, and why they run into consequential physical self-conflict, how about suggesting an appropriate stereotype for any of the damn fool players in the larger tragedy? Phil > > Phil wrote: > > By 'things', of course I mean physical systems rather than theoretical ones, > > and by 'multiplying' I mean allowing them to operate only if they produce a > > surplus you can use to expand them by %'s. > > > Given the subprime mortgage crisis, I kind of wish that were the case! > Credit worthiness, not consistent surplus, is what keeps families, > companies, and our government running. Investment is commonly done on > credit (in various forms). > > Marcus > > ============================================================ > FRIAM Applied Complexity Group listserv > Meets Fridays 9a-11:30 at cafe at St. John's College > lectures, archives, unsubscribe, maps at http://www.friam.org ============================================================ FRIAM Applied Complexity Group listserv Meets Fridays 9a-11:30 at cafe at St. John's College lectures, archives, unsubscribe, maps at http://www.friam.org
