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For The First Time In Modern History, A Better Future Is Not The Base Case
Who remembers "the spiral"?
Early last month, we brought you excerpts from what, at the time, was the latest weekly missive from the incomparable Aleksandar Kocic, the Deutsche Bank derivatives strategist who regular readers will recall has been playing in a league of his own for years. In that piece, we documented the evolution of Kocic's vol-leverage ellipse which, with each successive crisis, spirals outward. Each burst bubble must effectively be subsumed by an even larger bubble as the poli
It reminds me of the theory about prices..They are stable until shaken..exogenous event?..Then they approach ‘true value’ until shaken again. There was a book with a very similar chart on it from the 80’s
Paying for environmental sustainability + Japanification almost everywhere means his “path to avoid” is inevitable. The “spitituality if subtraction” camp says this would be progress, just not the economic growth type. The people wanting to personally avoid the situation have bought crypto, blaming it all on centralized authority.
What of coming job losses to technological innovation (AI etc.) as an input?