at times i am at functions where they present their major ideas and listened to their views on housing, gold, and platform companies
on housing, their points were broadly: lack of volatility due to export of same from usa to china, security of platform corporate income, new era, resulting in higher high for housing without end
-- and then housing fell apart, of course
i get the feel that their pitch are used by serious people as counter points for consideration and rejection, by logic and observation, and by not so serious people as pitch points to clients (much like the way brokers may use cnbc sound bites)
i use their points for the former, and as comic relief
... in the same way, all indications are that they are not only wrong about housing, and gold, but also their pet, the platform company
they seem to think platform companies is something new, whereas all it is is trade on a more organized basis
trade links make the global system more robust, and able to withstand more accidents, but it also spreads the risks more widely, and allows the world to accumulate and distribute risk factors more, and into every nook and cranny
the kaboom, when it happens, will be louder and more damaging and synchronised |
