Sublime

Second, those who hold return-seeking capital assets but who do not lever up are comparatively disadvantaged if their competitors do.

scaffolding.

Third, this constant and pointless demand for financialization will create political and business opportunities to better facilitate it.

Money emerges from uncertainty, capital emerges from money, and uncertainty emerges from capital.

Money emerges from uncertainty, capital emerges from money, and uncertainty emerges from capital.

A short-lived capital stock will manifest in accelerated depreciation and a fragile capital structure will incur an undue interest charge.

This will change when people start selling not just their fiat, and not just their time, but when they start liquidating real assets.