Sublime

There frankly is a hell of a lot of value in the game theory and economics literature.

Everybody gets levered up the wazoo. If you can’t save because money does not retain value, then you have to be fully invested. If capital has all been misallocated such that price signals are unreliable and losses are artificially sustained, then any minor advantage has to be levered to achieve a satisfactory return. And if interest rates are arti

imagine that Joe Sixpack offered to sell you a CDS on your $320,000 loan to your friend for $1,600 a year for five years. Joe is doing well, has a million-dollar house with no debt, and is therefore “good for the money.” Happy with $1,600 a year in extra income, Joe continues to sell CDSs on residential mortgages. Unregulated, he sells a thousand j