We had an engineering focus, in the beginning. Then, finance and its issue came to fore. With Ben's largess, things progressed, for some, albeit slowly. Then, the equity bubble started to expand (not seen by the FED, according to their reports). We know this is a bubble for several reasons, but, one thing that we see, again, is that people are borrowing money, at the lower interests of today, and buying equities. That is, leveraging is back, bigger and bolder.

How can we split equity markets from the ca-pital-sino? Meaning, of course, that equity techniques are an important part of finance and economics. What is not necessary is the "market" as defined by those whose main concern is picking pockets.

Let's see. Minsky talked about the inevitably of speculation, given the lack of constraints. Now, know, please, constraints are not, by necessity, imposed. Mature persons have restraints. Ever observe this? A sustainable economy would talk loads of grown-up decisions to come forth.

Has that ever happened? You can answer positively despite what we have seen of the partisanship splits of D.C. of late that seems so playground-ish from outside the beltway.

Oh well.

Minsky references here:

11/01/2015 -- Good look at quants and their influence.

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