Compare generational defaults, Roosevelt shock to Nixon shock. Pricing breaks down, the container algebra breaks, trade degenerates then recovers again as the pricing function returns.
Didwe kill 20 million in a world war ince Nixon? Nuke Japanese cities? Carpet bomb rice farmers?
No, our body count was well under 3 millipn wicne Nixon. That is improvement.
Go back, how well did Lincoln and Davis do on their generational default? Like wipe out 10%n of the male population in civil war?
We get better at it, our first differential improve because we remember tosave up some second. It is like learning the manual shift on a car.
Each time we do i, we combine the new information technology into the new monetary technology. The sandbox has arrived, we will have our generational default, and it will be done in a no arbitrage pure cash autotrade world. The millennials will suffer a 3-5% inflation over an eight year period and kill less than a million, with a random wiener process. That is not bad for an evolving species.
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