12/09/18

"This Will Be The Mother Of All Minsky Moments"



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"This Will Be The Mother Of All Minsky Moments"
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Submitted by John Mauldin, via Thoughts from the Frontline

We have all had the fun as kids of going to the beach and playing in the sand. Remember taking your plastic bucket and making sandpiles? Slowly pouring the sand into ever bigger piles, until one side of the pile starts to collapse?

In his very important book Ubiquity, Why Catastrophes Happen, Mark Buchamane wrote about an experiment with sand that three physicists named Per Bak, Chao Tang, and Kurt Wiesenfeld conducted in 1987.

In their lab at Brookhaven National ....

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