Monday, Oct 20, 2008
What can water and ice teach us about the frozen credit market
FT Alphaville: Libor fixes: credit and phase transitions
Pure water cooled to its critical point makes a sudden transition to ice, often due to a small impurity. The thaw is a slow process. In the mean time house prices fall like leaves after the frost.
Posted by mountain goat @ 02:24 PM (465 views) Add Comment
8 Comments
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1. mountain goat said...
2. little professor said...
Very poetic, MG.
3. titaniccaptain said...
I was thinking the same thing LP...........how about a sonnet on the fall of the labour government?......cmon MG
4. mountain goat said...
Oh alright then. Found this one from 2006, sadly not written by me.
Laboured poem.
Be amazed at the tightrope walker,
As the lion tamer loses his head.
Wonder at jugglers, juggling the truth
Twisting the facts that you've read.
See the cannonball, close to being fired.
The acrobat turning and spinning.
The Master of Ceremonies scratching his head
Losing his grip from the winning.
The Big Top heaves as elephants lumber
Is this Theatre?
Or Circus?
Or Fair?
Its beyond a joke, don't send in the clowns
For the clowns are already there.
5. letthemfall said...
This phase transition stuff is all nonsense of course. I blame the Large Hadron Collider. It has obviously produced a cluster of mini black swans before a giant one got sucked into the intake. QED.
6. nubbers said...
I have always felt that Catastrophe Theory (look it up on Wikipedia) provides a good explanation of financial markets, and in particular the housing market. Here you find an explanation of why things seem to turn around rapidly at the top and bottom of a market.
7. nubbers said...
Actually, I prefer letthemfall's explanation.
8. crash n burn said...
A Physicist by any chance Mountain Goat?