Which is precisely my point. Liquidity in the world of fiat money is pretty close to being indefinable. I've got debts. I need to service my debt. Oh, look, I can take £20,000 out against my mortgage.
That's liquidity on a personal level. You can make a correspondance between liquidity and assets, given appropriate market circumstances.
But what I'm talking about are the assumptions. What is this "given?" What are these "market circumstances?"
Birks put it quite well up there. I'm still confused.
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Date: 2010-03-13 07:55 pm (UTC)Which is precisely my point. Liquidity in the world of fiat money is pretty close to being indefinable. I've got debts. I need to service my debt. Oh, look, I can take £20,000 out against my mortgage.
That's liquidity on a personal level. You can make a correspondance between liquidity and assets, given appropriate market circumstances.
But what I'm talking about are the assumptions. What is this "given?" What are these "market circumstances?"
Birks put it quite well up there. I'm still confused.