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Some of them, for sure. All of them? I don't buy it. Show your evidence.

Also ... how confident are you that there isn't just as much benefit-from-collateral-damage among people who thrive on certainty and stability? E.g., you might have noticed that The Rent Is Too Damn High, and that governments don't tend to pursue policies that would change that, and that plausibly one important reason is that they need the votes of property-owners who see their property as a stable, reliable source of income. That's not, on the whole, a risk-seeking group, but there's a good argument that they're making money off immiserating all the non-property-owners, which is "thriving on collateral damage" if anything is.

(Which is not to say that all property-owners, or all landlords, are bad people or anything. Nor are all tech investors, or all professional poker players. That's rather my point.)



I did not mean to imply that any group had a monopoly on indifference to collateral damage, or it on them. But it has become essentially universal and (to my mind) that is an important sign of devolution.


You might want to further check with your Natenberg, maybe GP could have left out the “damage” in “collateral damage”, and strengthened “uncertainty” to “volatility”… but that wouldn’t be so poetic ;)




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