Oddbean new post about | logout
 Disagree. The global economy is a house of cards on the best of days as it stands.

Introduce a new variable of the asset rich needing to unload illiquid holdings en masse the same time every year and you’ve got a recipe for total fukn carnage. Massive capital flight on announcement and massive unrest on enforcement. 

Throwing a randomiser on and giving preferential treatment to some at the expense of others would just be bonkers, like 100X volatility on already 100X volatility.

Billionaires might as well just form private armies and go hunt the political class - it would be way cheaper. Then they’ll turn those forces on their business rivals..

It would be a government-induced version of an Ancapistan nightmare