Nature of Competition: What the Asset is
In the asset market, the investor sits on the demand side. Seated on the supply are the two kinds: the liquidator , or “ dis-investor ” as we herein call, and the “ constructor ” of a fresh unit asset (to “ I ” in macroeconomics); the former is in the secondary channel while the latter the primary channel. In various regards, the matter of “liquid” is elusive to catch always and everywhere, while the term “liquidity” is illusive in macroeconomics. First of all, “liquidity preference” is an oxymoron at best; in addition “liquidation” is a misleading name for a channel of “supply of funds” second to the primary of “saving” (“ S ” in macroeconomics) “Liquidity” in and out of Cambridge . Have you ever grasped the water , the most ubiquitous and most unanimous liquidity of all? At any rate, we prefer the liquidity of water only second to the general air (as opposed to the particular “thin air” around the bankin...