FRACTAL ECONOMICS

The credit card effect (as opposed to 'the butterfly effect') - one person's (credit card) debt could bankrupt a country - or even the world's economy. This is the perfect economic fractal example of dangerous massive debt burdens migrating from the small scale (individual) to the large scale (country);  the principle or idea (of debt) is the same, and the scale is irrelevant. I explained the world's economic problems to my 10-year-old daughter by reducing the problem to her scale—it was very easy. Today, through the mechanism of (moral hazard) bank bailouts, countries are being  burdened. Where to next? This is the perfect storm. '

I think the 'Butterfly effect' has a flaw or is at least misleading. It suggests two attractors: the (flying) butterfly, which is governed by aerodynamics, and the (blowing and turbulent) typhoon, which is governed by thermodynamics.  Chaos theory suggests that each and every attractor demonstrates 'chaos' in a system and that a system (an attractor) in isolation will experience chaos - without any other influences. The real butterfly effect may be more like: ' The flapping of a butterfly's wings could explain the presence, or existence, of the large (747) jet aircraft flying today—which is aerodynamics; or the heat emitted from the butterfly's breath  could explain the typhoon, which is thermodynamics. What do you think? The credit card effect - one person's credit card debt could bankrupt a country - or the world. Dangerous debt burdens migrate from the small scale—individual—to the large scale—country—through moral hazard bail...