"current-coupon indexes represent the average of yields for the two groups of bonds with prices just above and below face value, the ones that lenders typically package new loans into."
Perhaps those who have absolutely no understanding of this sentence have a better understanding than those who do. As the mortgage bond market slides into chaos, ensuring the deflationary collapse to come, it is becoming increasingly clear just how florid and expansive the lives of financial "structures" had become. Now, drained of all choloric, the lock-step poetry of their lives, vast skeletons dripping onto islands, can be explored. History, certainly, will make something of this. It will probably compare it to the "Baroque." Not wrong, and certainly appropriate in that, like most criticism of the Baroque itself, it will miss the "spiritual" simultaneity of its material with its thought, accepting subject-object distinction, concepts of viewership, etc. (deleuze's book on Leibniz is a great example of these limitations). This at-the-same-time of its materiality and its thinking spirits through the structure at hand. With regard to the "miniature" baroque at hand in the deflationary panic, this spirit is now on horseback at a swift gallup.
Now that the show is on the road, we'll start making another attempt to understand what is passed down to us from these carcases....
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