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But because market intermediaries will also be taxed, even a 0.1% tax rate will translate, via a "cascade effect, " into higher interest rates on sovereign bonds.
WSJ: Review & Outlook: The Transaction-Tax Climbdown
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The other is chaos theory, which explains how a tiny disturbance can cascade into a large effect.
FORBES: Bond Funds: Higher Yields, Higher Defaults
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The haunting effect of Ensor's sea of masked figures, who cascade toward us on a surging, endless tide, is due in part, as the art historian Patricia Berman has described, to the collapsing perspectives and multiple viewpoints the artist employed to create a sense of chaos.
WSJ: A Macabre Kingdom of Masks | James Ensor | Christ's Entry Into Brussels in 1889 | By Mary Tompkins Lewis