If this forced the Fed to slam on the brakes, the virtuous circle could suddenly turn vicious.
The risk for Mr Silverman is that the virtuous circle now turns vicious.
The virtuous circle promised, eventually, to tighten the jobs market, to boost wages and to restore some lustre to household spending.
The path towards that awareness begins, again, with the virtuous circle that America has been enjoying during the past year: the way in which a strong economy has been further stimulated by share-price rises, through both consumption and capital investment, while a strong dollar (partly a result of foreign buying of American equities) has helped to curb inflation.
You see the virtuous or vicious circle of emotional feedback that gets built up over a biological life.
Owning the conversation in Los Angeles about issues in our community and how it connects to the rest of the world started a virtuous circle.
But when prime brokers turn off the funding tap, this virtuous circle may turn vicious.
Neither Chicago exchange has devoted enough attention to technology to enjoy the full benefits of this virtuous circle.
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Now it is trying to love-bomb Indian businesses into investing again, in the hope of creating a virtuous circle of more jobs and tax revenues.
Keith Wills, retail analyst at Goldman Sachs, says the firm is in a virtuous circle: higher volumes augment its buying power, which in turn drives prices down.
The Safe Stoves project shows a virtuous circle in action, thanks to technology -- environmental protection, improved safety for women, access to clean energy for the poor, enhanced climate security.
The system in Ontario became "a virtuous circle, " says Marc Tucker, author of "Surpassing Shanghai, " a book about top-performing education systems.
Apple is clearly hoping to jump-start a virtuous circle here, in which the availability of a clear path to the television spurs demand for digital content, which spurs demand for Apple TV units.
If you detect the makings of an endless loop that can feed back onto itself, creating what might be called a virtuous circle and ultimately a more virtuous society you are getting the idea.
That could turn the vicious circle of no security and no prosperity into its virtuous opposite.
France is a country with many obvious problems, but in the area of food, it has excelled in creating a virtuous circle of people who love making food and people who appreciate food that is well made.
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But after eBay became the preferred place on the web to trade collectibles in the late 1990s, largely through word of mouth, it quickly entered a virtuous circle in which more buyers attracted more sellers, who attracted yet more sellers, and so on.
That, they hope, will nudge Brazil into a virtuous circle, in which they can cut interest rates, and thus the cost of debt-service and, in turn, reduce the size of the surplus needed to steady the debt burden.
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This will produce more prosperity in both countries, yielding a virtuous circle of more growth, more interdependence, and more balance, driven in good measure by the growth of the Chinese middle class.
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