Comments I'm making on the AltMoney tribe.
Basically your intuition is that a global market has a lot of independent agents who's actions must, more or less, cancel each other out. But with global communications, we have a lot of agents, all of whom are watching each other like hawks to spot opportunities. These aren't "independent" in a way that makes their actions cancel out. These are highly "coupled" agents, who tend to follow and copy each other's behaviours, giving rise to larger, world-wide bubbles because of *resonance*.
Tribe Discussion: Alternative Money and Economics - Tribe.net