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The Minsky Moment
When debtors realized they've walked off a cliff
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Max Keiser on the Global Ponzi Scheme
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The culprit: Economic distortions caused by "hot money."
Remember EQ is a trickle down phenomenon. Big banks get super cheap money which they lend down to their friends who in turn inflate asset prices which then "trickles down" on consumers. Largely the young.
Great old saying that explains what's really going on.
"Don't piss on my leg and tell me it's raining."
The economy is good because stock prices are high and luxury housing is abundant. Please.
That which cannot go on forever, will not go on forever.
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