Any essay that starts with a quote from Jim Grant is guaranteed to be a fact based, common sense, reasoned research of a warped, debt saturated, over-valued, Federal Reserve fraudulent financial markets. John Hussman starts his weekly minute with this quote from Jim Grant:
“The approach to resources in a longhorn marketplace is debt. The approach to unconcern in a bear marketplace is also debt, and nobody rings a bell.” – James Grant
We’ve been in a Fed QE and ZIRP prompted 6 year longhorn marketplace that has been sputtering given QE 3 finished in Oct 2014. Leveraging yourself to a knob and pier into a batch marketplace has been a highway to cache for 6 years, only as leveraging to a knob in genuine estate was a highway to cache from 2002 by 2007, and leveraging to a knob in internet bonds was a highway to cache from 1998 by 2000. Of course, a dot.com and housing highway to cache detoured into ditches that wiped out trillions of haunt wealth, only as a stream highway is heading to a grand ravine distance ditch.
Total credit marketplace debt has reached all-time highs. The de-leveraging of consumers, murder of ruined Wall Street banks, and