For almost 40 years, we’ve lived in an era of low rates and easy money. It let governments and businesses worldwide run up piles of debt.
Global debt could easily reach $500 trillion in a few years. And yet everyone acts like that is normal and can continue.
Just like subprime mortgage debt triggered the last recession, corporate debt will trigger the next one. This will start a liquidity crisis and create havoc in all sorts of “unrelated” markets.Investors will learn once again that all asset classes globally are correlated in a crisis . There will be few places to hide.But […]
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