Mac10 made a comment that is profound:
“Debt IS the economy and you can’t spend the future twice.”The ongoing infotainment around Fed rate hikes is all well and good; however it all ignores the fact that only further debt accumulation – by households or governments – will keep the “economy” afloat, albeit temporarily. At PEAK LEVERAGE, any attempt to reduce debt will collapse what is left of the illusion-formerly-known-as-the-economy.
