Monday, June 20, 2016

We are riding on a wave of unsustainable debt increase, borrowing from future growth for a more pleasant present

First, the population taps out the credit cards;

Then they tap 401k loans after borrowing from home equity lines, then lose their jobs as corporate profits fall, default on the loans and go under as the economy craters into the next round of the financial crisis.
What cannot go on forever won't.  

It's just a question of when, what, where, how and why.