Fascinating article. Thanks for posting!
A must-read for everybody who innocently believes that we are in a normal business cycle. They don’t seem to understand “this time it IS different”. The unprecedented nature of bank practices in the past 10 years has put us into uncharted waters. I highly doubt anyone can reach back into the past and really project what the future holds for the economy or the lenders. The very nature of lending and debt has been completely changed.
Anything but normal. Thanks for the fascinating read. Good find.
Most definitely not a normal business cycle. There are no more gimmicks left to juice up the US economy such as the dotcom/telecom/NASDAQ boom and the housing bubble. Nothing is left but a jarring return to honest work and buying a lot less imports