Monthly Archives: October 2019


HERE IT COMES AGAIN “With global debt at about $ 250 trillion, central banks are willing to do «whatever it takes» to avoid the liquidation; but one can’t fix a bad balance sheet without actually fixing it. The eventual unwinding will entail not only financial but economic, social, political and geopolitical disruptions as well. Perhaps this is why investors have been willing to suspend disbelief when faced with inanities like negative yields or «unicorns» – the fabulously valued businesses that neither produce profits nor show any path to ever doing so’



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