"The markets can remain irrational longer than you can remain solvent" as the saying goes

But what if the herd of foreign institutions sobers up tomorrow and realises they're not going to get their value back? Ever? And that their might not be a greater fool to sell to?

The British Pound crashed abruptly in 1921, and never recovered. Britain's ability to borrow to fund its Empire abroad and kleptocracy at home died with it, though the dominos took decades to all fall.

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Indeed, slow decline is what I’m getting at. The U.S. still has a couple tricks left in its hand like stepping up bank reserve requirements.

Perhaps we’ll know by the end of the decade when the last boomer reaches full retirement age.