We’ve been in the same spiral since 1971 and even before that, but spiraloors have been acting like the Weimer collapse is happening TOMORROW.
Discussion
Fair. Also, "spiraloors" is a neat word. Where did that come from?
Not sure. Just came up with it, I guess.
"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.
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.