The Collapse Cycle

1. Wealth builds on productive activities

2. Wealth is redistributed from producers to consumers

3. Wealth is destroyed. (We are here)

Comments

  1. Misallocation of Capital and high levels of Debt....

    Sounds like the Municipal Bond market to me PW.

    ( Wink )

    Bill

    ReplyDelete
  2. Yes Bill, it is the muni market. But, it is also the markets in personal, corporate, state, and sovereign debt. Big adjustments coming soon to a market near you.

    ReplyDelete

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