Zeev's Turnips Patch-No Politics (ZEEV)

[ardent jd]

mlsoft

.....yes, and the asset inflation you cite is only the tip of the iceberg, as those inflated assets were leveraged to create a mountain of debt. Total market has quadrupled over the past 15 years, and mortgage debt is up something like 9-fold over the past decade. It's relatively easy to deflate the stock market, but the legacy of debt overhang will take a decade or more to unwind. Meanwhile, what happens to consumer demand and capital spending?