People used to think, that a dramatic crash could only occur on condition of an extraordinary event. Think of country X loosing a major war + inability to pay the accrued bills.
Well, then came the subprime mortgage crisis, so now we know that we really don't know. Mr. Spitznagel is either a crackpot (most likely scenario) or he is in the know.
Facts are facts though, corporations frenzy on cheap loans...and they did/are. Stock buyback trends in aggregate make me nervous. Perhaps we should only allow fixed or capped interest rates but that would limit borrowing to fiat sources and probably exacerbate the issue.
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People used to think, that a dramatic crash could only occur on condition of an extraordinary event. Think of country X loosing a major war + inability to pay the accrued bills.
Well, then came the subprime mortgage crisis, so now we know that we really don't know. Mr. Spitznagel is either a crackpot (most likely scenario) or he is in the know.
Facts are facts though, corporations frenzy on cheap loans...and they did/are. Stock buyback trends in aggregate make me nervous. Perhaps we should only allow fixed or capped interest rates but that would limit borrowing to fiat sources and probably exacerbate the issue.