warns, “When I started to work in 1970 on Wall Street, the stock market capitalization of the U.S. as a percentage of GDP was between 25% and 30%.
Now, the stock market capitalization alone is 150% of GDP, and when you add the bonds to it, we are at 300%. It’s a huge asset bubble compared to the real economy.
I think no matter what they do, this asset bubble
will be deflated, and it will be very painful.
will be deflated, and it will be very painful.
The asset holders are the powerful ones here, and they don’t want it deflated.
The question is would it have been better economically to go into the hospital in 2008/2009 and clean up the system rather than to essentially inject the sick patient with more opioids to keep him alive?
It’s going to get much worse the next time it happens.”
- Source, USA Watchdog
