“The next junk-bond implosion.”
The bloodletting will go on until the money dries up.
The middle classes – aka “the voters” – expressed themselves last week. They have been sorely used and they know it.
“Hey… you want a wealth effect? I’ll give you a wealth effect!”
“The biggest wealth transfer from retail investors to professional investors in history.”
“Not the Fed’s job to rescue reckless investors from the errors of their ways.” Now they tell us!
For individual Americans, economic “growth” has meant the opposite.
Housing Bubble 2 pops in its full glory, mess ensues.
Just when you thought we’ve reached the peak of craziness, it gets even crazier.
It all boils down to consumers in an economy that is so dependent on them.