Ever since I have been writing about the economy (about 4 years) I have focused on the mammoth increase in US debt during this expansion. It has led me to question the underlying vitality of this expansion as a whole. Events of the last six months indicate the markets are also asking the same question right now, although in a somewhat different way.
In effect, the economic dominoes are starting to fall. Ultra-low interest rates which inflated asset prices and...
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