Here we are July 2014 and as shown below, the Canadian TSX has manged to get “Back to the past” now within a stone’s throw of the level it last reached 6 years ago at the commodities cycle peak in June 2008. Of course that was just before the world realized that too much debt and financial leverage were toxic for families, banks, consumption, stability and economies.
But wait, the world now has tens of trillions more debt than it had in 2008. Global debt to GDP has now topped $260 trillion, some 430% of global GDP (without counting many forms of additional financial leverage and derivatives), and too big to bail banks are bigger and more concentrated than ever before….hmmmmm. Not to worry, surely this time will be different…
Cory’s Chart Corner
“An explosive critique about the investment industry: provocative and well worth reading.”
“Juggling Dynamite, #1 pick for best new books about money and markets.”
“Park manages to not only explain finances well for the average person, she also manages to entertain and educate, while cutting through the clutter of information she knows every investor faces.”