6 years after the credit crisis first dawned on the mainstream, the derivative debt virus is still spreading. See this segment on the debt storm surging in Peurto Rico which has knock off risks for investment funds, bonds and banks around the world. Here is a direct video link.
The world continues to pay a massive price for taking its financial advice from the bankers. But so far, lots of people still do. Maybe when this leverage carbuncle implodes the recent paper gains of stocks for the third time in 13 years, the public will demand some serious prosecutions, separation of bank advisory from sales services, lifetime bans and imprisonments.
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Cory’s Chart Corner
Load MoreMany will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
BREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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