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The King of Non-Productive Debt
Doug Noland
06/10/2011
www.prudentbear.com
There is important confirmation of the “bear” thesis to discuss. But, as usual, let’s first set the backdrop:
The world is in the midst of history’s greatest Credit Bubble. A dysfunctional global financial system essentially operates without mechanisms to regulate the quantity and quality of debt issuance. In response to severe banking system impairment and fiscal [...]
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