The Everything Bubble Is Bursting… Debt Contagion Goes Corporate
by Phoenix Capital…
ZeroHedge.com
Sun, 12/09/2018
Stocks opened down on Friday… as in DOWN.
As bad as it was, things were actually much worse before the market opened. The initial drop was so massive that the futures exchange intervened to stop the carnage.
And things are only going to be getting worse from here.
The #1 question I have received since published my book The Everything Bubble: The Endgame For Central Bank Policy is:
“how will we know when The Everything Bubble has burst?”
My answer was always:
“when debt contagion spreads to systemically important asset classes, the Everything Bubble has burst.”
We are now there.
Floating bonds are IMPLODING.
Even worse, corporate bonds, of which the IMF believes some $1.2 TRILLION will default during the crisis, have taken out both their bull market trendline AND CRITICAL SUPPORT.
The Rest…HERE