Every Asset That Depends On Cheap, Abundant Credit (Housing, Bonds, Stocks) Is Doomed

Friday, June 21, 2013
By Paul Martin

by Tyler Durden
ZeroHedge.com
06/21/2013

Four words: financialization, debtocracy, diminishing returns. The entire global economy, developed and developing nations alike, is now dependent on cheap, abundant credit for everything: for “growth,” for asset inflation, and ultimately for central state deficit spending, which props up all the cartels, rentier arrangements, fiefdoms and armies of toadies, lackeys, apparatchiks and embezzlers that suck off the Status Quo. The wheels fall off the entire financialized debtocracy wagon once yields rise.There’s nothing mysterious about this.

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