Sunday, Jul 12, 2009
Keep the Faith...this graph has to play out
FT Alphaville: Culpability of Central Bankers
For all those losing faith, buying into the green shoots "kool aid" - look at this graph, deleveraging has only just begun - the equivalent for the US is about 130%
Posted by mrminsky @ 08:58 PM (318 views) Add Comment
2 Comments
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1. paul said...
That graph is very important in understanding how things went wrong.
In many respects, I still believe that Mervyn King has ducked a lot of cupability. Metaphorically, he is the captain furtively walking away from the crash site.
2. nomad said...
I note that the last surge in personal debt up to 1990 was followed by a plateau before taking off again. Could this be repeated?