Sunday, July 12, 2009

Keep the Faith…this graph has to play out

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 (676 views)
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2 thoughts on “Keep the Faith…this graph has to play out

  • 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.

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  • 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?

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