How to Deal With Excess Leverage

When g d p was ten and total credit market debt was 25 trillion, we were 250 % that we'd never been higher. It took over six dollars in debt during a seven year period of the government maintaining low interest rates to grow g d p by four trillion dollars. If you get hyper inflation, then some of the best assets to own are your long duration companies, be they private or public. And maybe the market's getting that right.

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