day of reckoning

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Losing the Red Queen's Race

The Red Queen's Race is an apt analogy for the meltdown in assets and debt now swamping the global economy.

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A ‘Credit Cycle Bust’ That Cannot Be Stopped

This is no ordinary downturn. After the biggest credit bubble in history, we face a correction on an unimaginable scale. Make no mistake about it: This is a credit-cycle bust that the government cannot stop. The losses are already catastrophic. And the massive unwinding is nowhere near finished yet…

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