“..There is an eerie moment before a tsunami hits when the water retreats from the beach.
The water is sucked out to sea, leaving the fish flapping and the seaweed exposed as the tsunami gathers itself before rushing in to destroy all in its path.
In years to come, investors and economists alike will see this year as the year debt was sucked back out of the world’s thriving financial and property markets.
This year will be seen as that moment before the tsunami of the worst recession in 80 years wreaked havoc on the global economy for at least the next decade.
It’s worth explaining how de-leveraging works..
..and why it is such a powerful force..”
go to source/story>>Bernard Hickey : Spiralling into a long, deep slump – Business – NZ Herald News
