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<p>[QUOTE=&quot;QuintupleSovereign, post: 26044261, member: 94957&quot;]The way I see it, the current debt trajectory for consumers, corporates, and governments is unsustainable. In the past, how has this been handled? Normally, through financial repression (post WW II, post 2008, QE ad nauseum) and inflation (post-Bretton Woods). We&#039;ve never seen the sort of peacetime deficit spending that is currently the norm, and at some point, investors really should question whether it&#039;s worth it to continue financing the government if the dollars in which they&#039;re being paid keep declining in value. </p><p><br /></p><p>All of these sky high asset prices are built on this artifice of debt; one wonders if the whole house of cards may be about to fall in on itself. There do seem to be signs of distress in certain areas (CRE office loans, rising auto delinquencies, irrational valuations in private credit, etc.), so I wouldn&#039;t be surprised if we had another 2008 style crisis in the near future.[/QUOTE]</p><p><br /></p>

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