The Age of Balance Sheet Recessions

This is why the recent rally in risk assets (equities) is nothing more than a vicious Bear Market rally. This is why you must expect deflation... and why inflation is impossible.

"Americans Spent $1.5 trillion that should have been saved." Page 11/34, slide 10.

Read the full article The Age of Balance Sheet Recession: What Post 2008 U.S., Europe and China Can Learn from Japan 1990 - 2005.