Buckle up buckoos, bank bailouts ahead. Also check your investment portfolios for CMBS, they might be going down/
James Howard Kunstler has been writing about The Long Emergency for years, the deterioration of the credit backed growth economy that finances the creation and production of stuff, but not the long term maintenance of that stuff. Then the stuff breaks down over time and there is not enough wealth left to fix it; systemic deterioration occurs.
Buckle up buckoos, bank bailouts ahead. Also check your investment portfolios for CMBS, they might be going down/
James Howard Kunstler has been writing about The Long Emergency for years, the deterioration of the credit backed growth economy that finances the creation and production of stuff, but not the long term maintenance of that stuff. Then the stuff breaks down over time and there is not enough wealth left to fix it; systemic deterioration occurs.