Rising Private Sector Leverage

What changed over the last century? One hundred years ago government was small, money was hard, and leverage could be found and used, but it was costly in real terms since there was deflation most times.
Then came the Fed: Money was cheap. Although there were slumps, asset values, unlike trees, actually did grow to the [...]

Rising Private Sector Leverage originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”