The Black Swan In Plain Sight—Debt Out The Wazoo

The black swan in plain sight does emit the Donald's orangish glow, but at the end of the day its true color is actually red. That is, monumental towers of rapidly rising debt loom everywhere on the planet. For the moment, the artificial cash flow from this unsustainable borrowing spree is keeping a simulacrum of growth and prosperity alive. Yet this whole outbreak of debt madness----represented by $225 trillion outstanding on a global basis----is careening toward a financial and economic dead end that will soon crush today's fiscally profligate politicians and heedless financial punters, alike, in a devastating reset of bond yields.