Europe has just passed #8 while the US just passed #5. Once an "event" takes place, hypothecation reigns supreme and the loop begins to swirl at exponential speed. As the WSJ noted, "the consequences are deeply worrying" and Zero Hedge is correct in advising to "buckle up".
As painful as it will no doubt be, the correct course of action would be to allow a crash and reset rather than extending quantitative easing with bailouts, or God forbid, a new idea of bailing IN.
This Is The NIRP "Doom Loop" That Threatens To Wipeout Banks And The Global Economy--Zero Hedge
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