Paper Asset Bubble

Here's a chart I picked up Jack Crooks and the very smart analysts at Black Swan ...Jack adds: "it seems the explosion of paper, and the revolution of consumer finance, has added more stability, if one measures in terms of GDP. Business cycles have been sanguine for a while now and we think paper has a lot to do with it. But are there limits to this and are we, or have we, reached those limits?"

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