US Economy: We’re In for a Long Slog, Folks

The late Hyman Minsky was one economist who studied how debt overload leads to economic catastrophe, and offered a view that tied it to business cycles. The term "Minsky moment" refers to the tipping point in an economy, where its debt load becomes more than its cash flow can bear. We passed that some time ago, thanks to a sustained set of inflationary policies that begat 2 major bubbles (dot-com, housing/mortgage), and are about to lead to a 3rd (government debt, with accompanying hyper-stagfla

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