Yesterday we offered Neiman Marcus as a poster boy for the chain of economic deformations and financial mutations which have arisen from Bubble Finance. Now comes word that the once and former toney emporium of wealthy patrons and conspicuous consumption has been reduced to borrowing money to pay interest on its staggering $5 billion mountain of debt.
The Great Immoderation: Beware of Money Printers In The Land Of The Bubble Blind, Part 2
You need to login to view this content.
David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.