25 Minutes, 30 Slides

Charles Hugh Smith's recent article "The Global End Game in Fourteen Points" is the basis for this video discussion on the traditional Business Cycle, the Credit Cycle and the emerging version sought by the Central Bankers.

Fourteen Points:

1. "Boost Phase" of Credit Expansion
2. Overextended Credit Expansion and Over Capacity
3. Financialization and Collateral
4. Era of Financialization
5. Growing Malinvestment
6. Phantom Collateral from Asset Bubbles
7. Bubble Implosions
8. Impaired Debt and Policy Decisions
9. Stalled Consumption
10. Cheap Money Offered
11. Shrinking Loans and Bank Speculation
12. Search for Yield from Shrinking Pool of Productive Assets
13. Increasingly Speculative Investments with high Risk
14. Stagnation - Over-indebted, overcapacity with limited growth.

How They Map To The Cycle of Deflation

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