“When the [credit] delusion breaks, people all with one impulse hoard their money, banks all with one impulse hoard credit, and debt becomes debt again, as it always was.  Credit is ruined.” – Garet Garrett, 1932, A Bubble that Broke the World by MN Gordon on Economic Prism: Down, Down, Down Third quarter 2022 ends today [Friday].  We’re […]

The post MN Gordon: Why Bonds Are Behaving Like Risky Assets appeared first on The Great Recession Blog.