
- March 7, 2025
When Valuations Collide…
“Stock prices have reached what looks like a permanently high plateau.”
—Yale economist Irving Fisher 12 days before Black Monday in October 1929
Read more“Stock prices have reached what looks like a permanently high plateau.”
—Yale economist Irving Fisher 12 days before Black Monday in October 1929
Read moreThe Debt Supercycle theory traces the increasing transfer of private debt to government balance sheets, highlighting its implications, the unique constraints of government debt management, and potential future scenarios—including the limits of government borrowing, the role of bond vigilantes, and the risk of a major fiscal crisis if current trends continue.
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