The premise of this thread is that there will be a transmutation of a speculative boom rather than a splat that just lies on the ground DOA. Which I agree with, but also find very interesting. What was the boom anywhere in the world following 1929. Nada! What was the boom in Japan following the Japanese bust of the 90s? Nada!
But now we confidently count on our turbo-charged credit pusher government to hatch another boom for us, and on hedge funds, private equity and Jane and John Q. Public to make it roar once we have all figured out what it is.
It's as if the national sport is speculation on a global scale. I guess as long as we can count on a boom somewhere no one will ever have to work except for a few short years to get a grubstake to hitch on to whatever is flying. Except of course those unlucky Chinese and Indians and assorted others from that side of the globe who are still oddly committed to production of goods and services actually used by actual people in their daily lives.
Soon enough these smart fellas will catch on and then no one anywhere will have to work. Anglo-town, Europe and most of Asia will be brokers, PE moguls, Realtors (TM) and ERs. Africa will have some workers in the mines and the rest of the world will be on the dole.
Paradise Regained!
Ha