Are We Close to the End of the Credit Cycle?
Zombie Companies have risen to all-time highs due to cheap money and high liquidity. Endless refinancing perpetuates overcapacity and incentivises low productivity. …And you wonder why salaries don't rise. (source BIS) pic.twitter.com/UqLdfDq4BC — Daniel Lacalle (@dlacalle_IA) March 14, 2018 https://twitter.com/OccupyWisdom/status/973863037756170241 …