Dan Oliver of Myrmikan Capital (Video must watch!)
So as EBITDA for companies begins to flatten out and/or decline while corporate interest burdens rise as corporate interest rates rise, then the cash to service debt declines. The capital investments made while interest rates were low draws on capital that is NOT there since credit is not based on real savings. Mal-investment shown in massive overcapacity and declining demand in commodities causes equity holders to be wiped out and banks to teeter. The Fed will respond reflexively as it has over the past 101 years.
Does anyone see ANY OTHER outcome besides either a credit or currency collapse? Reward!