The Global Debt Bubble Enters Its Blow-Off Stage

3) Bubbles generally end this way, with everyone just giving up on self-control and grabbing for one last piece of easy money.

All three of these rationales will probably turn out to be mistaken. But that’s just how it goes in financial manias. As Credit Bubble Bulletin’s Doug Noland notes, “It’s difficult to envisage a more manic bond market environment – at home or abroad.”

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