Global Debt: Schumpeter's Creative Destruction

Global Debt: Schumpeter’s Creative Destruction by Steve Blumenthal, CMG Capital Management “What beat me was not having brains enough to stick to my own game – that is to play the market only when I was satisfied that precedents favored my play” Jesse Livermore – Reminiscences of a Stock Operator There has been a lot of debate on the Reinhart-Rogoff hypothesis. When debt becomes excessive, growth slows. Most of the academic work tends to support their conclusion. Today we take a sobering look at debt across the globe. It has increased by more than $57 trillion since the 2007 crisis…