Detailed market commentary at The Market Ticker
(The Year 2012 In Review)
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|User Info||"It" Happened; entered at 2009-04-14 09:43:45|
Marginal productivity of debt did not go negative until sometime in the last year or thereabouts, and there's some argument about exactly where that line is (the measurement of it is a VERY inexact science.)|
It is unquestioned, however, that it is FAR lower than it was 10 or 20 years ago.