The resulting erosion of collateral will collapse the global credit bubble, a repricing/reset that will bankrupt the global economy and financial system.

The resulting erosion of collateral will collapse the global credit bubble, a repricing/reset that will bankrupt the global economy and financial system.
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The Everything Bubble and Global Bankruptcy - Activist Post
The collateral collapses when bubbles pop, but the debt loaned against the now-phantom collateral remains.
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