More on the corporate leverage puzzle
Just a few days ago, I pointed out a nice article by Yves Smith from naked capitalism indicating that corporate balance sheets may not be as healthy as most economists and analysts have been claiming them to be for the past several years. As the credit cycle turns, it wouldn’t surprise me at all to see more articles like that coming out. Here is another from FT:
Greed will always find a way. That is one clear lesson I’ve learned so far.