The Mania Begins

Update: 2025-11-26

Description

CrossBorder Capital founder Michael Howell built his framework for tracking global liquidity while at Salomon Brothers. His central thesis: the ratio between debt and liquidity predicts financial crises and asset bubbles. Howell explains why the $350 trillion global debt pile requires $70 trillion in annual refinancing, how ZIRP created the "everything bubble," and what happens when the bill comes due.

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In Channel

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#box-pro-ellipsis-176429786175561{-webkit-line-clamp:2;}The Mania Begins

The Mania Begins

The Mania Begins