We are approaching a National Minsky Moment
Submitted by gjohnsit on Mon, 08/30/2021 - 2:23pmI consider Hyman Minsky to be the last, great economist. His most significant discovery is that "stability breeds instability". To paraphrase, the longer a market is stable, the more unstable elements accumulate.
He went on to describe the three phases of a market as such:
