Hi Raymond, <<The distribution portion of the cycle is nearing an end. Soon, the capitulation will make accumulation worthwhile to the CEOs who'll get new financing for a round of management buyouts starting in another year or two. Then the exhausted shareholder will be willing to give up his asset for pennies on the dollar. Only to see the same companies IPO again in five or six years. The genius of capitalism. :)>>
Yup, I agree that this is the script. The timing may be later, and longer than normal, this round of creative destruction and rebirth, given the absolute relative-to-population and relative absolute-to-GDP debt level, scale of previous mistreatment of capital, lack of domestic savings funding, WAT-tax surcharge, globalization, popular have-nots revolts, and the dead hand of ACF Mike’s demographic concerns.
Allow me some hedge wiggle room;0)
Should the start-time and elapsed-time of the script be earlier and shorter, it will probably be because of the so far not-widely-expected depth of despair reached via financial asset implosion.
To sum, this time events may turn out different.
Chugs, Jay |
