<?xml version="1.0"?>
<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>The Beginning of the End? | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="pAaMvaPKKn"&gt;&lt;a href="https://www.nakedcapitalism.com/2007/06/beginning-of-end.html"&gt;The Beginning of the End?&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2007/06/beginning-of-end.html/embed#?secret=pAaMvaPKKn" width="600" height="338" title="&#x201C;The Beginning of the End?&#x201D; &#x2014; naked capitalism" data-secret="pAaMvaPKKn" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
/* &lt;![CDATA[ */
/*! This file is auto-generated */
!function(d,l){"use strict";l.querySelector&amp;&amp;d.addEventListener&amp;&amp;"undefined"!=typeof URL&amp;&amp;(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&amp;&amp;!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i&lt;o.length;i++)o[i].style.display="none";for(i=0;i&lt;a.length;i++)s=a[i],e.source===s.contentWindow&amp;&amp;(s.removeAttribute("style"),"height"===t.message?(1e3&lt;(r=parseInt(t.value,10))?r=1e3:~~r&lt;200&amp;&amp;(r=200),s.height=r):"link"===t.message&amp;&amp;(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&amp;&amp;n.host===r.host&amp;&amp;l.activeElement===s&amp;&amp;(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r&lt;s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document);
/* ]]&gt; */
&lt;/script&gt;
</html><description>For quite some time, we have written about indifference to risk, unjustifiable asset prices in many markets, and high levels of liquidity all as different aspects of what John Authers called &#x201C;overvalued credit&#x201D; meaning overly bullish (more accurately speculative) conditions in debt markets which fuelled overheated conditions in asset classes that could be financed (and [&hellip;]</description></oembed>

<!--
Performance optimized by W3 Total Cache. Learn more: https://www.boldgrid.com/w3-total-cache/

Page Caching using memcached (REST request) 

Served from: www.nakedcapitalism.com @ 2024-03-31 17:03:56 by W3 Total Cache
-->