“All of this was baked into the cake when the economy began to collapse on the back of deleveraging debt and the liquidity crisis. The players don’t really matter.”
You ever read Robert Prechter? He says pretty much the same thing.
I would like read much more from Prechter. I only discovered him last year. Those I follow taught me that the collapse was imminent. The collapse wanted to happen after the dot.com bubble, but Greenspan flooded the world with liquidity, which delayed but greatly worsened the collapse.
I would love to read more Prechter if I could find him. I guess he has some books but I would hope he had a column I could find on the internet. I do value his analysis. He seems to be on the ball.