debt is bad, page-3

Which means it has to get a whole lot uglier before people actually look at the risks of debt rather than the benefits of debt.

The latest Daily Reckoning has a good piece of the deleveraging of Australia's boom. Food for thought.

This is the time to be consolidated and waiting patiently for the highly and overleveraged to fall over and create value in assets essential for the next 'real' boom. One that actually deals with a global problem such as getting across to renewable energies or the next green revolution.