Has A New Gold Bull Market Begun?, page-123

Joe - I'm no specialist in Credit Markets either, but for the big boys, Debt is where it's at, not equities...think The Big Short - all about Bonds... This as also true in Lewis's first book, Liar's Poker (1989), when he was at Salomon Bros. (where MBS were invented, and it's how the book / movie starts) - debt was the place to be.....equities....were the sewer.....
Just seeking to instill clarity of language, thought etc....maybe even impart some knowledge....surely this is relevant to yield curves and spreads?
They were wrong in the famous song in the movie Cabaret - it's not money that makes the world go round...it's debt.