For Bonds It’s D j vu All Over Again

One of the issues I’ve been pounding hard on over the past year is that there is no pent-up consumer demand, and there can’t be because all income is now collateralized to meet current debt-servicing requirements. As simple as this observation is I keep repeating it because I keep receiving communications from subscribers that essentially start with “Yeah, but…” and then go on to point out some way that demand may be caused to actualize.