How the Debt Black Hole Is Warping the Economy: Private Credit Edition

There is a giant debt black hole, and it is warping everything around it in the economy.  When we mention the debt black hole, you probably think of the national debt first. It is on the verge of eclipsing $40 trillion. But consumers and corporations are also leveraged to the hilt. In this episode of the Midweek Memo podcast, host Mike Maharrey exposes the ramifications of the debt problem by highlighting the growing risk of a private credit market meltdown and explaining how it could impact the broader financial markets and the economy.  He also proposes four reasons why central banks are piling up gold and replacing dollars. (These two themes overlap!)