The scenario is not going to happen as described. That is not to say it won't happen; but over-pricing leveraged buyouts isn't going to be the keystone, IMHO. Companies folding because they are ovcer-extended and don't have the market to service their own debt will happen, but I doubt it will happen in sufficient domino-like chains to precipitate an economy wide collapse.

If such chains do develop, we will face a depression, and will have to grind our way out of it; and when that occurs we will be able to trace it back to Bush 1, Bush 2 and Pops Regan, IMHO.

This is because they created a climate which nourishes exuberant acquisition as the guiding pole-star of business, reinforcing the worst characteristics of a gluttony-based economy, neatly rationalized with glib phrases about free enterprise and laissez-faire.


But, as I say, I suspect it is not going to go down the way this article describes it.


A