Have We Reached a Global 'Minsky Moment'?

You have to wonder, given the circumstances today, if there is such a thing as a perpetual Minsky phase. The Minsky moment was first theorized as a point in the “cycle” in which borrowers, lustily seeking geometric leverage progression, begin to experience trouble simply maintaining debt. From there bidders are increasingly more difficult to find, making price momentum suspect, and then subject to reversal, eroding the very price foundation (straight-line extrapolations of “permanent prosperity”; which is nothing like prosperity) upon which all that debt was based – eventual collapse.