I’m looking for a specific kind of diagram, a sort of directed graph of how debt/leverage chains from state debt to consumer debt via institutions. With numbers on reserves/interest rates/time constants/maturation horizons.
Like a correct, more detailed version of this cartoon.
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You can try the Zoltan Pozsar magnus opus from 3 years ago, which is the high watermark of this, but he is heavy, contextual reading.
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Yeah scratch that. It was 5 years ago and focused on shadow banking anemyway. Not much talk of commercial debt.

