Last week's #debt downgrade for Argentina is another warning sign that a new liquidity crisis is looming.
A repeat of 2008 is in the offing, as a growing imbalance between buyers and sellers sets the stage for a new meltdown in global securities markets. Just as in 2008, if/when buyers become sellers all at once, there are no buyers--and market prices immediately nosedive.
Central banks, the supposed stewards of economies and financial markets, have failed utterly to address the essential condition for any marketplace to function properly--an abundance of both buyers AND sellers. Too much of one or the other and market collapse is inevitable.