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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. https://www.zerohedge.com/news/2019-08-16/forget-yield-curve-its-argentinas-collapse-highlights-markets-biggest-problem #news #economy #banking #finance
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