“Through the ages, the principle of financial leverage has been both used by many and abused by the wealthy and powerful in society. The seduction of leverage is strong, in that it makes the difficult appear easy and the impossible seem within reach. It brings the illusion of equality between the wealthy man and the common laborer in the land of finance. You can think of leverage a drug, and an addictive one at that.” – Karl Denninger, from Leverage: How Cheap Money Will Destroy the World
The Editors’ Quote of the Day:
