More financial market leverage. The Mark of the Beast is glimpsed in the derivatives complex. It's a confirmation that leverage is alive and well, and growing by the quarter. As you know, estimates of total notional derivatives outstanding in the US financial system is at best a guess. Lax disclosure regulations cloak the ability to intelligently assess system wide risk.
Corporations are immune from disclosure.
Hedge funds are exempt. The only place where we can catch a glimpse of exposure is in the US banking system. And even then, it will not be found in 10K's, 10Q's, annual reports, company press releases, and certainly not from the Wall Street analytical community. It can only be found in bank regulatory filings. Despite higher interest rates, credit inside and outside of the US banking system continues to grow at a significant pace.