Globe and Mail: Three ugly truths keeping George Athanassakos up at night
Finance professor George Athanassakos warns that markets are showing dangerous excess, citing “market exuberance in the face of governments around the world issuing bonds without any plan to raise taxes or cut spending.” He argues in his op-ed that investors are again believing that events are “different this time,” even as fundamentals point to rising risks from record margin debt and AI-driven corporate borrowing. Athanassakos notes that tech companies once “light on capital expenditures” are now “heavily indebted,” with opaque off-balance-sheet structures adding to financial fragility. “There is little doubt in my mind that a reckoning is nigh,” he writes, saying these conditions explain “why I’m having a lot of sleepless nights.”
