The Wall Of Worry: Melt-Up Now, Capital Destruction Later?

Tiny tech bubble feelings

"...vendor financing was a feature of that era and when when the telecom equipment makers (Cisco, Lucent, Nortel, etc.) extended loans, equity investments, or credit guarantees to their customers who then used the cash/credit to buy back the equipment…well suffice it to say, it did not end well for anyone." (GS, Privorotsky)