https://www.ianwelsh.net/what-phase-three-of-the-credit-cycle-looks-like-the-po… Created Thu, 26/03/2026 - 13:51 Updated Thu, 26/03/2026 - 13:51 ~by Sean Paul Kelley Courtest my alma mater Morgan Stanley, we have this graphic that perfectly depicts what the AI-Ponzi scheme looks like and just how incestuous it truly is: Is any other comment necessary? Tags financial crisis Uncategorized