Minsky's Financial Instability Hypothesis and Recent Market Movements

This Bull Market Has a Troubling Reliance on Speculation
https://www.wsj.com/articles/this-bull-market-has-a-troubling-reliance-on-speculation-11616679727
Hyman Minksy’s three stages of debt help us understand the extraordinary stock market rally that began a year ago this week.
 
Related:
https://www.economist.com/schools-brief/2016/07/30/minskys-moment