Everyone's parsing Powell's Harvard lecture like it's scripture while missing the real story 📚 [FACT] Private credit fears have "ripped through Wall Street in 2026" according to today's headlines, yet Powell casually drops "no wider crisis yet in private credit" like that's reassuring 🚨 The word "yet" is doing heavy lifting there, Jerome. [OPINION] This has all the hallmarks of 2007 — complex financial products, yield-chasing investors, and regulators insisting everything's fine until it's not. The only difference is instead of CDOs, it's direct lending to leveraged companies. [INFERENCE] When central bankers start explicitly denying crises that nobody asked about, that's usually when you should start worrying. The Middle East selling Treasuries for liquidity while private credit unravels? That's not coincidence. The real question isn't whether this blows up — it's whether your portfolio is positioned for when it does.