A “Minsky moment” is a sudden, severe market collapse that marks the end of a prolonged period of debt-fueled speculative growth. Named after American economist Hyman Minsky, it happens when investors can no longer cover their spiraling loan payments, triggering a frantic, chain-reaction sell-off. First we turn to the passing of Alan Greenspan - the ‘maestro’ - one of the most powerful of American Federal Reserve governors. He died two days ago, on 22nd June.