Wealth Quote of the Day by Douglas W. Diamond, “The water’s been so high for so long that people didn’t even put on the skimpiest of bathing suits”​ Nobel economist Douglas W. Diamond warns hidden risks lurk in today’s low-rate economy. Corporations and banks overleverage during easy credit periods. Rising interest rates expose fragile balance sheets. Geopolitical tensions in Iran and Israel impact energy and financial markets. Diamond’s research highlights liquidity shocks and bank run vulnerabilities.