Final cannibalization stage

According to The Economic Collapse Blog (which I am aware is run by a fundie Dominionist, but the guy still talks about things that really are happening in the global and domestic economies), big corporations are piling on massive debt in order to buy back their own stocks in order to artificially inflate the value of these stocks, in some cases taking on so much debt that they end up defaulting on it. If this is what they have to do to keep the financial markets propped up, I would go so far as to say that we are in a final cannibalization stage that presages a very major, very world-shaking correction.