[Ed. Note: Jim Rickards latest New York Times best seller, The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis (claim your free copy here) goes beyond the election and prepares you for the next crisis]
An earthquake doesn’t care if you’re progressive or populist. It destroys your house all the same. Likewise a financial crisis is indifferent to a politician’s policy mix.
Systemic crises proceed according to their own dynamic based on the array of agents in a system, and systemic scale.
The tempo of recent crises in 1994, 1998, and 2008 says a crisis is likely soon. A new global financial panic will be one legacy of the Trump administration. It won’t be Trump’s fault, merely his misfortune.
The equilibrium and value-at-risk models used by banks will not foresee the new panic. Those models are junk science relying as they do on notions of efficient markets, normally distributed risk, continuous liquidity, and a future that resembles the past. None of those hypotheses match reality.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
7 comments:
Reading between the lines: "The sky is falling! The sky is falling! But you can survive if you just buy gold (where I get a cut of the sales). Just call 1-800-...."
No doubt in my mind that he can correct anything the current failure leaves behind ( key-word, leaves behind) go-go, get, move, give us some relief. That is why we the people choose Mr. Trump. Thank you President-Elect Trump!
we all know this is part of the Obama Legacy. I pray President Trump will be able to turn this around, but I know he has a huge task before him...
Trump will show oboma's how it's done
Not that he would care
He has no worries
Trump is smarter than the Democrats.
Changing the economy cannot happen overnight. But I think it will be better under Trump.
There are no free markets.
There is no price discovery for assets.
The international bankers have checkmated the people of planet earth.
There will be a financial calamity when our earthly masters decide it is time.
Not before, and not later.
Everything is completely under their control.
Learn the truth.
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