Two\u00a0predictions\u00a0can be made with reasonable confidence:<\/p>\n Nothing is ever certain. An experienced CFO told me at the beginning of my career that \u201ceven the impossible has a 20% probability.\u201d In deference to him\u00a0and years of empirical evidence,\u00a0I put the the above two events as virtually certain, i.e., an 80% probability.<\/p>\n Phoenix Capital<\/a> provided reasons to expect horrible outcomes: The cumulative effects of decades of interventions to mask economic weakness are harmful to the economy.\u00a0<\/strong>Statistical manipulation and outright lies in government reporting of economic conditions suggest that times are becoming ever more desperate for the political class. There is not enough bailing wire in the world to hold this train wreck in check. Nor is there any way to solve the massive problems created over decades.<\/p>\n Mac Slavo<\/a>\u00a0believes we are already in a world-wide depression stating:<\/p>\n With stock markets in China having self destructed, Greece and Europe in another crisis, and corporate earnings for some of the world\u2019s biggest corporations showing lackluster performance, it should be clear that the situation is rapidly deteriorating.<\/p>\n But for the last several years America has appeared to remain fairly insulated from overt\u00a0crisis. We were told that a recovery had taken hold, jobs were returning and consumer confidence had reached new highs, propaganda which drove millions of investors back into stock markets and real estate. No one in the mainstream world, it seems, believes there\u2019s anything to be concerned about.<\/p><\/blockquote>\n Except there is.<\/p>\n Nassim Taleb<\/a> described the problem:<\/p>\n Uncertainty should not bother you. <\/strong>We may not be able to forecast when a bridge will break, but we can identify which ones are faulty and poorly built. We can assess vulnerability. And today the financial bridges across the world are very vulnerable. Politicians prescribe ever larger doses of pain killer in the form of financial bailouts, which consists in curing debt with debt, like curing an addiction with an addiction, that is to say it is not a cure. This cycle will end, like it always does, spectacularly.<\/strong><\/p><\/blockquote>\n Each intervention has been\u00a0bigger than the previous one.<\/strong> And they are needed more frequently. Bad times are here and have been despite what government says. Worse times lie ahead. Only the date is unknown.<\/p>\n Government is helpless at this point. <\/strong>Their cover-ups have made matters worse. When the unknown date arrives, America will likely look like some third-world country. Its political system may not survive.<\/p>\n Welcome to Venezuela with nuclear weapons.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Only The Date Is Unknown Monty Pelerin’s World The US and world economies are frauds that are coming unraveled. The Greek bailout is the most recent example of \u201ckick the can down the road\u201d solutions. The US housing bubble\u00a0was an … Continue reading ![\"\"](\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/08\/20150818_time.jpg\")
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The Current Problem<\/h3>\n
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