Instability

Your Starting Conditions Matter

“… [T]he trigger for a crisis could be anything if the system as a whole is unstable. Moreover, the size of the trigger event need not bear any relation to the systemic outcome. The lesson is that policymakers should be focused less on identifying potential triggers than on identifying signs of potential instability.”

– William White, former Chief Economist of Bank for International Settlements

My friend John Mauldin puts it this way, “My thesis is that over the next decade we will endure increasingly damaging debt crises that culminate in a coordinated global . . .

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