All Roads Lead to the Bubble-City Danger Zone
By Gary Christenson
GoldSeek.com
Friday, 23 June 2017
Bubbles always pop, whether they exist in stocks, gold, confidence in the media, belief in central bank omnipotence, real estate, or debt. Yes, it could happen anywhere, and based on history, is likely. This time is not different, unless it will be worse…
From Jared Dillian: “The Everything Bubble”
“Also, nowadays, we have no idea what kind of malignant political forces will be unleashed if we have a real, hard-landing recession …
Does it all get pinned on Trump? Probably.
Does it push the left further left? Probably.
Does it increase the chance of real instability in 2020? Yup.
…
I have been making bearish noises for a while, but I haven’t been willing to stake my reputation on it.
I am now willing to stake my reputation on it.
I think we’re very close to a downturn. I will be surprised if this doesn’t come to pass within 6 – 12 months.”
From Steve Seville: “The Central Bank Moment”
“These days, however, the price of credit is distorted primarily by central banks, and the central bank is most definitely not a natural part of a market economy. Therefore, what is now often called a ‘Minsky moment’ could more aptly be called a ‘central-bank moment.’”
I expect the next ‘central-bank moment’ to arrive within the coming 12 months. I also expect that when it does arrive it will generally be called a ‘Minsky moment’ or some other name that deftly misdirects the finger of blame, and that central banks will generally be seen as part of the solution rather than what they are: the biggest part of the problem.”
The Rest…HERE
