Posted on 05/30/2011 9:34:15 AM PDT by george76
In an almost verbatim repeat of Carl Icahn's words of caution which we noted yesterday, Templeton's legendary chairman Mark Mobius said that "another financial crisis is inevitable because the causes of the previous one haven’t been resolved" ... at the Foreign Correspondents’ Club of Japan in Tokyo...
"There is definitely going to be another financial crisis around the corner because we haven’t solved any of the things that caused the previous crisis,” Mobius said at the Foreign Correspondents’ Club of Japan in Tokyo today in response to a question about price swings...nothing in the structure of capital markets has changed, and that the market could any day open not only bidless, but broken beyond even Brian Sack-ian band aid repair.
...
He also blasted the lunacy of Too Big To Fail, where the Fed and the FDIC took an already unstable system, and made it even more brittle, by concentrating more deposits and more assets with a record low number of banks
(Excerpt) Read more at zerohedge.com ...
Bump, for later
I count 5 and probably 6 things that I believe will create a perfect storm:
1. Our ever increasing debt
2. The declining value of the dollar
3. Inflation
4. Persistent under- and unemployment
5. The continuing fall of the housing market
6. Persistently high gas prices.
You could add more I’m sure.
Until we clear out the dead wood we'll remain on the precipice.
And once we do, we'll go over it.
Deep in the canyon below are green shoots, but we have to get there.
Eventually we will, one way or another.
7. Keynesian economics
bump for later
In the ‘comments’ section, the thesis put up by ‘rufusbird’ is exceptional imo.
7. Having an idiot for president.
8. a MSM that has brainwashed people into stupidity.
another one?!?
...i guess i missed the first one being fixed...
I suspect that Mobius is only giving us one side of the story.
No problem. The Masters of the Universe have applied all of their economic and propaganda weight against oil prices for weeks and will soon monetize more debt (next QE). [Little irony and sarcasm there.] There’ll be lots of money for everyone. Well...okay, not everyone.
economics bump for later..........
Ordinary citizens in the USA are and will be getting haircuts, to a far greater degree than favored elite classes such as government employees, banks, companies, etc.
The question waiting is will they ever resist the haircuts, or will they allow themselves to be herded back for clipping like sheep, over and over?
It is already underway, with health care, banking fees, etc.
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