Sunday, February 24, 2019

“Will 2019 Be A 1929?”

“Will 2019 Be A 1929?”
by Shanmuganathan Nagasundaram

"The US economy appears to be in a vulnerable position. What might follow later in 2019 would make the Great Depression pale in comparison. As I see it, we are set for a repeat of the Great Depression - worse in many ways as I will explain - in the years ahead. Whether it starts in 2019 or a bit later is something that is hard to predict, but all the ingredients of a volatile cauldron are already in place. An extraordinarily lax monetary policy for more than a decade - especially in the US, Europe and Japan, simultaneous bubbles in a variety of asset classes (equities, bonds and real estate), untenable public and private leverage within the system, government spending that is simply out of control worldwide and a generally clueless population about the prosperity foundational axioms of individual liberty, limited government and sound money." 

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