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We have all watched the talking heads as everyone is just trying to a get handle on the current situation. Anyone that tells you that they know for certain what will happen in the short term is either naive or worse. But let's look out over the horizon a bit and we can make a few rationalizations.
The Era of Financial Engineering Has Ended
Funny thing about black swans - real black swans - is that no one really sees them coming. I would not actually classify 2008-2009 housing crisis as such. Many saw that