...is maximum opportunity.
As I have said, after the 1st quarter, U.S. financial assets (although I am speaking directly to U.S. stocks) should stabilize.
All the same economists, analysts, pundits, etc. who extrapolated asset growth to infinity via the panglossian "great moderation" now do the same for doom and expect a Hobbesian version of the world of all against all.
What Rubbish. Behavior follows economics, yes, but this does not validate rhetorical arguments like "Well, after Weimar there was Hitler...so..." (see Godwin's Law for another look at this phenomenon)
On the liability side of this philosophical balance sheet lies politicians such as Mr. Frank, who now speaks of a Federal Agency to curtail "risk taking", whatever that entails.
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