This is the third gigantic
bubble that the Federal Reserve has inflated and
when this one pops it's not going to be the third time's the
charm. It's gonna be three strikes you're
out because I think that this bubble is
too big to pop. It's the mother
of all bubbles and when it bursts there
is not a bigger one that the Federal Reserve is
going to be able to inflate to mask
these problems meaning that we
can't kick the can down the road anymore
we're gone we're going to have to deal
with these problems.
I think the
problem that we're going to be
confronted with is going to be much
worse than a financial crisis, it is
going to be a dollar crisis and it is
going to be a sovereign debt crisis
where the bonds that people are worried
about are not some subprime mortgage
that some guy borrowed money to buy a
house that can't afford. It's going to be
the US government that people are
worried about and the the the solvency
of the government and the Treasury bonds.
