Courtesy of Mish.
In the past week, two readers, one of them a blogger, professed to “know” something that cannot possibly be known.
“Epocalypse” Now
The first person, an economic blogger, tells me a global economic collapse of biblical proportion is coming. He labels the collapse an “epocalypse” and offered a guest-post article that I passed on.
I responded “No one knows the precise timing of a collapse. There might not even be one.
Stocks could do a slow decline like Japan for years.”
You can start a countdown, because yesterday he pinged back “Check in with me at the end of the week.”
Crunch Time
Reader “BL” wrote …
Hello Mish,
It is crunch time. An escalation in interest rates will immediately bankrupt the United States because the country will be unable to service the eighteen plus trillion dollar debt.
The United States economy will collapse fifteen days after an increase in the interest rate. That is the real reason that Janet Yellen will do nothing forever. Do the math. What is the cost of a 1% increase in the national debt?
What are you afraid of? Speak the truth. Stocks are overvalued and will continue to be so until the crash. When will the crash occur? You know the answer. You have always known the answer. Tell the truth. The crash may occur before the next presidential election. What will that mean? You also know the answer to that question.
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