by Simon Black
This is going to be a rough day for a lot of folks. But it’s one that I’ve been writing about for quite some time.
I’ve been saying for years that, at some point, there will be a severe financial reckoning. We wouldn’t know how, and most likely, we would have very little advance warning.
As an example, in June 2018 I wrote “whatever causes the next major downturn can be something completely obscure and unpredictable. And no one realizes it until it’s too late.”
That day is now upon us.