by John Mauldin
[…] For the past five weeks, I’ve written an open letter to the next president (whoever it turns out to be) about the economic realities he or she will face in the Oval Office on the first day. It is a rather daunting set of challenges. I have been trying to provide a realistic assessment of “what condition our condition is in.” The song the lines come from was actually a semi-veiled warning about doing LSD. My letters have been overt warnings about the economic dangers the next president and the country and the world will face.
In this week’s letter we will take a quick look at the condition of a slowing global economy (the IMF just downgraded its own forecast this last week). Then we’ll grapple with a Plan B scenario, because I have a confession of sorts: