Traveling Into Uncharted Waters Looking for Ben
Posted by Larry Doyle on November 29, 2011 6:51 PM |
What lies ahead on our global economic landscape?
While market analysts and economists are paid to provide opinions, you know what they say about opinions.
Our global economy and markets have been supported by such unprecedented levels of government intervention with accompanying massive unintended consequences that trying to navigate our economic landscape can only be equated to “traveling in uncharted waters.”
Certainly, assorted market mavens, economic soothsayers, and political pundits will offer their opinions — and that’s what they are paid to do — but let’s be real, we are so far over our heads in terms of ongoing embedded losses in our global banking system that we really cannot provide a longer term chart for what lies ahead.
I defy people to provide a well defined outlook for what will likely happen in Europe and to the euro. The stakes are so high and the pressures so great that any number of scenarios could play out. How the chips fall will have tremendous ripple effects across all market sectors and the economy at large.
I am not so sure the banks themselves know how to fully and properly prepare for what might lie ahead. My personal take is that the major banks on Wall Street and their counterparts in Europe assuredly have Ben Bernanke’s direct line on their speed dial.
The fact that Ben bailed out the global banking system back in 2008 has set a precedent for this next iteration of our global economic crisis.
Navigate accordingly…and bring your life preservers.
I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets, our economy, and our political realm so that meaningful investor confidence and investor protection can be achieved.