In early 2007, while sitting with friends at the marina clubhouse in Mazatlan, I raised a concern of a looming financial disaster that I compared to a terrible tsunami that could be seen on the horizon. Last year, I heard from my friend in Mazatlan - that the local businessman sitting at the table with us on that day still remembers that conversation quite vividly.
The financial tsunami I see now looming on the horizon will dwarf that one by orders of magnitude.
We still have a little longer for the music to play. But keep your eye on the chairs and the exits. Prepare now.
U.S. Is Bankrupt and We Don't Even Know: Laurence Kotlikoff
http://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.html
Taleb Says Government Bonds to Collapse, Avoid Stocks
http://www.bloomberg.com/news/2010-08-11/-black-swan-author-taleb-says-he-bets-on-collapse-of-government-bonds.html
The Long-Term Budget Outlook June 2010
http://www.cbo.gov/doc.cfm?index=11579
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