“The U.S? The end of Quantitative Easing. In fact, Quantitative Easing has accomplished little more than inflating stock and bond markets. It has been devastating to pensioners, destructive to U.S. city and state budgets, and non productive to employment levels.”

In January of 2016, China? Oil Prices? Saudi Arabia? Iran? Why Volatility? The Grand Surprise Part Two  is the follow-up. Most of what we discussed is quickly coming to pass, though marked by the foolishness of the Eurozone quantitative easing – read Quantitative Obfuscation:

“In conclusion, 2007-2008 is likely to be repeated in the foreseeable future. This time there are no engines of restoration on the horizon. The catalyst will not be the usual blah blah we read in the financial press. It will be the collapse of the financial structure of Europe, both Sovereign and private. World liquidity, which is strained today, will find its home at “zero”. The recovery will be long and painful.”

Our series on Greece began in April of 2010, Myths of Today:

“30 Billion Euro commitment will solve the problems of the Euro currency zone. As was the case with the American banks, the number 30 billion was put forth as the salvation of the system. At the top the U.S. government (taxpayer) exposure was about $12 trillion. In April of 2008 we put forth that the number would be at least $3 trillion. We were wrong by $8 trillion. The Greek needs are yet to be determined but they are not 30 billion Euro!”