central banks go all in - altegris/media/files/sic2013/d2_5_johnmauldin... · 2013-05-30 ·...
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Code Red Central Banks Go All In
A Presentation by John Mauldin
Author of ENDGAME and Editor of
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A New Clear Disclosure Standard
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Quantitative Easing For Dummies
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Thomas Paine
What we obtain too cheap,
we esteem too lightly: it is
dearness only that gives
everything its value.”
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Unsustainability
If something cannot be sustained, it will change.
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What is Unsustainable?
A world in which expenses rise
faster than income
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Debt
The End of the Developed World Debt Supercycle
1
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Unbalanced Entitlement Promises,
Primarily Pension and Health Care
(Think Demographics!)
2
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Unlimited Quantitative
Easing!
3
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The World and Especially Progress is
NOT Linear
What is NOT Unsustainable Food, Energy, Technological Change, Human
Adaptation and
Most Importantly Growth
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Where are the
Current Sources of Unsustainability?
1. Japan
2. Europe
3. The US
4. China
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A Thought About Austerity
Of Course it Doesn’t “Work”
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Enter the New Economic Paradigm The World of Schumpeter and Minsky
Stability, Instability and Creative Destruction
Joseph Schumpeter
and Hyman Minsky
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What is The Characteristics
of Sustainable? 1. It Serves Basic Human Needs
-Food, Clothing, Housing, Social Networks!?!?
2. It is Adaptable and Antifragile
-Technology, Communications
3. It Creates Ever Increasing Abundance at Lower Costs
- Biotechnology, Robotics, Nanotechnology, Etc.
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Into Uncharted Territory
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Living in Reality
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The Major Central Banks Issued a
Code Red
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For more information visit JohnMauldin.com
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