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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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