Given the length and breadth of credit that has been extended over the last decade, and the ever-more risky search for yield, it seems likely the next blowup will find its way into a wide range of unsuspecting American investment portfolios.
"As the world’s largest natural gas and oil producer and exporter, Russia plays an important role in setting the global geopolitical agenda... However, in another field of energy production Russia captures an even more dominant position: nuclear technology."
“To say we were striving for a one-world government is exaggerated, but not wholly unfair...we couldn’t go on forever fighting one another for nothing and killing people and rendering millions homeless. So we felt that a single community throughout the world would be a good thing."
"Today, systemic risk is more dangerous than ever. Too-big-to-fail banks are bigger than ever, have a larger percentage of the total assets of the banking system and have much larger derivatives books."
"The real danger, though, is military brinksmanship. And the inescapable fog of war. It’s not impossible to imagine a dispute in the distant South China Sea (7000 miles from California) resulting in combat and casualties between the US and China. This could quickly escalate out of control. And remember, we both have loads of nuclear weapons!"