The big view from financial industry notables: What can go wrong?

Financial Times/Katie Martin, Laurence Fletcher and Eric Platt

Repost from 12-26-2020

Investors’ views on the big risks to markets in 2021. Against a rosy consensus, dangers lurk in inflation, a virus setback, and the sheer weight of optimism.”

USAGOLD note: Much speculation contained herein contingent on unfolding events, most of it revolving around whether or not we will get inflation in 2021. Scott Minerd’s comments, in our view, go to the heart of the matter. “It [the free market system] has been replaced,” he says, “by cycles of increasingly radical monetary intervention, the socialization of credit risk, and a national policy of moral hazard. This is troubling……” Since we have never been in a situation quite like this one before, there is no operating manual to guide us. For his part, Humpty remains on his wall oblivious to any danger of a great fall.

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