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Ice

MISH continues to vote “Ice”.

I have my doubts, but his arguments are very strong.  At some point, given the debt levels, I believe the U.S. could face a Greece-style meltdown, with China belching out T-bonds and causing commodities (especially soft commodities) to skyrocket.

But the U.S. has nukes and other weapons of mass financial destruction, so I don’t think this scenario is likely.

Perhaps the banks will slowly bleed us to death in a vampiric deflationary economic twilight zone, as MISH predicts.

One thing is certain:  It’s going to be Fire or Ice.  It ain’t ever going back to the Goldilocks economy.  Ever.

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