by Brandon Smith, Alt-Market:
By any reasonable measure, I think it is safe to say that the last quarter of 2013 has been an insane game of economic Russian Roulette. Even more unsettling is the fact that most of the American population still has little to no clue that the U.S. was on the verge of a catastrophic catalyst event at least three times in the past three months alone, and that we face an even greater acceleration next year.
The first near miss was the Federal Reserve’s announcement of a possible “taper” of QE stimulus in early fall, which sent shivers through stock markets and proved what we have been saying all along – that the entire recovery is a facade built on an ever thinning balloon of fiat money. Today, markets function entirely on the expectation that the Fed will continue stimulus forever. If the Fed does cut QE in any way, the frail psychology of the markets will shatter, and the country will come crashing down with it.
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