Here are ten possible factors in why it’s so difficult to predict crisis/reset.
by Charles H. Smith, Of Two Minds:
Doom-and-gloomers (myself included) have been wrong for four years. The financial markets continue higher, and the excesses of the status quo continue expanding with little ill effect (so far).
Why is it so difficult to predict the onset of crisis/collapse? The question is equally valid for both bears and bulls; how could all the boosters of housing be so wrong in 2008 when they asserted that “housing is not a bubble”?
I’ve assembled ten possible factors in why it’s so difficult to predict crisis/reset:
1. Everyone in the status quo has a stake in its survival. Every one of us wants to get our social security, our disability, maintain the freedom of a personal vehicle, have access to clean water and all the other goodies, and those becoming (or maintaining) wealthy and powerful in the current system want to retain their wealth and power.
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