Eric King: “You’ve been warning for some time that the global markets discount everything geopolitical and that may come back to bite us.”
Cashin: “I absolutely still feel that way. And I am concerned that there is inbred opinion that geopolitical events tend to be short-lived and therefore, in many cases, buying opportunities when you get them. I fear mightily that somewhere people might miscalculate and one of these things could turn into the equivalent of a Lehman moment in which everyone assuming that the worst will not happen discovers that the worst has happened and are ill-prepared for it.”
Eric King: “As you watch the ECB getting ready to ramp up its balance sheet once again, you (had previously) warned that we may see a similar about-face from the Fed in the future.”
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