104 years ago today, the Titanic hit an iceberg
No economy is unsinkable
Markets are cruising along in quiet seas but the anniversary of the sinking is a reminder that a devastating turn of events is impossible to predict.
If anything is the RMS Titanic of the modern global economy, it's China. It's sailing in unheard of seas of endless 6-7% growth. Yet people have been saying that for a decade and the ship continues drive forward.
The war drums in the Middle East and Ukraine have quieted lately. The energy and commodity implosion certainly felt like a Titanic-event for anyone who was stuck holding the bag (or the junk bonds).
The final iceberg to watch out for is US politics. The establishment vs non-establishment battles amongst Republicans and Democrats could get ugly in the months ahead.
What icebergs are you watching for?