By David Chapman – Re-Blogged From http://www.Silver-Phoenix500.com
“I don’t believe we will see another financial crisis in our lifetime.”
- Janet Yellen, Fed Chair, June 27, 2017
Oh, Janet. We hope you are right. One should never say never—that has a nasty habit of coming back to bite you.
Texas and Houston are currently going through their crash. No, not a stock market crash but a hurricane and flooding crash. Hurricane Harvey has been called a “once in 500 years’ event.” Except in the past twelve years, we have also had Hurricane Katrina and Sandy. They were called “once in 100 years events.” The 400-year difference seems moot. It is becoming a little flippant to call them “once in a lifetime” events when three “lifetime” events have occurred in twelve short years. Yet, for all of them the experts did not see the devastation that was coming.