"This train wreck isn’t simply going to hit a wall out of the blue. Actually, it has been forming and accumulating and expanding for many years now, and yet it has simply been ignored, particularly by the financial markets which have ridden this bubble to these extreme and historic heights... The only issue is, when does it hit the wall? The answer to that question is it’s not very far down the road, and I can promise you that is when all hell is going to break loose." - David Stockman at davidstockmanscontracorner.com
H/T: Ol' Remus at the Woodpile Report, who expands on something worse than a train wreck: A deflation-inflation disaster.