"Prepare for financial apocalypse" - in so many words:
Our future doggie bags can hold steak bones or doo-doo of an increasingly familiar smell. For now investors should be holding their noses, their risk orientation, as well as their blue bags, until proven otherwise. Specifically that continues to dictate a focus on high quality bonds and steady dividend paying stocks that can survive, if not thrive, in our journey to a “new normal” economy of slower growth, muted profit gains, and potential capital destruction via default, abrogation of property rights, and dollar devaluation.
Read it all: Doo-Doo Economics (or listen to the podcast)
Comparisons between the economy and political responsibility to the content of dogy doo-doo... explicit warning from "potential capital destruction via default, abrogation of property rights, and dollar devaluation". One should not ignore such opinions.