who is that knob at 2.10, page-8

Only two scenarios in the US are possible in my view. (1) modest relief rally off back of okay financial sector results in the short term (in which case sell into rallies); or (2) sudden realisation that the US economy is a basket case (think Australia in the late 80s only a billion times bigger), collapse of the global US$ standard and a sustained period of massive fiscal dislocation (in which case sell every stock you own including OXR and buy physical gold as the paper stuff won't protect you).