IPO Day!, page-177

My "base case" is effectively a crash before then next and final debasement. For the crash, that might just be constrained to the tech and financial / banking sectors, which is dragging the economy down (chicken or egg?), all the excessively high PE stocks.There will be more bank failures which will eventually end up with massive money printing. The VP in waiting wants a lower dollar, but other countries won't so we'll end up in a race to the bottom as all currencies need to debase in tandem.While stocks will perform well in price terms, they won't do so well in real terms.