Colin, I agree that trhere are many variables that would eventually be unveiled as the cause. Fundamentals have a way of making a lot of sense in retrospect.
I can certainly see the debate fundamentally for any particular outcome.
That's where I have found studying cycles and market structure to be a more accurate way of assessing the probabilities.
I don't take multi year positions, but methodolgy wise, my work is the same at 1-3 weeks as it is at 1-3 centuries. Of course, synergy of cycles and market structure are always evolving, making longer-term predictions subject to change / tweaking as more data is obtained.
Nevertheless, I see the high probability of an economic upheavel rivaling the Great Depression within the next 20 years.
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