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A big one is on the horizon. Greenspan warns us.

“Without any major change in entitlements, entitlements are going to rise. Why? Because the population is aging. There’s no way to reverse that, and the politics of it are awful, as you well know,” Greenspan added.

While he said the economy looks “reasonably good” in the short run, he expects that over the longer term, growth “fades very dramatically.”

The day of the fake paper financialization is about over. Reality is the name of the storm.