This is the speech given by FPA Capital CEO Robert Rodriguez. Robert Rodriguez has had great track record in predicting financial crisis. He is warning us again.
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In 2009, I forecasted that, if nothing were achieved by the end of 2013, the likelihood was that , between 2014 and 2018, we would face increased financial market volatility that would end in a crisis of equal or greater magnitude than The Great Recession . Now that we're here , have I changed my thinking? No! In my opinion, we are living on borrowed time. Pun intended. Both Dave and I believe we failed because the message we carried just wasn't direct enough and it was too nebulous a concept. As a side note, Dave closed down his ComeBack America Initiative organization last year, where the mission was on e of educating the public about the dangers of debt and entitlement liability growth.
We concluded that something more personal must impact the electorate before it wake s up to the dangers of governmental excess.
Some of you in the audience may take issue with what I have to say now. Our nation has been led by two fiscally irresponsible presidents, George W. Bush and Barrack Obama. Both have presided over the largest increases in Treasury Debt as well as establishing new entitlement programs.
