"That Won't Be Allowed To Happen"

Occasionally I hear "That won't be allowed to happen," which has been said by many prominent people within the political, financial and economic community.  This phrase, in essence, is meant to say that some type of severe economic weakness or other calamitous economic event won't, and can't, occur.

I find this phrase rather mystifying; rarely is it specified as to "whom" will prevent such economic harm from occurring.  Presumably it is the government, Federal Reserve, Congress, the President, or perhaps just fate.

While it may be comforting to believe that adverse economic events "won't be allowed to happen," I don't believe, for a variety of reasons, that the idea reflects reality.

The best way to avoid adverse economic events or circumstances is through effective policy and decision making.

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SPX at 1028.06 as this post is written