Here at the Granite Club in North York, Ont., futurist Richard Worzel is launching his presentation on the future, and what we can do about it.
The CEOs of 120 of Canada's Fastest-Growing Companies are sitting in rapt attenion.
I will be live-blogging till my battery runs out.
Worzel starts by saying, "Predicting is easy- it's being accurate that is difficult."
First big insight: If the recovery is stronger than we expect, "we could see the highesst inflation since the 1970s."
He notes the Chinese, who own the biggest chunk of US debt, have said they're uncomfortable with the US debt and the value of the US dollar. "Suppose," says Worzel, "they hold a treasury auction and nobody comes?" Result: the US will have to print all its own money supply (instead of just some of it), which could lead to an even greater financial crisis.
The first question you should ask: "What if I'm wrong about my [economic] expectations? What will happen, and what could I do about it?"
Clearly, the risks are too great today to rely on just one outcome.