Black Swan

"Geopolitical conditions could deteriorate badly in the Middle East and Asia. America's reset toward Asia has alarmed the Chinese, who won't tolerate U.S. interference long term in the region. Then there's the possibility of a Black Swan event. If the S&P 500 drops 20%, the Fed will print more money, so that's not a huge downside risk. But the bond market could collapse, inflation could accelerate, or the Chinese economy could implode. Or we could have a destabilizing political event, or a pandemic..." (Marc Faber)