John Mauldin – The Next Great Shock To The World

"...This is going to be a crisis that’s going to show up next decade … and where are they going to get the money?  What’s going to shock people is insurance companies and the big annuity companies that are guaranteeing so much of those funds.  It’s going to be a true crisis. 

And what most people don’t realize is that the insurance industry is a multiple the size of the banks.  It’s far bigger, far vaster and far more important. So this is what the Fed has done is they’ve made it impossible for these guys to make their numbers.  We are going to have to have pension and insurance and all sorts of reforms — that’s the next crisis.”

at http://kingworldnews.com/john-mauldin-the-next-great-shock-to-the-world/