Governments are trying to fix an unsustainable system piece by piece (hole by hole in a leaking boat) rather than addressing root causes, which will fail because they're patching symptoms instead of fixing the underlying solvency problem.

causalpending

Speaker

Felix Zulauf

Evidence Quote

That's in an extreme, that's how I see things evolving over the next few years. And I think we are far beyond the point where policy makers can do what they want to do and but they only have to do what's needed to do just to keep the boat afloat. Does it it doesn't sink. So it's like a boat on the lake instead of that is beginning to leak instead of rowing back to the shore quickly, you try to fix the the hole in the bottom and then the next hole and the next hole and eventually you may sink because of that. Instead of going and do it the right way, but that is politically not possible in a democracy. It's not possible.

Source

Jeffrey Gundlach and Felix Zulauf: The Second Inning of a Major ShiftDoubleLine Capital
Created: 8/12/2026, 6:25:56 PM

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