While at the New Orleans Investment Conference this past weekend, Chris and I had the great pleasure of sitting down with Grant Williams, publisher of the economic blog Things That Make You Go Hmmm and principal of Real Vision TV. There will be no smooth transition back to sustained economic growth, he warns. Instead, the distortion of today’s excessive asset prices will require a systemic reset to fix. Either by a deflationary event that destroys the malinvestment, or by an inflationary event that destroys the currency. Either way, a shock to the system awaits us.