The "If...Then" Bomb

If the global economy were to turned down due to some unforeseen exogenous event, what could possibly be the governmental response given the fact interest rates are at 0%, central banks balance sheets are at unprecedented levels, and there is no political will for fiscal debt? In light of the fact that stocks are at valuation levels that leave little to no room for error, shouldn't a prudent investor feel some degree of concern?

To view my most recent media appearance which included what I call the "If...Then" bomb, "click here."