Bank executives would search for businesses that could get more horsepower, and that inevitably means taking on more risk, thus making more demands on regulation, which will inevitably fail at some point, the likelihood rising with time and success.
Even managers who are less bearish than Mr. Rodriguez accept the likelihood of rising rates and falling bond values in the next year or two.
Little wonder that Britain's man in Harare has been busy assessing the likelihood of rising civil unrest and a military coup.
The likelihood that rising financing costs will pinch private equity returns, coupled with the possibility that Congress may eliminate a tax loophole enjoyed by buyout funds, adds to the gloom hanging over the industry.
Still, there are sectors he does not like because of the likelihood of rising rates, a list that includes financial services and housing stocks, which would suffer as potential home-buyers find it costlier to borrow money.
With the likelihood of rising inflation at home and possible higher interest rates abroad, it's time to bring in the defensive team.
Not to mention the likelihood of rising interest rates, inflation and a failure of that much-anticipated corporate profit growth to materialize.
Interestingly, location is among the key factors determining the likelihood of rising out of poverty.
The likelihood of promotion rises by 40 percent.
