Friday, December 18, 2009

No way out of here

said the joker to the thief:

Karl Denninger.

1 comment:

  1. It's hard to argue with Karl when he talks about the math..., but he about lost me with a couple of his rants. You got to wonder about his intellect when he says global warming is a hoax. And when he expended all that vitriol over the bank manager who asked people not to display flags outside the branch and he called for something just short of a tactical nuclear strike of the entire corporation. Makes you wonder how well placed other calls to action are?

    Have we really hit the wall this time with our debt? My brother has been saying that since Reagan and his tripling of the debt. My reaction then was..., it's all just paper, they are just adding a few zeroes to the equation. And they have been continuing to do it ever since.

    Is it different this time? I think so..., because of the housing bubble. Those are real assets..., not just paper this time. I don't think there is any doubt that "we" are trying to inflate our way out of this trap..., Karl and Mish say we can't do it..., and I agree. Japan tried it..., but I am afraid that our efforts won't be so isolated to the US as Japan's were to them. What the US does is going to effect the world economy. And if we hit that wall..., it isn't going to stop us..., that wall is coming down.