Denninger lays it out for us.
This is my favorite line:
"You cannot solve a debt crisis with more debt any more than you can fix a drunk with a case of whiskey."
When the European nations collapse and then finally get their feet under them again, do you think there will be repercussions for America since we let the Federal Reserve gain so much power over the whole world?
2 comments:
When Europe crashed, we won't be far behind them.
Oh, but you can "fix" a drunk with a case of whiskey! He/she dies - problem solved.
More debt, a'la the half tril just added to keep up with spending for the next couple months (maybe), will eventually kill the US / global economy and force a major conflict event that will make WWI and II look like playground tussles. What the specific" trigger may be remains to be seen - there are a LOT of possibilities, but I fully expect the watershed event to put the pieces into obvious play before 2014; perhaps as early as this winter.
"And I looked, and behold a pale horse: and his name that sat on him was Death, and Hell followed with him." ...
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