In the post election hype, Denninger keeps it real. The post-neo-liberal bubble that popped in 2007 is continuing to implode.
Max Keiser
Financial War Reports
In the post election hype, Denninger keeps it real. The post-neo-liberal bubble that popped in 2007 is continuing to implode.
Pretty convincing. I think even Obama could understand this. How can we get it to him?
Typical conservative, anything to impoverish the middle class and enrich the rich.
Pure Bull Shit.
The Pro Austerity propaganda that is working out so well in the EZ.
Good luck with that
Heard it all before mate
a million charts of doom
It’s going to be long looong and ever soooo booooring. No cathartic collapse, no ecstatic climax into freefall, just grind.
We’ll grind it out.
listen watch the bond bubble burst, in the next year………..2008 was just a warm up… dollar is the world currency so euro will collapse first. short term i have dollar going up to 89 level, than 1 to 1 par is game euro dollar…… all fiat paper will go to zero, 60 years ago sterling pound was the world currency, all central banksters are printing paper money to buy bonds… when the central banksters print money and buy gold the end game bond bubble will burst, its the private credit debt 53 trillion, deflation deflation.
Everyone who talks about bubbles bursting forget that bubbles are fairy-light bits of nothing whose worst consequence might be a faint stain on your sunglasses.
Denninger will empress me the first time he suggests slashing “defense” spending by 75%. I suspect that I’m in for quite a long wait.
Another Denninger masterpiece full of… nothing!
Not that US defence spending isn’t out of control, but Mr. D fails (as usual) to deal with the financial impact of cutting military spending by 50% (how long would the Mr D receession last)… and what do you do with all those unemployed soldiers.
And, a 75% cut in Health Care? That’s about as realistic as Karl caring about any of the poor souls (Hint… the wealthy would be just fine) who would suffer (and die) under his plan. Although, he could have suggested the Canadian single pay plan that covers everyone with world class care at half the cost… but according to Karl that would be evil socialism and down right anti-Amerikan!
Mr. D, and those of his ilk, are what’s wrong with America.
It was a good read. Breakup the monopolies is a must.
Max, there is a “Chase” advertisement right in the middle of your web page. It follows me around your page. It’s really creepy! I wish it would go away but there is no delete button.
Denninger does in fact call for a significant reduction in defense spending.
What is a US dollar? It’s a “fun” certificate that can be printed any time they’re needed. If people get mad – make fun certificates.
Why would anyone dislike a fun certificate? Anyone can have fun with it. And if you tell me that my fun certificate is worthless, then all your fun certificates are worthless as well. Why would you do that to yourself?
See? This will never burst.
Ahhh… but what if they print so many that…..blah blah blah.
Fine. What’s the number? Quantify it. If you can’t, then your theory has no value.
The fiscal cliff is nothing more thank neo liberal propaganda pushed by fascists who want to gut the poor. If you want to really solve the problem then you nationalize the fed an you discharge the usury. You then ban usury and start a recovery program with NAWAPA (look it up) and then you repair all old infrastructure. Both these things together will bring a recover and since you will not have the usury siphon that steals the money from th economy the debt is payable. You also need to end the wars on everything too.
@Coldtype – agree. KD either has some blind spots, or guards some of his not so attractive secrets. I think he could be a genius at times, but there’s some heavy inner turbulence going on too.
My first encounter with Denninger was from a link from this site.
He IS capable of 2 and 3 paragraphs stretches of lucidity but then the lone-cowboy, looney-libertarian ideology becomes painfully apparent.
In the current article the implication is that Medicare, itself, is responsible for the alleged run away health care costs quoted for 2043. Why not blame the private health insurance companies instead, or, at least in addition? (Did I miss the chart that shows projected revenues collected to offset this cost?) There is NO mention, either, about the purposeful Bush II ploy to destroy Medicare by stripping it of the power to negotiate drug costs, thereby drastically increasing Medicare costs which KD then obediently (if ironically) advertises for the “big government” he alleges to despise.
(He once invoked his own alleged, genetic resistance to disease as a reason why HE didn’t need to be concerned with health care insurance. To PROVE it would cost quite a bit for expensive, available, DNA testing. But, of course, such diagnostic probes into one’s genetics cover perhaps 0.1-0.5% of KNOWN disease conditions.)
On this post, his commenter/worshippers chime in with equivalent “logic” to suggest that food stamps, themselves, are the cause of the vapidity, if not frank hazard, of the American industrial food system.
For a touch of reality, here’s the link to the current Medicare Trustees Report:
http://tinyurl.com/clowjkq
The worst case scenario shows a doubling of Medicare costs by 2045, NOT the 15-fold increase claimed by KD.
Basta for KD.
@John Puma
Well said.
“In the current article the implication is that Medicare, itself, is responsible for the alleged run away health care costs quoted for 2043. Why not blame the private health insurance companies instead, or, at least in addition? (Did I miss the chart that shows projected revenues collected to offset this cost?) There is NO mention, either, about the purposeful Bush II ploy to destroy Medicare by stripping it of the power to negotiate drug costs, thereby drastically increasing Medicare costs which KD then obediently (if ironically) advertises for the “big government” he alleges to despise.”
That is why I think some neoliberal snakes hide in the long libertarian grass. If I were a neoliberal it would make sense to latch onto right-wing libertarianism and hijack the movement for the corporations. I mean the neoliberals did it with free market capitalism – twisted it to support their corporate agenda.
Guess what? It is not a theory and is already happening…
http://exiledonline.com/wikileaks-expose-kochs-neocons-and-covert-regime-change-ops/
Pigs Deutschen lieber in Unwissenheit bleiben
http://translate.google.pt/translate?sl=pt&tl=de&js=n&prev=_t&hl=pt-PT&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fjoshuaquim7.blogspot.pt%2F2012%2F11%2Falemaes-preferem-ficar-na-ignorancia.html
You can’t fix medical entitlement spending. You instead have to fix the medical system, and the only way to do that is to pull all of the monopoly-style protections so that the cost of care in terms of dollars spent crumbles by 75% or more. This will result in a lot of short-term unemployment and contraction in GDP, but if it’s not done our government and society will blow up. This is a mathematical certainty.
You can’t keep escalating defense spending either. But to fix that you must solve our energy dependence problem, because a huge part of why we spend over $750 billion a year is found there. Oh, it might help if we didn’t hand man-portable anti-aircraft missiles to our “friends” that happen to be affiliated with Al-Qaida too, as we reportedly did in Libya.
——–
Isn’t Al-Qaida a CIA operation?
Lots know the solution but the ‘getting tough’ solutions never work. Until the final crunch. And we will see that final crunch. Some have already seen it (they’re dead).
Hugh,
Why are fun certificates printed in such drab colours? This is why I don’t believe in them being Fun Certificates.
Karl Denninger, like the rest of his Tea Party friends (yes, he was part of the racist tea party movement in the US) bases 90% of his arguments on innuendo and financial information that sounds like it was pieced together from sugar packets from the Denny’s restaurant chain and from Glenn Beck’s histrionic radio show.
@Bruce TY i was a bout to point out that the wantobe critics on this thread did not bother to read the artcial in question befor spouting there ignorence
@John Puma & @flopot….. “You can’t fix medical entitlement spending. You instead have to fix the medical system.”KD. …. improve your reading comprehension please or be bothered to read it at all befor comenting would help in that sentene KD gives entitlements a pass and states that they are NOT the problem it is insted the monopolys that the industry has been given that MUST be reformed. he is there for NOT saying Cuting entitlements will fix this THAT is for another debate on “moral hazard” , this is about a monoply that has goten out of hand and is Consuming the entire GDP of the Country (or trying to at least)
@Coldtype THIS piece is about health care spending BUT he is well aware of the isue
“You can’t keep escalating defense spending either. But to fix that you must solve our energy dependence problem, because a huge part of why we spend over $750 billion a year is found there. Oh, it might help if we didn’t hand man-portable anti-aircraft missiles to our “friends” that happen to be affiliated with Al-Qaida too, as we reportedly did in Libya.” to me this is even more to the point than the isues with diret spending as it adresses the REASONS behind the policy not just the direct spending.
@Dibert TAKE YOUR OBSESSION WITH THAT NONISUE AND SHOVE IT UP YOUR ASS it is OFF TOPIC and im SICK of you PC IDIOTS turning REAL debate in to meaningless bullshit with YOUR intolerenet atitudes, so STFU grown ups are talking REAL isues in here.
KD is arguing for the government to remove the healthcare monoplies in place.