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View Full Version : The Challenge Before America - Denninger




MsDoodahs
03-02-2009, 02:12 PM
http://market-ticker.denninger.net/archives/841-The-Challenge-Before-America.html

snippet:

"This is not conjecture.

It is not a prediction, nor drawn from how I "feel".

This is mathematics; it is a fact that we cannot possibly maintain anything close to our current standard of living unless private capital decides to re-enter our marketplace - a decision that government cannot force.

The consequences of an economic Depression of this magnitude are almost too serious to contemplate. They include unemployment topping 20%, an average annual income decrease for Americans of some 30% (for those who remain employed!), a 70-80% decrease in retirement accounts such as IRAs and 401ks and the decimation of both private and public pensions, resulting in a reduction in benefits of 50% or more."

Bruehound
03-02-2009, 03:20 PM
good find. scary

raiha
03-02-2009, 10:19 PM
Karl is going to have a heart attack...apoplexia... if he doesn't get himself a pitch-fork soon.

slacker921
03-02-2009, 10:40 PM
Karl is going to have a heart attack...apoplexia... if he doesn't get himself a pitch-fork soon.

I feel for him... he probably has the situation nailed and he's jumping up and down flapping his arms wildly trying to warn people but he gets maybe .00001% of the audience that the talking heads on CNBC get. It's sad.

Unfortunately if he went on CNBC or if Glenn Beck had him on his show most viewers would think he's some kind of nut because what he's saying is so far from the status quo... it's just too scary even though he may well be right.

hugolp
03-03-2009, 12:03 AM
I feel for him... he probably has the situation nailed and he's jumping up and down flapping his arms wildly trying to warn people but he gets maybe .00001% of the audience that the talking heads on CNBC get. It's sad.

Unfortunately if he went on CNBC or if Glenn Beck had him on his show most viewers would think he's some kind of nut because what he's saying is so far from the status quo... it's just too scary even though he may well be right.

Nah, Denninger loves it. Sometimes I think thats why he ultimately allways defends goverment intervention, because when they fuck up (and goverment allways does) he can rant about it.

Hugo

Danke
03-03-2009, 12:30 AM
"But see, we don't expect people to tell the truth in DC any more. The responses to my last Ticker and Ron Paul's idiocy with regards to him not wanting faxes is a prime example, but BOHICA with Clinton, because truly, here it comes again.

We get the political environment we deserve. And we deserve it because when we decide we like some candidate we throw our ability to think critically out the window.

Ron Paul, for example, is so horribly against Congressional spending that he votes against many spending bills. But then he sticks earmarks on them, and justifies this as "well, I'm working for my constituents."

This sort of crap is the height of hypocrisy. He places a "no" vote that he knows will not have any effect on the outcome, but then he uses a non-voting, non-transparent mechanism to grab as much federal money as he can for his district.

Ron Paul's office claimed that his desire "not to get faxes" was about cost control. That's a flat-out bald-faced lie. A $50 PC - literally, even an old 1995 80486 - can run FreeBSD (free, as the name implies) with a $20 fax modem connected to it. When I ran MCSNet a 90Mhz Pentium had eight old Telebit T3000 fax modems attached to it and handled all our fax communications for an entire office, with eight lines! Such a system can receive faxes and email them internally (or externally) to whoever you'd wish. The cost of the software to do this? Zero. The cost of the hardware? An old PC - of any vintage, including something you were about to throw out at home with any sort of ethernet card, and any old external modem that can fax (which is basically all of them.) These days you can literally fish computers like this out of the trash - I probably have a couple of Pentium Pro 200 motherboards laying around somewhere that are gross overkill for this sort of thing. The recurring cost of supplies for such a machine? Zero; it emails the results and generates no paper. The administrative time and cost? Zero - these are production systems and require no attention; they store nothing and just sit in the corner quietly doing their job. The same machine can accept (using a Windows plug-in) faxes from your Windows desktop (it looks like a Postscript printer) and send them out too. If Mr. Paul's office (or anyone reading this) would like to verify any of this, check out http://www.freebsd.org and http://www.hylafax.org. There you are - all free. If Ron Paul's staff is too incompetent to handle this, they need to be fired and replaced. If his staff does know this and are lying, they are dishonest and need to be fired and replaced.

I despise hypocrites and the reason Mr. Paul has garnered my ire is that he's one of the worst on The Hill in that regard."

http://market-ticker.denninger.net/archives/2008/06/05.html

raiha
03-03-2009, 01:19 AM
Well Karl has anger management problems. I'd hate to be his wife. And he's seriously opinionated.