Monday, October 25, 2010

Denninger on the economic nature of the problem

Only thing worse than a gloom-and-doom economist is one who is probably right.

Karl Denninger seems to keep popping up on my radar, and he does have a way with the words, sometimes:
Funny how everyone forgets that the nuclear device that started all this crap is still sitting on the board room table, it's still ticking, and someone still has tape over the timer window so nobody can see how many more "ticks" we've got.
Now that's an image. That was from this recent piece. From another, there is this potentially powerful outreach to the public:

That latter article also is worth reading, despite Denninger getting a little form-letter-happy with all the emphasis and markup. One of the, ahem, "money moments":
Since the "corporatists" took over the Tea Party, starting with their bull**** invasion funded by the Kochs and the Palin clan, there has not been one word from ANY of them about bank fraud, wire fraud, corporate executives, Federal Reserve Chairmen and Treasury Secretaries STEALING the wealth of Americans.
I count myself among those who figured all along this would be the inevitable result of the "Tea Party", so this is hardly news. However, what it is, is an excellent summation of the problem in a single sentence. Why could I never support the Tea Party? Because it is inherently a political vehicle, which uses the political means to achieve its ends--and therefore because the above result was as inevitable as sunrise.

As more and more people are beginning to realize, we're not votin' our way out of this mess.

Hat tip to Pete at WRSA, among those who first clued me in to Denninger, and whose refrain is among the most resonant out there: "Do you understand yet?"

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