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Where we're headed and what to do about it

Recorded in 2011

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I always say you don't have to be a fortune teller to predict the future. You just have to be able to read and interpret financial statements - without a crack pipe in your mouth.

Karl Denninger can read financial statements and he does it better than most.

Where is the US and world economy headed?

The specific details will have to play themselves out, but the direction is undeniable. Bottom line: The party is over and the post-party consequences are only just being felt. (A tree limb can still sprout leaves even after it's been hacked off - but only once.)

Unfortunately the people who steer the ship of state don't get it. As if that weren't bad enough, whole industries - like Wall Street - have essentially taken the government captive and are running the show for their benefit and to the detriment of everyone else.

So what's the solution?

Denninger makes excellent points about what we can expect and why and how to personally get out of harm's way - and make no mistake about it, getting out of harm's way will be Job #1 in the coming years.

Not great news, but it's better to know what's going on and prepare than to live in the past.