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Business news without the bullshit
The ultimate failure
of financial manipulation
The Swiss Franc and other wishful thinking
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Wide ranging and right on the money
Two of the wise wild men of financial reporting and analysis, Karl Denninger and Max Keiser.
Since about 1983, the economy has grown not through productivity and savings, but through borrowed money.
How long can this keep going?
Debt has reached the point where it's fully two times what is historically known to be sustainable.
Can the government print enough money to paper it over?
Here's the important one word answer: NO!
Even if they ran the printing presses all day and night.
Were they to even try, we'd be looking at a dollar that is so weak, gasoline would be priced somewhere between $16 and $20 a gallon.
The answer: Default. Certainly badly managed banks need to close their doors. Some companies and individuals that are hopelessly overextended need to be reorganized.
Painful but unavoidable and delays - which have been going on since the 1980s - are only making the final problem much worse.
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