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Trying to outrun the global Ponzi scheme

Karl Denninger:

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Summary of show


1. China was going to be the engine that was going to save us all. Now it's seizing up.

2. It all comes down to one this: "Our economy has become a giant Ponzi scheme." When debt accumulation stops, the whole Ponzi scheme will collapse.

3. The US Federal government is the only entity taking on debt today and it's being done to cover the collapsing Ponzi scheme.
It's not to help the economy, to help you or create jobs.

4. The day it stops all the banks in the US go under, except JP Morgan.

5. We have solved exactly nothing. What we should have done back in 2007 and 2008 was break up the big banks.

6. "Mutualizatio of past debts" is fraud, theft, and robbery.