Karl Denninger rants often, but usually accurately. Here is his take on this economy: Green Sharts! Chicago Fed Index -0.63 by nospam@example.com (Karl Denninger) Oops…. Led by deterioration in production- and employment-related indicators, the Chicago Fed National Activity Index declined to –0.63 in June, down from +0.31 in May. Three of [...]

The end is rapidly approaching. Here is Karl Denninger explaining why: Merkel Tells Obama To Stuff It This ought to get interesting…. Referring to the G20 summit in Canada next weekend, Merkel said in a videotaped message that “we are going to discuss when to quit the phase of short-term measures and go on [...]

The mathematics of getting out of the hole we are in are impossible as pointed out many times in posts here. Now, Karl Denninger bluntly deals with the numbers. The issue of Social Security dominates the first part of his post. However, that is a relatively small part of the [...]

Karl Denninger explodes on Paul Krugman and other establishment economists in Proof: Economists Claim 2 + 2 = 8134. Denninger attacks their vulnerability in a different fashion than I have, but reaches similar conclusions: the economic emperors have no clothes. John Maynard Keynes has to be rolling in this grave….. [...]

Last week I wrote about the US economy ending up in a Depression. Karl Denninger has a hard-hitting piece about our economic future that reaches a similar conclusion. He believes that our economy could contract as much as 40%. While that might be difficult to accept, his points are well taken. [...]

Our government and their esteemed economists tell us that we are coming out of the recession. Using their statistics, they claim we are on our way to economic recovery. According to them, there is no possibility of a double-dip or another Great Depression. Yet these are the same people that [...]

Is this the reason why the Fed requires secrecy? So now we know that Greenspan and Bernanke are not idiots. The Fed knew about the housing bubble as early as March 2004 and deliberately hid it from citizens. Never mind all the BS that came from Greenspan and Bernanke. The organization [...]

I don’t have the data, but perhaps some readers might. I have often speculated that the cost of a state-university degree is higher than a private university. In my state, NC, it would be interesting to compare the cost per graduate of UNC-Chapel Hill to the cost per graduate of [...]

Kicking the Can Down the Road If you believe that the housing market is improving, it might be understandable given the “pumping” provided by main-stream media, CNBC, government officials and Federal Reserve statements. However, you might want to look at government actions rather than propaganda. On Christmas eve, after the [...]

“… all Ponzi schemes eventually fail under their own weight. The US debt scheme is no different.” Sprott Asset Management Belief in the economic recovery story is akin to belief in Santa Claus. Both make us feel better, but both are unlikely. We may have another quarter or two of [...]

Image via Wikipedia Image via Wikipedia Fannie Mae reports third quarter loss of $18.9 billion and requests another $15 billion in taxpayer funds. Another government enterprise comes back to the well for more, with no end in sight. Bloomberg has a summary of the results here. FNM was the organization [...]

Image via Wikipedia Good job numbers today — NOT! Once again we have the headlines and reality diverging. Karl Denninger provides an analysis of why the job situation is worsening rather than the “improvements” that are being heralded. Watch The Distortions (UIC Data) The Market Ticker Thursday, November 5. 2009 [...]

Image via Wikipedia Image by Getty Images via Daylife It is probably hard for the trusting public to believe what is being done to them by their government. Most of us were raised to think that government was “of the people, by the people and for the people.” It was [...]

More commentary on the Cash for Clunkers. In Karl Denninger’s view, “Clunkers” seems to refer to the customers not the cars. Obviously his “evidence” is anecdotal and therefore not worth much. However, why the White House would ever have entered this fray is baffling and politically inept. White House LIES: [...]

Image via Wikipedia Image by 4PIZON via Flickr It is not complicated to understand how laws are being violated by the FDIC. Karl Denninger in his post details that and why there should be no losses from bank closings (unless there is bank fraud involved). Simply stated, it is the [...]

Image by kevindooley via Flickr “Taking the State wherever found, striking into its history at any point, one sees no way to differentiate the activities of its founders, administrators and beneficiaries from those of a professional-criminal class.” Albert J. Nock, 1935 ———————————————————————- Our press, the glorious fourth estate, the “guardian [...]

Image via Wikipedia Whether you approve of his style or not, Karl Denninger cuts through the BS and says it like it is. The corruption and self-dealing in these bailouts is disgraceful. One must wonder whether there is any integrity left in government or our financial system. You and I [...]

Here is a post from Karl Denninger. It is about Citibank and is outrageous. Apparently it is going on with other credit card issuers as well. This is the sort of thing that, in my opinion, makes meaningful economic recovery impossible.  (Click for a larger copy) Here’s what it says: [...]

Economic conditions will be sub-par perhaps for a decade or more as a result of the great credit unwind. For the past 20 plus years consumers spent most or more than their income by taking on extraordinary levels of debt. As Karl Denninger writes today: We have blown several trillion dollars [...]

There cannot be a recovery without the consumer. The consumer cannot increase his spending from recent years without increasing his credit load. But he is overleveraged and is in the process of correcting that, despite what the government might want him to do. Consumers seem to be more intelligent, at [...]