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has posted a comment on the article :
Nothing Can Stop It: “An Economic Collapse that is Going to be Worse than 1929? *Video*
- Mac Slavo -
ShtfPlan
It is a very good interview and Denninger makes some excellent points. That being said, there was one shortcoming in his reasoning that came close to the end of the interview wherein he stated that the Fed has been increasing the credit/money supply by 6 1/2% annually, yet GDP has only been increasing by 2%, meaning that the economy is in fact declining by 4 1/2%. While there is nothing wrong with his math, there is a problem with the underlying assumption that all of the newly created credit/money is remaining within the borders of America. Clearly, that is not the case. The greenback has been going up in value because foreigners have been purchasing it, seeing it as a safe haven. To have a clearer picture of how the economy is actually faring, that unknown number must be plugged into the equation. Though i cannot prove it, my assumption would be that roughly half of all the new credit/money creation winds up in the hands of foreigners, meaning the economy is contracting by some 1.25% annually. That number would seem to be a far better fit for the reality on the ground.
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Before anybody in America ever cared about AIG, credit markets or bailouts, Karl Denninger had warned that the fuse was burning and had “gone inside the box.” This was in September of 2008, about a month before the bottom fell out of global markets and the giant kaboom was heard ’round the world. He had repeatedly sounded the alarm. A “credit event” was coming, and it couldn’t be stopped. No one listened. The aftermath of the credit detonation that followed will go down in history as one of the...
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chers Vladi,il est lor, oui, effectivement, et alors ? un fonctionnaire crée de la richesse ? creuser des trous crée de la richesse ? si nous arrêtions, pour voir, de payer nos impôts, vos 55, fonctionnaires compris, font quoi fin du mois ? merci d'expl
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