[SE Mom]

Is Denninger usually reasonable and rational? I’ve heard mixed reviews about him- so I’m trying to keep perspective on his prognosis.

[semantic]

I personally believe Denninger has an IQ over 150. He's got guys posting on his board who are experienced Wall St traders. There's not one of them doesn't express complete and utter awe with his insight and sheer genius.

Every now and then Denninger lets slip some of the IP addresses which access his web site - including the White House and some 3-letter agencies.

[Petronski]

Denninger’s point of view is worth reading these days, as long as one remembers to tune their ear to his often hyperbolic mood.

[semantic]

More:

The snake will do anything to avoid eating its own head, including eating you. Forget it. If DC doesn't change direction NOW it simply isn't going to matter - within days. We are that close to going over the falls; once the pension funds and annuity companies start eating their seed corn (they may have already begun to do this, but are forced into it as the market continues to decline) the game is over; the outcome can no longer be changed.

It is like a nuclear explosion - once supercritical mass is achieved the picoseconds necessary for enough atoms to split for the energy release to be "noticed" is a finite amount of time, but there is nothing you can do to change the outcome. We are very, very close to that supercritical event. A major equity market crash, which now looks nearly certain, goes far enough over the edge that nothing the government can do will matter.

Any insurance company that sells annuities (that would be all of them) is absolutely f#cked, without exception.

[wbill]

I dunno about this guy Denninger.

Some of the stuff he says sounds plausible. I'm no economist, but I did stay at a Holiday Inn last night.

Pensions are in trouble. FDIC is in trouble. Are they going belly up totally? I doubt it. Tax receipts will be down, but that's stating the obvious: less GDP this year + higher tax rates = less tax revenues for the gov't.

I've heard rumblings about tax deferred assets (401k's, etc) being seized. I don't believe that'll happen for the simple reason that the lynch mobs will show up in Washington. What might happen is that if the pols can figure out a way to get you to *voluntarily* give it up...that's a possibility. Or, they may do away with the programs. But just walking up and taking what's in your account? Ain't gonna happen.

The last three points, I just don't see occurring. They're contigent on all the other gloom and doom happening first.

Certainly, things are not good. But these aren't financial endtimes, either. Not yet, anyway. But Obama+Pelosi+Reid and their merry band of thieves aren't done yet, either.