[Jack Black]

Scary stuff.

[2banana]

Karl Denninger - Monday, November 3. 2008

Now you are free to vote for John McCain if you wish, of course.

I cannot.

I cannot vote for a man who is well-aware, as are his top advisers, that this entire mess was intentionally concocted through greed and fraud, that fact has been admitted, and yet the candidate has promised to do exactly nothing about it.

...

For the first time in my adult life, tomorrow I will cast a vote for a Democrat - Barack Obama - and I strongly urge others to do so as well.

---

So how is that working out?????????

[trailboss800]

ping

[razorback-bert]

My comment from another thread:

Last year, the Bank for International Settlements, a consortium of the world's central banks based in Basel (the Fed chair, Ben Bernanke, sits on its board), reported the gross value of these commitments at $596 trillion.

There isn't enough money in the world to unwind those positions.

[DuncanWaring]

Seen this one?

http://market-ticker.org/archives/852-Whats-Dead-Short-Answer-All-Of-It.html

[BuckeyeTexan]

Mark for later.

[weef]

I have been singing this song - raise cash now - for quite some time. Let me be succinct - it has been my considered belief that you need enough in liquid cash - not credit access in the form of credit card available balances or anything similar - for at least six to twelve months. I'm upping that here and now to twelve to twenty-four months - that's right - one to two full years of "minimum necessary to make it" expenses. Figure out right here and now what your minimum "monthly nut" is, and raise 12-24 months of that much in safe, liquid funds.

Safe, liquid funds as in $ under the mattress or are we talking savings/money market accounts? The goats and chickens talk leads me to believe this is a mattress situation.

[zeestephen]

Where does Denninger get his inflation data?

He writes:

“The economy is deflating. We can see the deflation in the CPI and PPI numbers, not to mention home prices.”

Say what?

Core PPI is up 0.6% in the last two months.

Core CPI is up 0.4% in the last two months.

Oil prices are up 20% in the last three weeks.

And, home prices are deflating?

No surprise there.

We built 4 million homes for “buyers” who couldn't afford to pay for them.

That's called an inventory glut.

The only way to work off an inventory glut is to cut prices.

[Chgogal]

Any thoughts? (ONLY if you have time, of course). Thanks.