Denninger: Let’s Cut the Crap We Are in a Depression Right Now

Mac Slavo
SHTF Plan
February 27, 2010

Karl Denninger of the Market Ticker asks How Long Before You Wake Up, Politicos? http://market-ticker.org/archives/1993- ... ticos.html

So let’s cut the crap – we are in a Depression right now. We are pretending we are not, just like you can pretend you didn’t really lose your job so long as your credit card does not reach its limit. We have been in that depression for about 18 months and there is no evidence that we will exit it, as we have yet to find a way to pull back the deficit spending without an instantaneous collapse in the economy.

Yet at some point we must and will stop. We will either do so of our own volition, or we will do so when the cost of borrowing skyrockets, as others get tired of funding our profligacy. If we attempt to “printâ€