About That Whole Global Economic Collapse Thingy - Part VI

Hat tip to Western Rifle Shooters for a link to this article on Denninger's Market Ticker.  A tremendously sane and rational article:

2008 was a tiny crack in the dam.  A spurt of water.  The economic dislocation you saw was one small part of the $53 trillion on balance sheet debt bubble quivering.

A mere 2% of that debt bubble actually going bad caused all the awful things you saw happen from the beginning of 2007 to the spring of 2009.

The other 98% is still there, and of it half, if not more, stinks like dead fish.

You think this is over?  That things are "stable"? 

and a little farther down

... as a father with a school-age daughter that I do not want to grow up in a decaying society, or worse, one that has gone Mad Max, I had to try.

Today, I'm a bit more-focused and limited in my goals.

We're not going to fix this folks - it's going to blow up.

A bit long, but worth the read.

Remember, our real debt is way beyond that $53T that Karl talks about in that clip.  The Debt Clock says that total liabilities are $110 T.  That's more than the total economic activity (GDP) of the world.  You've heard the saying "all the money in the world"?  Not enough to get us out of trouble.