National Bankruptcy

Denninger sends once more.

This time, with feeling.

Too much leverage is the problem and bankruptcy is the only solution as it clears both sides of the balance sheet.  Pretending everything is ok does nothing except make the problem worse.

Good times ahead folks.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s