For South Korean and American intelligence services to have failed to pick up any clues to this momentous development — panicked phone calls between government officials, say, or soldiers massing around Mr. Kim’s train — attests to the secretive nature of North Korea, a country not only at odds with most of the world but also sealed off from it in a way that defies spies or satellites.
The people who failed to predict, know, or report this are incompetent. Much in the same fashion as they were with regard to 9/11, OK City (see PATCON), WTC #1, and various other atrocities.
These people are not to be trusted or taken at face value. There is always an ulterior motive and interwoven plot. It’s not tinfoil. It’s reality.
Denninger seems to write the same blog post about every three days. I commend him on this. It’s hard to write about the same topic over and over and remain relevant and interesting. Yet, despite that difficulty, he pulls it off.
When debt grows faster than output on a compound basis the two curves inevitably run away from one another and must always result in a collapse.
This is not a political issue, it is not a left or right issue, it is a function of simple mathematics. Those who were IPOing these businesses in the 1990s and who were building and selling houses into the ramp in the 2000s were simply believing that they would unload the bag on you before the leverage pyramid in that particular part of the economy fell over.
That’s all the last thirty years was folks, and now we’re desperately scrambling on a global basis to find just one more sucker. To obtain just one more hit off the crack pipe. To stave off death just one more day and draw one more breath.
The days of the indebted nation state as the central power are coming to a close. Simple as that. How do you adjust, adapt, and overcome to not only survive, but thrive in the new societal construct?