I say that not because I have sufficient financial knowledge to evaluate his writings from a technical point of view but because he puts in huge effort, I mean hundreds of hours a month, to support his perspective.
An article published on the 10th demonstrates both Denninger’s commitment to his audience and some very specific dangers potentially coming out of Europe. Called “A Round-Up Of Current Idiocy” it includes this conclusion:
Since we keep drinking more as an economy (debt and deficits) the violence and incidence of these “undesirable outcomes” is going to continue to increase. We had one nasty in 2000, and then again in 2007. From the so-called “recovery” (2003) to the onset of the last mess was about four years. We’re now about two years in from the so-called “bottom” of this latest train wreck (Lehman), and if we keep on-path, and we are as the below chart shows, our fuse should go inside the box for this next mess somewhere between now and the end of 2011.
I hope you’re ready, because this next one, coming with no real recovery having taken place in employment or private economic activity, may be the one that takes us well beyond the misery we suffered in the 1930s.
And if it does, it will be our – that’s right – our – fault, since we simply will not accept that there is no such thing as a free lunch.
Note the copyright please.
Despite it being quite a technical piece with some aspects that weren’t clear to me, no surprise!, it’s still got many important messages for all those concerned about our savings and assets. Do read it.
Learning from Dogs 