The latest Woodpile Report is up

Posted on March 19, 2013 by KG

and if you’re not concerned after reading it, you’re a hopeless optimist:
‘These are the good times, the summer of ’29, the last cotillion before the butcher’s bill arrives. With a debt-to-GDP ratio of 350% and zero return, look for the US bond market to be the first debacle, if the EU doesn’t self-destruct first. The real faceplant comes when the bulk of savers and investors understand their paper for the sinkhole it is. The rush for the exits will be unstoppable, finance will implode—days at most and perhaps in hours, and take the whole interdependent tangle with it, meaning bank accounts, retirement benefits, insurance, entitlements, credit scores, Paypal, Bitcoin, money market funds, corporate bonds, stock market shares—eviscerated like an October hog, their real value revealed at last….’              Woodpile Report

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4 Responses to The latest Woodpile Report is up

  1. thor42 says:
    March 19, 2013 at 17:16

    A very sobering assessment of things.

    One thing I’ve been mulling over lately is the fact that capitalism is a *tool*, and like any tool, it can be horribly misused (as we’ve seen in the US and Europe in recent years). This does *not* mean that capitalism is flawed. It means that some of those using it are *fools*.

    Conservative, frugal, right-wing economic policy is the **ONLY** sensible way to run a country.

    • KG says:
      March 19, 2013 at 19:13

      I’d like to see non-crony capitalism given a try, Thor. Because what we have now is anything but.

  2. mawm says:
    March 19, 2013 at 17:42

    Well, that was a cheerful read.http://falfn.com/CrusaderRabbit/wp-content/plugins/wp-monalisa/icons/wpml_scratch.gif