I feel it appropriate to help distribute Karl Denninger’s video response to the currently in vogue effort of the government-subsidized media to discredit those AMERICANS who question current government policy and who suspect that the economy will get worse before it gets better.
You must watch it. Karl Denniger rips Dennis Kneale, CNBC (and their corporate parent GE) a new one with a furious but factual explanation of why our current financial system is based on lies, fraudulent accounting, and that our major banks by most any yardstick are bankrupt. Yet the cover-up goes on. He closes by saying we will never hear the truth from CNBC because GE is itself awash in garbage financial instruments that they refuse to mark to reality.
Amazing stuff. Don’t miss it. That the left should be doing stuff like this is a given, but it continues its snooze, lost somewhere in the last century, unable to find the current one.