peaceandlove
09-10-2009, 12:19 AM
The Government's Effort Has Failed
Wednesday, September 9. 2009
Posted by Karl Denninger
The Federal Reserve's latest (through July) G19 update is out, showing consumer credit.
To say that these figures are ugly would be an understatement. In fact, there is simply no way you can spin this - while this contraction in credit has to happen it has horrifying implications if our Washington policymakers don't get on the stick and deal with the underlying issues here and now instead of pretending that everything is ok or worse, try to "borrow our way to prosperity."
Let's start with the "Full Monte"; this is the "de-noised" version of The Fed's "annualized" rate of change chart (click for a larger version of any of these):
Continues: http://market-ticker.denninger.net/archives/1418-The-Governments-Effort-Has-Failed.html
ALSO great commentary on BLOG TALK RADIO mostly regarding Florida, some California info too.
Title: TickerGuy TBA, most recent blog talk.
See right hand side of page: http://market-ticker.denninger.net/archives/2009/09/09.html
DEBTOR'S REVOLT VIDEO also available:
http://market-ticker.denninger.net/archives/1419-And-So-It-Begins-Debtors-Revolt.html
Wednesday, September 9. 2009
Posted by Karl Denninger
The Federal Reserve's latest (through July) G19 update is out, showing consumer credit.
To say that these figures are ugly would be an understatement. In fact, there is simply no way you can spin this - while this contraction in credit has to happen it has horrifying implications if our Washington policymakers don't get on the stick and deal with the underlying issues here and now instead of pretending that everything is ok or worse, try to "borrow our way to prosperity."
Let's start with the "Full Monte"; this is the "de-noised" version of The Fed's "annualized" rate of change chart (click for a larger version of any of these):
Continues: http://market-ticker.denninger.net/archives/1418-The-Governments-Effort-Has-Failed.html
ALSO great commentary on BLOG TALK RADIO mostly regarding Florida, some California info too.
Title: TickerGuy TBA, most recent blog talk.
See right hand side of page: http://market-ticker.denninger.net/archives/2009/09/09.html
DEBTOR'S REVOLT VIDEO also available:
http://market-ticker.denninger.net/archives/1419-And-So-It-Begins-Debtors-Revolt.html