[careinke]

It seems City is now closing some master cards (Shell Gas Cards), without any warning.

http://www.msnbc.msn.com/id/33388210/ns/business-consumer_news/

I have one of those gas cards. It gives me a 5% rebate on my gas purchases. I wonder if it will work next time I go to use it.

[Niagara]

What a joke. Americans are too fat and lazy to bother.

"Where's the remote?"

[eastbay]

What a joke. Americans are too fat and lazy to bother.

"Where's the mouse?"

Fixed it for you.

[mattduke]

Denninger doesn't know what money is. He wants you to work for Federal Reserve Notes. The most revolutionary thing you can do is to buy physical gold bullion.

[cipi604]

Denninger doesn't know what money is. He wants you to work for Federal Reserve Notes. The most revolutionary thing you can do is to buy physical gold bullion.

+1

[Forney2008]

This could catch on. http://market-ticker.org/

I also find it funny that his site there has the "ticker" at the top that seems to be a screen shot or image of the stock market ticker and Apple (AAPL) is at 20.53. Apple stock was at 20.53 back in late 2004 and just broke through 200 today . For someone who preaches market crashes like I think he does, he should find a few dog stocks to put up there. I am painfully aware of AAPL since my co-worker jabs me every chance he gets because I advised him to sell his AAPL stock when I thought it was overhyped at 100.

Awhile back in one of his tickers he posted, he stated that those numbers of those stocks shown at the top page of each new ticker posted such as Apple and the S@P 500 were his best estimate for the final bottom in the overall stock market once things finally correct to their true value. And yes, even good old Apple will have greatly reduced earnings as unemployment rises even faster and more and more people would spend what little money they have on food/shelter, rather than tech-gadgets.

[dinopello]

This could catch on. http://market-ticker.org/

I also find it funny that his site there has the "ticker" at the top that seems to be a screen shot or image of the stock market ticker and Apple (AAPL) is at 20.53. Apple stock was at 20.53 back in late 2004 and just broke through 200 today . For someone who preaches market crashes like I think he does, he should find a few dog stocks to put up there. I am painfully aware of AAPL since my co-worker jabs me every chance he gets because I advised him to sell his AAPL stock when I thought it was overhyped at 100.

Awhile back in one of his tickers he posted, he stated that those numbers of those stocks shown at the top page of each new ticker posted such as Apple and the S@P 500 were his best estimate for the final bottom in the overall stock market once things finally correct to their true value. And yes, even good old Apple will have greatly reduced earnings as unemployment rises even faster and more and more people would spend what little money they have on food/shelter, rather than tech-gadgets.

Yea, well duh. Stocks go up they go down, the universe collapses to a singularity - the question is when. My friend who has played the AAPL game has cashed in half his stock to buy his house outright. My gold has mearly doubled in value* while his AAPL has increased 10 to 100 fold. Actually, my Palladium holdings have done much better recently but that isn't physical, its an ETF (unreal representation of perceived value - I think). But yes, if he had held his stock like it is some kind of real thing and not something that represents transient perception of value, the gold would eventually be worth more.

And before anyone slams me on my characterization of currency, stocks or physical commodities - yes I don't really know what I'm doing. I Do believe though that if I buy $20,000 of a Palladium ETF in early 2009 and sell it in late 2009 for $60,000 - then that's better than buying a car. Now, what should I do with the $60,000 ?

*value as represented in fiat currency, although real goods are probably similar depending on fluctuations in pricing of commodities in fiat currency notes.

edit: Someday Apple, iphones, ipods and all will be a mythical memory, but for now Apple just had an "insanely great" quarter

Apple sold more Macs and more iPhones than in any previous quarter in the company’s history. Before the holiday quarter. And in midst of the worst economy we’ve seen in 50 years.

[rangerone314]

This could catch on. http://market-ticker.org/

I also find it funny that his site there has the "ticker" at the top that seems to be a screen shot or image of the stock market ticker and Apple (AAPL) is at 20.53. Apple stock was at 20.53 back in late 2004 and just broke through 200 today . For someone who preaches market crashes like I think he does, he should find a few dog stocks to put up there. I am painfully aware of AAPL since my co-worker jabs me every chance he gets because I advised him to sell his AAPL stock when I thought it was overhyped at 100.

Awhile back in one of his tickers he posted, he stated that those numbers of those stocks shown at the top page of each new ticker posted such as Apple and the S@P 500 were his best estimate for the final bottom in the overall stock market once things finally correct to their true value. And yes, even good old Apple will have greatly reduced earnings as unemployment rises even faster and more and more people would spend what little money they have on food/shelter, rather than tech-gadgets.

Yea, well duh. Stocks go up they go down, the universe collapses to a singularity - the question is when. My friend who has played the AAPL game has cashed in half his stock to buy his house outright. My gold has mearly doubled in value* while his AAPL has increased 10 to 100 fold. Actually, my Palladium holdings have done much better recently but that isn't physical, its an ETF (unreal representation of perceived value - I think). But yes, if he had held his stock like it is some kind of real thing and not something that represents transient perception of value, the gold would eventually be worth more.

And before anyone slams me on my characterization of currency, stocks or physical commodities - yes I don't really know what I'm doing. I Do believe though that if I buy $20,000 of a Palladium ETF in early 2009 and sell it in late 2009 for $60,000 - then that's better than buying a car. Now, what should I do with the $60,000 ?

*value as represented in fiat currency, although real goods are probably similar depending on fluctuations in pricing of commodities in fiat currency notes.

edit: Someday Apple, iphones, ipods and all will be a mythical memory, but for now Apple just had an "insanely great" quarter

Apple sold more Macs and more iPhones than in any previous quarter in the company’s history. Before the holiday quarter. And in midst of the worst economy we’ve seen in 50 years.

Put half in gold ETF, and half in short-selling the components of the DOW. That way when the DOW meets Gold at about 3,000, you'll make out on both ends.

[AirlinePilot]

Denninger in his normal excellent form. I agree completely with his analysis:

http://market-ticker.org/archives/2039- ... ttack.html

[TheAntiDoomer]

How many threats of immenent doom fr om Denninger can you stand AP before you stop agreeing with everything he says?

You may have to come to terms that he is a good computer nerd who just might be out of his league in making economic predictions.

[eXpat]

How many threats of immenent doom fr om Denninger can you stand AP before you stop agreeing with everything he says?

You may have to come to terms that he is a good computer nerd who just might be out of his league in making economic predictions.

What hard facts and data can you offer that disproves that article?

[SeaGypsy]

Seems like the deal is keep pumping out the cash, devaluing the currency to the point where the $6million pension is enough to not have to be a worker but not enough to drive a car. 1.2 trillion above revenues per year, leading to a 10% devaluation of the dollar seems about right. 9% of 07 value this year, 8% the following etc.

[AirlinePilot]

AD,

Denninger has never put any timeline on what is coming. Its impossible to predict, so he doesn't. His analysis is supported with good evidence and hard Math from the Government itself. He has only done one thing for the last two years, plead with the Government/Banks to stop before its too late.

If you believe things are getting better, and the Treasury, the FED, and the banks can overcome what is rapidly appearing to be an absolute financial nightmare for our country then fine, don't listen, and you don't have to agree.

If you know some way that the banks can survive, the Government can REDUCE spending without increasing taxes, and continue BAU I'd like to hear it. The cold hard facts are that they know the sh1tstorm thats coming and they are trying desperately to stave that off. Its too late, and they know it, and so do a bunch of other folks around the world. Our economy right now is completely backstopped and undergoing constant and massive transfusions in the form of stimulus, bailout, and fraud. Those wont continue indefinitely. They can't. We WILL RUN OUT OF MONEY. If they decide to print it it's just as bad! At some point we wont be able to sell our bonds.

The market always goes back to fundamentals. You know what those are right now?

The top banks and financial institutions in this nation are Broke TODAY!

The FDIC is BROKE.

The Government is BROKE..why do you think they want to shove Health care down your throat...LOOK AT THE TAX INCREASES INVOLVED WITH THAT!

THE consumer is BROKE.

Housing and CRE are collapsing.

I could go on, but Denninger's point has been a simple one. Debt has to be cleared. It is Gigantic debt. It is nothing short of Historic and failing to see that is a fundamental flaw in many who are analyzing the current situation. We have never been in this place before as a nation and I'd daresay as a global banking system either, at least in modern times.

You believe what you want, but this is going to be the defining crisis of our times, PO for me is on the Back Burner right now while I watch for the probable and possible signs of financial collapse. I just don't believe that where we are is "normal" nor can it be continued indefinitely. The numbers have become too big and BAU will not hold much longer. Might be less than a year and it might be five before TSHTF, I just dont know.

Once again I truly hope Im wrong.

[Mesuge]

Hm, I guess that since part of your analysis is off the mark, it might establish a lounchpad to disqualify your whole point, but I won't go there too much.

The healthcare issue is plain and simple, the U.S. system is the most expensive among the industrialized nations and for a good reason, it channels huge river streams of money into private cofins for insurance and medical industry. We might debate the point is it more beneficial to the wealthy in terms of quality of care and latest technology available, probably yes. So, I'm not putting any morals here, if in fact the U.S. public thinks (or is by propaganda conditioned to believe) that disproportionate access to health care in their country is the core part of their traditional "freedom and democracy package" lets be it. But don't be surprised by the ongoing vanishing of industrial base to foreign lands with cheaper cost per head also beacause of the health care cost premium (mind you not only based in Asia)..

As I mentioned elsewhere, the "U.S. government" (or the ruling assortment of powerfull moguls) has got quite a few cookies left and is able to postpone any fast paced financial implosion for some more time. So, wake me up when foreign investors are allowed to buy formely "U.S. strategic assets" or the competing/adversarial armies/navies take physical control over the major strategic energy flow hubs in the world..

As long as the U.S. is able to bully others via both the global currency seigniorage (petro$) and waving the biggest club in its hand, it can almost freely: kill, steal, loot, lie, falseflag, manipulate, weasel-out, deflate or hyperinflate, and the rest of it..

It won't last forever, but speaking of collapse we are not there yet.
In short I'm basically counting more on the long term emergency scenario and the imperial reshuffle bit similar to UK implosion during and after WWII, they sold their empire for pennies..

[rangerone314]

Here's a radical idea: universal debt default, nobody owes nobody. No mortages, student loans, car loans, business accounts receivables. Completely eliminate all liabilities.

Then new laws: End corporate personhood. End all private campaign finance and use public money for all elections. A floating budget with levels of discretionary spending for programs with a specific order & percentage that get rolled back if revenue is not there. Military spending will be financed through a gas tax so that more war in the Middle East for oil will mean bigger gasoline tax to avoid subsidizing cheap oil for SUVs with military spending and soldiers' blood.

A complete reboot of the system, with a new currency, eliminate the Fed and have a National/Federal bank that can directly make loans to business and individuals (for crises/impasses like this when banks aren't loaning and everyone is waiting for the next shoe to drop)

[dsula]

Here's a radical idea: universal debt default, nobody owes nobody. No mortages, student loans, car loans, business accounts receivables. Completely eliminate all liabilities.

Again the responsible saver gets screwed. And the irresponsible assholes gets a free-pass.

[dsula]

It won't last forever, but speaking of collapse we are not there yet.

Maybe, maybe not. A financial collapse is a 'sudden' event. The old saying goes: A man goes broke slowly and then all at once.

[rangerone314]

Here's a radical idea: universal debt default, nobody owes nobody. No mortages, student loans, car loans, business accounts receivables. Completely eliminate all liabilities.

Again the responsible saver gets screwed. And the irresponsible assholes gets a free-pass.

Yes. What happens if the government prints away the debt...? Imagine Weimar Germany... you have 1,000,000 marks in the bank. Then you can only buy a loaf of bread.

Assets are important, what physically exists. For example, homes being stripped of copper pipes, defaced because no one lives there, partially constructed homes being demolished. Wasteful.

Death spirals are destructive. The system needs a reboot with shock paddles.

[copious.abundance]

By his own admission, last year Denninger got only 56% of his predictions correct (check his website's January posts). By his own admission, that percentage sucked. It is little better than making random guesses. And people are still dumb enough to pay attention to this guy.

[mos6507]

A complete reboot of the system

I think the system will reboot itself on its own. I'm not sure an engineered reboot would be that much cleaner than a default reboot.