An Economic Collapse that is Going to be Worse than 1929: Karl Denninger
By Greg Hunter
15 JULY 2013
Employers are cutting full-time employees back to part-time to avoid the requirement of providing health insurance under Obama Care. Trader Karl Denninger says, “As the Obama Administration runs against the economic reality of what they passed, they are now trying to find ways to dodge it. . . . The Obama Administration’s reaction to this has been to unilaterally, and by the way illegally, put off the imposition of mandate.” This is not going to save the teetering economy as Denninger contends, “Bernanke has lost control of the bond market and, in general, his policy. . . . The reality is the Fed is not in charge, and when that confidence level breaks, you are going to see all hell break loose.” Denninger goes on to predict, “We are setting up for a collapse that is going to be worse than 1929, and it’s going to come sometime within the next two years. It could come as soon as the next couple of months, but it is going to happen, and there’s nothing that is going to stop it.” Join Greg Hunter as he goes One-on-One with Karl Denninger of Market-Ticker.org.