Nothing Can Stop It: “An Economic Collapse that is Going to be Worse than 1929″ *Video*
July 21, 2013
Before anybody in America ever cared about AIG, credit markets or bailouts, Karl Denninger had warned that the fuse was burning and had “gone inside the box.” This was in September of 2008, about a month before the bottom fell out of global markets and the giant kaboom was heard ’round the world. He had repeatedly sounded the alarm. A “credit event” was coming, and it couldn’t be stopped. No one listened.
The aftermath of the credit detonation that followed will go down in history as one of the most severe economic crises since the Great Depression.
Now, nearly 5 years on, we’re right back to where we started. In fact, we’re much worse off than ever before and in all likelihood we’re going to experience an event so severe it’ll make the Great Depression look like a picnic.
The time is fast approaching when the US government, the Federal Reserve and private banking conglomerates lose control of the entire system. When that occurs, confidence by the public, as well as our foreign creditors, will be lost.
And according to Karl Denninger, the math says it’s going to happen within two years time.