Quote:
Originally Posted by AltonKelsey
I should amend that , I haven't read him in quite a while, too many other sites, and just forget to. I recall liking most of his stuff when I did read. Think I confused him with some market pundit who is rarely right.
|
Denninger, like many perma-bears including myself, took it on the chin with his predictions back in 2009 concerning the collapse of the economy. He no longer provides an annual list of predictions, starting off with the scoring of the previous year's. In the early days of his site (2007-2009), he'd have a daily video reviewing the markets, but that went by the wayside long ago.
He has "wound down" his site considerably, and now is focused on health care blowing up the economy, with the occasional rant on internet security, Facebook being evil, and hiking. He just has one remaining forum section open, and still wields the ban hammer early and often for those that disagree with him.
I learned a lot about charting following his site, and his over-the-top emotional rants didn't bother me too much, like it did with some of my friends. He brought numbers to the table, which is something many in the financial industry don't do, and I still agree with his basic thesis of how the fraud and racketeering in the financial sector will come to a head some day.
Charles Hugh Smith had a nice post a couple of days ago about how this isn't your grandfather's market, nor even your father's. Kinda scary when you actually stop consuming for a moment, and think about it....
http://www.oftwominds.com/blogjuly17...ation7-17.html
Quote:
Each new policy destroys another level of prudent fiscal/financial discipline.
The discipline of sound money? Gone.
The discipline of limited leverage? Gone.
The discipline of prudent lending? Gone.
The discipline of mark-to-market discovery of the price of collateral? Gone.
The discipline of separating investment and commercial banking, i.e. Glass-Steagall? Gone.
The discipline of open-market interest rates? Gone.
The discipline of losses being absorbed by those who generated the loans? Gone.
And so on: every structural source of discipline has been eradicated, weakened or hollowed out. Financialization has consumed the nation's seed corn, and the harvest of instability is ripening in the fields of finance and the real economy alike.
|
