Why is it that Karl Denninger is providing better insight into the economy, than our newsies or political classes?
How do I know Denninger is telling the truth? What he is saying, is lining up with reality, whereas our political classes and newsies are singing a tune that is utterly disconnected with reality.
If we are in economic recovery, then why are state tax receipts not showing this? Why are revenue projections so gloomy? Why are there so many empty lots in housing developments? Why are jobs not improving? Why are Greece, Portugal, and Spain on the verge of sovereign default? Why is our government spending money at triple the deficit that Bush ever ran? Why are the Chinese not buying our debt? Why are we monetizing it?
This is “economic recovery”? By what definition?
And if the economic outlook is so good, then what’s with all this damn secrecy? (Hat Tip, once again, to Denninger.)