One of Denninger's better Rants - he Almost Names Names

[abduLMaria]

http://market-ticker.denninger.net/categories/3-Musings

"Will It All Come Tumbling Down?

Let's juxtapose two stories.  First, from Bloomberg:

    Aug. 14 (Bloomberg) -- More than 150 publicly traded U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings, a level that former regulators say can wipe out a bank's equity and threaten its survival.

Ok.  Now how about this one?

    WASHINGTON (MarketWatch) -- Delinquency rates for loans and leases at U.S. banks increased to a record 6.49% in the second quarter from 5.58% in the first quarter, the Federal Reserve announced Monday.

So let me see if I get this right.

At 5% of non-performing loans a bank is at risk of being insolvent.

But the entire banking system in The United States had its non-performing loan ratio increase from 5.58% in the first quarter to 6.49% in the second, a record, and higher than the 5% level at which the survival of a bank(ing system) is threatened with collapse.

Hmmmm....  So should we take from this that the entire US Banking System is about to collapse?

This much we know for certain - you're being screwed - systematically - to cover the sins of these banksters who made loans to people who they had no reason to believe could pay:"

"The people recognize they're being violated repeatedly by the scam artists on The Beltway and Wall Street, but they're not quite sure how to stop it.  Certainly, hollering at Congress hasn't done any good.  The Fed has refused to enforce consumer protections, as has Treasury, and both have done their damndest to overrule state regulations and even State Attorney Generals whenever possible.

Here's reality folks:

The system still has too much non-performing debt in it, and that percentage is going up, not down.

It is getting worse, not better."

Denninger understands how the "markets" (equity, commodity, bonds, credit derivatives) way better than i do.  the people that we often refer to as "Zionist banksters" and "AIPAC controlled puppets", he refers to as scam artists.  so he's close, he's just avoiding the issue of the ethnicity of the banksters.  (nor is he comfortable talking about 9-11.)

still, he has helped me understand the frauds of the last 10 years much better.

i dare say, there is an overlap between the 9-11 perpetrators and cover-up artists, and the Zionist Banksters.

[CrackSmokeRepublican]

Thanks Abdulmaria,
I really think Denniger is one of those New Moral Economists sometimes seen and heard these days -- they are the ones that share "Disgust and Regret" with "Fear and Greed". I get the sense that they just want to say it like it is since a large part of their "gains"  is likely going to go up in smoke.

[abduLMaria]

Thanks Abdulmaria,
I really think Denniger is one of those New Moral Economists sometimes seen and heard these days -- they are the ones that share "Disgust and Regret" with "Fear and Greed". I get the sense that they just want to say it like it is since a large part of their "gains"  is likely going to go up in smoke.

actually in Denninger's case, he spent about 15 years building a tech company, sold it and became very wealthy.  then started trading (stocks, bonds, commodities, everything) - and writing.

for example, about 6 months ago, when Citigroup and BofA were both circling the toilet, Denninger bought Citi for $1 a share.  well, when it went back up to $3 a share, he profited handsomely.  also, he never "pumped" Citi when he owned Citi (if we believe his written statements).