Well, Here Comes Europe

Karl Denninger
The Market Ticker

I hope you’re ready…

…Bernanke’s machinations and other games “gave” the Congress four years to do the right thing.  They didn’t, because that same “gift” also destroyed all market signals of urgency.

As such you have people like Krugman and others claiming that it’s all ok and that we can spend with wild abandon, taking our fiscal medicine never.

They were wrong.  Congress was wrong.  The Republicans were wrong, the Democrats were wrong, and the Administration was wrong.

Congress is out of time; as I noted the deficit spending must stop now, irrespective of the fact that it will cause significant economic damage.

We will survive it if we do it now…

Read the entire article at The Market Ticker.

Related: Wall Street Thrashed as Italy Worries Mount

The markets were pummeled Monday in the worst rout since November as traders fretted over the specter that Italian elections may not yield a government.

Also, Left takes commanding lead in Italy elections

Nearly one in five register protest vote against the establishment.

Update: Going to Hell In A Handbasket – Joe Biden: Americans no longer worried about the economy

…Joe Biden today in a presser stated Americans don’t have the same economic worries they did when President Barack Obama came into office…

Read the whole thing.

Update 2: Video of Biden from Freedom’s Lighthouse: VP Joe Biden: Americans are “No Longer Worried about our Economy being Overwhelmed. . .”

Here is video of our esteemed Vice-President, “Buy a Shotgun” Joe Biden, saying he thinks there is no doubt that Americans are “no longer worried about the Economy being overwhelmed.” Biden also said there is “very little doubt” on the part of anyone that America is in position to “lead the world in the 21st Century…


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