Posted by Karl Denninger in Editorial at 12:43

Source The Market Ticker

"Our D<snip>bag Government - Midyear Debt Update

"........Here's reality folks: We've written checks for 30 years with our political mouths we cannot cash with our producing fingers.  We've papered over this with fraud in virtually every nook and cranny of public and private life.  We have allowed producers to depart for lands where effective slavery exists for labor, refusing to enact parity tariffs to put a stop to it. ..........."

".....We are in the beginning stages of a global asset market collapse......."

http://market-ticker.org/archives/2471-Our-Douchebag-Government-Midyear-Debt-Update.html