If you have "no place to go," come here!

You can even get stucco!

Oh, boy, can you get stucco.

Yes, I know Lord Eschaton posted on this, but I just had to write the headline...

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Submitted by jawbone on

the market over a cliff.

Will that happen? He's not positive:

...what I do know is that if you play Thelma and Louise, you only get to do it once.

Almost 1200 points in 10 days. That's impressive, from 8300. 14%, give or take, below all support, into the "free air" with the next reasonable expected level of decline down around 3500, give or take a few hundred, from the start of the bull run in 1994.

He's very worried about the number of pension funds havily invested in the stock market and the effect of that on corporations if their pension obligaions can't be met. Not to mention Calpers....

This post is very, very dour. And deons't seem all that unlikely, the way things are going. He is not at all well disposed toward Obama/Geithner/Bernanke's actions so far.

I don't know evough about the markets, but I have read those who have been right about Big Shit Pile who pay attention to Denninger. Not happy reading, but give it a go -- appreciate readers' reactions.

Submitted by regulararmyfool on

How about those carefully regulated and audited insurance companies?

You have not seen jack yet.

Wait till someone at one of the large insurance companies blows the whistle on what they actually have in the vault.

If, after an unexpected audit by some internationally recognized non-US auditors, they are shown to be in fine shape, give them the banks.

If not, then kiss your home insurance, car insurance and health insurance, goodby.