Karl Denninger: Only Way Out is Stop Lawlessness Top to Bottom
- Karl Denninger: Only Way Out is Stop Lawlessness Top to Bottom. America is Doomed Without Restoring the Rule of Law
by Greg Hunter’s USAWatchdog.com
Trader and entrepreneur Karl Denninger has a dire warning. He basically says if there is lawlessness at the top of society, there will be lawlessness at the bottom. Denninger, who is so distraught he has suspended writing on his popular website, explains, “It is illegal for any entity with market power or anybody else to price fix. It is illegal to price commodities of like, mind and quantity in the market place. That is a federal law, and violations of these laws are not civil affairs, they’re felonies. . . . The only deterrents for corporations against bad behavior is people go to jail or the firm has its charter revoked because it runs out of money. The reason that is the case is as long as I can pay a fine and shift the cost onto the customers or shareholders or both, there is not deterrent—at all. . . . When does a CEO ever get indicted? When do members of the board ever get indicted? The answer is never.”
Denninger says the lawlessness trickles down, and it’s bad for growth and innovation that creates jobs. Denninger contends, “The problem with this is economic progress. Without people having the ability and the promise to get ahead, what do you have left? . . . If this sinks into people’s consciousness, then the game is over. If you cannot entice people to get out there and create the next big thing, to be the next Intel, to be the next Amazon, then everybody swallows everybody until there is nothing left. If you are all sharks trying to eat each other, then there is no progress.”
Denninger also makes a dire prediction about a coming future crash. Denninger says, “All exponential growth forecasts that do not have an end date on them run up against mathematical facts. . . . You can’t have infinite expansion forever.
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