Karl Denninger is Just Another Doom and Gloom Liberal

Karl Denninger, like Nicolas Nassim Taleb and Peter Schiff, is yet another habitually wrong doom and gloom liberal. Until now, I haven’t written anything about Denninger – one of a handful of leftist, anti-fed pundits who rose to prominence during and after the 2008 financial problem.

How is he liberal you ask? It’s simple. By attacking the fed he’s indirectly advocating the destruction of wealth. Raising interest rates too soon would have the same wealth destroying effects – if not more – as raising taxes and excess regulation. Not only does he advocate wealth destroying ‘end the fed’ policy, he whines about ‘banksters’, blaming them for wealth inequality – as any Huffington Post or New York Times liberal would do. He also denies biological determinism, blaming society’s ills on a handful of targets (Wall St, the fed, rich people, and neocons) versus the other possibility that millions of people are unable to thrive in today’s hyper-competitive economy because they simply aren’t smart enough, not because of a nefarious plot by the rich to keep the little guy down.

Karl is also an inveterate doom and gloomer; like many libs, he believes the world is doomed unless society conforms to his unrealistic, economically destructive wishes. Unlike Steven Pinker, he has no faith in America’s institutions run by smart people, or the free market. Libs seek crisis because they cannot create, and hence accrete inner-strength through the failings of the successful. They, the left, are a misanthropic people.

Karl took credit for creating the Tea Party, only to defect when it began advocating – gasp – Republican values. The Tea Party knows that ending the debt binge and ending the fed are losing issues, so they regurgitate the pro-growth GOP agenda that has proven successful since Reagan: low taxes, free markets and deregulation.

In response to Karl’s article “Your Wealth Was STOLEN” , how would he explain the trillions of dollars of real wealth created in stocks, real estate, and business activity since the market bottom of 2009? Are all the gains in my trading account since 2009 just a hoax? How about Facebook, Ali Baba, the Silicon Valley web 2.0 boom and dozens of other examples of wealth creation and prosperity? Or maybe Karl is just another lib trying to pretend he’s looking out for the best interests of average Americans when, in fact, he’s a pissant who revels in the failure of America and its institutions.

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