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"1930s Style Depression" on the horizon

Deteriorating job data

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Coming: "A 2% Treasury rate"

In this video Karl Denninger looks at the employment data.

It's not good and it's deteriorating.

These days, it's hard for people to grasp this basic fact: employment drives consumption and consumption drives profits and profits drive the ability of companies to service their debt.

Pull out employment and what happens?

Reality can only be postponed for so long.

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