Karl Denninger writes:
The European economy is in the toilet and China is rolling over. So is the United States. We used our powder and ball; it's gone.The whole post is here. And while you're at it, check out Denninger's parsing of today's unemployment numbers.
It's not just Denninger. I posted an outlook from Raoul Pal last night. And here's this morning's take from the Weiss newsletter Money and Markets.
Ugly stuff, eh?