The D-Word Vs. The Shiny

The corporate media continues to obsess over the very shiny, new religious extremist. She's so shiny that we just can't help but give her our undivided attention, too.

A fleeting mention of the D-word would never distract us from watching the shiny. We loves us some shiny.

The end result of the global economic slowdown may be the U.S. announcing national bankruptcy as the government cannot afford the bailouts that it promised and the market will not bail out the government, Martin Hennecke, senior manager of private clients at Tyche, told CNBC on Thursday.

"We expect a depression in the United States. We expect a depression, very possibly, also in Europe," Hennecke said on "Worldwide Exchange."

...

When the government can no longer pass the United States' "immense debt" on to taxpayers, it will turn to the holders of U.S. dollars, leading to the eventual downfall of the currency, Hennecke said.

Don't worry--the private sector will fix it. It always does, right? Full article here.