Afternoon Delight 10/24/11, Pure Insanity, CAT

I'm just gonna lay it out for you like I do every day. EVERY SINGLE DAY you get reports here where I try very hard to prove to you not only the US but the world is in dire straights and has crossed the line moving into financial oblivion. The math proves it. The economic destruction is the daily proof. I'm gonna pull a Denninger and give you a wad of I told you so's below.

Off we go (yet again) -

STB has been preaching about the municipal crisis to come for years now. Well, those years are finally adding up. State and muni budget cuts that are a direct result of the borrow to spend days are finally catching up to the system. You see folks, growth was not real. It was borrowed. The future was mortgaged to fuel the present day splurge. Somehow no one saw it coming. Well, it's here. You see the munis can't support themselves, the states can't support the munis and the feds are no longer supporting the states. Got it?