The Market Ticker
Commentary on The Capital Markets
Logging in or registering will improve your experience here
Main Navigation
MUST-READ Selection(s):
There Can Be NO Compromise On Data

Display list of topics

Sarah's Resources You Should See
Sarah's Blog Buy Sarah's Pictures
Full-Text Search & Archives

Legal Disclaimer

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.

NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.

The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.

Market charts, when present, used with permission of TD Ameritrade/ThinkOrSwim Inc. Neither TD Ameritrade or ThinkOrSwim have reviewed, approved or disapproved any content herein.

The Market Ticker content may be sent unmodified to lawmakers via print or electronic means or excerpted online for non-commercial purposes provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media, to republish full articles, or for any commercial use (which includes any site where advertising is displayed.)

Submissions or tips on matters of economic or political interest may be sent "over the transom" to The Editor at any time. To be considered for publication your submission must include full and correct contact information and be related to an economic or political matter of the day. All submissions become the property of The Market Ticker.

Considering sending spam? Read this first.

2018-11-12 09:35 by Karl Denninger
in Corruption , 203 references
[Comments enabled]  

I have long written on the lack of the Rule of Law and what it means for America.

It was the focus back in 2008 when I started writing The Market Ticker and has remained so since.

Nobody went to jail after 2008.  Almost-literally nobody.  The fraud was endemic, it was massive, it spanned trillions of dollars of securities and properties yet exactly nobody in the large firms most-responsible went to prison.

Broward Couny has long been the seat of election corruption.  The SOE there was implicated by a judge -- not just partisan political candidates -- in a long series of criminal violations of Florida law, including ballot destruction long before the period of time for retention had run that made inspection of the results of a race impossible.

This same individual has, multiple times, designed ballots that have no resemblance to reason.  In Florida, as in most places, there is one ballot that contains federal, state, county, and local questions and races -- and which may be different depending on exactly what precinct you live in (e.g. school board seats, county commission, etc.)  Rather than set standards -- such as that all federal races must appear at the top of the ballot in a specified order -- Florida allows the SOEs in each county to design the ballot.

Both Palm Beach and Broward have a very high percentage of retired and partially-disabled residents.  Many of them cannot see well enough to drive and/or are incapable of safely driving due to other conditions.  In 2000 the Democrat Party, which controls the SOE in those counties, printed up "palm cards" with the number to punch to vote for Al Gore and handed them out by the thousands to Seniors they drove to the polls in buses.  But they were so incompetent that they printed the wrong number on said card -- it was actually for Buchanan instead of Al Gore, and the result was that a county with the heaviest representation of Jewish people in the state cast a higher percentage of votes for someone who has repeatedly raged against Israel than any other county!  Despite the screams of "hanging chads" and such the truth is that the Democrats attempted to cheat and it blew up in their face, costing them the Presidency.

"Punch card" voting was binned after 2000 in Florida due to that debacle.  But then there's this, which happened more than a decade later:

The Department of State is asking county election officials to verify the information. Election supervisors are contacting voters and if someone is not a citizen, their name will be dropped from the voter rolls.

But an initial list drawn up by the state — and not widely released — shows that a comparison of voter lists and driver's license information turned up a list of nearly 182,000 people who may not be U.S. citizens.

This occurred in 2012 or during Rick Scott's term as Governor.

Were those rolls verified and non-citizens purged?  Most of these people identified were listed as "active" voters, meaning they not only registered they voted.

If you're a non-citizen that's a criminal offense.  I do not recall one prosecution making the news in this state for doing so and yet that preliminary investigation showed that a material percentage of these people, while here legally (e.g. on student visas, etc) were not eligible.  Where were the thousands of prosecutions Mr. Scott?  As Governor you are the head of the FDLE -- the State Cops!

As I pointed out yesterday there is no legitimacy in any Florida State election nor the results any longer.  200,000 illegal votes with a 7 million (roughly) turnout is enough to change the results of any race by up to three full percentage points.

This is not the razor-thin margin usually required for small-ball cheating to work -- it's huge and it virtually always favors by a factor of 10:1 Democrats.

Then there's this:

 

That's organized, institutional, SHERIFF-SPONSORED cheating.  Exactly the same thing led directly to the Battle of Athens -- except this time around we are a nation of Soyboys rather than men.

Got this folks?  The County got caught cheating, an Airport Employee saw hard evidence of it, called the cops, the original cops did nothing and the same Sheriff who ignored multiple felonies by the Parkland shooter sent the bomb squad and closed the airport rather than finding and arresting the driver of said vehicle on suspicion of felony election tampering.

Oh, and the number of news outlets that covered the reason for the fake bomb alert last night?

Zero.

**** this state, **** Broward and their Sheriff, **** the residents of Broward who let this take place and sat on their ass, **** every employee of the FDLE from those who claim to be "sworn officers" but really are nothing better than members of a mob down to the janitor in FDLE buildings, **** all the media with a rusty chainsaw who have refused to report on any of this in a reasonably-honest manner, **** you Rick Scott you piece of five-alarm ****; you do not deserve an honest election as you intentionally failed to enforce the ****ing law and if you think I'm setting up a business that could employ dozens or more people in Florida this coming year, which I fully intended to do until this election you're out of your ****ing mind.

View this entry with comments (opens new window)
 

2018-11-11 07:00 by Karl Denninger
in Corruption , 199 references
[Comments enabled]  

This movie is instructive.

It is real.  Yes, this really happened, here, in America - and not that long ago.

The year was 1946.  We had just won WWII.  And in the middle of America, a corrupt local government tried to steal an election.  It was not the first election they had stolen.

But this was to be the last election they would steal.

This was when men were men.  When they understood that election integrity was important enough that they might have to go to war -- literally -- with men in their own nation.

When does election integrity start to mean something.  When does the Rule of Law mean something?

Rick Scott sat back and allowed Broward's Brenda Snipes to violate Florida law, including alleged felony violations, in previous elections.  This time ballots were moved well after the election in violation of chain-of-custody laws -- opening the question as to whether legitimate ballots were swapped with hand-filled out ones to rig the outcome.

Tampering with elections never matters unless an election is very close.  When there's a wide differential in vote the amount of tampering required to swing the outcome is so large that it would be very hard, without widespread coordination between different groups in different counties, to swing the outcome.

This was a close election and one race has already been swung.  Two more remain open but within the margin of tampering in a large county like Broward.

Were our state governed under the Rule of Law, especially after 2000 when the same crap went on, this woman would have been removed from her post under authority the governor has - long ago.  She was not.  Now Rick Scott stands to lose a race it appears he should have won due to his own refusal to enforce the Rule of Law, just as he has refused with medical monopolists over his term as Governor which puts him in charge of State Law Enforcement, just as Trump is in charge of the DOJ.

So should Scott lose due to corruption he fomented and approved of, he deserves it.

However the State's residents not only do not deserve it they shouldn't tolerate it.

That doesn't mean we need to storm the elections offices in Broward by dark of night.

But it does mean that if the State of Florida wants to claim to give a crap about the Rule of Law State Law enforcement must immediately act to arrest all involved in illegal movement of ballots, to disqualify all contaminated or invalid ballots, including those the SOE's office caused to be contaminated that cannot be separated and that all "found" ballots that were "found" post the Florida-mandated cut-off times and dates must be disregarded.

In addition if, as has been reported, Broward has more registered than elegible voters then the entire county must be considered for being excluded from results on that basis since it is virtually impossible to decontaminate the results of an election after the fact in in such a circumstance.   If there is a way to decontaminate the results after the fact that is of course preferable -- but a contaminated result in a close race that changes the outcome cannot be tolerated.

If this is not done right now, and this lawless behavior is allowed to stand then no election held in this state can be considered legitimate and no alleged legislative or enforcement action taken by any alleged winner in this state is legitimate either.

You ought to think long and hard about the implications of silent acceptance of this crap as they are grave indeed.

View this entry with comments (opens new window)
 

2018-11-10 07:00 by Karl Denninger
in Editorial , 395 references
[Comments enabled]  

Oh this is rich.....

If you follow the news you know that Bannon and Frum had a debate in Toronto recently.  The so-called tolerant Liberals tried to prevent the debate from taking place.  Then a screw-up at the end left people with the mistaken belief that Bannon had actually won, when in point of fact it appears the results were, by the scoring used, a statistical tie.

But the screamer -- Frum blowing his own brains out -- is right here:

The story ends, then, in a great irony. Integral to the liberal project, again in the broad sense of the word liberal, is confidence in the power of reason. Words and arguments can overbear ignorance and prejudice. Over the long term, words and arguments can even overcome oppression and violence. That’s why liberals in the broad sense are so uniquely horrified by official lying: How can reason prevail unless words connect to reality? How can we argue against people who will spread fictions, if serviceable to them, without a qualm?

What?

There has not been one whit of honesty in, for example, the treatment of Kavanaugh.  Every single liberal -- big "L" or little "l" -- involved has consistently lied.  There are now two criminal referrals for lying about capital felonies.  The media has breathlessly reported all of the lies and not one bit of the refutation of same, nor has it focused in any way on the rank hypocrisy and inconsistencies -- all hallmarks of lying.

Ditto for the so-called "caravan."  The facts are that these individuals broke the law immediately upon entering Mexico which they did, largely, by force.  That is they broke down a fence or jumped a border after being told not to; it is not as if there was any question that they knew their actions were criminal.  They did not care.

Then there is the rabid anti-Semite that was caught in NY; the media and liberals all claimed right up front when the graffiti and attempted arsons happened that it must be a white Trump supporter.  They did so without a single shred of evidence and then, when the alleged perpetrator was caught and it turned out to be a black, queer and liberal activist do you think there was a single apology rendered?  Oh hell no.

How can reason prevail unless words connect to reality?

I'll answer that: It cannot and thank you very much for splattering your own brains all over the sidewalk, Frum -- and that of the Atlantic, for which you work.

View this entry with comments (opens new window)
 

2018-11-09 08:20 by Karl Denninger
in Editorial , 247 references
[Comments enabled]  

I had an interesting experience the other day.

Was having a beer in a place I haven't been before -- it's new.  I found myself in a conversation on many topics, one of which was sort of, tangentially, the economy and markets.

The comment was made that Trump was great, and look at the market.

I pointed out the actual budget deficit of $1.27 trillion last fiscal year.

In other words, 6.23% of the economy.

Of course the market will go up (fast!) when you have a ~3% 10 year Treasury rate and are increasing money supply at 6.23%.

For a while.

Just like it did in 2004-2007.

But it will also crash.

Just like it did in 2008, 2000, and every other time the government -- any government -- has done this.

There is only one place you can get $1.27 trillion out of the budget and balance it.  Health care.

You can cut the entire defense department to zero and not get there.  Of course you can't cut defense 100% and nobody would every really suggest that -- in their right mind or not.

Yet Medicare and Medicaid, or in the "as spent" Medicare and Medicaid services, totaled $1.466 trillion last fiscal year ending September 30th.

If you fixed the medical monopolies that would collapse price by 80%; you'd not spend $1.17 trillion of that.

That's within $100 billion of the budget being balanced.  It's the only way to get there as it's where the money is being spent massively in excess of tax receipts -- virtually in fact the only way to bring Medicare and Medicaid spending in line with tax receipts is to kill the monopolies so they return to the ~3-4% of the economy they were before the monopolists took over (down from the almost 20% they are now.)

Now cut the fraud in the Social Security Disability program -- money paid to people who can and do run marathons, say much less be able to work, and you'd be the rest of the way there.

But math doesn't matter to people infested with either Democrat or "MAGA" disease.

The facts don't matter to either group -- which is 90% of the population.

You may as well give up folks; this particular version of insanity is going to destroy this country, it's going to do it soon and neither side of the aisle will face basic arithmeticwhich makes neither of them worthy of associating with.

It's sad -- but true.

View this entry with comments (opens new window)
 

2018-11-08 09:20 by Karl Denninger
in Editorial , 176 references
[Comments enabled]  

Dims "promise" to "tackle" gun violence.

How about if we tackle the people who are inclined to such violence instead?

Let's start with who's the shooter?  There are already rumors flying around but I'm not going to play that game; I'll wait until he's identified.  But I will say this -- someone walking into a nightclub and shooting it up like this in cold blood didn't do it on the spur of the moment.  From the reports thus far this sounds like a carefully planned and executed attack by someone who was not only hellbent on their actions but had coldly thought it out and was not in any way surprised, shocked or otherwise unnerved by flying bodies and blood -- not someone who was raged or roided out due to a spat with a girlfriend or something like that.

So is this domestic terrorism?  Probably.  But again -- let's wait until we know eh?

This much I'm sure of -- the gun didn't shoot anyone.  A person did.

Israel has managed to operate in one of the most-hostile places in the world with damn near everyone around them wanting them all dead -- and they mean it too.  Yet they have not suffered any air terrorism (despite it being a very tasty target for such a jackwad) nor do they suffer very many of these sorts of incidents.  A large part of that is because they focus on people, not things; they understand that people with guns on the good side will be the only means of stopping evil bastards, no matter what they're using.

So you have armed people in various otherwise "soft" places - - like schools.  But if you think it's hard to get a fully automatic firearm in that part of the world you're out of your mind.  It's much harder to get one here in the United States than it is there where every terrorist group on the planet has some sort of representation within a few dozen miles.

And then you have people making terrorist threats right here who are not arrested -- like those who did so at Tucker Carlson's home, including one caught on video talking about bombs.  Gee, I wonder where someone gets the idea that they could go shoot up a bar unopposed?

Oh by the way, that makes two bars, right?  Pulse and now this one?  What's the common element?

Firearm carry is broadly illegal in such an establishment.

Maybe it ought not be.

And maybe we ought to focus on people instead of things.

But that doesn't fit the Dim's narrative, does it?  Nope -- especially not when you consider that of the various people who have publicly stated that violence is part of their intent a very large percentage of them are hard-left jackwads.

View this entry with comments (opens new window)