The Market Ticker
Commentary on The Capital Markets
2017-11-13 13:31 by Karl Denninger
in Corruption , 404 references
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Why shouldn't people commit robbery, identity theft, even murder?

Go on, tell me why.  It's wrong, right?  It's also illegal, but the bottom line is that we're a "law-abiding nation", right?


Trump’s crackdown on illegal immigration through stepped-up arrests and border enforcement has shaken the U.S. agricultural sector, where as many as 7 in 10 farm workers are undocumented, according to the American Farm Bureau Federation.

The largest trade group in the United States for farmers admits that 70% of the employees in the sector are illegal invaders and have no right to be in the United States.

This in turn means that one of two things is true for each and every one of them:

  • Their employer is paying no employment taxes because there is no Social Security number being reported at all, and thus you're being directly screwed, as are the employees.  You are being screwed because these people consume government services (whether "soft" or otherwise, that is, the simple enjoyment of things like a water and sewer system, roads, etc) but they pay no taxes to support same, so you are paying for the government systems that support their presence.  Further, if hurt "on the job" you pay for it since they have neither money or workman's comp insurance since they're not being reported as "employed."


  • They are using someone else's identity (e.g. SSN) and as a result the person who's identity was stolen is directly harmed both by the potential impact to their credit and if there is some sort of problem (e.g. they get hurt, etc) that winds up associated with the other person's identity which they are then forced to sort out at their own expense.

Every one of these "businesses" (farms) is a scam outfit and is breaking the law.

Every single one, and some of them are big, publicly-traded firms too (e.g. Tyson.)

The law is being flouted openly, intentionally and with malice aforethought.  Nobody is going to jail and nobody is showing up at those farms and processing houses, arresting both the employee and employer who knowingly and intentionally hired an illegal invader.

And that's just for starters.

Stop trying to argue that I should work hard, pay my taxes and "support society" through my actions while literally the entire food supply chain in the United States, say much less the fuel supply chain is comprised of both employers and employees who stick their middle finger up in the air every single day toward the law and screw all American citizens by doing so.

**** you Mr. President, Mr. Attorney General and the entire rest of the federal "law enforcement" community.  Oh, and **** you to Tyson's CEO, who is on CNBC right now.  May an asteroid land on all of your heads.  You have a major trade group here in the United States which announces that 70% of the employees in the field are illegally here and both they and their employers are intentionally breaking the law and you do exactly NOTHING about it -- except screw American citizens.

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What color was my light again?

I missed him (as you can see) but not by much -- he blew straight through the red without slowing down.  Good thing my brakes are in real good condition.

Had I hit him (or he hit me) this would have been irrefutable evidence of who did what.  No "he said, she said" (despite the other car that did stop and would have been a direct witless.)

Yeah, I know, the date is wrong (the camera has lost power) but the recording isn't....

Now you know why you need one of these.  Of course if you **** up, well, it proves that too.

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2017-11-12 07:00 by Karl Denninger
in Corruption , 484 references
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Note the talk-talk in this article:

The Uber app for iOS has been given a unique privilege on the operating system which allows the app to spy on the iPhone’s screen, a researcher has discovered. ZDNet reports that the Uber app can read the screen buffer in iOS, allowing it to view and potentially record anything on your iPhone’s screen without your knowledge.

The security implications are outrageous.  While passwords usually aren't displayed (sort of), usernames almost always are, and if you "unmask" a password it is as well.

Never mind that the application mix the user chooses to use, their contacts, email addresses, calendar entries -- all of this and more is visible if you can get at the screen (like, for instance, the picture or video you're shooting at any given time!)

Uber, of course, says it's "not connected to anything else" in their current codebase.

That's not the issue.

The issue is this: Uber didn't hack this into their app, Apple let them have it on a "privileged" basis and neither firm told you or got your consent.

Exactly who owns that device in your pocket?  Your viewpoint is that it's you, right?

Well, Apple thinks otherwise.  And so does Uber.  Both arrogated to Uber, without permission, the ability (whether used or not) to spy on everything that shows up on your screen.

This ought be a felony and everyone in both firms involved should be in the dock right now.

You know it won't happen..... and it's just another example of how you, dear American, allow firms to screw you blind and probably would consent to a camera in your bedroom -- or aimed at your glass-walled shower!

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2017-11-11 13:03 by Karl Denninger
in Other Voices , 58 references

Garden of the Gods, that is.....


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2017-11-11 07:00 by Karl Denninger
in Federal Government , 283 references
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Who could have seen this coming...... smiley

The National Park Service has announced a proposal to more than double the peak-season entrance fees at the country's busiest national parks, including Shenandoah, Yosemite, Yellowstone and Grand Canyon.

The park service said Tuesday that it needs the revenue expected from the fees to address its nearly $12 billion backlog of deferred maintenance. But the announcement has been met with worries that higher prices will push the parks out of reach for many Americans.

I was honestly blown away that there was a $30 per vehicle fee to come into the Grand Canyon park last summer.  For what amounts to a "day pass" for many people that's ridiculous.  Further, the camping fees are quite high and thus you would think they'd absorb the vehicle fee there, since you're already paying to be in the park in the camping fee.  And make no mistake -- we're talking about pay showers here when it comes to nickel-and-dimeing you to death -- you have to toss $2 in for four minutes of hot water.

Doubling that is prohibitive for a whole lot of people, and in fact it'll keep me out even though I can afford it.  Beyond not buying the "deferred maintenance" argument (I sure as hell didn't see evidence of that) there are all the nickel and dime "fees" along with rampant concessionaire granting that makes for utterly-silly pricing on anything inside (like a beer or a coke) more-akin to a football stadium than a national park.

Interestingly enough the one place this won't hit is the Smokey Mountains.  The reason is that in exchange for state support for cutting 441 over the pass between Cherokee and Gatlinburg both states required that the Federal Government not toll the road.

I'm not buying what the Interior Department is selling, in short.  Other than bureaucratic overhead and bloat, which I'm quite sure is rampant as in all branches of government the fact is that as usage has risen so have the fees, since they're assessed on every car that goes through the gate.

Since these parks already take 331 million visitors (by their counting) through the gate I simply don't see the funding problem, never mind that the more people come the more money they have.  Raising prices by 100% is rather more likely to result in a drop of visitors and might in fact drop visitor rates enough that it's a net negative.  Or even worse, it'll move a hell of a lot of people to the annual pass which will then provide an incentive to come even more-often, which in turn will increase damage and cost to the parks without any reasonable corresponding increase in revenue.

Leave it to government to first jack up costs through waste, fraud and inefficiency, and them come back with a demand for more money.

It's what they do.

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