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Commentary on The Capital Markets
2017-12-13 07:00 by Karl Denninger
in Company Specific , 270 references
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Gee, how many founders who tell you that you're being psychologically exploited and abused do you need?

One?

Two?

When do you wake up America and destroy these firms, reducing their stock price to ash?

There are legal ways to do it.  You can delete your profile and stop using it.  You can ban your kids from using it under pain of losing their Internet access, computer or cellphone.  You can target anyone who advertises on these sites and boycott them.  You can shun, refuse to associate with and even picket anyone's home who works at these companies -- which is now incidentally a very large number of people, and extend the same sanction to all their family members who are existing on the back of said exploitation.

All of these things are both peaceful and legal forms of protest.  You can raise the cost of operating such a firm and destroy its revenue because it relies on you being a drug-addled sheep in order to survive.

If you and others push back in any material quantity then these firms will cease to exist and their abuse of the public will end.

Now we have another founder who has reinforced what was said before about Facebook intentionally targeting psychological addiction and knew at the time that it was destructive, not positive for anyone other than those making a profit from same:

"The short-term, dopamine-driven feedback loops that we have created are destroying how society works. No civil discourse. No cooperation. Misinformation. Mistruth. And it's not an American problem. This is not about Russian ads. This is a global problem. So we are in a really bad state of affairs right now, in my opinion. It is eroding the core foundations of how people behave by and between each other."

He said that he rarely, if ever uses Facebook, posting maybe twice in seven years, something that has caused "huge problems" in his own social circles. He also added he would not let his own children use it. 

This guy helped cause the problem.  If he had a hint of actual personal responsibility for the destruction he himself brought upon society he would commit seppuku in the middle of Times Square.

So does this guy really feel "tremendous guilt" or is he worried that the people might literally eat him?

Good question.

But in the meantime perhaps you should consider whether you wish to feed a beast that will eat you, as he states very clearly will be the case, or whether you will do your damndest to unplug from said beast and then destroy it and all who work to continue to build, feed and make their living by and through it.

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2017-12-12 22:43 by Karl Denninger
in Editorial , 369 references
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Well, Mr. President, it seems you have a wee problem, although of course "preliminary" projections can be wrong.

So much for that alleged agenda over the next year...... which makes things a bit dicey for 2018 too.

This is what you get for not going after the health scam and instead working to hand $20 billion+ a year to hedge fund managers via the carried interest scam in your so-called "tax cuts."  An act that you deserved to lose over, and now it appears you have.

Enjoy it long, dry and hard SIR for you deserve every inch for taking the one plank in your platform that would have made an actual and immediate difference to the middle-class American and throwing it in the ****ing trash the day after your election, never to be heard from since.  You have deserved to get it up the ass politically for that crap for the last year and now it appears you may just have had exactly that happen.

Just desserts for the wicked lie you ran on the public you shall now reap.  Go play "sit and spin" with Paul "I'm a lying sack of crap" Ryan and Mitch "I'm a dick" McConnell.

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2017-12-12 10:39 by Karl Denninger
in Editorial , 374 references
[Comments enabled]  

How many bites at the apple do you get?

This is quite important, and today's the day Alabama decides who takes Jeff Sessions' place in the Senate.

But as you vote today if you live in Alabama remember this: There should be exactly one bite per election cycle and claim.

We know, at this point, that one of Moore's accusers forged the yearbook signature.  She claims only in part, but it wasn't an "annotation" it was a forgery because she claimed originally that everything written there was Judge Moore's.  Now she admits she forged part of it.

In other words the accuser has admitting to lying.

What we do not know is what else she lied about.  There is evidence that she lied about everything else, but we can't prove that.  We don't need to.  The standard of impeachment of a witness or claimant is that if any material component of their claim is proved to be a lie then everything material linked to that must be disregarded.

Since there is no physical evidence this means her entire claim must be tossed.

Now let's talk about this in the remaining contexts -- if Moore wins, and the "renewal" of claims against President Trump.

The people have every right to judge these claims but the Senate and House have no right to override that judgment.

Impeachment and ethics investigations are appropriate for claims not raised during an election -- that is, claims that come to light after the election takes place.  The public had no notice or ability to judge in a political context because they didn't know about it.  However, if the people have said notice and ability to judge and render their decision at the polls then the House and Senate have zero right to override that decision.  To allow otherwise is to allow the Legislature a veto over the votes of the people.

The legislature has no right right to veto the public's vote and attempting to assert that right is exactly the sort of abuse that led to the American Revolution -- justly so.

So if there are women who claim Trump sexually harassed them (or worse), and said accusers did not come forward and did not accuse the now-President during the campaign, that is, the accusations were not able to be vetted by the people the yes, they should be heard.  The claims should be evaluated.  And, if the claims prove up they form the basis for a Bill of Impeachment.

However, if these accusations were made during the campaign (I believe they all were in the context of Trump's accusers, by the way), they were vetted by the people and found non-credible as expressed at the ballot box then the case is closed until the next election.  For the House or Senate to "investigate" a matter on which the public has already expressed judgment when it is their judgement (along with the Electoral College's) to express is an act for which they have no ethical or constitutional standing.

If said accusers, being rejected by the voters, wish to re-argue their case they may do so during the next election.  The voters may once again decide at that time.

Likewise the accusers of Judge Moore, should he win, have no standing politically until the next election for his seat and the Senate has no right to open an ethics inquiry into a matter already vetted by the voters and rejected as non-credible.

You cannot sue someone for something in this country, lose, and then sue them again for the same thing.  You cannot be prosecuted twice for the same offense either.  It is not only perfectly legitimate but proper for the House and Senate to investigate matters that come before them which the public has not been able to vet and express their opinion on at the ballot box, as such events are potentially public frauds for which redress must be available.

However it is a rank abuse of process identical to that which led to the American Revolution for those bodies to attempt to void a vote of the American people.

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2017-12-12 08:38 by Karl Denninger
in Editorial , 278 references
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Got Prime?

Use AWS?

Buy things on Amazon?

I know the excuses; "Amazon has what I want and delivers."  Well, so do a lot of other web properties, and they're often cheaper too.

"I like the 2 day 'free' delivery."  Most firms match it for purchases of some size (over $25 or so) these days.  Oh, and their pricing is better. And there's no such thing as 'free' either.

"They're the leader in AWS."  Maybe on sales volume, but certainly not when it comes to pricing, and if you use their "special tools" you're buying into a forced monopoly, which is first-class stupid as a corporation.

And what are you really doing folks?  You're providing money to Beelzebezos so he can in turn sign contracts with Woody Allen, who Dylan Farrow has accused of raping her.  This allegation is 20+ years old and the prosecutor in the district said probable cause existed to charge him.

There is of course the matter of his current marriage and how he came to "find" said wife.  I won't judge anyone for who they choose in a cooperative and adult manner to be with, but when you state in public that part of, if not the major the reason it "works" is a paternal relationship -- and you had one -- that's a wee different issue and puts into play all sorts of other possibilities, none of them good.

Amazon corporately and Beelzebezos personally cannot claim ignorance and neither can you when you spend money there.  It's not like any of this was or is a secret; it's all out in the open.

In my view that's pretty damned depraved.

I suppose once you sign contracts worth millions with a guy who stands accused of raping a 7 year old and you use the money individuals and corporate America spend with said business to do it then abusing employees would be no big deal.

Even if that abuse includes putting together "delivery crews" that are worked so hard they have to******in a bottle while on the job lest they miss their quota.

Of course Amazon says that they "contract with people" who "make their own rules."  Uh huh.  When you set impossible conditions and find takers the result is not a matter of clean negotiation.  Coercion, extortion or intentional deceit -- that is, fraud -- must exist because nobody intentionally agrees to do an impossible thing.

The argument that such an agreement (e.g. to work, etc) is "consensual" falls flat but it's even worse when it comes to Amazon warehouse employees; there have been multiple exposes' written on that both here and in other nations; here's a somewhat recent one -- also from the UK:

Timed toilet breaks, impossible targets and exhausting, “intolerable” working conditions are frequent complaints. Staff have been paid less than the living wage, and it even emerged drivers had faced fines for “early” deliveries.

And those are the mild complaints -- from someone who went to work there and is a marathon runner.  In other words he's not your typical couch potato.

Don't even try working there if you are -- you might literally die.

This isn't new either folks -- there have been articles going back for nearly half a decade on these issues.

Workers said they were forced to endure brutal heat inside the sprawling warehouse and were pushed to work at a pace many could not sustain. Employees were frequently reprimanded regarding their productivity and threatened with termination, workers said. The consequences of not meeting work expectations were regularly on display, as employees lost their jobs and got escorted out of the warehouse.

During summer heat waves, Amazon arranged to have paramedics parked in ambulances outside, ready to treat workers.

Actually having decent working conditions inside the warehouse costs more, apparently, than having paramedics (who I assume will bill the workers!) standing by when the "voluntary" workers inside pass out from heat exhaustion.

A few days ago I saw billboards in Cincinnati advertising for "seasonal" help for Amazon's warehouse (I assume in the immediate area.)  I suppose in Cincinnati, in December, at least it won't be too hot......

This is what you're funding America.

Abuse of all sorts, and it's making Beelzebezos and other executives billions while others lose their jobs as the monopolist trashes business after business.  In exchange the jobs allegedly "created" to replace those robbed by Amazon are nightmares that leave workers arguably worse off than in terms of life experience than SLAVES.

After all if a plantation slave-owner pushed his slave hard enough to severely injure or kill him or her he had to buy another one, and that cost him money.

With Amazon they have people lined up out the door to take your place who are also being suckered, just as you were so there is no inhibition whatsoever on Beelzebezos.  It appears there are no laws that will be applied against him personally or otherwise corporately to stop any of this.  It's been literally going on for more than five years.  You'd think these sort of "work rules" and "working conditions" would bring the banhammer of the government down on you -- and it would if you tried it.

Beezlebezos?  Not so much; he laughs at you.

ALL OF YOU AMERICA.

EVERY.
SINGLE.
ONE.

The only remaining check and balance is in fact you.

If you're a company and use AWS then I'm calling you both a supporter of child molestation and abusing workers to a degree worse than slavery, on-balance.

Got a Prime membership you pay for?  Ditto.

It's all the reasonable and decent people in society have left as a peaceful weapon against this crap.

If there are any reasonable and decent people left in America, that is.

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2017-12-11 16:31 by Karl Denninger
in States , 362 references
[Comments enabled]  

Eat the bomb (or if you prefer, "embrace the suck") and enjoy it, Governor and Mayor.

An attempted suicide bomber who set off a rush-hour explosion at the nation's busiest bus terminal is a Bangladeshi national living in Brooklyn who was inspired by ISIS, law enforcement officials said.

...

Ullah lived in Brooklyn after he entered the U.S. in 2011 from Bangladesh on a chain migration visa, Department of Homeland Security Press Secretary Tyler Houlton said in a statement.

Good thing this particular terrorist was not very bright (as demonstrated by his inability to make a bomb that was actually effective and went off when he wanted it to, instead of exploding both poorly and early.)  That was a matter of luck, by the way -- luck that will eventually run out.

So, liberals, you support chain migration.

You support "open borders."

You decry and actually sue to stop government policies that would bar those who like to eat at the Aloha Snackbar from coming to America, including those who we cannot fully vet and those who come via chain migration.

The motives are unclear?

The motive sure looks clear to me and as far as I'm concerned if you live in locales while tolerating in your local and state political offices the "values" that allowed this person into the United States you deserve the easily-foreseeable and in fact forecast results that I and others have repeatedly predicted would logically flow from that decision.

Results that, I remind you, have also been demonstrated through multiple nations in Europe that embraced the same policies over the last number of years -- and got the same results.

Suck it up NYC; this is two in the last couple of months, remember?

You voluntarily bought the ticket, now enjoy the ride.

Until you change your views, expel the politicians and cut the crap I predict that what faces you is a very long and nasty ride indeed.

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