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2019-11-15 10:12 by Karl Denninger
in Podcasts , 112 references
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2019-11-15 08:44 by Karl Denninger
in Federal Government , 130 references
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Since by Taaarrump's standards there's only one thing that matters, why, everything is fine.

Uh huh.

Nobody cares that the reason the market is going up is the $206 billion in fake "money" that the Federal Government has "injected" into the "economy" since October 1st!

That's roughly five percent of all federal spending -- in roughly six weeks, and not one penny of it has been paid in via taxes.

Ron Paul used to scream "audit The Fed!" on a near-daily basis.  The fact is that The Fed which should be audited is The Federal Government, not The Federal Reserve.

There is exactly one place all of this comes from: Congress.  By the Constitution all spending bills must originate in The House.  This sort of outrageous deficit spending for a while, and in fact quite a while, does indeed lift asset prices.

The problem is that it lifts debt service requirements on a permanent basis which is why Trump is now screaming about lower and lower rates.  That, however, simply forces people to borrow even more -- while it looks like the economy is doing very well the facts are something else entirely: Net of encumbrances, including debt, you're getting screwed.

This sort of nonsense is exactly what led to the blow-up in 2008.  We're now doing it at a scale that makes the 2005-2007 period look like a Girl Scout cookie sale.  We will not get away with it and there is no realistic means to exit from these policies either.

How long do we have?  Best bet is by 2024, simply because by that time Medicare and Medicaid will eat the federal budget.  The bad news is that markets always front-run the "death date" by some unknowable amount of time -- so the odds that we actually make it to 2024 before everything goes to Hell is very low.

Enjoy the blow-off, but beware the blow-up.

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2019-11-14 11:30 by Karl Denninger
in Flash , 419 references
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After Clinton's attempt to hide one tiny blue cum-stained dress, which was a failure by the way and the reason that impeachment was able to move forward in the House when he was President (without physical evidence nobody would have believed it, but oops -- there was physical evidence!) it should have been obvious to everyone that if you get caught with your hand in the cookie jar, and especially when wire transfers are involved, which are both irrefutable and unable to be altered as nobody ever lets you get away with forging a bank statement the Democrats appear to have indeed attempted exactly that with their impeachment gambit.

Specifically, the Ukraine government has "leaked" (ha ha ha) documents that implicate not only Hunter Biden but members of John Kerry's family in the receipt of millions -- right at or about the time that Joe Biden threatened to pull a billion dollars in funding unless the prosecutor investigating Burisma was fired.

Now that's not "statecraft", since the issue there was not a function of a trade of one government policy or benefit for another.  That would be legitimate, but that's not what was in play here; this was a looting operation, as has been going on for a very long time in the Ukraine, and the beneficiaries and those hired in an attempt to deflect the investigation were all private American citizens with connections to powerful politicians and State Department members.

That is corruption folks.

This was always my assumption in terms of what was really going on with Biden and friends at Burisma, of course, as I've repeatedly stated.  But now there's what appear to be hard documentary proof that not just Hunter Biden but John Kerry's family and Kerry himself were involved.

Let's be clear: Assuming these documents are real, and it appears they are, they implicate the entire Obama Senior level of the former Administration including the Vice President himself and, likely, President Obama himself in a corrupt scheme to enrich specific US individuals including but not limited to at least some of the principals!

This violates so many laws I can't even begin to list them and wildly exceeds any corruption that has been uncovered in previous administrations, including that of President Nixon.

Indeed at minimum this activity likely implicates FCPA as well as money-laundering statutes, both of which are serious felonies.  Never mind that there's a formal treaty with Ukraine requiring extradition between our nations for criminal acts, so whatever crimes were committed in Ukraine by these individuals in this scheme, if any (and I bet there were) the parties could be forcibly extradited there to stand trial up to and including President Obama himself.

This is why the Democrats have their hair on fire trying to bury the lede.  The latest is that they're claiming the Ukrainian sources are "lying."  Well, the Ukrainian sources may be lying about this or that but wire transfer records are truth.  No bank will ever let you get away with forging a bank statement since if they do they eat the money that was allegedly there but really isn't, or the other end does!

If you're a Democrat or Republican and let this go by without being run to the ground and everyone found involved prosecuted to the fullest extent of the law you deserve exactly nothing other than a prison cell -- or noose -- yourself.

Yes, that includes our current President and all members of both Congress and Federal Law Enforcement.

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2019-11-14 09:48 by Karl Denninger
in Editorial , 161 references
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Well, the specific statement may be true -- but it's also irrelevant.

"That’s what people need to understand. I’m not committing the murders. The police commissioner is not committing it. The council is not committing it. So how can you fault leadership?" he questioned. "You know this has been five years of 300-plus murders, and I don’t see it as a lack of leadership.”

Right.

It's not the culture you embrace, tolerate and want more of that's responsible, right?

Just like it's not in the DR?

A former Michigan elementary school teacher on Tuesday was found bound, gagged and strangled to death in her apartment in the Dominican Republic, according to local media reports.

...

"I can't imagine what kind of monster could do something like that to such a kind soul," Adrianne Machina, Anton's cousin, told WPVN-TV of Traverse City, Mich.

Sure you can.

You just don't want to.

The FBI's UCR report tells you quite a lot, if you bother to read it.  I read them when they come out.  They're unwavering in the facts -- and that's all they present, facts.

The facts are that culture matters, and not a little either.  When you have specific demographic and cultural groups that commit murders at a rate ten times that of others, that rate is spread across decades of time and nations on a repeated, clear basis, it's not an accident nor an aberration.  It's a fact and then the question becomes what, if anything, are you going to do about it?

There are those who have the culture of reason, a modicum of respect and by the way, that culture has produced virtually every advancement in technology and quality of life we all enjoy.

Yet the grievance industry wants "reparations" while in fact on a demographic basis they're a bunch of murderous thugs?

We can talk about that when there is some meaningful representation among said culture in the invention of electric power, refrigeration, vaccinations, running water, flush toilets, the Internet, computers, cars and all other manner of machinery.  Or said cultural groups could disavow all of the benefits of same both now and forevermore into the future.  You see, the factual record is that instead of being over-represented by members of said culture who invent electric lights, means of harnessing energy, cars, steamships, skyscrapers, MRIs, televisions, air conditioners and refrigerators their over-representation comes in the form of committing assaults, rapes and murders.

Until that changes the grievance industry can bite me -- if, that is, if it can be bothered to stop being either lootie or shootie long enough to actually go invent something that makes the world a better place.

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2019-11-14 09:43 by Karl Denninger
in Podcasts , 86 references
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