How Dumb Is The Tea Party?
The Market Ticker ® - Commentary on The Capital Markets
Posted 2011-06-06 08:39
by Karl Denninger
in Politics
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How Dumb Is The Tea Party?
 

C'mon folks, Sarah Palin?

One's hand over their heart does not make one a good candidate.  Oh sure, they all wax patriotic when the camera rolls.  But what is Palin's history as a Presidential candidate?

She has one, remember?  She ran as an equal part of John McCain's ticket.

And what did John McCain do?  After campaigning on "personal responsibility" and "capitalism" he suspended his campaign to return to Washington DC and stump for passage of TARP, which did not have sufficient votes in the Senate to pass at the time, and shepherded it through The Senate as the cornerstone of his campaign just a couple of weeks before the election.

Where was Sarah?  In full support of this action: She has not said one word negatively about Mr. McCain's acts in that regard, either during that time or since.

Now, three years into this, we have the facts to go with what Sarah Palin personally enabled, both at the time and since:

  • Banks took that money and remained in business.  We have since discovered that they have been foreclosing on people without any evidence that they hold the alleged debt in question.  A Fortune study pointed out what I have been asserted for four years: The banks do not own the paper in a majority of the cases.

  • The banks have NOT ceased the practices that got them in trouble.  Credit-default swaps and other derivatives are still traded over the counter.  There is no nightly mark to market.  In point of fact, Kanjorski (former Rep D-11, PA) codified the practice of marking "assets" to fantasy values which continues to this day.  There has been $9 trillion in market loss on residential real estate if you believe Zillow, but only $500 billion in removed debt from the Fed's Z1 in mortgages.  Where did the rest go?  While certainly some was lost equity, not all was.  The rest is being actively hidden, an act of intentional and legalized deceit that Palin and McCain actively supported in 2008 and continue to support today.

  • While she says The Fed has done "bad" things (in an oblique way) she has not committed to a zero inflation policy through enforcement of The Federal Reserve Act via something like reinstatement of the Coinage Act of 1792s sanctions for non-compliance.   And until and unless she does, she's not for "sound money."  All the arm-waving is of no value until and unless you hear something solid that can be reduced to an actual policy.  I haven't heard any such thing - have you?

  • There has been no recognition that the ponzi scheme of exponential "growth" has been a false God since 1983 under both Democrat and Republican administrations.  Until this is recognized, admitted to and dealt with we cannot fix what's wrong with the economy.  Chief among these facts are labor and environmental arbitrage.

  • She has refused to demand that every illegal immigrant go home.  Now.  We have some 8 million Americans who would like a job but can't find one.  We have some 20 million illegal invaders.  The math is obvious.  A "secure border" at some future date does not address the problem that is here and now.

  • She has no energy policy.  Sorry, "Drill drill drill" isn't an energy policy.  Petroleum is a dead end street.  Yes, we have to do it for now, but it's not an energy policy - period.  Nor is natural gas.  There are solutions but they're not found in sucking off the oil companies, which she's very, very good at.  They're found in paths like LFTRs (thorium salt reactors); high-temperature nuclear designs can be deployed that are much safer than the common water-cooled units we run today, they have process heat available, and with that process heat we can produce liquid hydrocarbons for transportation fuel from coal.  The result is an energy policy that is self-contained in our nation and which we can fuel for over one thousand years at today's consumption rates, and for roughly five hundred years given expected population growth.  That's a plan forward that will work.  "Drill drill drill" will not do anything except make the oil companies rich and you poor.

  • She has yet to put forward what her view of "Constitutional Government" is.  Get rid of the TSA?  Zero the Department of Education?  Zero Agriculture?  Eliminate the Nazi-style police state tactics such as those used on Guerrera in Arizona?  Sue Indiana for their violation of the Constitution under their State Supreme Court ruling?  I've heard nothing that speaks to original intent, Constitutional Government and individual liberty.  Zip, zero, nada.

Now maybe you can all overlook these facts.  After all, she's cute.  But I vote for policies, not euphoria.  I vote for expressed principles that have been reduced to acts, and in this case Palin has a major problem found in the acts of the other half of her ticket in 2008 - an act which led to over a million people losing their homes through questionable circumstances and an ongoing economic Depression that had its costs transferred to the taxpayers through bailouts and fraud.

Will Palin jail any of these jackasses?  If she will I certainly haven't heard her promise to do it.  In fact, all I've heard thus far, since 2008, constitutes support of those very jackals that destroyed the economy in the first place.

So tell me... exactly what policies has Sarah Palin espoused that you think would make things better?

I can't name one, and that's a problem.

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User Info How Dumb Is The Tea Party? in forum [Market-Ticker]
Digitlman
Posts: 335
Incept: 2011-03-04

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Plus, she's an idiot.

Paul Revere warned the British?

Are you kidding me? And she refuses to admit she was wrong.
Richard112360
Posts: 610
Incept: 2008-02-06

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It's going to take pitch forks and torches folks! There is simply no hope! Politicians of both stripes will always be liars and crooks. Until we get term limits enacted, for all politicians in this country, nothing will change IMHO.

smiley

Wis/min
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Gold A True American Patriot!
On the border
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Quote:
And she refuses to admit she was wrong.
No need to.

He did "warn" the British

http://www.americanrevolution.org/revere....
Dazedncornfused
Posts: 313
Incept: 2010-10-13
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>he suspended his campaign to return to Washington DC<
I remember that moment, vividly. I thought if he goes to DC to oppose this, he's president, campaign over. The country was virulently against that bail out and give away. Instead, McCain showed his true colors and his campaign was over that weekend. We found out what kind of man he was.

As for those who think Palin is the next Reagan, consider this. Reagan ran a large union, and very effectively. He governed California for a FULL two terms under heavy opposition. He darned near ran a sitting president off the ticket (Ford). He debated opposing Dems, and had radio and TV shorts on public policy. And he made a monkey out of Carter for sniping at his age in a debate.

"Before I refuse to take your questions, I have a prepared statement." I didn't like even half of what RR did, but I did like the fact he faced down the press with his smartass retorts. And he was an improvement over Carter.

Aside from her policies or lack of them, Palin just doesn't have the force of personality it takes to face down a hostile press. I think her role is just to worry the Republican leadership and candidates, and rake in the bucks.

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Stand up and be counted or line up and be numbered.
Bertdilbert
Posts: 2666
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How Dumb Is The Tea Party?.. Sarah Palin, need you say more?

Tea Party dream ticket Ron Paul/Palin Bwahahaha. That would keep you busy! Sarah can entertain us with stories of Paul Revere's Midnight ride.

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Dear Euroland: Relax, Germany has a plan for your money!

Political Capital Defined: We are out of money but will tax our citizens for whatever it takes to "SAVE" the Euro.
Krs
Posts: 688
Incept: 2009-05-07
Silver
Colleyville, Texas
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Go look at the video on you tube, I would post it here but not sure on the rules anymore. It will make you cringe. She passed as a Governor, not enough detail on whether she was that good at that job. After this I can't even look at her with a straight face.

"He who warned the British that they weren't gonna be taking away our arms by ringing those bells"

Embarrassing smiley

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Fog, smoke, and mirrors... perhaps those tin-foil-hat wearing digital dickweeds were on to something?
Tyler Durden on the Fed – Feb 28, 2013
Irishsamurai
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GA
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The next Reagan is Allen West ...

Yeah. Yeah. I know of his vote on the Patriot Act and defunding 1/10th of 1% of Obamacare. Once you realize there is no PERFECT candidate except for the ******* that greets you in the mirror every morning, you'll be a whole lot closer to finding the RIGHT candidate.

Sarah Palin is NOT the right candidate ... at all. Never was. She is very ignorant, even though she was right on the Revere statement. And she lacks the gravitas to fix the problems we face as a nation ...

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“Why is it the ship beats the waves when the waves are so many and the ship is one? The reason is that the ship has a purpose.” - Churchill
Genesis
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Allen West is close. If I recall correctly he has reconsidered on the Patriot Act.

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Wineaux
Posts: 533
Incept: 2009-03-23
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pure Liquid pleasure
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Palin is the perfect Guns, Gays, and God candidate. She feeds the hungry lions exactly the right portion of meat to satisfy their diet.

I personally think she has at most a single firing neuron and is dumber than a box of rocks. A classic example though of a money *****.

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What wine goes with unemployment?
Weef
Posts: 7
Incept: 2009-06-19
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What Palin said about Paul Revere was historically accurate according to local historians:

http://www.bostonherald.com/news/us_poli....

In fact, Revere's own account mentions it too. Where did you learn all of this is inaccurate?
Wis/min
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Quote:
In fact, Revere's own account mentions it too. Where did you learn all of this is inaccurate?
I posted Paul Revere's personal account of events in post 2 and no reaction.
Donethat
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You know things are bad in the US when the illegal immigrants are returning home voluntarily. First the construction and farm workers, now the landscapers. IT folk have been going back to the Asia.
Flappingeagle
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Incept: 2011-04-14

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Karl that was a very good synopsis of why I will not be voting for Palin and almost all of the other Republican candidates. I will abstain or write in your name before I will ever vote for another loser RINO.


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Here are my predictions for everyone to see:
S&P 500 at 320, DOW at 2200, Gold $300/oz, and Corn $2/bu.
"You can't build a house of cards on a shaking table." - Tony Johns
The January 2015 AMZN put at $130 (cost $4.25) will be a winner.
Halfbrite
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Gen, +1000. smiley

Flawed though she is ( you've tickered her negatives), she's actually still the class of the field - by far. (if she decides to run)

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"That which cannot continue, will not continue. Brace for impact!"
Donethat
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Gen, I thought there was about 20 Trillion in home values at the peak, and the 11 Trillion in mortgages was only borrowed by 2/3 of the home owners, about 57 million of them. I know the banks have dug a deep hole. Someone at the FRB should report on all those SIVs and derivatives.
The trouble is the banks and investment banks are better at digging holes for their customers than even themselves. The way the almighty banking industry was making 40 percent of US profits was selling crap securities to everyone.
Which to boggle the mind, say the US stock value is 8 Trillion give or take 2 years. What is the securities lending business doing borrowing 3 Trillion dollars? Well it isn't to lend it out to short sellers. It is to collateralize under the wrappers investments in crap securities that they have scammed the 3 Trillion dollar security lenders into owning just to jack their rate of return by 0.01 percent in return for an infinite increase in risk.
Samadams
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I'll echo Irishsamurai - there is NO perfect candidate, period. No, not even yourself, because we all change our minds on occasion, meaning that we are ALL imperfect.

The perfect is the enemy of the good. In my mind, getting rid of Obama is a top priority for MANY reasons. Among them is not merely his continuation of the bankster heist of the wealth of this country, but the further enabling of it. One could argue that in 2008, in the heat of the financial crisis, no one had enough facts to prosecute anyone...but 2 1/2 years later? BS, there should already be 10,000 people in the Graybar Hotel, and President Odumbo and AG Eric Hold-the-bankers'-dicks haven't done squat.

But that is ONE issue - or at least one series of related issues. There are others, folks, like the massively accelerated deficit spending, the massively enhanced TSA and generalized assault on our civil rights, there's Obama literally bowing down to foreign kings, there's not merely a lack of an energy policy but an active attempt to shut down our existing ability to drill for oil and gas on our own shores, there is pandering and payoffs to the unions on a scale literally never seen before, there's the business- and personal freedom-killing Obamacare, there are the outright lies and obfuscation regarding the circumstances of his birth, etc., etc., etc. This guy and his administration are an utter disaster...and SOMEONE has to replace him. No one yet in the Republican race is perfect...yet none of them would be even close to as bad as Obama has been (let alone how bad he'll be once he doesn't have to face the electorate again).

For every one of you above who have called Palin "an idiot" or something similar, where is your similar accusation against the utter jackass who thinks that we have 57 states? Come on - we live in an era of soundbites, of the media looking for one little slip from any recognized politician - people who are generally exhausted from days or weeks or months of campaigning. Just as none of their views and past actions are perfect, so are none of their statements. Which of YOU would like to have every single statement you've every made put under a microscope? Not me, I can tell you that.

Palin certainly isn't perfect, and I have serious concerns about her as a viable candidate to take on the Obama machine...and no, she's not Reagan in a dress (and Reagan, though my personal favorite since I became a voter in 1979, wasn't perfect either). But she'd damned sure make a better President than the current idiot. At least there'd be no doubt that she'd take a pro-American stance on foreign policy, no doubt that she'd do a lot to unshackle our businesses from destructive laws and regulations, no doubt that she'd try to repeal Obamacare and no doubt that she'd also open up drilling and at least allow for a reasoned debate on other forms of energy production such as LFTRs. Seems like a big f'ing improvement over the present, doesn't it? Perfect - nope, no one is. NO ONE! But, again, the perfect is the enemy of the good.
Walkinghorse
Posts: 3
Incept: 2011-04-25

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If one applies Mr. Denninger's standards, most of which I would support, there is *not one* politico who even approximately meets those criteria for acceptability. But anyone who thinks that there is a political solution to a situation that was created through politics while the electorate chose to slumber is too trusting by half. All that is left of this Republic is a target rich environment for demagogues and would-be dictators, Obama being exhibit A.

I have come to the conclusion that nothing will get the attention of the People short of hard experience and consequences. Of that we will have a wretched excess soon enough.

The measures that would walk this nation back from the brink are quite unthinkable for a political class that depends upon polls and the franchise being contingent on little more than having a pulse, excepting places where the dead continue to vote in large numbers. The franchise is one thing Mr. Denninger fails to mention, and we have far too many people who use their vote as a mechanism to augment their income or to indulge in magical thinking. So long as welfare of any kind exists in this nation, people who avail themselves of it should forfeit their voting rights. People who do not through explicit service, say two or more years in the military, demonstrate that they place the welfare of the nation above their own personal comfort, should not have any voting rights. The vote is a more lethal instrument than any small arm, and it should be wielded by people who understand that truth.
Viper
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Madison, WI
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I like Allen West. Nobody is perfect, but he's one the better ones out there. I doubt he runs for this election though. Hopefully he runs in 2016.
Susanjbear
Posts: 417
Incept: 2010-06-10
Gold
Salt Lake City, Utah
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Quote:
he suspended his campaign to return to Washington DC<
I remember that moment, vividly. I thought if he goes to DC to oppose this, he's president, campaign over. The country was virulently against that bail out and give away. Instead, McCain showed his true colors and his campaign was over that weekend. We found out what kind of man he was.


I remember that too (I was volunteering as a precinct leader for Ron Paul up to the primary) and vowed right then and there never to take Palin seriously.

Palin is yet another reason to not vote, or write in NONE OF THESE ASSCLOWNS. Holding your nose and voting the least of all evils doesn't work. I've been doing it for over 34 years.

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Susan
Genesis
Posts: 130798
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Quote:
One could argue that in 2008, in the heat of the financial crisis, no one had enough facts to prosecute anyone...

Bull****. Again: Governor Ridge directly told me that the entire thing was greed and fraud. In my ear, while having my picture taken with him.

In August of 2008.

He knew. McCain knew. His entire campaign knew. And he didn't give a ****.

Another gent in the same room with me compared the entire mess - openly by voice - to Abscam! Who was he? One of the people who investigated that scandal. I'll be nice to him and not name him, but I did get his card and vet his claim.

Didn't know eh? No proof eh? Like ****ing hell.

Look, I'm not voting for someone who intentionally ripped off half the population and refuses not only to repent, but admit she sinned! **** that.

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?

Halfbrite
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Walkinghorse: Well stated. smiley

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"That which cannot continue, will not continue. Brace for impact!"

Genesis
Posts: 130798
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Admin A True American Patriot!
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Quote:
The franchise is one thing Mr. Denninger fails to mention, and we have far too many people who use their vote as a mechanism to augment their income or to indulge in magical thinking.

I have repeatedly mentioned this. You're rather new around here, I see.

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Mannfm11
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Incept: 2009-02-28
Gold
DFW, Tx
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The candidate that gets elected and goes to Washington and ends all the wars will get my vote, in the next election, if they are Democrat or Republican. You need around 20% of the eligible vote to win as a third party in a Presidential year and 17% will get you close. The establishment leads us around by the nose with these debates, along with their estimate of who is the front runner and the seemingly amazing manner in which New Hampshire elects our candidates so many years. The end of wars is the first thing to do to start shrinking that money siphon called DC. All the dilution of our rights center around war.

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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
Tdaly
Posts: 619
Incept: 2009-03-02
Green A True American Patriot!
Lake Wylie SC
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Allen West voted no on the Patriot Act and for people liking Palin, I think its because they like how she goes after Obama in her speeches and has the media chasing her down while she gives them the finger. I haven't heard too much on people wanting her for President around here. People around here are RP fans or haven't made a decision yet. Just my take for my state.

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