Romney Embraces His Inner (And Outer) Crook
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-04-17 07:49
by Karl Denninger
in Editorial
Ignore this thread
Romney Embraces His Inner (And Outer) Crook
 

First we have Romney and his hatred of the Second Amendment, along with the NRA's duplicity.  For those who are unaware, Mitt(ens) Romney appeared Friday at the NRA's annual meeting and committed the pilferage, er, pilgrimage that is expected of Republican candidates, claiming to be (of course) a strong supporter of the Second Amendment.

The NRA was oddly silent about Mittens' record in this regard, cementing their record as an organization that lies through its teeth and unfortunately has destroyed its own legacy:

Dateline July 8th, 2004:

Governor Mitt Romney has signed into law a permanent assault weapons ban that he says will make it harder for criminals to get their hands on these guns. "

"Deadly assault weapons have no place in Massachusetts,"¯ Romney said, at a bill signing ceremony on July 1 with legislators, sportsmen's groups and gun safety advocates.  "These guns are not made for recreation or self-defense.  They are instruments of destruction with the sole purpose of hunting down and killing people."

The NRA endorses this crap and embraces Romney?!

President Obama has done less, in point of fact, to harm 2nd Amendment Rights than Mittens!

But Mittens hasn't stopped there.  Oh no, he has embraced Mankiw as one of his chief economic advisers -- a man who literally had students walk out of one of his lectures in disgust at his embrace of economic frauds!

I have often emphasized the importance of George Akerlof and Paul Romer’s 1993 article (“Looting: the Economic Underworld of Bankruptcy for Profit”) to understand the economics of why we suffer epidemics of accounting control fraud and recurrent, intensifying financial crises.  Mankiw was the “discussant” when they formally presented their paper.  I was also present at their invitation.  Mankiw was unconcerned about looting.  It was my first introduction to Mankiw morality:  “it would be irrational for savings and loans [CEOs] not to loot.”  I was appalled, but my outrage at Mankiw paled when I observed that the members of the audience, professional economists, were not even made visibly uncomfortable by such a depraved response to elite fraud.  CEOs owe fiduciary duties to the shareholders.  Mankiw’s response to the findings that CEOs were looting their shareholders was to praise the rationality of the fraudulent CEOs (if you don’t loot you aren’t moral – you’re insane).  One cannot compete with theoclassical economists’ unintentional self-parody. -- Bill Black

There are plenty of people who disagree with Bill Black's politics but this is not about politics.  It is about crime, specifically financial crime, and the explicit support and cover that this crime finds among certain members of the political class.

Looting by financial elites is destroying this nation.  It will, if not stopped, eventually result in the collapse of both our government and economy.  It must be stopped because fraud feeds on fraud and as time goes on the magnitude of the frauds imposed on society must increase in order to cover the previous frauds and insure that the loss-making that is inherent in that process does not come back to haunt the people engaged in it.

Romney, in too many ways to count, is either indistinguishable from Obama or actually worse.  And this, my friends, is coming from the perspective of a fiscal conservative and constitutional absolutist.

That the Republican party is choosing to run this member of the "steal anything that isn't nailed down" crowd tells you everything you need to know about the depravity of our current political system and two "mainstream" political parties.

Discussion below (registration required to post)
 

Main Navigation
Full-Text Search & Archives
Archive Access
Get Adobe Flash player





Blogtalk 3:30 CT Mondays
Items To Look At


Discuss The Capital Markets along with daily technical analysis with our Gold Donor program.

Where We Are, Where We're Heading (2013) - The annual 2013 Ticker

Links and Blogroll
Our policy on reciprocal links: Send us an email with your information and why you think your blog or news site would make a good addition - in most cases reciprocal link requests will be granted.
Seeking Alpha Certified
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.

Looking for "The Best of Market Ticker"? Check out
Ticker Classics.

Visit the forum to discuss this and other investing-related topics; see the FAQ on the forum for information about Gold Donor status including access to our technical analysis video server.

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.

Market Ticker content may be reproduced or excerpted online provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media.

Submissions 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.

Leads on stories of current economic and political interest are always welcome. Our fax tip line is 850-897-9364; please include contact information with your transmission.

 
Comments.......
User: Not logged on
Login Register Top Blog Top Blog Topics FAQ
Showing Page 1 of 5  First12345Last
User Info Romney Embraces His Inner (And Outer) Crook in forum [Market-Ticker]
Striker754
Posts: 671
Incept: 2009-07-09

Report This As A Bad Post Add To Your Ignored User List
The NRA has never been for ALL gun owners rights. Anything that is not a hunting rifle or concealed handgun they will throw under the bus.
Crzymorse
Posts: 1188
Incept: 2010-06-25

Maryland
Report This As A Bad Post Add To Your Ignored User List
I think I'll pick Obama again, at least the congress and executive branch are split then.
Bertdilbert
Posts: 2655
Incept: 2008-12-22
Gold
CA
Report This As A Bad Post Add To Your Ignored User List
Romney could prove to be worse than Obama. We seem to be on a downward spiral of political choices. Romney having a better understanding of money, will probably be the more successful looter.

----------
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.
Crzymorse
Posts: 1188
Incept: 2010-06-25

Maryland
Report This As A Bad Post Add To Your Ignored User List
Romney would actually pass a carbon tax.
Jonesapple10
Posts: 379
Incept: 2010-11-09
Green
Report This As A Bad Post Add To Your Ignored User List
I don't support being hit by a bus or by a train, but i know they both would suck.
Firefly76
Posts: 49
Incept: 2011-08-09
Green
Houston TX
Report This As A Bad Post Add To Your Ignored User List
Just hold on (what is it Obama calls us... oh yeah) folks see if you can ride out the crash and lets see what is on the other side.

Call me a pessimistic Ahole but I have little faith in the "majority" of Americans or the world for that matter. Just prep up and hopefully when all has crashed and we reboot smart(moral) people can take over and not some tyrant and the future may be better for it.
Andyc
Posts: 333
Incept: 2010-10-24


Banned
Report This As A Bad Post Add To Your Ignored User List
Crzy and Bert


Agree and agree


Obama, the incompetent we know is the way to go in 12!


I could definitely imagine Romney passing a carbon tax because that would create yet another multi trillion dollar nominal, multi hundred trillion notional market for these guys to skim and loot.


I see little hope for change in this coming election.
Tesla
Posts: 15541
Incept: 2008-04-03
Green A True American Patriot!
State of Disbelief
Report This As A Bad Post Add To Your Ignored User List
I'm not voting for either, because if you actually vote FOR one of them, you are adding to their "I have a mandate" bull****. Forget that. I'll write in Beelzebub instead.

----------
"Even a dog knows the difference between being stumbled over and being kicked." -Justice Oliver Wendell Holmes

"Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." -Samuel Adams
Ricka01
Posts: 1214
Incept: 2009-03-05
Gold A True American Patriot!
Report This As A Bad Post Add To Your Ignored User List
I'm seeing more talk on the internet about voting for the person who will bring down the country faster, just to get it over with, and (hopefully), move on to better things from there. All of this talk has referred to Obama as the one to get this kind of vote - maybe Romney would be better from this perspective.

Anti
Posts: 4287
Incept: 2007-10-09
Silver
Report This As A Bad Post Add To Your Ignored User List
I am going to write in Bill Still - if he is not the Libertarian nominee.

----------
Health is better than health insurance
http://gerson.org/
Over the past 60 years, thousands of people have used the Gerson Therapy to recover from so-called “incurable” diseases such as cancer, diabetes, heart disease and arthritis.
Eli
Posts: 7188
Incept: 2007-09-10
Silver
Report This As A Bad Post Add To Your Ignored User List
Yeah, with our two party system we are currently locked in a death spiral, we are run by a criminal elite.

Who would the ****s at Goldman be happy with?

----------
If you want a vision of the future, imagine a boot stamping on a human face - forever.
George Orwell

Aethor
Posts: 125
Incept: 2011-11-15
Green
Report This As A Bad Post Add To Your Ignored User List
Quote:
I'm seeing more talk on the internet about voting for the person who will bring down the country faster, just to get it over with, and (hopefully), move on to better things from there.


When the system goes down because the criminal elite sucked all the value out of it, it's them who will have money, power, hired bodyguards, land, houses, factories and most of everything.

What makes you think that they won't be those who will seize the power (in a more dictatorial way than they have it now) but that some as of yet unnamed, ethical and competent people will be on top?

The top 1% spend considerable time and effort pushing such (ethical and at the same time competent) people as far >>away<< from any chance at power as they possibly can.

Also, as long as the masses support those who give them illusions - the illusion of security, the illusion of free money - and not the responsible leaders, who force the people to also be responsible - you can reset the system a dozen times in a row, it will never become better than the average of the people it is made of.


Winstonsmith2009
Posts: 1060
Incept: 2009-08-05

Report This As A Bad Post Add To Your Ignored User List
"Deadly assault weapons have no place in Massachusetts," Romney said, at a bill signing ceremony on July 1 with legislators, sportsmen's groups and gun safety advocates. "These guns are not made for recreation or self-defense."

So, this widespread sport using "assault" weapons isn't recreational?

http://www.tucsonrifleclub.org/Tactical_....

And long-range marksmanship with "assault" weapons, accurately punching tiny holes into very distant targets isn't a sport or recreational?

On the "self-defense" bit, the intent of the 2nd Amendment isn't primarily about self-defense from other citizens, it's about self-defense against tyrannical government. Try doing that with a .22 revolver. Or, worse yet, a knife.

"Romney, in too many ways to count, is either indistinguishable from Obama or actually worse."

For most if not all of my life, the choices on election day among those who actually have a chance of winning: Oligarchy Front-man and Liar A or Oligarchy Front-man and Liar B. I don't play the voting game any more and will not validate any of them with my vote. Wanna' talk about "voting fraud," the entire system has devolved into one big sham.
Wis/min
Posts: 5362
Incept: 2009-08-14
Gold A True American Patriot!
On the border
Report This As A Bad Post Add To Your Ignored User List
No president of either party acts alone.

Let's not forget that.
Templar223
Posts: 779
Incept: 2008-04-28
Green
Champaign, IL
Report This As A Bad Post Add To Your Ignored User List
The NRA is getting behind the lesser of two evils.

Sure, Obama hasn't battered the 2nd Amendment too badly for those looking at it superficially.

In reality, he's cemented in two Supreme Court justices that will eagerly sign onto any decisions to reverse Heller and McDonald. He's also worked imposing gun control through administrative rule-making which isn't particularly obvious to anyone who isn't an enthusiast. Example: blocking importation of M1 Garand and M1 Carbine rifles... another: Shotgun importation restrictions. Want more: Mandated reporting of multiple long-gun purchases along border states.

Not enough? Another example: ATF moving to take control of 4473s in some states outside of statutory authority.

If Obama is re-elected, it is all but assured he'll seat two, maybe as many as four seats on the court (a lot of old birds on the bench right now). With those appointments, America's gun rights as we knew them will be but a distant memory.

And then there's all the other ramifications of four more years of this utter disaster.

John
Genesis
Posts: 130691
Incept: 2007-06-26
Admin A True American Patriot!
Report This As A Bad Post Add To Your Ignored User List
If get only half the dick being rammed in my ass I was still raped.

----------
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?
Wis/min
Posts: 5362
Incept: 2009-08-14
Gold A True American Patriot!
On the border
Report This As A Bad Post Add To Your Ignored User List
Templar, yep
Lumpeninvestor
Posts: 2339
Incept: 2007-10-16
Gold
98072, USSA
Report This As A Bad Post Add To Your Ignored User List
Time to review slides 20 and 21 again.... http://www.energybulletin.net/node/23259

----------
Distributing insolvency only destroys the last remaining islands of solvency in a bankrupt world. - Charles Hugh Smith 8/23/2012
Mortgageguymn
Posts: 1562
Incept: 2009-03-09
Green
North Coast
Report This As A Bad Post Add To Your Ignored User List
We're sitting here on pins & needles waiting to find out if we still have 5 justices who will maintain some limit to the powers of the federal government and some people are willing to acquiesce to the reelection of Mr. Fake Birth Certificate who will nominate the justices who will end the federal government being one of limited & enumerated powers? **** that. I didn't vote for a major party last time. I wrote in my candidate. But I'm not being led down that primrose path again. We need this ****er out before he installs an entire judiciate for whom the constitution is a mere annoying anachronism. Fiscal imbalances and crony capitalism can be survived - no matter how terrible the turmoil. Constitutional checks & balances matter more. Romney may nominate a Souter, but we KNOW Obama will nominate more Sotomayors.
Genesis
Posts: 130691
Incept: 2007-06-26
Admin A True American Patriot!
Report This As A Bad Post Add To Your Ignored User List
Remember that Romney is FOR weapons bans. He SIGNED the law folks.

You think he will nominate someone who actually believes the Second Amendment means what it says? From where do you get that idea given that he*****ED ON IT as Governor?

----------
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?
Wis/min
Posts: 5362
Incept: 2009-08-14
Gold A True American Patriot!
On the border
Report This As A Bad Post Add To Your Ignored User List
Romney may be for gun bans but getting a nominee past a sufficiently pro 2nd amendment majority would be tough.

IMHO Electing Obama almost assures more loss of 2nd amendment protections.
Genesis
Posts: 130691
Incept: 2007-06-26
Admin A True American Patriot!
Report This As A Bad Post Add To Your Ignored User List
That's an argument for electing people to the SENATE, not the White House.

Romney will nominate just as many anti-Second Amendment judges as will Obama (that is, ALL OF THEM) under your rubric. In fact, he's MORE likely to do so, again, given his DOCUMENTED record.

----------
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?
Wis/min
Posts: 5362
Incept: 2009-08-14
Gold A True American Patriot!
On the border
Report This As A Bad Post Add To Your Ignored User List
Coatails Gen.

Genesis
Posts: 130691
Incept: 2007-06-26
Admin A True American Patriot!
Report This As A Bad Post Add To Your Ignored User List
Go ahead and vote for a guy who HAS a record banning guns.

Obama is many things but you can't document a record of him ACTUALLY banning guns. You CAN in Romney's case.

----------
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?
Login Register Top Blog Top Blog Topics FAQ
Showing Page 1 of 5  First12345Last