From The Casey Research Summit
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-11-07 13:04
by Karl Denninger
in Interviews
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From The Casey Research Summit
 

http://www.youtube.com/watch?v=vyUSvy4LUZk

Casey has decided to release this; here you go -- from The Casey Summit a couple of months ago.

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Drkshapiro
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I was there! Louis James interviews are great. You were one of the meeting highlights. Not to mention a nice place to visit, great food, great company. If you don't mind the backdrop in all the talks that we are in the midst of empire collapse.

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Honesty may be the best policy, but it’s important to remember that apparently, by elimination, dishonesty is the second-best policy. --G Carlin
Captbill
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Awesome video. It is a MUST WATCH.

Thanks for posting--

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Incredible. There's Smith and he's standing there and he's got the iceberg warning in his ****ing hand, excuse me, his hand, and he's ordering more speed. Lewis Bodine, RMS Titanic
Chris
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I was there also! Even got to have dinner with Karl which was a highlight of the Casey Summit. Karl does look good with that 50 pounds off. We all have to stay in shape because Obama care is not going to work. Karl posted this some time ago & it's what we have to expect for quality, fast medical care in the not too distant future.

www.surgerycenterok.com

Chris

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chris
Gamma
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1: I'm not sure I get the thought connection about "being able to afford taking a job".

2: I'm on board with the thorium deal, but as I suggested some months ago, while there is indeed thorium that one can and will get out of a coal stream intended for a liquid fuel plant (eg; to burn or otherwise process) and it would be great for all concerned to extract that thorium (and plenty of other crap) from the coal, it would not only be insufficient for reactor use, but it would also bend the cost of the coal upwards. Probably considerably. That doesn't negate the idea, I am just saying that if you want to mine Th, you go get it out the place where it is known to exist in mass qtys, not in trace qtys.

3: Congrats on the new tie! 'Bout f**ing time!

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This stuff we're going through, this is nothing compared to the Middle Ages.
They told me if I voted for John McCain, an idiot would be a heartbeat away from the presidency. Sure enough...
Genesis
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1. If you're on "benefits" and the job pays less all-in (e.g. medical, etc) then you can't AFFORD to take the job. Realize that being employed comes with costs (e.g. commute, wardrobe, etc) that are not there if you aren't. The total income ex-tax has to make your position in life net positive or you don't do it.

2. The point is simply that there is 13x as much energy in the coal as you can get from burning it when one accounts for the thorium. It is crazy to throw it away into an ash pile, which is what we do now.

3. LOL

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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?
Acebarefoot
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Wow. This was an extremely well done interview. You have improved substantially over the last few years in your interviews and public speaking. I think your ease about the subject and delivery allows the information and facts you speak of to be absorbed much more easily.

Rdaniels
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One smart dude. And Karl was good also. Everything Karl discussed referenced what is unsustainable. The 800 lb gorilla is the bond market. One day it will happen; whenever the UST borrows, interest rates go up and whenever the Fed prints, interest rates go up. When the FSA checks stop, our cities will be burnt to the ground.

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I wouldn't be so pessimistic if it wasn't so hopeless.

Gamma
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There's much to be pondered on the first point...some it harsh reality(ies). And no doubt 0bamacare will screw with these numbers in ways hard to calculate. For example, as an individual, you may have to pay let's say $700 a month for medical insurance. Assuming you are one who thinks that med ins is a necessity, you're going to have to earn let's say $1000 pre-tax. If you earn $15 an hour, that's 66.6 hours a month you have to work for your med ins. In a nominal 172 hours a month (4.3 weeks) that's almost 39% of your monthly labor required to pay for med ins. However, if your employer pays for med ins (and we both know that it is you that effectively pays for it) and reduces your salary by $3/hour, then you are possibly getting a good deal as you're only paying $516 ($172 x 3) on a gross basis.

But your point is well taken.

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This stuff we're going through, this is nothing compared to the Middle Ages.
They told me if I voted for John McCain, an idiot would be a heartbeat away from the presidency. Sure enough...
Steelhead23
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I liked the quiet studious approach - the glasses add to your gravitas. I have noted that when on panels of multiple speakers you tend toward rebuttal and drift off your premise. I too believe this was your best interview performance eva!smiley

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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
Ribbit
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That was a very nice interview to listen to Karl. Easy for people to grasp.

Gamma: "1: I'm not sure I get the thought connection about "being able to afford taking a job".

I came across a very good example a few years back, when I went to visit my gunsmith friend at his shop in a very upmarket rural market town.

When I walked around the place looking for somewhere to get a lunch takeout for us both, I was surprised to see literally every shop, cafe, retail premises, commercial office, estate agents, whatever, had job signs in their windows, asking for shop workers, waiters, barmen, secretaries, you name it.

It was so expensive to live not just in that market town, but also within affordable commuting distance of that town, that the offered wages simply couldn't cover it.

In addition, overheads have become crippling, not just for employees, but for employers too. Local taxes, expensive to comply with regulations (mostly useless regulations that are really used to kill competition), energy prices, etc., had hit the wall.

Without being able to get essential staff, and with all the mounting problems of actually trying to run a business and make a profit, is why small business closures have dramatically accelerated, in the few short years since, in rural communities all across the Country.

From what I saw in Europe last year, this is happening all over too.

I think we actually went over the cliff about 2 years go, but we are still running on the spot like Wile E Coyote. This is one hell of a deep canyon we are falling into, imho. :-(

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If the State was a Nanny, it would have been fired for incompetence, unreliability, and having its hands in the till, a very long time ago now.

Elcope
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Montana
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Karl, just want to let you know that you look great since you started your PT / diet plan. Keep it up.

Gamma
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That's Karl's "finally got a CMG borrow" tie.

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This stuff we're going through, this is nothing compared to the Middle Ages.
They told me if I voted for John McCain, an idiot would be a heartbeat away from the presidency. Sure enough...
Medicdan
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Great video Karl. I shared it with everyone I know.

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Arizona & desert gardening
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Ponzi_unit
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Thanks for posting!

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Taxpayers witnessed a crime and stayed around long enough to get charged with it.
Dewasw
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Miami, Florida
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Karl...Your understanding of all things related to finance and economics is most impressive. Very good presentation skills as well.
Duc888
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Fantastic. You look completely relaxed Karl. I've forwarded this to many friends.

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...burp
Bertdilbert
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Good interview, Seems that your outlook on PM's has moderated a bit over the years.

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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.
Genesis
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No.

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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?
Weekendtrader
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The US military is doing a take on the thorium thing. They are using excess power (because a number of carriers now have more power generation than power requirements) and use the excess power to convert hydrogen (from water) and dissolved CO2 (also in seawater).
Non-democratic entities (that don't have to be elected) like the military and China see what is going on and are acting accordingly.
http://science.dodlive.mil/2012/10/04/ca....
Rgds
WeekendTrader

Ben
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Good interview.

Suit, shirt & tie look good.

A quiet, understated demeanor suits your presentation of the very 'loud' facts you are revealing.

That camera angle, from your left, is very good for your face.

All in all another great step in the direction you are headed.

You will be ready, soon.

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"Why are you going to learn French?"
"Because I'm going to France," says Joe.
"I'm from the future. You should go to China."
Gweedo
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WeekendTrader... great link.
Jata1
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Hey Karl, that's a great interview. You have a very good presentation and deliver the message in a way most people can understand. Sent the link to a few friends
Ribbit
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Echoing Gweedo, that's indeed an excellent link WeekendTrader.

Many thanks, it will be put to good use. :-)

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If the State was a Nanny, it would have been fired for incompetence, unreliability, and having its hands in the till, a very long time ago now.
Judgesmales
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Las Vegas
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Gamma wrote..
That's Karl's "finally got a CMG borrow" tie.
OK, that made me laugh out loud.

Fantastic interview, Karl. Your demeanor and voice modulation have greatly improved. A++++ job.

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Don't forget: Panic is also an animal spirit, and it spreads much faster than optimism. Be careful what you wish for, Bernanke.
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