Fort Walton Tea Party Presentation in [Market-Ticker]

Posted 2012-11-14 11:40
by Karl Denninger
in Speeches

Fort Walton Tea Party Presentation

Apologies in advance for the video quality; the lighting was poor and the screen was more important than my visage, so here it is..... delivered this evening, with questions. About an hour and 15 minutes total; ~45 minutes of the presentation itself and about a half-hour of questions.

http://www.youtube.com/watch?v=NPyXK_eCZoo&feature=youtu.be

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User Info	Fort Walton Tea Party Presentation in forum [Market-Ticker]
Karefree Posts: 1700 Incept: 2008-10-15 Nor Cal	Just finished watching it in its entirety and you are on point, as usual. Nice job... but I would expect nothing less. =) K ---------- Matthew 6:21 "For where your treasure is, there your heart will be also" 2012-11-14 13:35:03 Permalink
Drkshapiro Posts: 628 Incept: 2012-09-12 Southern CA Online	Karl, to that group maybe you should have talked more about your lifestyle program. The reason the CA tax increase passed is because it was pushed as a tax on the rich--it doesn't increase taxes on anyone under 250k income. ---------- Honesty may be the best policy, but its important to remember that apparently, by elimination, dishonesty is the second-best policy. --G Carlin 2012-11-14 13:57:16 Permalink
Genesis Posts: 130678 Incept: 2007-06-26	Yeah well guess what -- it still horse***ed anyone who got caught by it. ---------- 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?* 2012-11-14 14:21:17 Permalink
Drkshapiro Posts: 628 Incept: 2012-09-12 Southern CA Online	I give this med brown bag thing in this semi-assisted community nearby in what they call the "Inland Empire" (a misnomer for most of it) and it's a similar crowd to what you had there, I'd guess, and next time I go up to do this talk I'm going to address the need to get physically strong since the medical system will get crushed by the weight of it's own elephantiasis. I think everybody should know that they have to get healthier because things are likely to fall apart for awhile. Preparing for the super storm. ---------- Honesty may be the best policy, but its important to remember that apparently, by elimination, dishonesty is the second-best policy. --G Carlin 2012-11-14 14:52:52 Permalink
Fletchjr Posts: 1525 Incept: 2007-07-26 Minnesota	Karl, it is not true that only employed people pay taxes. My retired in-laws gross around $70K with about half coming from SS. They pay some income tax as well as their property taxes, which are not insignificant. 2012-11-14 15:02:17 Permalink
Genesis Posts: 130678 Incept: 2007-06-26	Property tax doesn't go to the Feds and income tax, while due on SS, is almost always zeroed unless you have other income (in which case you are "working" whether your income is from W2 effort, 1099 effort or investments -- you're still working.) ---------- 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?* 2012-11-14 15:03:45 Permalink
Fletchjr Posts: 1525 Incept: 2007-07-26 Minnesota	Good points, but they would not register as being employed, would they? 2012-11-14 15:09:07 Permalink
Briar Posts: 5371 Incept: 2008-02-07 Palm Springs, CA	I'm about half-finished reading "FDR" by Jean Edward Smith. I just finished the part where FDR talked about preparing the Social Security program so that it couldn't be taken back. I don't have the book handy so I don't have the exact language, but he said something about designing it so it is paid for by the employees and employers specifically so it can't be eliminated legally (because it's a benefit that's been paid for and is not government money). He said he didn't want any politician coming along later and playing politics with his program. I wonder what he would be thinking about all this. ---------- Religion is what keeps the poor from murdering the rich. Napoleon 2012-11-14 15:23:18 Permalink
Veedubforlife Posts: 40 Incept: 2011-08-19 United States	Gen: when you got into that argument with the guy over inflation (he was talking about inflating away the debt) what was the guy trying to say? I couldn't quite hear him. 2012-11-14 16:42:04 Permalink
Genesis Posts: 130678 Incept: 2007-06-26	That it would work ---------- 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?* 2012-11-14 16:42:43 From PDA Permalink
Veedubforlife Posts: 40 Incept: 2011-08-19 United States	And this guy being at a Tea Party meeting? What, was he a plant to remind everyone that inflation is a bad idea, or does the Tea Party not have a clue yet? 2012-11-14 18:05:23 Permalink
Genesis Posts: 130678 Incept: 2007-06-26	Oh hell, who knows. ---------- 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?* 2012-11-14 18:25:31 Permalink
Sean Posts: 1765 Incept: 2009-04-21	Good presentation Karl. Thanks for recording it. Still have the Q&A to listen to but gotta go do my cardio now. ---------- * I think Ann Barnhardt is more and more right. God help us! * Progressives / Marxists / Communists are many things, STUPID and IMPATIENT are not two of them. * A hot civil war is coming. * And people wonder why I prep! Last modified: 2012-11-14 18:31:29 by sean 2012-11-14 18:28:22 Permalink
Grunwald Posts: 253 Incept: 2012-06-01 Seattle	I think that the talk about inflation as the anwser is just misunderstanding. I am in the camp that thinks that inflations is coming, but I do not believe that it will solve the budgetary problems. What it will do is cut down a lot of the debt (not deficit) but at the same time wipe out savings. It will also cut down wages, however it is unknown if that will be temporary or permanent. What is most likely to occur is those who are retired are going to be screwed. Last modified: 2012-11-14 18:48:44 by grunwald 2012-11-14 18:47:31 From PDA Permalink
Sean Posts: 1765 Incept: 2009-04-21	Quote: What is most likely to occur is those who are retired are going to be screwed. What is most likely to occur is those who ~~are retired~~ have a limited number of US $'s are going to be screwed. In that situation what WILL occur is the pitchforks and boiled rope will come out when the lower 2/3rd's(wealth wise) literally cannot afford food for their or their kids bellies or gas for the car to get to a job that they will most likely not have - well at least they will not have to drive work every day (ha ha /sarc off on that point) or paying the monthly rent to the landlord or the bank. ---------- * I think Ann Barnhardt is more and more right. God help us! * Progressives / Marxists / Communists are many things, STUPID and IMPATIENT are not two of them. * A hot civil war is coming. * And people wonder why I prep! Last modified: 2012-11-14 20:02:04 by sean 2012-11-14 20:00:46 Permalink
Bagbalm Posts: 4248 Incept: 2009-03-19 Just North of Detroit Online	Sean says - "boiled rope will come out" Folks have no idea where to buy rope or handle it now. We'll have to use extension cords. 2012-11-14 21:44:12 Permalink
Dewasw Posts: 6 Incept: 2008-11-28 Miami, Florida	Karl........Honest talk for more than an hour and on many subjects. You're the only one on the internet that can and will do it for free....well done 2012-11-14 23:04:33 Permalink
Goforbroke Posts: 5333 Incept: 2007-11-30 Just call me 'Comrade'	Quote: Focus your energy on where you think you can move the needle. Yup. ---------- We have met the enemy and it is us. -- Pogo 2012-11-15 08:05:44 Permalink
Goforbroke Posts: 5333 Incept: 2007-11-30 Just call me 'Comrade'	Listened/watched it. Very well done. ---------- We have met the enemy and it is us. -- Pogo 2012-11-15 09:07:28 Permalink
Robw Posts: 837 Incept: 2007-08-10 Southern California	Just got to watching this. Great work Karl. I will spread this one around. One point I didn't quite get is selling assets and banking capital losses now. Banking capital gains now at lower tax rates makes sense, but all of the scenarios that I can think of turns out to be a wash on selling taxable assets for a loss now versus later. What am I missing? ---------- The laws of mathematics are not suggestions. - K.D. 2012-12-07 00:23:41 Permalink
Genesis Posts: 130678 Incept: 2007-06-26	It's a gamble of sorts; you don't know what tax policy will be in the future. You could lose the loss offset in the future. Banked losses are unlikely to be disallowed but the ability to bank them in the future may be disallowed. It's an arbitrage game in that you're trying to reduce the risk of unknown changes (just as you are with taking gains) but the scope is narrower for losses (just not zero.) It's not nearly as clear as is taking a gain this year, of course... but high-income folks have deductibility and carry forward status to worry about as much as they do rates. ---------- 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?* 2012-12-07 06:23:48 Permalink

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