Oh Oh... (DeMint)
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-12-06 10:33
by Karl Denninger
in Editorial
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Oh Oh... (DeMint)
 

If you wanted a bell to ring at the "be prepared" point, it just did.

South Carolina U.S. Senator Jim DeMint will replace Ed Feulner as president of the Heritage Foundation. Mr. DeMint will leave his post as South Carolina's junior senator in early January to take control of the Washington think tank, which has an annual budget of about $80 million.

Sen. DeMint's departure means that South Carolina Governor Nikki Haley, a Republican, will name a successor, who will have to run in a special election in 2014. In that year, both Mr. DeMint's replacement and Sen. Lindsey Graham will be running for reelection in South Carolina.

Do not underestimate the meaning of this or its timing.

I know people will, and will try to look at this as simply a "move that will popularize conservative values."  You're wrong folks.

If you've followed Mr. DeMint over the years you know that he "gets it", and that when not on the floor he is rather blunt with his constituents and anyone else who cares to pay attention.

Sometimes a bell does ring at important inflection points.

This is, in my opinion, one of those times.

Expect a Tickercon change within the next two weeks.

Discussion below (registration required to post)
 

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User Info Oh Oh... (DeMint) in forum [Market-Ticker]
Docj
Posts: 998
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Duck & Cover
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He knows the bomb has already gone off and wants to get well beyond the blast radius before the shock wave hits.

Smart move.

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The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams
Wearedoomed
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1, or straight to nukular (to quote G-Dub)?

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And you, my father, there on the sad height,
Curse, bless me now with your fierce tears, I pray.
Do not go gentle into that good night.
Rage, rage against the dying of the light.
Hapablap21
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If you can't beat 'em, may as well take a cushy job and make a ****pot of money.
Genesis
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Hap: You're reading this wrong.

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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?
Rickysa
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wrong SC guy

Hapablap21
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I'm reading it as people who "get it" being forced out of power and into meaningless positions where their opinions and understanding of issues doesn't matter. What am I missing?
Genesis
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A lot.

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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?
Drench
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Quote:
Senator Jim DeMint (R-SC) will leave the U.S.Senate next year to become president of The Heritage Foundation, succeeding Edwin J. Feulner, the man who first envisioned the think tank in 1973 and has led it as president for the past 36 years.
http://blog.heritage.org/2012/12/06/jim-....

It is a rather important and probably long-term position.

Steelhead23
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Sorry to be dense but what kind of inflection point are you talking about? Are you suggesting that Mr. DeMint knows that some kind of event horizon is coming?

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For-profit commercial banks are a menace and should be eradicated
Hapablap21
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I read your blog and boards to get educated on all of this stuff. So, enlighten me please.
Snooze
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He's positioning himself to be better aligned for the coming ****storm. Better to be surrounded by your supporters rather than your enemies. Staying in the fight risks being caught in friendly fire when it all goes badly.

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Pika-steph
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There's only one thing that would make DeMint leave the Senate....well, two if you include being voted out...which in his case has never been remotely close.

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Turbodog
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I think what Karl is implying is that DeMint realizes in about a month the "people" will be very unhappy. And it would be prudent to distance himself from the individuals that will be held accountable by the "people".
Wearedoomed
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Hap:

http://en.wikipedia.org/wiki/Jim_DeMint

He's a member of several Senate committees related to commerce, banking and foreign policy. Those three things are pretty well ****ing tied together these days. I'm hoping (I'm not big on prayer these days) that the A-bombs won't be literal.

Oh, and people might get a rather nasty surprise in January when they're doing their 1040's: http://tickerforum.org/akcs-www?post=214....

----------
And you, my father, there on the sad height,
Curse, bless me now with your fierce tears, I pray.
Do not go gentle into that good night.
Rage, rage against the dying of the light.

Ampsucker
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or, for christ sakes, just spit it out already. who/what/why/where/when?

not all of us get sophisticated inuendo or have the time to try and figure it out based on hints and vague predictions.

if you have hidden information you want to share then write it in plain english, please.
Drench
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Folks, the big think tanks write most of the bills that get passed.

This is good.

Rln2433
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Virginia
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Is it a case that he's not willing to walk the sell out line that the Republican party is trending to? Or the fight is better engaged in from outside the Senate?
Wearedoomed
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Pika-steph wrote..
There's only one thing that would make DeMint leave the Senate
I'm gonna have to agree with Ampsucker on this one. DeMint hasn't been on my radar recently, so most of us can only guess what his motivations could possibly be. So, let's just get it out there, pretty please?

----------
And you, my father, there on the sad height,
Curse, bless me now with your fierce tears, I pray.
Do not go gentle into that good night.
Rage, rage against the dying of the light.
Ghopper
Posts: 2313
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Staten Island, NY
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Come January we will get the full Fiscal Cliff.

There will be a lot of blame to be handed out soon.

What happens after that could be ugly.
Rdgdawg
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WI... but no brats or cheese...
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So... there's still some "hope" out there? I as well am not all that sophisticated, so this is a positive thing??? I'll take anything positive for the future...

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Genesis
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It is not positive.

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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?
Fraudster
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I have to agree with others here. I don't follow DeMint, so I have no appreciation of what the significance of his retirement might mean.

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"Let China sleep, for when she wakes, she will shake the world." - Napoleon Bonaparte

"Circulation ceases first at the outer edges [Europe and Japan]. It will take a while yet for the decay to reach the heart [America]." - Foundation & Empire by Isaac Asimov
Rdgdawg
Posts: 165
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WI... but no brats or cheese...
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Ok... thx KD... after going back for re-read of the thread and with your post... I'm getting it... <sigh>...

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I work hard because millions on welfare depend on me!

Bagbalm
Posts: 4255
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Did he call for a basin and wash his hands while he was announcing this?
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