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2018-11-06 09:45 by Karl Denninger
in Editorial , 195 references Ignore this thread
Winter Is Here; How Well-Prepared Are You?
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The most-important election...... eeeevaaaaahhhh!

How many times have you heard that?

Honestly -- I can't remember when I didn't hear that come an even-year November.

Nixon, Nixon is our man.... throw McGovern in the garbage can!

Yes, I remember that -- on the playground of my elementary school!

If your parents supported McGovern (nobody of that age was old enough to understand the difference) you were at risk of ostracism, harassment -- or an outright beating.  And no, the so-called teachers and keepers of the peace (otherwise known as "administrators") didn't give a **** about it if and when any of that happened.  Find me their graves so I can******on them as odds are high that they've preceded me as worm food.  I'll willingly take the disorderly conduct charge.

The fawning over Trump nauseates me.  Everyone screams jobs! and yet nobody pays attention to how bought.  The latter is much more important than the former.  Industry, innovation, productivity and actual balanced trade are how you make for durable job gains.  Printing up 6.2% of the economy in new Treasury Debt to produce a 3% GDP print is how you go bankrupt since at this point every dollar of new Treasury issuance actually has a negative return.  Trump did the latter and his taking "credit" for the outcome as somehow "good" is outright fraud.

I pointed this "coffin corner" problem out in Leverage -- in 2011.  It has bit every nation that has attempted this path as a means out of a recession -- or debt-bubble detonation.

Every.
Single.
Time.

Obama doubled the national debt on his watch.  Trump is now trying to do it again.  We thought we could get away with it by offshoring the inflation it would produce through so-called "free trade" (which was actually nothing more than a monetary experiment and anything but free) -- allowing China to steal anything not nailed down, half of what is, and then find ways to worm its way into what little remains of our innovation (e.g. fabs, such as with the recent Micron industrial espionage) and steal that as a sop to offshoring half our industrial base is idiotic.

Or is it?

Well, yes and no.  It's not stupid, it has been and is intentional.  The people in DC know good and damn well that if you actually reflected the doubling of the national debt back into the economy prices would have gone up by 50% and there would have been a revolution five years ago when half the nation was unable to eat.  The entirety of the Congress would literally have been food by now.

Look at places where you can't offshore -- health care, for one.  The monthly price of a reasonable "health policy" for a nominally healthy 50 year old guy has more than doubled in the last 10 years.  The sop is that this is due to "mandates", of course.  This is a lie; exactly how many dollars does mandatory ovarian cancer coverage cost the company writing a policy on a man?  Zero, since I have no ovaries.

Tell me again why the price of coverage for a single, 55 year old man who can run half-marathons, does not smoke and has no "pre-existing" conditions has a list price of $9,570.48 over the next year?  Again, tell me exactly what I get for my $10,000?  Are you really so ****ing stupid that you think the availability of a "tax credit" to reduce that cost to under $300 a year, which incidentally requires that I cut my income to about $20,000 a year in some way makes the price lower?  Of course it doesn't; not only does someone else get the bill but even worse the $100,000+ a year I could earn isn't earned and thus doesn't wind up being taxed -- intentionally and legally -- because I refuse to fork up 10% pretax of said income on something I don't need, don't use and directly supports monopolists committing felonies on a daily basis against myself and every other US Citizen.

Instead of taking on the real issue which is a health system that produces prices 500% above the market price, which is trivially demonstrable through comparing costs at places like The Surgery Center of Oklahoma, never mind the fact that they have an infection rate of 1/20th of an average hospital because they can't bill you for their mistakes, is something neither political party will do.  Instead we hear screeds about "pre-existing conditions" and "coverage" instead of cost.  Who needs such "coverage" if you can afford to pay cash?  Further, and more to the point, if you can't afford to pay cash what makes you think forcing someone else to pay will change the fundamental facts on cost when you are forced to pay for your neighbor's surgery and drugs at a monopolist-fueled 500% markup?

May I remind you that this behavior was made illegal more than 100 years ago, is a felony, and that the medical and insurance firms went to the Supreme Court twice more than 30 years ago claiming exemptions to said law and lost both times?  The binding precedent decided by the highest court in the land mandating that these ****faces be prosecuted and thrown in prison has existed for roughly four decades yet not one such indictment has been leveled against anyone in said industry since by a single state or federal prosecutor -- or their attorneys general.

Is it not obvious that if your neighbor can't pay the bill neither can you when it comes to your turn, so who's fooling who here?  Yet we have literally nobody talking about the cost issues and how to address them -- even the low hanging fruit like the hundreds of billions spent every year on diabetes drugs and treatment due to the explicit and voluntary actions of those with the condition, say much less simply enforcing the damned laws that have been on the books for over 100 years!

The people in power understand reality; there aren't enough cops and can't be enough cops.  There are too many guns, which is why the Democrats and Republicans are hell-bent on "red flag" laws, so-called "assault rifle" constraints and everything else.  Not that it matters in reality; nothing other than door-to-door confiscation that does not set off an immediate shooting revolt would tip the balance sufficiently for them to be able to put down real resistance.  Oh you can bet they'd try but when it becomes impossible to hire security because if the people decided to shoot them when the politicians hide behind said "security" it would be damned difficult to find willing replacements.  Even at a "one-for-one" ratio it's a losing game for the people in power, never mind that if that sort of crap starts commerce comes to a complete halt in seconds and so does tax revenue.

The cities -- including the enclaves of "power" -- would not survive a week under such a circumstance.  "Just in time" with all the means of production and processing outside of such cities, which is what we have today, makes commerce and free and open transportation without fear of being shot utterly necessary.  Something as simple as drinkable water relies on a steady supply of Chlorine Dioxide at the water pumping and supply plants, no matter where the original source comes from (wells, fresh-water bodies of various sorts or desal plants.)  Lose that essential chemical and you have water, but it's not potable without being boiled first.  Lose the power (also not generated inside the boundaries of said cities in the main) and you not only can't boil the water you can't flush the toilet without your neighbor experiencing your **** flooding his first-floor bathroom.  No functioning lift and sanitation stations make every building in such a city uninhabitable within hours.

Today PCR writes about the people needing to "rise in armed rebellion."

I don't think he's kidding, by the way.  I do disagree with his position that there are no other alternatives, however -- although the odds of the people deciding to take any of those alternatives, peaceful and lawful though they are do appear to be somewhere between long and zero.

Tonight we shall see if the dog whistle of self-destruction in the form of someone else will pay being run by the Socialists on the ballot, all of whom know damn well they can't possibly deliver what they're promising and are conning the people, will prevail.  Go look at the times Occasional Cortex has shown up on TV, been asked about funding her programs, and stammered -- unable to reply.  Look at Gillum -- same deal.  As soon as the question is "where are you going to get the money" the answer is a diversion or silence; never, ever once do they turn the discussion to how to actually address the cost problem by enforcing anti-trust law, by expelling illegal invaders and enforcing E-Verify on all employers so as to bring into balance wages and final product prices or any other actual, effective and possible steps.

I voted for Cthulu and Beelzebub as there was nobody on the ballot in Florida who spoke one word about any of the real, achievable and rational remedies to these issues.

**** 'em all.

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Posts: 336
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Good article. This may not be "the most important election of our lifetime", but it sure has been the most entertaining one of mine. Thank you President DT. You have my support.

I respect all those who vote NOTA. But I'm voting MAGA. I wholly concur with Robert J. Ringer who wrote: "It still baffles me why even the most moderate Republican or even an Independent or libertarian would vote for anyone who promises to raise taxes, increase business regulations, eliminate due process, welcome unlimited illegal aliens into the country, abolish ICE, implement socialism, and silence those who disagree with their radical policies and continue to label them racists, xenophobes, and purveyors of hate speech".


In other words: go ahead and NOT vote against Gillum and company, becuase the fairy butt-****s all begin once he and the Dirty Dems gets elected... You won't even be kissed first, just ****ed.
Themortgagedude
Posts: 10883
Incept: 2007-12-17

saint louis
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I don't think Cortez is smart enough to realize we can't pay for it.

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I think its time we ask ourselves if we still know the freedoms that our founding fathers intended for us. Ronald Reagan 1964
Tdurden
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Hard to call how this **** show ends up tonight. I think the stupid party might have a better chance of holding onto congress and the senate than is currently acknowledged. Polls are almost meaningless. I've hung up on 3 or 4 pollsters who called me this month. With all of the violence that is being encouraged if not outright threatened against republicans, why in the **** would I tell a total stranger on the phone how I plan to vote? I dumped what was left of my facebag account last month and I'll be abandoning my gmail account later this week. I'm actively minimizing my exposure and reliance on any of those cultural marxist big data companies.

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"I'd like to live just long enough to be there when they cut off your head and stick it on a pike as a warning to the next 10 generations that some favors come with too high of a price." -Vir Cotto Babylon 5
Tickerguy
Posts: 154882
Incept: 2007-06-26
A True American Patriot!
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The amusing part of this crap is that I have not gotten one text or spam call this election season.

What I have gotten is plenty of spam mail; I wonder if they have flagged my phone as a "lost cause" smiley

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Winding it down.
Don24mac
Posts: 140
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Cortez is probably like some in our town when we had a referendum for a new High School. There was this local news reporter who asked a person leaving the polls if she voted Yes. She stated in the affirmative and the reporter asked what she thought of the large increase in our property taxes that would result.

TAXES? she said with dismay... I thought the Government was paying for it. Doh smiley

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"..it does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds.." --Samuel Adams
Zappafan
Posts: 3132
Incept: 2007-11-30

Atlanta
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I'm just a few years younger that Karl, but remember vividly (maybe it was the summer of '74) hanging out at the school playground with my friends while making little arts and crafts rubber necklaces at a kids camp. One of the other kids showed me his "Nixon Sucks!" necklace he made, along with a peace sign. I think I went home and showed a similar one I made to my Mom & Dad, being about 7 at the time.

Having grown up and having to earn a living, today I voted largely to support local GOP candidates, though I have no real hope it will make any difference and refuse to do so out of blind tribal loyalty. Here in GA we have a complete nut-job running for Governor on the Dem side. The libertarian candidate was just about as bad, having a platform that at least identified the medical monopolies and cost gouging as the real problem, yet somehow they also support open borders and seem to not understand that the Constitution is there to restrain government, not protect illegal invaders. Sorry, cannot vote for you Mr. Metz.

I guess having a few more years of relative sanity from our state government was more important to me than voting for "Beezelbub" or Vlad the impaler. Though I did vote down all the superfluous constitutional amendments guaranteed to benefit some special interest, at the expense of the people.

At least we lost out on the Amazon HQ2 derby here, so that means we won't have another 25K hipster douches moving into town, jacking up housing prices and adding to the traffic nightmare that is Atlanta. Good luck with that, DC and Long Island City.


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"Americans like to talk about (or be told about) Democracy but, when put to the test, usually find it to be an inconvenience. We have opted instead for an authoritarian system disguised as a Democracy. We pay through the nose for an enormous gvrnment, let it push us around, and then wonder how all those .. got there"
Petersteele
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"Occasional Cortex"..... love it !!!! huge props to whoever came up with that gem !!
Ckaminski
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Quote:
Cortez is probably like some in our town when we had a referendum for a new High School. There was this local news reporter who asked a person leaving the polls if she voted Yes. She stated in the affirmative and the reporter asked what she thought of the large increase in our property taxes that would result.

TAXES? she said with dismay... I thought the Government was paying for it. Doh smiley


My favorite was a 2.5% over-ride four or 5 years ago, for sports teams and some full time ambo/paramedic guys for the fire department. As I was leaving a whole bunch of kids and a teacher were standing in the exit driveway asking if I voted. I said yes I did. They asked me if I supported the measure. I said no. When they asked why not, I told them I wanted their parents to have a few extra hundred dollars to put Christmas presents under the tree for them.

If looks could kill the cat butt face the teacher was sending me would have melted me AND my car, and all the kids were just looking at me wide eyed in astonishment. I like to think i opened up at least one mind to the neverending popoganda.
Jack_crabb
Posts: 5574
Incept: 2010-06-25

Peoples' Republik of Maryland
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Yeah, if the crazy, idiotic leftists known as Democrats win, the **** show starts in earnest. But realistically, how are the less-crazy, slightly-not-as-idiotic Republicans really any better?

I mean, these are the ball-less hacks that voted to repeal ObamaCare when it meant nothing, but as soon as they had all 3 branches they pussied out.

**** 'em all with Karl's rusty chainsaw.

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Molon Labe
Where is Henry Bowman when you need him?
How many are willing to pledge this? We mutually pledge to each other our Lives, our Fortunes, and our Sacred Honor
Quik49
Posts: 5181
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Online
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Well around here they have a gas tax on the ballot to provide for education...signs all over the place "its for the children"... f that, i send the kid to a private school and that frees up enough dough...quit building monunments to the administrators and there would be plenty of money "for the children"....done my part

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Long Vaseline....

Steve98765
Posts: 12
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Detroit, MI
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I just voted!
The bond proposal from my school district really pissed me off! They really think we are stupid, They want to issue $155M in new bonds to retire $ 123M old bonds and go further into debt and then tell us that this will be result in a decrease in our millage rate (of course until they roll those bonds over again at higher interest rates in the future). Then of course they highlight that this extra money will be used into increase security "make school safe". I don't think security systems cost millions. Also to update buses, building and technology. I would think that this would be part of the normal budget that will not require special millage to pay for.

Tickerguy
Posts: 154882
Incept: 2007-06-26
A True American Patriot!
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@Steve98765 -- This is akin to what they tried here -- they spent the impounded funds for things like lunchroom refer maintenance and roofs, then came begging for more in a millage increase.

I spoke at their board meeting and told them I'd do whatever I could to defeat it and if there was a rule of law left in this country every member of the board would be in prison right here and now for violating their fiduciary duty to the county residents -- and asked the Sheriff who was there why he didn't immediately arrest the entire board. He didn't of course, but we DID defeat the measure. I also got a letter to the editor published on same.

So far it hasn't come back - we'll see if it STAYS gone. Odds are I'm ****ing gone with Gillum being elected before it all goes to **** here anyway.

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Winding it down.
Comrader
Posts: 338
Incept: 2010-06-10

pa
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our local school board just voted to tear down a perfectly good elementary school[built in 1980s]in order to build a new football stadium on that location. of course they will then tear down the old stadium and build a new elementary school on that spot. all while enrollment is declining!
Smacktle
Posts: 1894
Incept: 2009-01-20

Texas
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I think the only reason I keep voting is because it's a habit. One I need to break.

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The faults of the burglar are the qualities of the financier.
- George Bernard Shaw
Steve98765
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Detroit, MI
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@Comrader

In Michigan it gets even better with wasting money. Michigan has school of choice. So basically, if a school district has extra room, they can take out of district kids. Then their state money move with the kid. So the schools takes kids and the state money. Then ask the tax payers for more money (Bonds) to expand schools and buy more equipment etc... Instead of closing and consolidating school to reduce cost due to the reduction in-district enrollment. This is all done not to improve the schools but to prevent teachers from being fired.
Comrader
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pa
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its funny how the school board members names tend to rhyme with the teachers names
Keenan
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Western PA
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Quik49 - same idea here except it's a proposed property tax increase:

https://www.publicsource.org/pittsburgh-area-nonprofits-are-pushing-for-a-new-tax-to-create-an-18-million-childrens-fund-heres-what-you-need-to-know/

Main reason I went to the poll was to cast a NO vote on it.

I am astounded to see that chartalist nonsense gets consideration on a site oriented to corporate finance:
http://ww2.cfo.com/the-economy/2018/11/t....

Thelazer
Posts: 194
Incept: 2009-05-11

Davenport, Fl
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Well, from my time at the poll today.

I saw, more woman than men at one point. One woman brought her kids and said "I told them to fill all the D's in on the child ballot" and everyone else polity just stayed quiet.

I have no idea on how this will end up at this point.
Gable
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Retired in NC Mountains
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{q}Odds are I'm ****ing gone with Gillum being elected before it all goes to **** here anyway.[/q]

If it is not to personal, I am curious which state you may move to?

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In all of history, no government became more honest, less corrupt, or respected its citizens' rights more as it grew in size. E.L. 2016
Tickerguy
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**** if I know

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Winding it down.
Ckaminski
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I think at a minimum any state with an AWB is out, so that excludes VT, MA, NY, CA, MD, NJ, OR, WA. AK is too cold. TX, AZ, CO, NV are out for being too CA-ish and too illegal friendly.

Every state is in on the healthcare bezel, so you're screwed from that point.

They all have budgets blown to hell by poor management, so that's a non-starter.

Needs to be predominantly red, IMHO, and should have reasonable growing season. I like the Carolina's but I think they're fairly blue, or controlled by blue counties. PA is nice, but I don't know, I feel it's a step away from falling in with MD/NJ/NY on pretty much everything.

Illinios is a bust, for many reasons.

Honestly, I think that leaves Idaho and the Dakotas, maybe Montana, Kentucky. Tennessee LOOKS nice, but the forums come up with some good reasons to avoid. Utah? Wyoming? WV?

Arkansas is out for supporting that ****-stain Clinton for so long. I don't advise coming to Massachusetts, though I love my state, it's a liberal hellhole. You might luck out with Maine, but BRRRRR.

Hawaii is beautiful to visit but ****, being half a planet away from everyone I care about? No thanks.

Honestly, the #1 thing for me is the AWB and other self-defense associated asshatery. I'm in Mass now and subject to such idiocy - if I move I'm not going to a place with similar bull****. Next on the list would be just how badly in debt obligations they are, and whether they have workable plans to address the issues, or can repudiate the promises.

Next would be corporate tax rates. I do hope to set up some small income generating businesses some day. Maybe which federal circuit is in control of the appellate courts - the 9th is straight out.

I have found something beautiful and wonderful friendly people in every place I've traveled to in this nation. I've made it to maybe 25 states? But some governments are intolerable and I can not support them in any manner. NY, which landlocks me from the rest of that nation, CA, DC itself.
Lobo
Posts: 520
Incept: 2013-12-25

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Choosing a new state is kind of like the choices on the ballot: which one is least bad. There ain't no such thing as perfect and if there is we'll find it when we're good and dead.

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Village Idiot
Elkad
Posts: 475
Incept: 2009-09-04

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Given a choice? Probably ID for me, or western MT.

WV isn't bad though, I'm satisfied-ish with it politically anyway (though we are failing to get rid of Manchin tonight). Too humid where I'm at, despite the elevation, but not brutally bad - definitely not on the FL/NC scale.

Very firearm-friendly. No permit needed, great reciprocity if you do get one. Sheriffs sign off on slips for NFA stuff.

But good luck finding a decent job. Or a non-obese date.
Quik49
Posts: 5181
Incept: 2007-12-11


Online
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Utah is VERY red...though SLC has it's lib spots. Highest rv per capital in the country....open carry... incredible places to see within hours...incredible recreation.....And a balanced budget.....taxes in the middle.

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Long Vaseline....

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