CHRISTmas Musings.....
The Market Ticker - Commentary on The Capital Markets
Login or register to improve your experience
Main Navigation
Sarah's Resources You Should See
Full-Text Search & Archives
Leverage, the book
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. For investment, legal or other professional advice specific to your situation contact a licensed professional in your jurisdiction.

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.

Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility; author(s) may have positions in securities or firms mentioned and have no duty to disclose same.

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.

The Market Ticker content may be sent unmodified to lawmakers via print or electronic means or excerpted online for non-commercial purposes provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media, to republish full articles, or for any commercial use (which includes any site where advertising is displayed.)

Submissions or tips on matters of economic or political interest may be sent "over the transom" to The Editor at any time. To be considered for publication your submission must be complete (NOT a "pitch"), include full and correct contact information and be related to an economic or political matter of the day. Pitch emails missing the above will be silently deleted. All submissions become the property of The Market Ticker.

Considering sending spam? Read this first.

2010-12-25 15:22 by Karl Denninger
in Editorial , 128 references Ignore this thread
CHRISTmas Musings..... *
Category thumbnail

So as I sit here waiting for my pie crust to chill so it can be rolled out, and prepare to stick my extremist pumpkin pie and extremist turkey breast in the oven, along with all the other fixings that I'm preparing for dinner today, I thought I'd muse a bit on what we should hope for out of our CHRISTmas this year.

Hope, of course, is one of the three things that all organized religion attempts to teach.  The other two are faith and love.  But do we really find them in organized religion - of any stripe? 

There have been many times over my life that I've doubted the existence of God.  But never more than in the last few years, as the trappings of what our nation began with, The Constitution, drawn by a few dozen wise men, guided by provenance, has been systematically shredded into confetti and used for toilet paper.

To be sure this is not exactly a new thing.  Our tripartite system of checks and balances was utterly trashed in days gone by, with two of the most-egregious examples being FDR's attempt to pack the Supreme Court and the introduction and passage of the 17th Amendment, which instantly and permanently eviscerated the 10th Amendment - part of the grand bargain by the colonies for the adoption of The Constitution in the first place.

Indeed, if one looks back through the outrages of Federal Government expansion, you'll find they pretty much began with the 17th Amendment, and the reason is clear: Its passage removed the ability of The States to block federal legislation.

Yet that fundamental construct - a modest and weak federal government and a comparatively strong set of state governments, is exactly what all those in our nation signed up for roughly 235 years ago.  The Constitution is in fact a contract - but like all contracts, it is only as good as the willingness of the parties to enforce it.

Liberals of all stripes talk incessantly about "The living Constitution."  That, of course, is a crock.  The Constitution is a set of black letters arranged on a very-dead tree.  Yet it is not inflexible - the means to amend it to suit the needs of the day is embedded within.  For better or worse that path was allowed, and in some cases, such as the 17th Amendment, I argue we so amended it foolishly, in the heat of political "wedge issue" arguments that in fact date back to the founding of politics itself.  Yet when a liberal wants something he can't have under The Constitution he typically ignores the constraint - such as those who argue that the black letter language of The Second Amendment means that only "The National Guard" has the right to bear arms never mind that The Constitution was drawn when "The National Guard" was comprised of every able-bodied man, keeping and bearing his own arms suitable for military purpose (which most-certainly include rifles and handguns), whether organized into military units or keeping their own homes and land safe from potential - and actual - marauders.  Such a force comprised of all citizens willing to bear their own arms in what we now call The United States in fact dates back more than 370 years, to the 1630s!  In 1903 the "organized" role of the National Guard was subsumed into the Army Reserve force, where it remains.  But the original militia envisioned by the founders did not (of course) disappear - it remains in the form of every citizen willing and able to bear arms in defense of the nation, of the state, and of him or herself.  It's just inconvenient to acknowledge that fact when you've got a particular agenda you want to pursue - like Statist or even Marxist control of the people.  How soon we forget that one of Hitler's first acts was to disarm the population, and that this almost-certainly made possible mass-murder of Jews and dissidents.  In short, The Left keeps some damn strange bedfellows.

Conservatives of all stripes talk incessantly about "The Rule of Law."  That too is a crock, considering that The Rule of Law most-certainly includes all of The Bill of Rights - not just the parts congruent with what they want to do if and when convenient.  The Constitution provides, among other things, that in all matters of controversy that exceed $25 in value, and for all criminal offenses no matter how petty, you have a right to trial by jury.  Try to assert that right for a traffic offense carrying a $200 fine and see how quickly you're ruled against.  The 4th Amendment prohibits searches and seizures without a warrant specifying probable cause and the specific item(s) to be searched for and seized under that probable cause, yet I don't recall the last time I saw an alleged Conservative actually demand that all of the illegal searches and seizures that take place every day in this country cease.  The Constitution also provides for explicit equal protection under the law, yet we have a multitude of Statutes that explicitly violate same, not to mention blatant refusal to prosecute black-letter crimes - even admitted crimes - when the criminal is some powerful institution like a bank.  The Right keeps some damn strange bedfellows too, when one considers the admitted and alleged crimes involved - organized tax fraud, breaking and entering, burglary, theft, money laundering in support of drug running and terrorism - to name just a few.

We have Statutes that are wantonly and willfully violated without recourse every single day.  One such example is The Federal Reserve Act which explicitly mandates price stability.  Those two words are clear and bear no interpretation or argument.  Yet Ben Bernanke and those who have come before him have continued to hold the office while asserting that "2% inflation annualized" meets the mandate.  Really?  In 1776 an 8th grade education was sufficient for anyone to know that over a mere 50 years such a mandate would result in the devaluation of saved capital by 63%, and over 100 years, almost the duration of The Federal Reserve to date, it would result in an 86% devaluation.  Never mind that the actual rate has been closer to 3%, resulting in a devaluation of about 95% over that time. Such is the nature of compound functions.  How this sort of thing comports with the word "stable" is beyond anyone with an IQ larger than their shoe size. 

That we, the people, have and do permit this is proof positive that our shoe size exceeds our intellect.

Then we have so-called "Security Apparatus" such as the TSA.  A pilot was recently "disciplined" for disclosing via videos what I've talked about repeatedly since 2001 - The TSA provides no security of meaning at all.  Proof of this is found in the fact that airport employees simply go through a card-reader door to get to "sterile" areas of the airport and are not searched on the way in - or the way out.  This, of course, leaves a wide-open path for someone to either impersonate a worker (trivial if all you need to do is duplicate or steal his access card) - or bribe him or her.

A baggage screener was arrested in 2008 for stealing more than $200,000 worth of electronics from the pass-through X-ray belt that your carry-ons go through.  She was caught when she allegedly stole a camera belonging to CNN, which they found listed on eBAY for resale.  Oops.  Nor was this the only incident of this type - as of 2008, 465 "officers" have been fired for theft.   Left unsaid, of course, is that if I can steal something from your bag I can put something in it too, and that "something" might be a bomb.

Then there's the fact that just a few days ago a man accidentally carried on a handgun - it went right through the security check at the airport X-ray machine.  It wasn't a little gun either - it was a .40 pistol!  Experts tell us that the "fail" rate to catch weapons carried on approaches and in some cases exceeds 70%.  Are these people sleeping at the monitor?  Again, if that's the "accidental" failure rate how hard is it to bribe one of the men or women watching that X-ray machine at an "appropriate" time if you have nefarious intent? 

We're told that we should "submit" to full-body X-rays which will do nothing about this problem, since a carry-on bag isn't, of course, on your person.  And we continue to accept that the "underwear nut-burner" would have been "caught" with such screening even when 70% of the time guns, which are a hell of a lot easier to spot than a splotch of explosives splayed around one's genitals, are missed by people using the same technology at much higher power levels and resolution with your carry-on bags and despite the fact that the crotch-bomber was walked around security and check-in formalities by someone - therefore, scanner or not, competent operator or not, he would not have been caught by it!

The truth is this: While there are plenty of terrorists nearly all of them are cowards.  Oh sure, they'll try to send a bomb in a toner cartridge from Yemen (exactly how many toner cartridges are manufactured in Yemen, may I ask?) while they sit on the ground chortling at their grand attempt to blow a plane up.  There are terrorists who will pack a van full of what they think are explosives and park it near a Christmas Tree lighting ceremony, intending to kill dozens if not hundreds of people, including children, by remote control using a cell phone while safely beyond the expected blast radius.

There are damn few terrorists, and most of them seem to have an IQ well below room-temperature, who are willing to die in the commission of their intended act.  This appears to be a matter of innate wiring of the human brain, and is a good thing.

But in our mass-hysteria we allow "Big Sis" to tell us that a risk that is 100 times less likely to result in our injury or death than the simple drive to the airport to catch our flight suddenly requires that we forget that the 4th Amendment to The Constitution exists.  Never mind that nearly all of the arrests and prosecutions that the TSA manages to actually commence (despite their bungling success ratio) have nothing whatsoever to do with airline security - the arrestees are, by and large, busted for things such as drugs. 

Isn't it funny how the "Security Theater" game, complete with entirely-inept employees that can't detect a gun 70% of the time in a carry-on bag, thereby rendering them in my opinion unfit to ask "would you like fries with that", manages to get us to give up one of our fundamental rights by waving around a risk that is documented to be 100 times less likely to kill you than the drive to the airport?

Who's the dummy when our collective IQ is so low that we fail to detect and refuse to accede to this obvious and intentional lie?

So as we celebrate CHRISTmas this year, let us pray that should God actually be out there that we not receive material gifts under our tree, or even the love of our fellow man.

No, let us pray that the New Year brings a sense of outrage.  A demand for justice.  A bent to prosecute, not loot.  A demand that each and every of our Constitutional Rights be respected and that those who try to abrogate them be ejected from public service and jailed.  That we become a people unwilling to sit still and twiddle our thumbs (or other bodily parts) while the roughly 6% of our population that is psychotic and malevolent strips the productive people and assets of this nation to the bone, then throws what's left into our own funeral pyre and uses what's left of The Constitution to ignite it.

We have the ability to demand that these acts stop and that those who committed them in the past, throwing people from their homes, blowing serial asset bubbles through lies and obfuscations, stealing through misrepresentation and fraud or making promises that were known to be fundamentally unsound and impossible to keep be identified in public, indicted, prosecuted and imprisoned.

We, the people, can take this nation back.

It is within our power.

We only need the will, and the Grace of God, to do so.

Go to responses (registration required to post)
 



 
Comments on CHRISTmas Musings.....
Login Register Top Blog Top Blog Topics FAQ
Page 1 of 3  First123Last
Jotapay 17k posts, incept 2008-08-26

Merry Christmas and thank you for everything you do. /hat tip

No1ninja 2k posts, incept 2009-08-19

I have reservations about the G word. Say it in the wrong company and you have given permission for people to categorize you.

So what I believe in is Purpose. I feel that my life, and my reality has meaning and purpose outside of what hangs between my legs.

Today Jesus was born. Yesterday I spent it with family. Today I will spend it with friends, we will get FUBAR'ed and celebrate JC's birthday as if he was one of us, play tunes, tell fish stories and pray to the porcelain throne. (If I log on here, and start talking about my goldfish when I was kid, please understand.)


As far as hope goes. I think hope does have its place. When you have none, it can be the emptiest feeling in the world. I would say hope in general, is your ability to be an optimist.


Hope is the only currency that has any real value in my life. It is that extra bounce in my step. (I will use rational and irrational means to hold on to it.)


----------
http://www.wikileaks.fi/cablegate.html (alternative mirror #2)

Cmalbatros 523 posts, incept 2008-05-07

Hope you all are having a better day than me , this morning I had to help my step son - in law bury his dead dog (poisoned we think) on a cold and white CHRISTmas. May all the traditional sentiments of the season be with you all. Tell every one you can what a bang up job our government is doing with running the country.

----------
The only regulation that works - is failure.
Remember, the value/price of stocks and shares fall as well as plummet.
Falcor 733 posts, incept 2007-12-03


Merry Christmas and Happy New Year to you, Karl and everyone else here.

Jotapay 17k posts, incept 2008-08-26

Cmalbatros, I'm sorry to hear that. If there is anything I can personally do to help you, please let me know. I am thinking of you, you are not alone.
Bezzle 15k posts, incept 2009-08-02

Quote:
There have been many times over my life that I've doubted the existence of God. But never more than in the last few, as the trappings of what our nation began with, The Constitution drawn by a few dozen wise men, guided by provenance, has been systematically shredded into confetti and used for toilet paper.
Instead of getting into an unwanted argument over the "crime of the blackest dye, as it strikes at the happiness of millions," -- I'll just post a few more videos of my favorite musical instrument in the whole world, on an entirely appropriate day for it:




----------
El Sock-Puppeto exposed and killed by Tickerguy

Bepie 25 posts, incept 2009-12-06

A voice crying in the wilderness.
No1ninja 2k posts, incept 2009-08-19

I also think that hope may have a quantum basis. Did Jesus exist? Maybe he did maybe he didn't if you've watched zeitgeist, they certainly make a good case for the propensity of humans to tell stories.

Maybe on a quantum level, it matters not what the past was, maybe if the image of Jesus exist in our hearts and minds, maybe it can be just as real and be a quantifiable force in this universe. On a level that we have not begun to understand.

I think we are creatures that only understand our conscious self, what is in the subconscious is beyond our conscious grasp... it comes in to our lives without thought or action. If we consciously try to find the moment that makes us fall asleep, we will never sleep. If we think too hard, the subconscious gets overpowered. I have noticed that the smartest moves I have ever made have always come from my subconscious. I don't think the conscious mind is equipped well enough to understand time and space.

For all I know our thoughts and dreams are the seeds that lay the foundations in another dimension. No one will ever steal my hope, they can come with tanks and guns, but they will not get it. (It is what makes me human, and not a robot.)

----------
http://www.wikileaks.fi/cablegate.html (alternative mirror #2)

Bohemian 9k posts, incept 2010-07-27

The 28th Amendment to the Constitution will invalidate the entire Constitution - that is if the US Supreme Court doesn't kill it first. I have no faith anymore that 'the people' - Democrat, Republican, Libertarian - will stop the looting and start the prosecuting without a Civil War to force it.

Sounds radical, but Washington, D.C. needs to burn again if we are to ever have freedom in the truest sense. If our founding fathers were alive today, they would immediately begin organizing a Revolution. 235 years is a spit in the wind for the last, best hope for freedom from tyranny and justice denied left in the world. Freedom passed away before Lincoln took his seat in the Oval Office and a shell of this nation is corrupt to the core, from federal halls to state governments and city councils; the sickness runs to deep. If the United States of America were a hospital patient, it would be on life support. Pull the plug and let it die so we can rebuild. The 'crash' will be less painful if we start now.

This great Republic is lost. Those who don't see it never will until the boot of government authority is firmly placed on their neck. Watching this slow-motion train wreck isn't the least bit enlightening anymore. I've personally had enough.

"They must find it difficult ...
Those who have taken authority as the truth, rather than truth as the authority."
-Gerald Massey, Egyptologist

Merry Christmas.

----------
"The politicians are put there to give you the idea you have freedom of choice. You don't. You have no choice; you have owners. They own you. They own everything." - George Carlin
Dobledelux 419 posts, incept 2010-01-13

Thank you for all the gifts of knowledge and insight you have given me this year Karl. Was going to buy myself a new gold star for CHRISTmas but I guess that will have to wait till the new year.

Merry Christmas to you, your family and to all my fellow TF readers and contributors.

----------
I invoke my 5th Amendment right to remain silent and Am I free to go?
No1ninja 2k posts, incept 2009-08-19

Whatever must happen will happen... its obvious, the elements in power have been bought long ago. They are not working for the people, but for the money masters. Its just a game of let the line loose, and reel it in, let it loose and reel it in.

Sarah Palin is busy practicing her smile in the mirror. Obama is busy figuring out how he can a make everyone happy, wolf and sheep.

Maybe the system needs to fall. Maybe we need to get our hearts pounding. Watched that video of Gene Tatum, was not really interested in his view of the big picture, because he can be just as bonkers as anyone else. What interested me was his first hand accounts. Especially seeing good old Olie North faint upon seeing a wounded mans beating heart.

The scum always raises to the top.


----------
http://www.wikileaks.fi/cablegate.html (alternative mirror #2)

Nanna 6k posts, incept 2008-01-20

Eventually, everything/everybody revealed for what/who they are.

Seems like it's happening faster all the time, so odds on you'll get your Xmas wish, Gen.

----------
"There are fluctuations in the market that don't mean anything."Ira Gluskin, February 14, 2012
Marketman1012 61 posts, incept 2009-04-25

Enjoy the holidays KD. Once again an absolutely outstanding Ticker..on top of dealing with the gold-buggery very well the past few days.

We need to tear down the two party system that divides people and allows the constitution to be attacked from 2 sides..so help us God.
Inline
Zappafan 6k posts, incept 2007-11-30

Merry Christmas Karl.

No matter what happens, you should take solace in the fact that you've made a tremendous contribution towards the effort to stop the looting. Taking the time to unravel the ingenious devilry that Goldman Sachs and others have engineered, all in an effort to strip mine 40 years of wealth amassed by the greatest generation, must be a burden.

I'm taking solace in the fact that today is the day to celebrate the birth of Jesus. And from a slightly less upbeat view, today is the worst day of the year if your name is Ben Bernanke. For today all the stores are closed, the malls empty, and the velocity of money has hit zero. For at least one day, Americans are baking cookies instead of panic-shopping, taking some time to actually talk to their loved ones, and cease to be "consumers", but rather human beings made in the image of their creator.

Lets hope that 2011 is better than 2010. There is strength in numbers ... a lot of people are waking up and I think the time is short for the can-kicking brigade.

Vapor 1k posts, incept 2008-04-10

Karl

Liberals dont bend the constitution any more than conservatives. A perfect case in point is the recent Citizens United decision-written by 5 conservatives-which equates political bribery with freedom of speech, and therefore protected by the first amendment. If that isnt heaping new meaning upon the first amendment, then I dont know what is.

Political bribery is the #1 fundamental problem in the US, and it is primarily aided and abetted by conservatives/republicans. This is the reason why the government ignores you, karl. They dont have to listen to you or other citizens because they get plenty of money from Multinational Rape Corporation, Inc.
Mo 12k posts, incept 2007-06-26

It's all so crazy disgusting, isn't it?

We've been collapsing from the bottom up for going on 3 years now. Sometime in 2011, probably in the summer, states and cities are going to run out of cash for government employees and their clients. Thousands of contractors will go unpaid and big layoffs will occur. Obama will blame Congress for the lack of state and local skittles. Governors will scream it's not their fault. Both local and state governments will be SOL. This coming year.

But no one in the government or the media has been allowed to talk about this eventuality. Meredith Whitney scratched the surface the other day, and that was met with hysterical denials by the state economic organ, CNBC.

The first action they take is to shut down discussion and assure everyone that 'it's contained'. I assume this is what they will do when civil disorder begins.

The only justice is - most of them will be in the environs of NYC and DC when TSHTF. Too bad, so sad.

----------
Welcome to Pottersville
Eleua 23k posts, incept 2007-07-05

Karl,

Thanks for saying exactly what you did. We can take this country back, but it won't be easy for those that wish to see it destroyed for their own purposes are quite pleased with the progress they have made.

In the 18th Century, fallible but humble men realized that fallen man submitting to the Light of God could secure the blessings of liberty for themselves and their posterity.

This won't be easy nor comfortable for modern senitivities. The second posting on this thread got after you for daring to mention "the G word," but he isn't an American.

Liberty without self-restraint is going to end up in license and despotism. It always has and always will. Our FFs knew this to be the case and warned against it.

Merry Christmas to all my TF brethren.


----------
Diversity + proximity = WAR

-The facts do not care about your narrative. The "GREAT NOTICING" continues apace.
Bohemian 9k posts, incept 2010-07-27

Quote:
Political bribery is the #1 fundamental problem in the US, and it is primarily aided and abetted by conservatives/republicans.


Oh, bullshit, Vapor. Democrats and Progressive liberals are sucking bank cock (if not more that Republicans) - not to mention unions and MSM just the same. Let's don't forget the shitload of progressive PACs or ACORN or the SEIU or Teamsters, et all. Finance a failed company like GM some more on my dime and watch the campaign coffers of Dems fill up some more.

Don't turn this into a partisan debate unless you debate the facts. It's both sides, dumbass. Your very argument is the reason why this whole system is broken.

Merry Christmas.

----------
"The politicians are put there to give you the idea you have freedom of choice. You don't. You have no choice; you have owners. They own you. They own everything." - George Carlin
Truthseeker 9k posts, incept 2007-10-07

You've got it, Bo.

Vapor---read my tagline.

----------
'...But people better realize that the worst-case scenario could actually happen.9/11 happened. This can happen. An economic 9/11, the likes of which we've never seen.' Gerald Celente
Soros 3k posts, incept 2007-08-31

Merry Christmas everybody :)


----------
So long and thanks for all the fish.
Blackswan 6k posts, incept 2007-11-06

Merry Christmas everyone.

KD, I will drink and continue to drink to that right now.

May 2011 bring the outrage and justice needed to save our nation before it is too late.

Cmalbatros - That is a dam shame and my heart goes out to you and yours over your loss.

----------
Its easier to fool people than to convince them that they have been fooled. -Mark Twain
No1ninja 2k posts, incept 2009-08-19

El,

I think you misunderstood what I said. I use the word God all the time. The problem is that I don't think I worship my God in a sanctioned way (this may piss some off, I must love god on their terms instead of my own). I feel I am a righteous man, and walk as close in the footsteps of Jesus as I can. I think if you believe or you don't, it makes no difference, the words are amazing words to live by.

My defenition of God, is my own. There is no sect or religion that encompasses my views, I realized this long ago. I need to be myself, its the only skin I feel comfortable in. This realization makes me also understand that I need to let others be themselves, as long as they do the same to me.


Who cares what country I am in? It's Christmas. (I might be in a stable, where it stinks of animal dung.) None of my messages were confrontational at all, just my musings on the subject.


EDIT: ...and my opinion is that Karl is not writing the ten commandments here, I think he prefers debate over having his ass kissed. So if I come across confrontational, that is not my intention, I can only learn the truth about a subject by exploring it to my best abilities.

----------
http://www.wikileaks.fi/cablegate.html (alternative mirror #2)

Truthseeker 9k posts, incept 2007-10-07

No1Ninja wrote..
I think he prefers debate over having his ass kissed.


He's made that abundantly clear. Although I'd add that HONEST debate is a non-negotiable requirement...

----------
'...But people better realize that the worst-case scenario could actually happen.9/11 happened. This can happen. An economic 9/11, the likes of which we've never seen.' Gerald Celente
Floridasandy 669 posts, incept 2009-08-20

merry christmas everyone.

god doesn't let us down, but perhaps sometimes we let god down.

i feel hopeful that good men and women are waking up and preparing themselves for the future as it unfolds.
Login Register Top Blog Top Blog Topics FAQ
Page 1 of 3  First123Last