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The Market Ticker - Cancelled - What 'They' Don't Want Published
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2022-06-10 07:00 by Karl Denninger
in Editorial , 628 references Ignore this thread
Fury Road, USA Edition
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Oh you've seen it.  Hell, now we've even got actual articles on it in the so-called mainstream press.

 

Oh really William?

You mean how you and your family acquired all your money?  By riding a credit bubble which our Congress created through fraud, artifice and promising people that "ever human can get help"?

A 30 year credit bubble, I might add, but heh, let's not pay any attention to the man behind the curtain pulling on the cords, eh?

But the truth is not what it appears.

Pulte has some three million followers on Twitter.  How many are actual people is of course unknown but let's face reality here -- even by his own claims he's only helped 2,000 of them.  In other words this is no different than the MLM promoter who claims you can be the millionaire standing on the podium with him.

Well, maybe.

But only a tiny percentage -- less than 1% -- ever will or can and its simply a function of arithmetic.

“Government should be doing it,” Pulte told the Associated Press. “But in the absence of government, we have to step up and help people who are dying of cancer, who can’t afford their diabetes insulin pump, who don’t have teeth.”

Just like government has skyrocketed the price of gasoline?  Oh, and of houses too, and how did your family get its money?  Why by exploiting that screwing!  Isn't it so nice that a mere 0.1% of the people who got fucked to the point of needing help now get some from you..... what a great guy!

Hunger Games indeed or, if you prefer...

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Itom72
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Appalachia
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What happens when children, idiots, and demons are permitted to run wild?

We're finding out, aren't we?
Tonythetiger
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Fort Walton
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Double, double toil and trouble;
Markets crash and markets bubble.
Bankers from the government take,
To cover losses that they make.
Vaxx the people and their dog,
Warp-speed straight into the fog.
Watch Big Pharma's register ring,
And see their profits take to wing.
For a charm of powerful trouble,
FED and Government keep blowing bubbles.

(with apologies to William Shakespeare)





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"War is when the Government tells you who the bad guy is. Revolution is when you decide that for yourself." - Benjamin Franklin
Blanca
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Liberal do-gooder tweeted:
Quote:
In the future, technology will enable every human being to get help.
The new mRNA and adenoviral vector vaccines have enabled nearly every human being to "get help" and they have injured and killed hundreds of thousands of people.
Patrick58
Posts: 156
Incept: 2019-08-08

BEECHER
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Who is this "WE" shit?

"Sorry but you confused me with someone else!"

"Where were you when the Feral Goobermint was forcing me to take a jab?"

"Fuck you!"
Whitehat
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Operation Escape from New York
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Sad thing is that for all of his wealth and intelligence, he is not consciously aware of his hypocrisy.

He is too deluded to realize what Karl points out here.

That is why these people prove to be very dangerous.


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smiley "How are you feeling? Kind of under the weather? Like you've got the flu?"
Purplefang
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Oklahoma
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Helps me. So there is a magic technology that just produces help. Isn't the Federal government helping with about $5 trillion a year already? But that help isn't coming from magic technology. It's coming from taxes and the devaluation of the currency. The goose that is laying the golden eggs is not the government but the people actually motivated to work. The destruction of prosperity is the government's boot on our necks.
Twainfan2
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MN
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Never heard of this clown. Im sure he will wake up when someone has him tied to a spit and is slowly roasting him over a fire and sprinkling seasoning on him.
Dingleberry
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CPI just came out.....inflation robs that victim far more than any hood rat thief will over the course of his life.

I fully expect energy to SOAR due to the LNG "accidents" (damn TG called that one right on the fucking money), on top of the green scams just getting started. Look at what the good Michigan senator Stabenow told her subjects and rubes.

"If gas is too high.....eat cake! I mean buy a Tesla!"

I would rather be robbed of everything once in life, instead of being robbed daily with inflation like I have been since I shot out of the womb.
Greenacr
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Northern Ohio
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@ Twainfan2 "Never heard of this clown. Im sure he will wake up when someone has him tied to a spit and is slowly roasting him over a fire and sprinkling seasoning on him."

Head on a Pike is probably better. Need to message his peers.
Krzelune
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He should outbid Elon's Musk and save the world with tweets.
Abelardlindsey
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The credit bubble started with Greenspan in the mid 90's and just seems to go on and on. I agree that "private equity" would largely not exist if it were not for the credit bubble. I also think the credit bubble is the reason for the emergence of "entrepreneurs" who are politically left. These people would not be entrepreneurs if it were like the 80's and early 90's.

Every time we have a recession, I think this will be the end of the credit bubble. But they always manage to keep it going. I thought the 2008 crash would certainly end it. But it did not. I have no idea how far or how long they can keep it going. I don't see how it can be kept going forever.

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It's all in the mitochondria.
Packetcap
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People who are working and commuting have to be looking at their rising commute costs which are eating their disposable income.

How many have already discovered that the rising price of gas is causing them to only break even every month?

Bustedbuck69
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I wish I had a penny for every time I heard this
Quote:
We should pass a law.


Note: Code of Federal Regulations ~ 175,500 pages with a ~1170 page index.
Then add in the laws for we, but not for thee concept and the true scope of this Potemkin Village becomes incomprehensible. + ~ 24 million busy body gov. employees to ENCOURAGE enforcement. Starting a small business is and act of self flagellation. Not so much for them. The Broncos sold to a Walton heir for 4.6 billion, a record price. Panem et circenses, soon to be with NO bread.

AND another penny for the one stated in the AP reporting
Quote:
Quote:
Government should be doing it, Pulte told the Associated Press. But in the absence of government...


That's it absence of government... smiley

Solves 95% of the problems.

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"---the politicians---they think the laws of mathematics are suggestions." K. Denninger

"The greatest shortcoming of the human race is our inability to understand exponential function." Al Bartlett
Bodhi
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N. GA
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Packetcap wrote..
People who are working and commuting have to be looking at their rising commute costs which are eating their disposable income.


Not seeing much sign of that in my area of metro Atlanta. People still driving like bats outta hell on the interstates around here.

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The aim of public education is not to spread enlightenment at all; it is simply to reduce as many individuals as possible to the same safe level, to breed a standard citizenry, to put down dissent and originality. ~HL Mencken
Rangeishot
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FL
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@Bustedbuck69 -- It'll never happen, but I've always said they should be required to get rid of a law in order to pass a new one. They'd pretty rapidly burn through the "no spitting on the sidewalk" blue laws and have to start actually thinking about it. (To your point about the size and complexity of the CFR, maintaining the status quo isn't great, but it's better than the endlessly growing cancer we have now.)
Twiggler
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Too Close To ScottJ175
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Well, here's one way to make some money ... poasted without comment ...

https://www.foxbusiness.com/economy/geic....
Proverbs16.33
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WNC Foothills
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Tonythetiger, that Shakespeare is GRRRRRRREAT! It's nice to be able to smile about *something* these days.
AS for the general state of inflation, I did manage to get out of the grocery store for under $300 this week, so that's a win these days.
I just keep wondering "What's Next?"
Lazydaizy316
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Ontario, Kanukistan
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Here in ontario kanukistan, numuts still are not feeling the pinch (or hiding it well). Roads are still packed and mass transit is empty. When we drive by a city bus, its either empty or 1 rider is on it. What a waste of tax payers' money. You would think that $8.32 a gallon ($6.50 US) would smash the brakes. But, nope. smiley


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God is great!
Beer is good!
And people are stupid!
Mannfm11
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DFW, Tx
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@Dingleberry: The LNG accident is going to give us temporary relief, as it will keep more gas in the US. Kind of makes me think it wasn't an accident. Their drum beat is electric cars and gas goes directly into electricity. Those costs have to be passed on and they depend on the domestic price of gas.

As far as Pulte goes? They built a decent product years ago, though it had a funny paper look to me. You could recognize it.

The problem here is fiscal and monetary policy has produced an outsized wealth effect on people like Pulte. I'm on the other side of this coin and we are looking at a prayer to produce 4% out of rental property. We need to move away from this product, but I am constrained by financial illiterates. Cash should come in handy if the banking system doesn't fail. You can't sell, because taxes will take enough of a slice to equate to 7%.

If inflation was zero, long rates on governments should be 3%. A 2% target should have never been backed with a 1% to 2% ten year bond rate or a zero funds rate. This is only possible under 2 scenarios, a recognition that we are trapped in a debt bubble or the Fed won't raise rates, thus triggering the reaction to the debt bubble. Government policy is creating this mess, aided and abetted by the Fed.

The great secret is if you own these assets and the return on treasuries adjust, you can't sell and move up on the chain. You can only sell in front of this process. I think credit tightening will implode income from a lot of areas, especially real estate. We need a 7% return based on current prices and I suspect the prices will adjust downward to create that return, not the other way around.

I get a call a week wanting to buy my property. I don't have a way out, because demand would be to buy another property. Text messages also come in. It used to be massive amounts of bulk mail, but I suspect they aren't getting a payback from mailing hundreds of pieces. Sometimes I get 5 to 10 from the same speculator. How much property is in the hands of speculators, keeping pressure on the day to day market?

The Democrats are feeding their pets. This feeding is showing up in prices now and extreme wealth disparity. Does Pulte's income disappear, if they have to sell with 8% mortgages? Does the inflated value of their stock split in 1/3 with a real capitalization rate? What happens with the pensions fail, due to zero rates? All of these are high speed bullets headed toward the asses of everyone.

People don't understand you can't tax the rich without diminishing the pool of capital that provides investment to keep the real economy running. The cost of doing business always ends up on the middle class. More government spending provides more support for the bubble, further expanding the disparity of wealth.

This bastard sent out $1.2 million? I bet his cost of living is 5 times that. He looks more like John D Rockefeller running a little philanthropy to cover up his evil political deeds. He is begging for the government to put out more funds to feed his own tiger.

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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
Mannfm11
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DFW, Tx
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@Rangershot: You ever see the Federal Resgister? A phone book every day. The regulations are the law. It is administrative procedure. Some laws, RESPA for example, was passed for a long time before they wrote regulations. We just had to guess.

@Dingleberry: The LNG plant will help keep supply within the US, giving us a temporary respite. If shit in his pants will ease regulation, it will give time for producers to catch up. NG has been at depressed prices for years and it has always responded to prices. T. Boone Pickens made a statement around 2004 we had seen the last of gas below $5 forever. I kind of snickered to myself. We just came out of several years where summer prices were $2/1000 and less. They were doing contracts in the early 1980's at $5 and higher. That blew up Penn Square bank and some others that had bought participation in deep gas, another Democrat Party economic blunder.

The biggest worry is Congress will get into pricing. Biden is already destroying the reserve and when that runs dry, a shortage, in the amount put out will develop. The efficiencies US oil and gas have developed are amazing. We came from dwindling production to over 12 million barrels a day, using 1/4th the rigs that were making hole in 1980. Oil just came out of a depression and production in the US produced most of the new supply, under difficult conditions. We will be lucky if everything doesn't collapse. Millions of Americans hold mineral rights, something the elite don't care to exist.

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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
Erroldo
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Incept: 2013-09-12

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Just took my first trip since the plandemic. The planes from Phoenix to Amsterdam were full. Once in Europe, no mask whatsoever, but talk of inflation and worse coming is over here in a strong way. Just saw a very big market drop today in US. Gone a week and hell broke loose in paper asset deflation.
Tritumi
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tokyo
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It is a remarkable coincidence, but these past two days I rewatched Fury Road for the first time since its release.

Is is an amazing picture, of course, but I could not help but see Immortans Joe as the spawn and direct descendent of Klaus Schwab.
Quantum
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Friends at church are limiting trips (e.g., a family of five who drive a Yukon). I'm limiting my own trips somewhat, or more accurately actively seeking to combine them (because I live 50 miles from almost everywhere).


Mannfm11
Posts: 8221
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DFW, Tx
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@Erroldo: They are having trouble replacing destroyed jabbed pilots and not all planes are flying.

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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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