Bye Beetlejuice And Cheap Money
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2023-03-01 09:33 by Karl Denninger
in Musings , 516 references Ignore this thread
Bye Beetlejuice And Cheap Money
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Goodnight Lori.

In a multi-way race Lori came in third, and thus is no longer in the game.  Her time in Chicago is over.  Good riddance; its not that there is and always will be crime in a large city (there will) it is that it spread everywhere and therefore there's no "gang-bangers corner" so to speak anymore.  This destroys the revenue base on which any city must operate as those "nice" places where lots of money gets spent and the patrons come both disappear.  After all nobody wants to get shot while having a few drinks or a swanky steak dinner.

Then there's Kashkari, who I infamously dubbed cash-and-carry during the 08 mess.  Now he suddenly finds religion on rates and liquidity; gee, what was it about the previous time around that made it different?  Oh, nothing really, except that it wasn't in his face that time, and now it is.  Being one of the more-noted pumpers of the day, for him to state that while The Fed would like to avoid recession that's not the gating factor -- inflation is ought to make you sit up straight in your chair.  If it doesn't you're obviously in a state where wake-n-bake is legal and you ought to contemplate whether that's a good choice.

The problem, as I've noted over the last couple of years is that The Fed is still not facing reality.  No, coming "back to" a 2% inflation rate will not do the job; you have to remove the previous inflation, which in many things has doubled.  Not 6 or 8%, 100% over the last year or two, and that has to come back out because without it you can't possibly restore balance and the capacity of Americans to earn a decent wage and have a decent life.  Without that the economic destruction will not cease, credit will not contract on the consumer side and, in particular with Medicare and Medicaid if we don't reverse that part of it within the next two years the Federal Government will face only two options: Let the programs go broke and you get nothing, or amend the law to permit funding from general revenues and spending in which case there's an instantaneous and permanently-escalating hundreds of billions of dollars federal deficit impact that will quickly ruin the government's ability to fund itself.

In short the cash furnace games, which include the medical system writ large, have to stop -- and stop now.

I have little hope for it actually happening, but that's what must happen.  Its not an option, because to not do so winds up with us losing our way of life -- probably permanently.  If you think a Venezuela or similar can't happen here, you're wrong.  It not only can it will if we don't cut it out -- stock and house prices be damned.

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Comments on Bye Beetlejuice And Cheap Money
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Abelardlindsey 1k posts, incept 2021-03-26
2023-03-01 10:08:14

Where is a Richard Daley when you need him?

Its all in the mitochondria
Heyjackass 42 posts, incept 2020-04-02
2023-03-01 10:08:19

We had Groot coming in fourth with the runoff between Vallas and Chuy. Chuy really underperformed, especially given how he was the media's preferred candidate for awhile there.

Let's Go Brandon Johnson surged in the final weeks as the North Side white libs dumped Lori for an even worse, but more white-guilt assuaging option. These people will gladly take it up the rear, if it means they can tell their friends they "voted for the black guy". Let's Go Brandon has a real chance to win this and he'll be much worse than Lori, if that's even possible. Unfortunately, Chicago hasn't hit rock bottom yet, and Let's Go Brandon is the ideal candidate to slam into said bottom and keep going.

At least he'd be good for business, but what's good for HeyJackass! is bad for Chicago.
Joancrawford 618 posts, incept 2013-10-14
2023-03-01 10:33:02

We all know it wasn't Lori's fault! It's what's called "systemic racism"! You know, the thing, know! Corn Pop was a bad dude!

Karl, your fault is that you're a white racist. Look, I get it. You don't like dark colored folk who happen to be female carpet munchers. Oh, lawds! What do Chiccongo do wid out Ms. Lightfoot?

I guess you all saw that Clot Adams has walked back his "stay the fuck away from black folk" comments. Jeezus fucking tap dancing Kee-ryst, is there at least ONE man in America with balls who will take a stand (right or wrong) and not go on an apology tour for doing so?

The next thing you'll be telling us is that Buttplug shouldn't be transportation secretary because, while he may indeed know DICK, he hasn't a clue about how to get shit from point A to point B.....BIGOT!

Time may be a great healer, but it's a lousy beautician.-Dorothy Parker

Boys don't make passes at girls with fat asses.-slightly modified DP
Abelardlindsey 1k posts, incept 2021-03-26
2023-03-01 10:41:10

There is no Richard Daley III waiting in the wings?

Its all in the mitochondria
Tickerguy 193k posts, incept 2007-06-26
2023-03-01 10:41:49

He would never win because he'd be called a racist just because of his skin color.

Given that and you know it would happen instantly, why would anybody with a brain in their head try?

The difference between "kill" and "murder" is that murder, as a subset of kill, is undeserved by the deceased.

Twiggler 178 posts, incept 2021-02-02
2023-03-01 10:47:53

I haven't been to Chicago since the late 1990's and early 2000's.

The company for which I worked had several clients and I spent some time there.

There were places that were bad but for the most part the places I went, runs along the lake, Grant Park, Wrigley, and the work sites, were ok. I even walked from my hotel (Hilton Towers) to Harry Carry's restaurant one summer evening. But I did return before dark.

It was interesting to see the mass exodus of Grant Park during Taste of Chicago at dusk from my room window.

And I came back from the work site one evening in the 1990's and saw protesters and others in front of the hotel. Turned out then POTUS Clinton was speaking at an event at the hotel. The concierge was nice and gave me some places to go eat and drink for a bit to leave the craziness.

I wouldn't want to go near that place now. Heck, if my youngest was still in his HS band, I'd have to be a bad guy, as his HS band is traveling for Spring Break to NYC to march in the St. Patrick's Day parade. I wouldn't touch NYC either. Too many other places to visit and spend my $$$.
Wifi 11k posts, incept 2013-02-13
2023-03-01 10:48:31

Shitcago can be fixed......send more money to Ukraine &


"We live in a, idiocracy populated with morons." - Goldbrick
"Freedom cannot end where fear begins."
Robby Dinero
"The free market works, if you let it... but part of
Jkcarter3599 10 posts, incept 2022-11-01
2023-03-01 11:03:36

There is no way for a financial system run on the principal of lending money to avoid the system collapse after 75 to 80 years. The cycles last just long enough for the "lenders" to foreclose on all real assets. Then you start over, with a new bunch of idiot borrowers (mostly governments). Of course, you have to import debt free third worlder idiots to accomplish this. Anyway, the outcome I would like to see is that the Posterity wakes up (fat chance), hangs all culprits from lampposts (not gonna happen), repudiates the debt, eliminates the federal government (I make myself laugh), and goes back to local, local, local. Hey, guy can dream, can't he?
Neal 288 posts, incept 2014-01-09
2023-03-01 11:13:15

@Joancrawford. There are not many rug munchers these days. What with depilation and waxing they are now lino lickers.
And Pete Buttplug could or never get elected, the faggot is so white but wants to be whiter with anal bleaching.
Baltgayveteran 153 posts, incept 2021-09-16
2023-03-01 11:38:56

@Heyjackass: "...Unfortunately, Chicago hasn't hit rock bottom yet, and Let's Go Brandon is the ideal candidate to slam into said bottom and keep going...."

you mean Beetlejuice wasn't the worst candidate??? How is that even possible???
Baltgayveteran 153 posts, incept 2021-09-16
2023-03-01 11:39:03

@Neal: "...And Pete Buttplug could or never get elected, the faggot is so white but wants to be whiter with anal bleaching."

thanks Neal, now I need some bleach for my brain to get that image out
Kennington 392 posts, incept 2013-09-12
2023-03-01 11:39:13

Perhaps Lori should start a dance instructional school...?
Ingar 498 posts, incept 2017-02-14
2023-03-01 11:39:29

@Joancrawford I never read the Dilbert strip and was unaware of Scott Adams until reading of his turnaround on the clot shots in market-ticker. Evidently all his customers were cancelling his work, most likely in fears that they might lose some of their 10 black readers just as they had spent millions on a campaign to raise the number to an even dozen. If he is picked up again, it will be for a much lower price because of rayyycisss.

Now that mayor Lori has been told AMF by the voters she'll be looking for some new goals/projects. Perhaps she and Hitlery C will team up to co-author "101 Carpet Munching and Scissoring Tips". I'd bet that there are publishers who'd pay a lot for the publishing rights to such a tome.

I have a cousin living in a suburb west of Chicongo. I've suggested that he GTFO of Illinois before homeowners taxes are raised to the stratosphere to pay for all of the generous state funded pension plans. He seems oblivious to the fact that it will happen. Who wants to buy a house with sky high taxes. The selling price will drop dramatically once the taxes go up.
Thelazer 1k posts, incept 2009-05-11
2023-03-01 11:52:49

Was in Chicago last year. I can't tell you the amount of folks who outright apologized for there city. A few of them even said directly "don't worry she will be gone next year, the police unions don't like her."

I'm going to take the slight view that it MIGHT, JUST MIGHT get cleaned up.

Mrbobo 127 posts, incept 2021-12-01
2023-03-01 11:59:56

I still think we fooked.
One time Karl was on SnJ, Chief wondered whether it was actually better for everyone under the old corrupt city regimes ala Daley in the sense everybody knew and abided by the (defacto) rules and progress generally occurred.
Now, the average person lives intimidated by law (enforcement) while criminals, including the 535 on Capitol Hill, fear and face little consequence.
Eleua 21k posts, incept 2007-07-05
2023-03-01 12:00:53

I'm going to take the slight view that it MIGHT, JUST MIGHT get cleaned up.

Diversity + proximity = WAR

-They wanted camps; I want ropes.
Cmoledor 1k posts, incept 2021-04-13
2023-03-01 14:07:19

We certainly are not exempt from what history teaches. Nations come and go. And so will we. Its just our turn. That makes me sick to contemplate but facts are facts. Especially the mathematical ones. Always a pleasure to read these pages. Cheers all.

The whole world is one big fucking scam
Why are you giving a vulgarity warning here? Our genial host is an advocate of both skullfucking and sodomy via rusty chainsaw. Credit to Rollformer
Dbigkahunna 617 posts, incept 2010-01-10
2023-03-01 14:07:51

I want to think with Groot gone there's opportunity. But Chicago proves time and time again while the cream will come to the top in milk, gassy turds float in effluent.
I feel sorry for those in Chicago today. If you are still there by 2030 through optimism or inability to walk away, you deserve the dry anal examination you are going to get.

Blessed, Grateful and Living a Dream
Merkinmuffley 92 posts, incept 2021-09-10
2023-03-01 14:08:18

Not 6 or 8%, 100% over the last year or two, and that has to come back out because without it you can't possibly restore balance and the capacity of Americans to earn a decent wage and have a decent life.

I saw a chart yesterday that showed German real machinery and equipment investment down 6.8% compared to Q1 2019 and 18.6% below trend (basically the de-industrialization of Germany many have been expecting). Yet this morning German CPI still came in "hotter than expected." Put those together and I don't see how the German worker ever recovers the standard of living they enjoyed previously.
Blanca 527 posts, incept 2020-07-25
2023-03-01 14:10:27

Not 6 or 8%, 100% over the last year or two, and that has to come back out because without it you can't possibly restore balance and the capacity of Americans to earn a decent wage and have a decent life.
Company raise pool under 4% this year.
Jazen 4k posts, incept 2007-07-17
2023-03-01 14:10:40

I doubt the new boss will be any different than the old boss.
I don't really care, tbh. Let it burn.
I do enjoying pointing out to people that we have to have deflation in order to kill inflation. Folks are so dumb.

I hate our Government, but I still love America.
Dingleberry 684 posts, incept 2011-11-06
2023-03-01 14:10:52

Ah Chitcago......I lived near there a fair bit.

There was an invisible fence along the Mag Mile about at the Chicago river (now affectionately known as the "mug mile"). Kept out the thugs and undesirables. And despite being insanely and outlandishly corrupt (it is a demcrap machine after all)...the city has so much money and draw that the vig could be paid to the dems and assorted crooks and yet still be functional. The corruption is that bad, and open. And endemic. And the voters have NO PROBLEM WITH IT. Hence why they vote for the same over and over again. They want their cut too.

Chicago was, despite being in the midwest, an international city due to Ohare and ungodly amounts of tourists. But downtown was fairly clean, safe and I would say lots of fun. I have pleasant memories of Chicago.

But that was then.

Now it is a feral wasteland, two-legged animals running completely and totally amok, a true testament to what happens when you go full blue zoo.

The good woke demcrap denizens (they are nearly all demcrap there---repubs rarely even run) elected a black female lesbo with--in her words--"the biggest dick in Chicago".

The woke "trifecta" right there!!!!

Alas....with predictable, disastrous results.

But you "progressives' are gonna learn one day, and no doubt the hard way, that money is one thing. Culture is another. And when the latter goes to shit due to the former being all stolen.....look out below!!!

Today I would not stop to take a dump in Chitcago, even if I had to. Good riddance. Wall it all off.

As for inflation and easy money ....I am no expert in economics and know just enough maff to get by.....but in my decades on this floating rock watching the Fed I have learned one paramount lesson: the ONLY "inflation " they care about is wage inflation. And Cash n' Carry said as much today. They will lie, obfuscate, substitute, hedrnically adjust, and use other statistical LIES to keep us plebes falling further and further behind.

Most of you reading this took a real pay cut last year. Did you notice?

The Fed hopes you didn't.

Flappingeagle 5k posts, incept 2011-04-14
2023-03-01 14:13:21

In short the cash furnace games, which include the medical system writ large, have to stop -- and stop now.

I have little hope for it actually happening, but that's what must happen. Its not an option, because to not do so winds up with us losing our way of life -- probably permanently. If you think a Venezuela or similar can't happen here, you're wrong. It not only can it will if we don't cut it out -- stock and house prices be damned.

Cheap money will eventually destroy everything. If you are a wheeler-dealer or politician it can be great for as long as it lasts but eventually it will destroy everything. The cheap-money folks got their 2008 save and their Covid save but, the jig is now up.

The fork in the road has been reached. Inflation or hellacious recession, those are the choices.


Here are my predictions for everyone to see:
S&P 500 at 320, DOW at 2200, Gold $300/oz, and Corn $2/bu.
No sign that housing, equities, or farmland are in a bubble- Yellen 11/14/13
Trying to leave
Abelardlindsey 1k posts, incept 2021-03-26
2023-03-01 14:14:28

I would think that Chitcago could fall a lot further. After all, it could end up like Detroit. Speaking of leftist politicians fucking up cities, downtown Portland is a mess these days. We (my wife and I) used to go downtown nearly every weekend around 2015 or so. These days, we might go down there once or twice a year. Crime has increased dramatically over the past three years where it is no longer safe in downtown at night. The Oregon governor now wants to hand out $1000 per month to the homeless. Stupid is what stupid does.

Its all in the mitochondria
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