The Market Ticker - Cancelled ®
What 'They' Don't Want Published
Login or register to improve your experience
Main Navigation
Sarah's Resources You Should See
Sarah's Blog
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 any firm or security discussed here, and have no duty to disclose same.

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.

2025-03-28 07:00 by Karl Denninger
in Podcasts , 14 references
[Comments enabled]  
Category thumbnail

Come and get it!  First of three in a Podcast Series with Sarah.

View this entry with comments (opens new window)
 

2025-03-26 07:00 by Karl Denninger
in Musings , 42 references
[Comments enabled]  
Category thumbnail

This smells like dead, rotting fish.

Two illegal immigrants from Mexico were arrested and charged Friday for allegedly molesting a minor on a Royal Caribbean cruise off the coast of Miami.

Jose Prudencio Diaz, 36, and Ricardo Daniel Mondragon Leal, 37, are charged with child molestation and exhibition on a child in connection with an incident that occurred on an Independence of the Seas cruise.

Additionally, Diaz is charged with having sex with another person without disclosing his HIV infection, and Leal is charged with sexual battery of a minor, according to arrest records.

How did they get on the ship?

To board a cruise you must present, if a citizen of the US and the ship is sailing from and returning to the US, either a valid US Passport (with six months remaining on it) or a certified birth certificate and if over 16 a federal or state ID (e.g. Driver License.)

If you're not a US citizen then you must present a passport and proof of lawful entry into the US such as a Visa or waiver processing (as is the case for many nations in the EU.)

No documents, no boarding.  Period.

So....... 

Yeah, that question.  And I've taken several cruises -- including on Royal.  Yes, using a passport, and yes, they check it, and no, it can't be the card either -- it has to be the book.

The only other way they should have been able to get on board is if they were employees, which is an even worse problem for obvious reasons.

So how did they get on the ship?

Royal Caribbean has a problem here......

View this entry with comments (opens new window)
 

2025-03-25 07:03 by Karl Denninger
in Podcasts , 66 references
[Comments enabled]  
Category thumbnail

Yep.

Come over here and check out the latest "Coffee and a Mike" podcast -- get it a day early if you prefer, or wait for the Rumble.

I'll update this of course when the Rumble releases....

And..... here it is!

https://rumble.com/v6r7j2i-howard-lutnick-all-in-podcast-sovereign-wealth-fundtariffs-karl-denninger.html

 

View this entry with comments (opens new window)
 

2025-03-24 07:00 by Karl Denninger
in Editorial , 101 references
[Comments enabled]  
Category thumbnail

No, neither TdA or any other illegally-present person, nor anyone who has violated the terms of their lawful entry into the United States is entitled to due process beyond clear establishment of those facts.

Oh, I know, you say the Fifth Amendment (and 14th) say otherwise.

You're wrong and I don't give a flying **** what any judge (or anyone else) says to the contrary; this is basic logic and jurisprudence which all judges know or their only rightful seat is found in an asylum.  If you don't then you're either ignorant or deluded.  Since ignorance can be cured with knowledge I'll lay some basic facts on you.

This is an immutable fact: You never gain title or a right of possession, whether the thing is tangible or not, to something you never lawfully had, no matter how long you have it or how you launder it.

To have a right to possess something you must come to have it through lawful means.

Let's say you buy a car from someone -- or even from a dealer.  The individual who sold it to you, or who sold it to a dealership, stole it.  You purchase it, you give said person money, you register and insure the car and then drive it for some period of time.  The theft is not in the computer at the time so the transaction appears to be all good.

You don't actually own the car no matter how much time passes nor does anyone who subsequently buys it from you and neither you or any subsequent buyer have any due process right to possess it for even one second, nor will you continue to possess it for any amount of time if and when the theft is discovered.  The vehicle will be immediately seized by the authorities and returned to its rightful owner as soon as it can be established that it in fact was stolen.

You have no due process right to that property beyond the establishment of the fact that it was stolen originally despite the 5th Amendment's allegedly iron-clad protection on due process of law because you could only have any claims over same subject to due process if you had a lawful right to the thing in the first place.  Not only that but its your problem to recover the funds you paid for said stolen property -- and if the person you gave them to doesn't have the money tough ****; that still does not give you a right to continue to possess the vehicle.

If you illegally enter the United States you have no due process rights at all once it is discovered and established you unlawfully entered the country and it makes no difference how long you've been in the country or what you did after your illegal entry.  The fact that you entered the nation unlawfully is an absolute and final END to any right of inquiry you might have.

Neither the 5th or 14th Amendment confers anything beyond that because you never had a right to liberty in the United States since you were never lawfully present here.

I don't give a wet **** what some judge says whether its a district court judge OR A SURPREME COURT JUSTICE.

In short that which you never had in the first place you cannot litigate because you never lawfully possessed it and thus have no standing to litigate that issue -- just like you cannot claim a right to Musk's billions "just because equity this or that"; you have never had a lawful right to a single dollar of his funds.

If you think this is a "fringe" or "lunatic" position are you really going to argue that if 100,000 Chinese and Mexicans storm the border with rifles you can't dispatch them immediately with your rifle without arresting them and giving them due process of law first?  THAT IS IN FACT YOUR POSITION IF YOU ARGUE AN ILLEGAL ALIEN HAS "DUE PROCESS" RIGHTS AND CANNOT BE SUMMARILY REMOVED.

You're not that crazy, are you?  If you are then **** you and may both you and your entire family be on the business end of any such lethal assault as you are clearly willing to sacrifice Americans for your own twisted political purpose by deliberately and maliciously twisting what is actually in the Constitution into the protection of a murderous mob which, in some instances (but not all) might be called an actual ARMY.

There is a name for levying war against your nation and its citizens, which I NEVER use lightly but in fact is in place here: TREASON.

Yes, I'm willing to go war over this because if you in any way permit or sanction such acts said war has been declared upon me and you are either directly responsible or a direct enabler of those who did so.  Once that occurs, and you had damn well better think about it long and hard before doing it, there are no more polite society rules and laws involved nor can you appeal to them.  Then it is simply either "**** you" or maybe it will be "**** me" as by your actions you have decided we are now playing the game of Scoreboards and after the first score all the rest are free so think very carefully and fully before you invoke that.  There is no "I'm sorry" -- or taking it back -- once that line is crossed.

I have no desire to go there -- but I'll quote Thomas Paine on this and stand by his wise words:

“If there must be trouble, let it be in my day, that my child may have peace; and this single reflection, well applied, is sufficient to awaken every man to duty.”

If you think this is some sort of US-centric thing whatsoever go ahead and cross into Canada under false pretense -- for example, tell them you're a tourist and having made that false representation actually shoot a wedding as a professional photographer.  An ordinary consensual business transaction with no violence for anyone, right?  Doesn't matter; when caught, and there's good odds you will be, you will get no due process of any sort, you will be summarily ejected from the country and barred from re-entry, possibly permanently.  There are plenty of Americans who have tried to play fast and loose with what we considered a civilized nation (Canada) in this sort of fashion and have discovered this the hard way themselves.

Roberts as the Chief Justice of the USSC has an obligation to actually honor both basic principles of logic and what the Constitution says.  Yes, the Constitution, as amended by the 5th, 6th, 14th and other Amendments does guarantee that "no person" may be deprived of life, liberty or property without due process of law nor deprived of equal protection under the law.  That is true.

But you cannot be deprived of what you never lawfully possessed in the first place; you never acquire rightful possession or title to a stolen or unlawfully-acquired thing irrespective of the amount of time that has passed.

Since you never had a right to liberty in the United States if you enter the nation illegally you are not entitled to anything other than immediate forcible removal as your entry was criminal in the first instance and, if you had previously been deported it is a felony.  Now if we're going to prosecute and imprison you here in the US for that criminal act then yes, you're entitled to due process before we throw you in prison because now we're retaining you here in the US against your will and thus Constitutional protections apply but in the alternative we can simply eject you from the United States on a summary basis as you have no right to be here and thus no liberty interest in taking so much as one step on our soil that you can be deprived of.

PERIOD.

I'm done with sophistic bull**** and the government, including judges and their overseers up to the USSC can either start enforcing the Constitution within its limits which means no illegally-present person has a right to prevent their own summary removal from the US, irrespective of the passage of time or any other consideration, as they never possessed a liberty interest in the United States in the first place, or I'm perfectly fine with any individual here in the United States deeming that every single judicial body member cannot have a criminal offense committed against them as they have self-declared themselves and their families to be outside the boundaries of law in all respects -- up to and including the Constitution.

View this entry with comments (opens new window)
 

2025-03-22 07:00 by Karl Denninger
in Corruption , 515 references
[Comments enabled]  
Category thumbnail

most of what government does is legitimate.  Pinky-promise.

Uh huh.

FMCS is a 230-employee agency that exists to serve as a voluntary mediator between unions and businesses. As an “independent agency,” its director nominally reports to the president, but the agency is so small that in effect, there is no oversight at all — and it showed, becoming a real-life caricature of all the excesses that the Department of Government Efficiency has alleged take place in government.

This reporter spent a year investigating the agency a decade ago, and I found egregious and self-serving violations of hiring, pay, contracting, and purchase card rules. One thing I could not discover is why the agency actually existed, other than to provide luxurious lifestyles for its employees. Endless junkets to resort destinations, which employees openly used to facilitate personal vacations, were justified as building awareness of the agency in the hopes that someone would actually want to use its voluntary services.

All of this was illegal.

But more to the point this is precisely how the United States sold the American people, and everyone else in the world, on our "involvement" at Maidan -- and set in motion what turned into a war with a huge number of dead Ukrainians.

Oh, you think not?  This is hyperbole?  Were you smoking weed while McCain was over there giving a speech, or perhaps while snipers were shooting protesting civilians -- exactly zero of whom, I remind you, in the decade since have been identified, arrested, tried and punished.  Is that not fairly decent evidence on who's "side" said snipers were?

What was the bottom-line argument for Maidan?

Yanukovych's looting, including allegedly a golden toilet, which became a symbol and synonym for that government's time in power, was both symbol and substance of why he was ejected from power by force.  He was ultimately deemed guilty of treason and there is an active Interpol warrant out for his arrest.

As I noted in a previous column the problem with fraud as a business model if it gets embedded into something is that it becomes an exponential function (Y^xwhich rapidly consumes and surpasses the legitimate output of that thing.  If, for example, 20% of a thing becomes fraud-as-a-business over five years that will consume the entirety of the legitimate output and half more, and over ten years it will rise to become more than FIVE TIMES the legitimate output of said thing.

You cannot "reform" any entity where such has occurred by nibbling around the edges; you can only excise every element of it and imprison those who engaged in it because you either stop it entirely or for all intents and purposes whatever "good" that original thing used to do is reduced to nothing on a percentage basis and if the good can be perverted to serve the fraud it will be and then you do actual harm.

Medical care anyone?  The kid with "measles" who died recently in fact died of pneumonia.  We've known for decades how you treat pneumonia; it nearly always has a bacterial component so you hit it with antibiotics (these days the correct choice is usually macrolides such as Zpak) and inhaled steroids such as budesonide -- and if you don't get an immediate response on the first antibiotic you hit it again with another one added into the mix.  Both are cheap and neither has any material probability of hurting the person if it turns out there is no secondary bacterial infection (unlikely but possible) and the damage is being caused directly by viral activity.  The reason the "Spanish flu" killed so many people was that we had no antibiotics at the time and thus if you developed pneumonia we had no effective treatment for it.

But in this case they didn't do that and the kid is dead.

Why?

Was it because the medical system -- including that hospital -- wanted a totem to stoke fear of measles among the population (and perhaps attack RFK politically) to drive more vaccine uptake and a kid that went into the hospital, got antibiotics and a few puffs off a budesonide inhaler, recovered and was discharged in two days with now-lifetime immunity to measles would not serve that purpose?

Good question.

And one we won't demand answers to, even though it has been known for decades that what they didn't do is what you do if someone presents with pneumonia rather than sticking them on a ventilator.

Another example of this crap in the medical system is AARP and UNH.  AARP now collects four times as much in kickbacks from sales of Medicare Advantage plans as it does in dues.  May I remind you that the anti-kickback statute I referenced before facially appears to apply here as this is a federally-funded medical program (Medicare) and the penalty for everyone involved in doing that sort of **** is supposed to be ten years in prison.

Now contemplate that "agency" (FMCS) referenced in the linked article at the top.  "Oh its just a small agency, a couple hundred people which is nothing."

Uh huh.

Every one of those employees and all the contractors they do business with needs a place to live.  Their wildly-accelerated "standard of living" as a result of said fraud ****ed every other person in that area by raising their cost of living because they were bidding up everything in the area due to their outrageously-expanded "income" -- all stolen in exchange for no legitimate work output.

The same applies to every teacher who is employed and gets a paycheck but in fact can't teach, as evidenced by, as one example, zero of several school's pupils being competent at grade level.  It is immaterial what the root cause of that is; the fact is that every single dime paid to said "teachers" was paid to them in exchange for nothing of value as measured by the expected output in student progress.

This is not "victimless" because every one of those teachers and administrators bids up the price of everything where they live and by doing so screws every other person who lives there.

The same applies to every employee of UNH and AARP, all of whom have wildly increased spending power as a result of these schemesand every single person who lives anywhere near any of those employees has been getting it up the ass for two decades as a direct result.

I prefer prison to guillotines but the judiciary that is blocking putting a stop to this **** and every other government and private entity involved needs to understand quite-clearly that this sort of wild-eyed robbery and the inevitable mathematics if  they allow it to occur and continue is exactly how both a crazy Austrian painter, with all that followed and the current Ukraine war happened.

It will happen again if we do not cut it out right now as the curve has gone vertical on the cost to everyone.

View this entry with comments (opens new window)