Keyword: denninger

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  • "I demand..." and?

    07/12/2014 4:07:50 PM PDT · by SatinDoll · 23 replies
    The Market-Ticker ^ | July 11, 2014 | Karl Denninger
    This is so cute.... "Gov Rick Perry has long been an advocate for border security. And since 2012, Gov. Perry has been warning President Barack Obama that a crisis is happening on the border between Texas and Mexico." "Today, President Barack Obama met with Gov. Perry to hear his concerns." "If you are like Gov. Rick Perry, and you agree that the federal government must take responsibility and secure our border, sign this petition." "Sign the Petition: Yes, I join Gov. Rick Perry in demanding the federal government take all necessary steps to secure our southern border." * * *...
  • Oh Look, It's Back! (Sustainable Development)

    03/23/2014 8:47:10 AM PDT · by SatinDoll · 29 replies
    The Market-Ticker ^ | March 23, 2014 | Karl Denninger
    How did this manage to find its way into print? Civilization was pretty great while it lasted, wasn't it? Too bad it's not going to for much longer. According to a new study sponsored by NASA's Goddard Space Flight Center, we only have a few decades left before everything we know and hold dear collapses. The report, written by applied mathematician Safa Motesharrei of the National Socio-Environmental Synthesis Center along with a team of natural and social scientists, explains that modern civilization is doomed. And there's not just one particular group to blame, but the entire fundamental structure and nature...
  • Why I Cannot Support CCW Permits

    01/16/2014 10:42:36 AM PST · by Rusty0604 · 60 replies
    Market Ticker ^ | 01/16/2014 | Karl Denniger
    According to Filippidis and his wife, Kally, they noticed an unmarked patrol car tailing them while traveling for Christmas and a family wedding in Woodridge, N.J. He claims the police car stayed with them for ten minutes. “We weren’t speeding. In fact, lots of other cars were whizzing past,” Filippidis told the Tampa Tribune. Eventually, the car’s emergency lights came on and he pulled the car over. The officer was reportedly with the Transportation Authority Police, “Maryland’s version of the New York-New Jersey Port Authority,” according to the report. It appears he was pulled over because of either an automated...
  • There Is Only ONE Peaceful Path Left To Avoid Destruction

    10/25/2013 8:02:43 AM PDT · by Attention Surplus Disorder · 58 replies
    The Market Ticker ^ | 2013-10-25 | Karl Denninger
    Folks, if you have read me recently you know that I've said that you are the problem and that the reason this is true is that you won't go on strike, you won't picket DC and refuse to leave until the government stops stealing from you and debasing the currency, you won't reduce your spending and income to only that which provides necessities, and most of you go on to justify your behavior with "my kids (and/or family) deserve what I can provide." You're fools and I'm going to prove it. Further, I'm going to prove -- by arithmetic --...
  • Yes, This Is YOUR Fault

    10/20/2013 12:59:45 PM PDT · by kiryandil · 61 replies
    The Market Ticker ^ | October 18, 2013 | Karl Denninger
    Read carefully folks, get up, go look in the mirror, and then punish yourself as you see fit for putting people in the street in this fashion, because it is your fault and you are responsible for it: Freeland lived with family for a time, she said, and four months ago moved into transitional housing funded by the city government in Washington, D.C., while searching for work that pays more than her $8.25-an-hour retail job. Having lost her oldest son in a 2000 homicide, Freeland said she insists on looking for housing in a safe neighborhood for her surviving one, now...
  • Karl Denninger (Market Ticker) Goes Dark for Three Days in Protest

    10/11/2013 5:49:58 AM PDT · by randita · 2 replies
    The Market Ticker ^ | 10/12/13 | Karl Denninger
    The Market Ticker is offline from October 11th-13th as a deliberate act to reduce to zero my economic activity, and thus taxable income, for those three days. On 9/11/2013 I went dark to protest the NSA's unconstitutional and outrageous acts of spying against American Citizens -- acts they claimed at the time were "catching terrorists" but which they were later forced to admit had interdicted not dozens of plots but perhaps "one or two." Despite this forced admission our Congress has refused, thus far, to force the dismantling of these outrageous, unconstitutional, ridiculously expensive and abusive programs. But the NSA...
  • It's Called Evolution, Gentlemen (Karl Denninger vows to go "John Galt")

    09/29/2013 6:47:36 PM PDT · by randita · 50 replies
    Ticker Forum ^ | 9/28/13 | Karl Denninger
    In 2007 I began writing The Market Ticker due to the outrageous conduct of various branches in the Administration and portions of the Capital Markets. Endemic fraud in the financial system that had generated unbridled and outrageous credit creation threatened the collapse of our entire economic system. The consequence of this should have been thousands of indictments, prosecutions and imprisonments -- of banking executives, of members of Congress, of various executive branch officers in various agencies and more.  The banking system should have been forced to match assets to liabilities and either put up the margin to back their bets or...
  • Mr. Keating: Go Suck An Egg

    09/28/2013 1:14:54 PM PDT · by SatinDoll · 2 replies
    The Market-ticker ^ | Sept. 28, 2013 | Karl Denninger
    You know me too, Frank -- we met at McStain's campaign shindig at the University Club in Washington DC in the summer of 2008. I recall that you and Governor Ridge both refused to take a stand on all the frauds in the mortgage market -- the very frauds that just a couple of months later led to the failure of Lehman, the market crash in general and the ensuing disaster. It figures that you're now the President and chief executive of the American Bankers Association [ABA]. It must be really, really awesome to have your candidate suspend his campaign...
  • BEN BERNANKE'S FOLLY

    09/19/2013 8:17:02 AM PDT · by SatinDoll · 26 replies
    The Market-ticker ^ | Sept. 9, 2013 | Karl Denninger
    This much has been determined yesterday -- The Fed could not handle a 2.8% 10 year Treasury rate. Nor could it handle any further increases. But consideration of the impact of this policy on the common man, along with the destruction of purchasing power and outright theft from the people who produce the services (and few goods remaining) in this nation was damned -- exactly as has been the case for the last three decades. What Bernanke did yesterday was guarantee a crash. He guaranteed it because he took what was a clear opportunity to take what had been priced...
  • Mr. Lew: *** (Debt Limit)

    08/27/2013 7:08:41 AM PDT · by SatinDoll · 6 replies
    The Market-ticker ^ | August 27, 2013 | Karl Denninger
    [To Moderator - the title contained an obscene reference for one to do something physically impossible to oneself.] Mr. Lew, I know you continue to say that the Congress has "no choice" but to raise the debt limit. You're wrong. Congress has the choice to say no. You have a credit card but the limit is set not by your King but rather by Congress. And Congress has the right to cut that card up any time it so chooses. So says the Constitution: Article I Section 8: The Congress shall have Power To lay and collect Taxes, Duties, Imposts...
  • The Lawless Dictator

    08/24/2013 4:59:12 PM PDT · by SatinDoll · 39 replies
    The Market-ticker ^ | August 24, 2013 | Karl Denninger
    Are we, the people, going to allow yet another unlawful military action to take place? Defense Secretary Chuck Hagel suggested Friday that the Pentagon was moving naval forces closer to Syria in preparation for a possible decision by President Obama to order military strikes. Hagel declined to describe any specific movements of U.S. forces. He said Obama asked that the Pentagon to prepare military options for Syria and that some of those options "requires positioning our forces." I don't seem to recall a Declaration of War by Congress. And there is certainly no exigent emergency that requires an immediate response...
  • You Sniveling Cowards

    08/23/2013 7:05:42 AM PDT · by SatinDoll · 26 replies
    The Market-ticker ^ | August 23, 2013 | Karl Denninger
    Last night I had a surreal experience at the American Legion building in Ft. Walton. If you live around here, you know where it is. There's a tank out front. It's a patriotic place. Last night it hosted The Republican Club of Okaloosa County for their regular meeting, dinner and a speaker -- in this case, Jeff Miller (R-FL-1) The food, hospitality, and crowd were a nice change from my usual evening routine (that often includes a nice hard run) but the surreal began when Mr. Miller stepped to the microphone. What followed was an astonishing display of fear, cowardice...
  • Detroit: The Shape Of Things To Come

    07/19/2013 9:19:20 AM PDT · by SatinDoll · 24 replies
    The Market-ticker ^ | July 18, 2013 | Karl Denninger
    Listen up folks, after you read the bankruptcy filing for Detroit. 1. Right now, the City cannot meet its basic obligations to its citizens. 2. Right now, the City cannot meet its basic obligations to its creditors. 3. The failure of the City to meet its obligations to its citizens is the primary cause of its inability to meet its obligations to its creditors. 4. The only feasible path to ensuring the City will be able to meet obligations in the future is to have a successful restructuring via the bankruptcy process that recognizes the fundamental importance of ensuring the...
  • TO THE GOVERNMENT: NOW YOU'RE F*ED (Zimmerman Fiasco)

    07/14/2013 2:34:51 PM PDT · by SatinDoll · 37 replies
    The Market-ticker ^ | July 14, 2013 | Karl Denninger
    A very interesting thing happened in the Zimmerman fiasco. The state, in its closing rebuttal arguments, appealed to the hearts of the jury, not to the evidence. Florida is an odd state when it comes to criminal law. In most states the prosecution gets its closing argument, then the defense. In most states the defense goes last, which is in line with the premise that one is innocent until proved guilty, and the defense gets one last stab an introducing reasonable doubt. But in Florida the prosecution gets a rebuttal -- they get the last word before the jury retires...
  • UPS Warns, Dives

    07/12/2013 8:48:48 AM PDT · by Kartographer · 29 replies
    Market-Ticker ^ | 7/12/13 | Karl Denninger
    United Parcel Service Inc. (UPS) cut its full-year earnings forecast and said second-quarter profit was below expectations, citing a slowing U.S. economy. The stock dropped 4.3 percent in early trading.
  • It's Simple: Adjust Your Expectations Or Die

    07/05/2013 11:54:32 AM PDT · by SatinDoll · 5 replies
    The Market-ticker ^ | July 5, 2013 | Karl Denninger
    There are a lot of hard-headed people out in the investment and banking world. Most of them are hard-headed because they have never known anything else. A few are a bit smarter -- they know that their business model is cooked if the underlying assumptions change and they're being intentionally dishonest in trying to grab the last few nickels in front of the steamroller, and to hell with you (their customer.) Then there are those who have it figured out and are attempting to find a way to adapt to what is going to happen. More than 30 years ago...
  • WE GOT PROBLEMS...[Economic Collapse Problems]

    06/28/2013 12:16:30 PM PDT · by SatinDoll · 21 replies
    The Market-ticker ^ | June 28, 2013 | Karl Denninger
    Greece and, for that matter, the rest of Europe are showing cracks again this morning. The Dollar is screaming higher (how's that "dollar collapse" thesis working out?) Gold is around $1,200; up fractionally on the day, but in general not in good shape -- and making a mockery of the "Gold to $5,000" callers. Interest rates are again going up, while The Fed is trying to claim that they really didn't say that they were going to taper. But that's a lie, because they have to stop the QE. This isn't about wanting to exit, it's about being forced to...
  • NSA: Lies And More Lies

    06/14/2013 8:39:28 AM PDT · by Rusty0604 · 5 replies
    Market Ticker ^ | 06/14/2013 | Karl Denniger
    The head of the country’s National Security Agency testified Wednesday that surveillance has stopped “dozens” of potential terrorist attacks by looking at the phone records, emails and other Internet searches of people suspected of terrorism-related incidents. I will note that there was not one challenge to Alexander's statement. This means, incidentally, that The Senate is intentionally complicit in his lie. Why do I level this charge? Because terrorism, and attempted terrorism, is a crime and to the extent that it occurred in the United States those crimes would result in arrests, indictments, prosecutions and convictions, none of which are or...
  • Obama: Now You're ******

    06/03/2013 9:52:33 AM PDT · by blam · 53 replies
    The Market Ticker ^ | 6-3-2013 | Karl Denninger
    Obama: Now You're F*ed The Market Ticker ®Karl Denninger June 3, 2013 Hoh hoh hoh.... 'Did [your supervisor] give you any indication of the need for the search [for tea party groups], any more context?' one IRS witness was asked in a closed-door interview. 'He told me that Washington, D.C., wanted some cases,' came the reply. The employee, who said he or she was evaluating 40 such applications for tax-exempt status from conservative organizations at the time, said 'some went to Washington. D.C. ... I sent seven.' They'll find the evidence of this; emails, phone records, whatever. It exists and...
  • 5 POINTS TO PONDER ON MEMORIAL WEEKEND

    05/26/2013 3:39:40 PM PDT · by SatinDoll · 37 replies
    Market Ticker ^ | May 26, 2013 | Karl Denninger
    As you prepare to grill out your steaks and fly your flags, take time from the swilling of beer to consider the following. Our government is completely out of control. Benghazi, Fast-n-Furious, IRS Abuse, 100,000 perjured affidavits, phony securities marketed under false pretense, Congressional force used to commit accounting fraud, money lanudering and more. There is no longer a rule of law; the Golden Rule has been turned into "Do unto others, run like hell and, if caught, bribe Congress or threaten economic collapse." While that contains a slight amount of hyperbole, the operative word there is "slight." There is...
  • The Most-Corrupt Administration Ever?

    05/18/2013 12:37:51 PM PDT · by Kevin in California · 26 replies
    The Market Ticker ^ | 05-18-2013 | Karl Denniger
    •Fast And Furious (guns for drug lords, resulting in murder of Americans and Mexicans)
  • That's Enough: Two Schools On The Hiring BLACKLIST ("I'm Done With This Crap")

    05/02/2013 7:24:35 AM PDT · by blam · 25 replies
    Market Ticker ^ | 5-2-20134 | Karl Denninger
    That's Enough: Two Schools On The Hiring BLACKLIST I'm done. I may never create another business and hire another person due to the insanity of our government and its policy of destroying my incentives to do so (despite having several buildable ideas that I could turn into businesses right now) but I have a very long memory, and it's near-photographic. This much I promise -- there are two school districts that have, as of this morning, had their diplomas turned into toilet paper. The same applies to any employee of said schools and the entire school board -- if you...
  • The Left-Wing Lie Machine Takes A Mortal Blow

    04/24/2013 8:20:02 AM PDT · by Attention Surplus Disorder · 17 replies
    The Market Ticker ^ | 2013-04-24 | Karl Denninger
    Oh the irony! U.S. authorities were on their way to a mountainous region in southern Russia to interview the parents of the Boston Marathon bombing suspects, as more details emerged about the brothers' recent activities in the U.S., including word of where the deadly explosives may have been purchased and that the family relied on welfare for at least some of their time here. The brothers hated America. They loved, however, "transitional assistance benefits" -- in other words, welfare. That's right folks -- we paid these clowns to live while they were radicalizing themselves and declaring that America was "the...
  • Thoughts The Next Morning

    04/21/2013 4:40:36 PM PDT · by Vince Ferrer · 169 replies
    Market Ticker ^ | 4/20/2013 | Karl Denninger
    I have a general policy that when something*****es me off enough to want to throw things at my TV I go have a drink and refuse to write on it until having slept first. Sometimes I wake up with a different perspective. And sometimes not. This is one of the "nots." Last night, unless you live in a cave, you know that the second bombing suspect was captured alive. The first one died from a combination of bullets and being run over by his brother in a carjacked vehicle trying to escape. Yeah, that really nice kid who we now...
  • Gold And Silver Crash - Don't Be An Idiot

    04/16/2013 6:08:57 AM PDT · by blam · 29 replies
    The Market Ticker ^ | 4-15-2013 | Karl Denninger
    Gold And Silver Crash - Don't Be An IdiotKarl DenningerApril 15, 2013 Don't do it folks. There's no "reflation" trade. Nor is this "manipulation." There is one thing to watch, and that is if the physical commodity at real, no-BS volume sources de-couples from the futures price. This is a nightmare scenario as it posits the imminent destruction of the capital market structure, since futures are allegedly deliverables. That is, if I own a gold mine and know I can dig gold out of the ground for $1,200 an ounce "all-in" I will short whatever I'm sure I can deliver...
  • Obama And Francine Wheeler's New Low

    04/13/2013 11:39:02 AM PDT · by Ultra Sonic 007 · 15 replies
    The Market Ticker ^ | 04/13/2013 | Karl Denninger
    I rarely go after private citizens in my column. Today I'm going to make an exception and the reason is that this person inserted themselves, on their own volition, into an attempt to violate every man, woman and child's fundamental right to life. By doing so they have turned themselves into public figures and as such lose any such pretense of "privacy" in their opinion nor do they have a legitimate shield from the equally-public response by those who they offend. I speak of Francine Wheeler, specifically, who Obama trotted out this morning like a puppet to try to press...
  • The Chart That Will Crash The Market

    04/03/2013 4:37:24 PM PDT · by Kartographer · 17 replies
    Market-Ticker ^ | 4/3/13 | Karl Denninger
    That's it. And the ADP report this morning is showing the pathway to recognition, as construction has stalled and the destruction of job creation in small and mid-sized businesses exposed to Obamacare will finish it off. I continue to maintain that we're in a time very similar to 2007, when the facts were on the table. Banks paying dividends with money they didn't have. Hedge funds that blow. Bubbles in crazy places, then housing, this time in subprime car lending, student loans and even Bitcon. The transports are telling you that all is not well. CAT is confirming it. Copper...
  • Cyprus: Once Again, For Those Who Are Sleeping

    03/27/2013 9:38:18 AM PDT · by Kartographer · 32 replies
    Market-Ticker ^ | 3/27/13 | Karl Denninger
    The controls may include a ban on cashing checks and carrying more than 3,000 euros ($3,830) in cash across borders, Phileleftheros reported today, citing a draft Finance Ministry decree. The measures will last for seven days from when the decree is published and apply to all accounts and payments regardless of currency, the Nicosia-based newspaper said. Cyprus’s lenders have been closed since a March 16 plan by the European Union to force losses on all depositors in exchange for a 10 billion-euro bailout touched off a political upheaval. While parliament rejected that plan, a subsequent agreement shuts Cyprus Popular Bank...
  • How The Common Cypriot Got Raped

    03/26/2013 10:25:24 AM PDT · by Kartographer · 13 replies
    Market-Ticker ^ | 3/26/13 | Karl Denninger
    Ok folks, if you live in Cyprus and are one of the common people there, perhaps a "wealthy" person such as a businessowner but not one of the "connected few", now it has come out how you were screwed. Laiki Bank customers in the UK face no restrictions on access to their cash and have been told it is "business as usual" at the firm's four British branches, despite an overnight decision to close its Cyprus parent. .... Ruth Harvey of Laiki Bank in the UK said that although not all of the details of the impact of the agreement...
  • Nigel Farage: My God, The TRUTH!

    03/20/2013 9:47:09 AM PDT · by Kartographer · 8 replies
    Market-Ticker ^ | 3/20/13 | Karl Denninger
    We are to blame for this because we failed to demand and enforce a stop to this crap of un-margined derivative exposure that is "off book" and unsupervised on a daily basis, unlike positions in the futures and stock markets. I have been calling for "pulling the fuse" on this bomb since I started The Ticker for this very reason. The banks have hundreds of trillions of "gross" exposure in these instruments and while that grossly overstates the actual risk the fact of the matter is that these institutions have not and cannot post margin against these positions as they...
  • Complacency At An All-Time High

    03/11/2013 1:54:49 PM PDT · by blam · 23 replies
    The Market Ticker ^ | 3-11-2013 | Karl Denninger
    Complacency At An All-Time HighThe Market TickerKarl DenningerMarch 11, 2013 The DOW hit "all-time new highs" all last week. Isn't it redundant -- and stupid -- to use "all time" and "new" in the same phrase? Yes, it is -- and about as stupid as believing in this "rally". The facts are that last night Japanese machinery orders fell 13% in January, despite the Japanese government pledging to "beat deflation" with new monetary operations (read: printing money) that has driven the Yen weaker by some 20% in the last couple of months. That move started in December and as such...
  • More Fed Follies.... Paper

    02/22/2013 1:11:36 PM PST · by SatinDoll · 1 replies
    The Market-ticker ^ | Feb.22,2013 | Karl Denninger
    This one's rich: “The combination of a massively expanded central bank balance sheet and an unsustainable public debt trajectory is a mix that has the potential to substantially reduce the flexibility of monetary policy,” the economists write. “This mix could induce a bias toward slower exit or easier policy, and be seen as the first step toward fiscal dominance. It could thereby be the cause of longer-term inflation expectations and raise the risk of inflation overall.” There is no flexibility and it is the direct and proximate consequence of Congress and The Adminstration ignoring the fundamental realities of arithmetic --...
  • Cuomo: Good Luck {Gun Patriots Giv'em Hell!)

    02/05/2013 3:38:48 PM PST · by drpix · 51 replies
    market-ticker.org ^ | 2/1/13 | Karl Denninger
    Uh, word on the street is that the governor of NY is sending out cop squads to try to get the people to buy into his new gun ban-and-registration law that he passed in the dead of night, violating every principle of representative government. And they're getting... well.... not exactly a warm reception.
  • Geithner Appears to have Broken the Law

    01/20/2013 12:44:03 PM PST · by Oberon · 13 replies
    The Market Ticker Blog ^ | 1/19/13 | Karl Denninger
    From the Fed Transcripts: MR. LACKER. If I could just follow up on that, Mr. Chairman. CHAIRMAN BERNANKE. Yes, go ahead. MR. LACKER. Vice Chairman Geithner, did you say that they are unaware of what we’re considering or what we might be doing with the discount rate? VICE CHAIRMAN GEITHNER. Yes. MR. LACKER. Vice Chairman Geithner, I spoke with Ken Lewis, President and CEO of Bank of America, this afternoon, and he said that he appreciated what Tim Geithner was arranging by way of changes in the discount facility. So my information is different from that. Oh I see. Reuters...
  • On Gun Control and Genocide

    01/19/2013 2:39:26 PM PST · by Katechon · 18 replies
    YouTube ^ | January 19 | Karl Denninger
    Karl Denninger just posted this YouTube video, in which he contrasts your odds to die in a genocide versus your odds to die in a mass-shooting. RESIST Young man with well concealed gunfacing fearlessly the Obama régime.
  • Bloomberg Sticks His D*** In The Blender (NY Marathon)

    11/02/2012 4:28:20 PM PDT · by dynachrome · 23 replies
    market-ticker.org ^ | 11-2-12 | Karl Denninger
    The financial consequences to people who were told it was on (after reasonably believing it would be canceled) and who now have almost-certainly lost any possibility of recovering deposits or getting refunds on travel they had intended to take are going to be severe. Adding to this are severe insults by hotels, which frequently impose 48-hour cancellation penalties in NYC (which can be, for special events, the entire amount of the stay) and then you can add to it the insult imposed on your local population in that many hotels were kicking out locals who were staying in the hotels...
  • Treason By Administration In Libya?

    10/24/2012 2:00:52 PM PDT · by Snuph · 39 replies
    Market-Ticker ^ | 2012-10-24 | Karl Denninger
    Well well well what do we have here? I've talked a bit about rumors that just won't die that our real purpose in being in Libya with that "Diplomatic Mission" was more related to trying to buy back portable anti-aircraft missiles that we sold or gave to Gaddafi (or was it the "Rebels" -- or both?) and then went "missing." Now it appears that we have national media that are talking about it and have uncovered proof that these are not just rumors. Our national hubris in handing a thug anti-aircraft missiles that are both man-portable and not secured is...
  • Richmond Fed - Oops Now this is just plain bad.

    10/23/2012 9:45:09 AM PDT · by Snuph · 3 replies
    Market-Ticker ^ | 2012-10-23 | Karl Denninger
    Manufacturing activity in the central Atlantic region pulled back in October after improving somewhat last month, according to the Richmond Fed’s latest survey. The seasonally adjusted index of overall activity was pushed lower as all broad indicators of activity—shipments, new orders and employment—were in negative territory. Other indicators also suggested additional softness. Capacity utilization turned negative, while backlogs remained negative but improved from its September reading. Moreover, the gauge for delivery times changed little, while raw materials inventories grew at a slightly quicker pace, and growth in finished goods edged lower. Yuck. The table is just plain ugly. I'm sure...
  • Hillary Clinton: Resign, Then Go Cave-Diving Sans Tank

    10/16/2012 10:16:58 AM PDT · by Snuph · 7 replies
    Market-Ticker ^ | 2012-10-16 | Karl Denninger
    Yeah? Where's your resignation Hitlery? Let's cut the crap -- the Administration didn't "suggest" that the attack was "spontaneous", it not only outright made the bald claim but in addition spat all over the First Amendment at the same time, arguing that there is something wrong with offensive speech. It later became clear that the Administration knew damn well that this was an organized military act (duh; that was obvious to anyone who bothered to pay any attention at all!) essentially immediately and that there was never any question as to motivation. It happens to be damned convenient that now...
  • I Hope Everyone Is Ready

    10/04/2012 12:13:05 PM PDT · by Kartographer · 27 replies
    Market-Ticker ^ | 10/4/12 | Karl Denninger
    First, Iran's currency has effectively imploded; our inflationary games along with our "sanction" regime has caused a 20% daily drop in the Iranian currency value against the dollar. This volatility in turn led to the disappearance of convertibility (duh!) which in turn means that things like food suddenly become very hard to obtain, even if you are putatively wealthy. Second, Syria and Turkey are having a little dust-up that could turn very not little in a hurry. If you don't understand why this is important please get out a map and have a look at some of the potential problems...
  • Senator Paul Gets It Right

    09/22/2012 2:32:25 PM PDT · by Lorianne · 9 replies
    Market Ticker/You Tube ^ | 22 Septermber 2012 | Karl Denninger posting on Rand Paul video
    You Tube video 59:18 http://www.youtube.com/watch?feature=player_embedded&v=JtdY9SGPq5E Senator Paul introduced a bill to cut off foreign aid to Egypt, Libya, Pakistan and Yemen unless they met certain conditions (which they would not.) He then used procedural moves to put the Senate into "slow motion" until he got his vote. The bill failed, incidentally, 10-81. Who voted for Senator Paul's resolution?
  • The Newest Bank Fraud Scheme ("Risk Hiding")

    09/11/2012 8:11:05 AM PDT · by Kartographer · 2 replies
    Market-Ticket ^ | 9/11/12 | Karl Denninger
    It just never ends, does it? Starting next year, new rules designed to prevent another meltdown will force traders to post U.S. Treasury bonds or other top-rated holdings to guarantee more of their bets. The change takes effect as the $10.8 trillion market for Treasuries is already stretched thin by banks rebuilding balance sheets and investors seeking safety, leaving fewer bonds available to backstop the $648 trillion derivatives market. The solution: At least seven banks plan to let customers swap lower-rated securities that don’t meet standards in return for a loan of Treasuries or similar holdings that do qualify, a...
  • Employment Report: SUCKS

    09/07/2012 9:59:43 AM PDT · by Kartographer · 4 replies
    Market-Ticker ^ | 9/7/12 | Karl Denninger
    There isn't any way to spin this one; I looked, I studied, I read it twice, three, four times. Facts are what they are, and the facts are that this report sucks: Total nonfarm payroll employment rose by 96,000 in August, and the unemployment rate edged down to 8.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, in professional and technical services, and in health care. Uh huh. The reason the unemployment rate "edged down" is that 1.483 million people gave up and exited the workforce! The Department of Labor Lies...
  • The (Gary) Johnson Deception

    08/29/2012 1:32:58 PM PDT · by VA Voter · 1 replies
    The Market Ticker ^ | 8/28/2012 | Guest
    The alleged Governor Veto wants you to believe he slashed spending and is a model of fiscal restraint. The truth is that state level spending increased by about 7.5% annually over his eight-year term. County and local governments did a better job of restraining spending; their spending advanced by "just" 6.5% annually during the same period. Population advanced by about 12% over the same period, so don't let Governor Liar tell you this was all population increase; the facts are that he spent 75% more the year he left office than was spent the year he entered it. Much-more-damning, State...
  • More Health-care Monopoly Practices

    08/27/2012 9:35:12 AM PDT · by Lorianne · 3 replies
    Market Ticker ^ | 27 August 2012 | Karl Denninger
    From WSJ: After David Hubbard underwent a routine echocardiogram at his cardiologist's office last year, he was surprised to learn that the heart scan cost his insurer $1,605. That was more than four times the $373 it paid when the 61-year-old optometrist from Reno, Nev., had the same procedure at the same office just six months earlier. "Nothing had changed, it was the same equipment, the same room," said Dr. Hubbard, who has a high-deductible health plan and had to pay about $1,000 of the larger bill out of his own pocket. "I was very upset." _____________________ Why? Because the...
  • Say Hello To "Four More Years" (Mittens-Ryan)

    08/11/2012 4:40:16 PM PDT · by SatinDoll · 55 replies
    Market-ticker ^ | Aug. 11, 2012 | Karl Deninger
    There are a few hard, fast rules in politics when you're playing on the top of the ticket. The first is that picking someone that's dumber than a box-o-rocks may cost you the election, as the electorate may think about your untimely demise and whether they can live with the other party in the left seat. The second is that picking someone who's smarter than you are isn't that good of an idea either, because then the electorate may wonder if they made the wrong choice for the top of the ticket. And the third is that picking someone who's...
  • China Headed for The Ditch

    08/10/2012 1:50:00 PM PDT · by SatinDoll · 14 replies
    Market-ticker ^ | Aug. 10, 2012 | Karl Deninger
    Those who think that we're going to "muddle through" have another think coming... China’s export growth collapsed and imports and new yuan loans trailed estimates in July, reports today showed. Outbound shipments increased 1 percent from a year earlier and imports rose 4.7 percent, the customs bureau said. The growth in July exports compared with the 8 percent median estimate in a Bloomberg News survey and 11.3 percent in June. Analysts estimated a 7 percent gain in imports after a 6.3 percent increase in June. [snip]
  • Nobody Committed Any Crimes (Except Treasury and Obama)

    08/07/2012 1:03:23 PM PDT · by SatinDoll · 9 replies
    Market-ticker ^ | August 7, 2012 | Karl Deninger
    Emails obtained by The Daily Caller show that the U.S. Treasury Department, led by Timothy Geithner, was the driving force behind terminating the pensions of 20,000 salaried retirees at the Delphi auto parts manufacturing company. The move, made in 2009 while the Obama administration implemented its auto bailout plan, appears to have been made solely because those retirees were not members of labor unions. .... One email dated Thursday, April 2, 2009 shows PBGC staffer Joseph House discussing a meeting he and his colleagues were anticipating with the entire auto bailout team the following day. House emailed PBGC colleagues Karen...
  • SCOTUS Tortures Constitution: PPACA

    06/28/2012 11:29:12 AM PDT · by Lorianne · 19 replies
    Marktet Ticker ^ | 28 June 2012 | Karl Denninger
    The USSC upheld Obamacare by, basically, twisting the Constitution into a pretzel, crapping on it, whizzing on that and then eating it. Finding first that the Commerce Clause bars the government from compelling one to enter into commerce, the analysis then turned to whether there was any way to save the constitutionality of the act. The justices found one. They re-interpreted the penalty clause as a tax. And of course, Congress can levy taxes.
  • Get OUT Of The Futures Markets

    06/03/2012 9:40:52 PM PDT · by hope · 33 replies
    The Market Ticket ^ | 6/3/12 | Karl Denninger
    If you get reamed don't say you weren't warned. In 2008 there were repeated instances where the futures gapped ~20 handles overnight, clearing out the stack and gapping over your stop, filling you on the other side for hideous losses. Stop orders are worthless when this happens -- all they do is lock in a loss as you fill on the other side (which usually is the extreme print) and then the market reverses some of the move, costing you twice.