Monday, September 13, 2010

Why I Post Material Like My 9/11 Screed (Karl Denninger)

The Market Ticker ® - Commentary on The Capital Markets

Posted at: 2010-09-12 15:18 by Genesis
in category Editorial

Why I Post Material Like My 9/11 Screed

Some wonder, given the following warning in the forum's TOS:

Any discussion of 9/11 "Troofer"-related nonsense on Tickerforum will result in an immediate, no-notice and permanent account (and possibly IP-level) ban. There are literally thousands of places on The Internet where you can run this sort of tripe. This is not one of them, and those who refuse to respect this constraint will have their access privileges removed.

This is why:



We live in a serious time folks.  Women like this "teacher", who spends her days filling your kids' minds with garbage, fully believing every bit of the lies that she spat at the Governor, are a direct and present threat to the future of our nation.

So are those who think that our nation's government blew up three buildings in NYC on 9/11, shot down UA 93, or fired a missile into our own Pentagon.

So are those who refuse to pay attention to the historical record on many other accounts, including Islam.  Our own founding fathers wrote on the latter topic, having suffered under piracy on the high seas that resulted in over a million Europeans and Americans being sold into slavery.  Upon trying to "settle" this matter diplomatically and asking by what right these people were being taken....

As Jefferson later reported to Secretary of State John Jay, and to the Congress:

The ambassador answered us that [the right] was founded on the Laws of the Prophet, that it was written in their Koran, that all nations who should not have answered their authority were sinners, that it was their right and duty to make war upon them wherever they could be found, and to make slaves of all they could take as prisoners, and that every Mussulman who should be slain in battle was sure to go to Paradise.

Where - and when - have I heard that sort of sentiment expressed before?  And aren't we dealing with a similar situation with Somali Muslim pirates now?

You never hear the Somali pirates with their proper affiliation inserted, of course.  The media doesn't want to talk about that.  Gee, I wonder why?

Let's be straight-up here folks:

We live in a perilous time, where both governments and others have deceived.  You have been lulled to sleep through the false belief in the God of "profit" that was emitted not from your hands and minds, but rather by the simple passing of "assets" from one person to another at an ever-higher price. 

This was a knowing and willful fraud.  The Boomers exacerbated it and in fact press their case now, as with the teacher in that video clip, believing that they have the right to extort wages that perpetually rise even though they do the same job today they did yesterday.  That is, they produce no more and labor no harder, but are "due" more money - from you, the taxpayer.

They also press the position that they (and everyone else) are "due" free medical care, a free retirement, and the ability to live at a standard much higher than you, simply because they are "government employees."

The blowing of serial bubbles was not an accident.  It was an intentional act created by our government and private actors on Wall Street.  It was intended to lull you to sleep with "free" houses, "free" iPhones, "free" cars and other trappings of prosperity that you did not actually have to work for.

These jackals in fact did nothing other than write a post-dated check against your labor and cash it, "allowing" you to have the money now that you must now earn tomorrow.

This nation sits on the edge of a convulsion not seen in more than 200 years.  The edges of it are apparent now in places like Arizona, southern Texas, Chicago and Detroit, where gangs, whether illegal immigrants or simple roving bands of thugs, terrorize and disrupt, fueled by our own idiocy - a "drug war" that we learned in the early part of the 1900s could not work (during Prohibition.)  Yet we allowed the Harry Anslingers of the world to work us into a frenzy, and then piled on with Nancy Reagan and MADD, all of which did nothing other than provide the fuel for two very-valuable enterprises - the gangs who now murder our children and the prisons that lock people up for consensual adult conduct.

We have spent fifty years deluding ourselves on the international scene to go along with our domestic delusions.  First, we played cop in Korea.  Then, Vietnam.  Then, not content to stop there, when Saddam invaded Kuwait we "ejected" him and then let him get away with it after his entire military force was cornered and on a single road.  We then sat back and let the Muslims try to blow up one of our Destroyers, did nothing, then let them blow up a second one (the USS Cole) and again did nothing.  This of course culminated in the attacks on 9/11.

But did we go to all of the sources of those people and their funding and blast them to Mars?  Why of course not.  Doing that would have caused "economic disruption", since some of those very same people were selling us oil!

Do you get that one folks? 

You bought the training and organization that blew up the towers and the Pentagon with your own ****ing money, and you DEMANDED (and still do!) that we not drill for that same damn oil RIGHT HERE in AMERICA!

Still, we continued to believe, for five more years, even after 3,000 of our nation's men, women and children died, that we could have a "Free Lunch."  We allowed bankers to create hinky derivatives, we allowed cities, towns and states to promise "retirement benefits" that could not possibly be paid, we allowed colleges to rig their pricing by making it unlawful to discharge student loans in bankruptcy.  We allowed our towns and states to rig their budgets with ever-increasing assessments on the "value" of Real Estate, never questioning why it is that you claim to BUY something that you then have to pay a tax on to own every year!

You don't own your house - even if it's allegedly "paid off" - you're renting it from the damn county!

Through all this we spent our political debate on whether we should overturn Roe .v. Wade or whether gays can serve in the military. 

These are worthy debates, but ones that any thinking person cannot even CONSIDER entertaining until we eject the jackals from our financial and government infrastructure, quit making promises we cannot possibly keep, lock up the scammers and take the excess debt - all $25 trillion or so - out of the system.

2008 was a tiny crack in the dam.  A spurt of water.  The economic dislocation you saw was one small part of the $53 trillion on balance sheet debt bubble quivering.

A mere 2% of that debt bubble actually going bad caused all the awful things you saw happen from the beginning of 2007 to the spring of 2009.

The other 98% is still there, and of it half, if not more, stinks like dead fish.

You think this is over?  That things are "stable"? 

We cannot stimulate our way out of this, nor can the government spend its way out.  We are now spending 12% of our GDP in borrowed money each and every year simply to cover up an ongoing, three-year old economic Depression.  A depression that the CBO says will continue next year, as they project deficits equal or worse than we're running this year. 

For how long will we get away with this?

I don't know.

But what I do know is that we won't get away with it indefinitely.

The other $25 trillion of bad debt will pop.

Perhaps half of the outstanding mortgage and HELOC debt, on balance.

Perhaps half of the student loan debt.

Perhaps 20, 30, 40% of the corporate debt.

And God knows how much of the derivatives so-called "notional value" is in fact hedged, and how much is not - despite belief that most of it is.  See, a hedged bet is only good if the guy who you hedged it with can pay!  If he can't, you're naked on the beach with your tiny little pecker that everyone can see when it comes time to settle the checks.

When I started writing The Ticker in April of 2007 I was doing it to provide an alternative point of view, and hopefully some perspective for our leaders in Government to take to heart.  I did not believe I would "reach them" - after all, I'm one guy with a loud mouth and a fair bit of computer and networking skill, and these scams and frauds have been going on for a hell of a long time.

But as a father with a school-age daughter that I do not want to grow up in a decaying society, or worse, one that has gone Mad Max, I had to try.

Today, I'm a bit more-focused and limited in my goals.

We're not going to fix this folks - it's going to blow up.  Neither Republicans or Democrats will do a ******n thing about the scams and frauds.  They've proved it conclusively.  Neither a Republican or Democrat Attorney General has brought one single criminal prosecution against the bankers who created and profited from the scams - not even when there is publicly reported evidence of organized criminal activity in money laundering for criminal drug cartels in Mexico and blatant bribery in county and state financial dealings, along with funneling money to Iran so they can pay "bounties" for our soldier's heads on pikes.

When our so-called "law enforcement" apparatus will sit on their hands while institutions finance literal murder by the Mexican Drug gangs and Iranian bribes to the Taliban, there's no reason for any citizen to expect that the rule of law matters or that any sort of prosecutorial response will ever be forthcoming, no matter how obscene and outrageous the behavior of these "titans of industry" might be, now or in the future.  Forget it.

All I'm trying to do now is chronicle enough, and provide enough information, so that those with their heads on straight have a chance of survival in the years to come.  That begins with my personal family, and it extends to those who wish to listen, investigate on their own, and understand.

If you're one of the nutters who thinks that we're being attacked "because we're war-mongers", or if you think "we deserved it" on 9/11, or if you think "people deserved it" because they drove an SUV, you truly and richly deserve what's coming in this country, and you will not be prepared for it.  Further, I don't have time for it - feel free to debate all the BS issues you think are "so important" wherever you like - so long as it's not on my forum.  Run that crap there, you're gone.

But if you're not one of the nutters then keep reading, keep doing your own due diligence (yes, even against what I have to say - don't take anyone's word for anything, including mine), and get prepared.

This is not going to end well folks.

And that, my friends, is my screed for 9/12, what should truly have been (and could still be) Patriot's Day.

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