[ROCKMAN]

An interestingly simple and elegant model: financing the present with future growth expectations when those expectations cannot be met. Folks can argue the timing and degrees of such failed expectations but that doesn’t change the imbalance brought on by PO. I like simple answers...really. Lots of details to debate but the core seems rather undeniable.

[Cashmere]

An interestingly simple and elegant model: financing the present with future growth expectations when those expectations cannot be met. Folks can argue the timing and degrees of such failed expectations but that doesn’t change the imbalance brought on by PO. I like simple answers...really. Lots of details to debate but the core seems rather undeniable.

Well said.

[Forney2008]

Market Ticker is a haven for fat ass, racist, sexist, Denninger sycophants, America relative to the rest of the world is never wrong (read: radically jingoistic), neocon windbags.

Denninger is one of the blogospheres biggest megalomaniacs. He would literally rip off your head to prove that he is correct about any opinion he harbors. His forum has been emasculated to where it is 1/100th of what it was before he summarily banned virtually everyone who disagreed with him. He's an asshole, period.

Yep - no argument there...he banned me about 9 months ago when I told him his veggie VW would not outrun PO and the ensueing die off.

That said - it is a good place to go for the play by play.

I think he is right about a depression - I think it will be a hyperinfaltionary depression or hyperstagflation but hey...what are words among friends...right?

When he banned "No Thing" for her views on a ruling elite engineering this crash to enslave the global population...he showed his true colors.

So you were Roccman before right? I loved that avatar of the Earth on someones head with the weight crushing down on it!! Yeah Karl Denninger and his peeps tend to be on the jingoistic side and are quite paranoid about so-called "moonbats", many of which would be correct about what they said a year ago about things today. They also believe that America can win any battle we face, not withstanding the fact that China and Japan help finance much of our excursions and would not hesitate to cut off buying our debt if they felt threatened by us. KD also has this mistaken belief that the Federal Reserve will allow deflation. Ummm sure, he believes that interest rates will soar if the fed runs the printing presses. He does not realize that the government we are dealing with does not follow the rule of law and will go to such legnths to try and delay the inevitable, 10,000% interest rates be damned. Just look at Zimbabwe.

[kokoda]

How do you unwind close to $3 trillion in bad debt, and who eats the loss? If its "the taxpayer", are you willing to pay 30-50% more for everything - forever? Oh, your wages won't go up either. If your purchasing power deteriorates by another 30-50%, will you be able to feed, clothe and keep your family and yourself warm this winter?

I honestly think one of the big problems a lot of people have is that they don't understand numbers ... or at least the concept of how big a number really is.

Three trillion is actually $3,000,000,000,000. To put it another way that is around $10,000 per man woman and child. If you are the sole breadwinner for a family of 4 then then your share of the debt might be equivalent to your entire year's take home salary ... probably more.

[shortonoil]

Roccland wrote:

Yep - no argument there...he banned me about 9 months ago when I told him his veggie VW would not outrun PO and the ensueing die off.

I found TF from Eli, and after about 12 minutes I decided, “this is not a good place to post PO info. I’d be better off trying to teach the raccoon that lives in my garbage can”. Those guys are so hide bound they couldn’t be taught how to pour piss out of a boot - with the instructions written on the heal.

Its a good place to pick daily news items, not opinions!

[Roccland]

Roccland wrote:

Yep - no argument there...he banned me about 9 months ago when I told him his veggie VW would not outrun PO and the ensueing die off.

I found TF from Eli, and after about 12 minutes I decided, “this is not a good place to post PO info. I’d be better off trying to teach the raccoon that lives in my garbage can”. Those guys are so hide bound they couldn’t be taught how to pour piss out of a boot - with the instructions written on the heal.

Its a good place to pick daily news items, not opinions!

Kinda like this...??

[r101958]

Below is a link to one of the best articles on our debt that I have had the pleasure to read. Check it out, you won't be disappointed. I'd like to hear what you all think about it:

LINK

[Roccland]

Below is a link to one of the best articles on our debt that I have had the pleasure to read. Check it out, you won't be disappointed. I'd like to hear what you all think about it:

LINK

The inconspicuous beginnings of irredeemable debt have blossomed into a colossal edifice, a fantastic debt tower that is bound to topple upon the prevailing complacency and apathy. Actually "tower" is a misnomer. Rather, what we have is an inverted pyramid, a vast and expanding superstructure precariously balanced on a tiny and ever-shrinking gold foundation - the only asset in existence with power to reduce gross debt.

The construction has no precedent in history, and no place in theory, whether Ricardian, Walrasian, Marxian, Keynesian or Austrian. As a matter of fact, no one is analyzing the process. Research has been placed under taboo by the powers that be, lest diagnosis reveal the presence of cancer caused by irredeemability. There is no known pattern or model that would apply to its mechanism in terms of equilibrium analysis.

Two negative conclusions emerge. One is that the edifice of irredeemable debt must grow at an accelerating pace as markets for derivatives providing "insurance" to holders of debt proliferate. The insurer of debt must also be insured, as must the insurer of the insurers, and so on, ad infinitum. This is due to the fact that the risk of collapsing bond values has been created by man. In contrast, the risk of price changes of agricultural commodities are created by nature, and the futures market provides insurance, with no need to re-insure. The other conclusion is that the unwieldy size of the debt structure excludes the possibility of a normal correction: a major liquidation would dwarf the calamities of the Great Depression.

great article!!

[Eli]

You guys are spot on about KD being an asshole.

I read some where over there that Nothing was being a sock puppet that is she wasn't who she said she was, but who knows what the truth is. But your guys explanation sounds just as likely. The site is getting worse I am getting real close to being banned right now.


ABout half the stuff he said would never happen because it is illegal, has come to pass.

[firestarter]

Denninger is a lunatic. He is now pining for the U.S. to aggressively respond to Russia, even so much as suggesting us using the nuclear option. He's banning like mad today, those who want to take a more measured/diplomatic approach to her (Russia's) actions. He thinks Russia should just accept a NATO led perimeter because it will lead to peace not war. But when a poster suggested the double standard, (see Monroe Doctrine as was expressed with the Cuban Missile crisis), the dipshit Denninger merely ignored the comparison and went on goading the anti empire crowd at his venue . He is the epitome of a neocon, warmongering zealot. I'm sure he would have no qualms about removing your life, liberty or freedom in the cause of promoting the world according to Denninger. Authoritarian folks of his ilk scare the shit out of me. Sadly I think they are the majority report in America today. Betcha he thinks Orwell was merely an unpatriotic crank.

p.s., I think, on balance, Dante's Peak or Mr. Bill offers just as much insight on things financial as Denninger, but without all the bigoted and hurtful rhetoric.

[Forney2008]

You guys are spot on about KD being an asshole.

I read some where over there that Nothing was being a sock puppet that is she wasn't who she said she was, but who knows what the truth is. But your guys explanation sounds just as likely. The site is getting worse I am getting real close to being banned right now.


ABout half the stuff he said would never happen because it is illegal, has come to pass.

Correct me if im wrong, but I thought Nothing was banned for not answering KD directly about this perfect economy system and a reset of this system of money we are in now??

But yeah, KD has one of the largest egos on planet Earth. Funny, like you said, many of the same people he "banned" as moonbats for saying stuff b4 are now proven correct since our government has become just that desperate to delay this crisis.

[Forney2008]

p.s., I think, on balance, Dante's Peak or Mr. Bill offers just as much insight on things financial as Denninger, but without all the bigoted and hurtful rhetoric.

I would love to see Denninger actually debate Dantes, Mr. Bill or one of the other well known poster on here. It would be fun seeing KD's responses to peak oil and the issues with "vegetable oil" and offshore drilling he so often touts.

[DantesPeak]

Tax receipts are falling this year vs. last, and I expect that trend to continue into 2009.

I don't see a big difference in the Federal budget in 2009 no matter who wins the election. The FDIC is going to be bailed out, and there are going to be many direct or possibly disguised programs to help people with their energy bills (such as a repeat of the second quarter rebate).

Of course that won't help in the long run. While the second quarter rebate actually did help the economy in the short run, the deficit spending to pay for it is inflationary - which is bad for the economy in the longer run.

Total receipts for the first 10 months of fiscal year 2008 were about $16 billion (or 1 percent) lower than in the same period last year. Individual income tax receipts were about $16 billion (or 2 percent) lower because of higher refunds paid to individuals. Net corporate tax receipts fell by about $42 billion (or 14 percent). Offsetting those declines were gains in social insurance receipts of $29 billion (or 4 percent) and $12 billion in other receipts, primarily Federal Reserve receipts (up $4 billion) and estate and gift taxes (up $3 billion).

CBO

[AlexdeLarge]

KD do have an ego, but his tech side analysis of the capital markets is always a good read.

His forum, his rules. Oh, and by the way............some of you are flaming moonbats! LOL

[firestarter]

You guys are spot on about KD being an asshole.

I read some where over there that Nothing was being a sock puppet that is she wasn't who she said she was, but who knows what the truth is. But your guys explanation sounds just as likely. The site is getting worse I am getting real close to being banned right now.


ABout half the stuff he said would never happen because it is illegal, has come to pass.

Correct me if im wrong, but I thought Nothing was banned for not answering KD directly about this perfect economy system and a reset of this system of money we are in now??

But yeah, KD has one of the largest egos on planet Earth. Funny, like you said, many of the same people he "banned" as moonbats for saying stuff b4 are now proven correct since our government has become just that desperate to delay this crisis.

He allowed the N word in all its nasty sense to be uttered without censure up until today. All of a sudden it can't be spoken at his forum unless it's done in the golden paywalled bar. The reason he changed this bigoted policy today is because someone opined that Israel was behind much of the turmoil in the region, including the Russian situation. He called it JOO baiting (his words) and it's not permissible. When the fella whom he blasted in his Ticker the am, Allclear, said Denninger was operating under a gross double standard because he allowed the N word to be used with impunity for over a year, Denninger told him (Allclear) that any reference to the N word would get him banned from the forum. I wonder if it might have something to do with Denninger being on Glenn Beck's show tomorrow? So much for being a stand up guy. What a floor flushing phony.

[threadbear]

Denninger is a lunatic. He is now pining for the U.S. to aggressively respond to Russia, even so much as suggesting us using the nuclear option. He's banning like mad today, those who want to take a more measured/diplomatic approach to her (Russia's) actions. He thinks Russia should just accept a NATO led perimeter because it will lead to peace not war. But when a poster suggested the double standard, (see Monroe Doctrine as was expressed with the Cuban Missile crisis), the dipshit Denninger merely ignored the comparison and went on goading the anti empire crowd at his venue . He is the epitome of a neocon, warmongering zealot. I'm sure he would have no qualms about removing your life, liberty or freedom in the cause of promoting the world according to Denninger. Authoritarian folks of his ilk scare the crap out of me. Sadly I think they are the majority report in America today. Betcha he thinks Orwell was merely an unpatriotic crank.

p.s., I think, on balance, Dante's Peak or Mr. Bill offers just as much insight on things financial as Denninger, but without all the bigoted and hurtful rhetoric.

I suppose this Denninger guy, like many such nuts, considers himself a Libertarian!

[Forney2008]

You guys are spot on about KD being an asshole.

I read some where over there that Nothing was being a sock puppet that is she wasn't who she said she was, but who knows what the truth is. But your guys explanation sounds just as likely. The site is getting worse I am getting real close to being banned right now.


ABout half the stuff he said would never happen because it is illegal, has come to pass.

Correct me if im wrong, but I thought Nothing was banned for not answering KD directly about this perfect economy system and a reset of this system of money we are in now??

But yeah, KD has one of the largest egos on planet Earth. Funny, like you said, many of the same people he "banned" as moonbats for saying stuff b4 are now proven correct since our government has become just that desperate to delay this crisis.

He allowed the N word in all its nasty sense to be uttered without censure up until today. All of a sudden it can't be spoken at his forum unless it's done in the golden paywalled bar. The reason he changed this bigoted policy today is because someone opined that Israel was behind much of the turmoil in the region, including the Russian situation. He called it JOO baiting (his words) and it's not permissible. When the fella whom he blasted in his Ticker the am, Allclear, said Denninger was operating under a gross double standard because he allowed the N word to be used with impunity for over a year, Denninger told him (Allclear) that any reference to the N word would get him banned from the forum. I wonder if it might have something to do with Denninger being on Glenn Beck's show tomorrow? So much for being a stand up guy. What a floor flushing phony.

I find that odd too about the "N" word being taboo now when rascist wind bags like LCruiser-now known as "theone" use words like this with impunity. Being on Gleen Beck must have made him change his ways.

[nobodypanic]

I suppose this Denninger guy, like many such nuts, considers himself a Libertarian!

your insight is top notch, sir.

[threadbear]

I suppose this Denninger guy, like many such nuts, considers himself a Libertarian!

your insight is top notch, sir.

It's all about personal freedom; for their own persons!
Scratch many right wing "libertarians" and you'll find self interested, greedy consumers and war pigs. Oh, and that's Ma'am, but thanks for compliment anyway!

[nobodypanic]

I suppose this Denninger guy, like many such nuts, considers himself a Libertarian!

your insight is top notch, sir.

It's all about personal freedom; for their own persons!
Scratch many right wing "libertarians" and you'll find self interested, greedy consumers and war pigs. Oh, and that's Ma'am, but thanks for compliment anyway!

my apologies ma'am.