Market Ticker Karl "ZioDenniger" needs to put on the "They Live!" Glasses!!!!

[CrackSmokeRepublican]

Karl really needs the "glasses" on at this point... the man is intentionally blind to so many J-Tribe SCAMS at the root of it all... --CSR

When Nada later dons the glasses for the first time, the world appears in shades of grey, with significant differences. He notices that a billboard now simply displays the word "Obey"; without them it advertises that Control Data Corporation is "creating a transparent computing environment." Another billboard (normally displaying "Come to the Caribbean" written above an attractive woman lying on a beach) now displays the text "Marry and Reproduce." He also sees that paper money bears the words "This is your God." All printed matter around him contains subliminal advertising.

Additionally, he soon discovers that many people are actually aliens, who are human-looking except for skull-like faces. The aliens tend to be wealthy upper class members of society, as well as politicians. When the aliens realize he can see them for what they truly are, the police suddenly arrive. Nada escapes and steals a police shotgun; while evading the police, he accidentally stumbles into a local bank filled with aliens. Realizing that the jig is up, he proclaims, "I have come here to chew bubblegum and kick ass...and I'm all out of bubblegum." A shooting spree ensues and after killing many aliens, one of them disappears after twisting a dial on his wristwatch that resembles a Rolex.

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Bernie Sanders, American Hero  
   
Seriously.

Here's all eight and a half hours of his filibuster - a real one - archived by CSPAN.

Part 1
Part 2
Part 3

Unfortunately, CSPAN does not permit embedding.  Boo hiss.

Mr. Sanders is a die-hard socialist (ZIONIST)      .  But he believes in what he puts forward, which makes him very different than the other    clowns in Washington DC.

While I cannot endorse much of what Mr. Sanders wants as solutions, you can't find much in the way to argue with when it comes to the cause of the problems.   In fact, a large part of his missive sounds like it was a filibuster that I'd deliver on the floor of the Senate were I elected to the position.

You have to give a man credit for walking the talk.  Filibusters in recent years have become all threat and no talk.  All you've had to do is threaten to engage in one and it's as if you did.  This was different - Mr. Sanders actually rose and spoke for eight and a half hours straight.

In those eight and a half hours Mr. Sanders hit on literally everything.  He called a spade a spade.  He said we can't afford to keep spending money we don't have, and he called out those in the banking and financial industry who have created this crisis.  He wasn't afraid to use the blunt language that has to be used - he laid it all out.

Banks with 63% of GDP in alleged "assets", he quoted Simon Johnson, and he gave you a prescription to end this crap - "BREAK THEM UP."

Then he added to it: the people who did this on Wall Street "need to go to jail."

"Outsourcing"?  You mean employing slave labor and environmental arbitrage, destroying our job base and making a mockery of our laws that allegedly "protect" workers and environment, right?  All under the corporate umbrella of "profit"?

Profit..... for whom?

If our laws on environmental damage and labor rates are just, then they are - everywhere.  If they're not, they're not - everywhere.  What's wrong is allowing this sort of arbitrage to take place; you get your cheap trinkets, our manufacturing job base is destroyed, and all we do is shift WHERE the slavery happens and the environment is destroyed - not whether it occurs!

Conservatives?  Jim DeMint, for instance?

Where the hell are those traitorous cowards who claim to be "Conservatives"?

Bernie Sanders, an admitted and in fact proud far-left Socialist, has to rise in The Senate and lecture the party that claims to be for "The Rule Of Law" on how the banks swindled the entire nation out of trillions of dollars of wealth AND STILL ARE DOING IT TODAY?

Mr. Sanders, my hat's off to you.

I disagree with your prescriptions for a fix, but I'll be damned if you didn't just take the so-called "Free Market" folks out back, beat them within an inch of their lives and then assault 'em in the back door for good measure.

A free market - or capitalist society - isn't one where you use the government to enact laws that promote and protect your looting of the people.

Those who claim to be "for free markets" and "for the rule of law" are supposed to use the law to put a stop to that crap by prosecuting and locking up the crooks, clawing back the illicit profits and returning them to the people they were stolen from instead of passing more laws and regulations that enable further looting of the people.

If my choice is between being sold socialism that is straight-up what it is, and alleged "capitalism" that in point of fact is, has been, and continues to be fascist Nazi-style mayhem and theft using the power of government to shield those who do wrong from facing the just punishment for their crimes......

Hell hath indeed frozen over.

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Posted 2010-12-11 15:27
by Karl Denninger


President Obama Is Losing It

(More like his Jew Controllers are "losing it".. Obama is just a child-like Jewish Mouth Puppet... surprisingly much like GWB was while in Office...--CSR)
 
Seriously.  There's no other possible explanation for this.

I have never, in my years of observing politics and being politically active, seen something like that.

Obama's "tax extension" (which is in reality just more pork spending, more allegedly-temporary-cum-permanent deficit-cranking) is in trouble.  Big trouble.  There's been no recovery.  We've instead done this:

That is, we've faked recovery by charging up the credit card, and we still are.  Now, with the so-called "recovery" faltering even with charging up the credit card Obama presumes to do even more of that which hasn't worked.

Einstein said that one definition of insanity is "doing the same thing over and over while expecting a different result."

By this definition President Obama, President Clinton, and both sides of the aisle in Congress must be judged insane and removed from office as mentally defective.

Note that Clinton's so-called "Great Economy" was (mostly) a scam.  Yes, you can see that the blue line (deficits as a percentage of GDP) fell to near-zero at the end of his second term.  But a huge percentage of the revenues and so-called "growth" were in fact false, as was uncovered as soon as he left office and the Internet bubble exploded in everyone's face.

What's clear is that Obama does not have the votes to pass this nonsense "plan."   Nor does he or anyone else have a realistic way to get the deficit numbers down - in fact, this "bill" (which is not yet a bill) in fact will drive them higher.  There's no answer to overexpansion of credit that can be found in the issuance of more credit, which Clinton and Obama both claim to be part of the goal.  Neither is willing or able to take on the banking cartel and force them to recognize the losses that have already occurred.

The stunner, however, was in Obama literally walking off the stage and leaving Clinton standing there, allowing him to answer questions for almost 20 minutes.

I find Clinton's statements on the underlying matters related to bank credit and lending to be more than a bit ridiculous.  First he states (right up front) that the "big banks" have to be able to have more leverage than community banks.  What that statement says is that eventually there will be no community banks, since the big banks can, if allowed to suck on the government teat of deposit insurance and yet run higher leverage, they will all be run out of town!   Yet it is the community banks by and large who did the right thing - not exclusively (there were some snakes there too) but certainly as a percentage their acts were far more transparent and clean (ethically and otherwise) than those of the big banks.

Clinton also continues to push the nonsense that "it's all about lending and investing."  There's a reason lending isn't going on and it's not lack of profit motive!  It's a lack of profit opportunity because the credit outstanding has reached the saturation point for good borrowers and good risks.  That's how it works folks, and we reached that limit five years ago.  Nearly none of the bad debt has been cleared, and until it is, you can't resume lending to good credit risks because there are damn few of them out there.

At the end of the day though this isn't so much about what Clinton had to say - it's that our sitting President abdicated the podium to Bill Clinton and let him go on for 20 minutes on policy instead of taking it on himself.

Folks, an organization with a weak - or absent - head has no head at all.

This was a clear statement to our enemies, and yes, we do have them, both physical and economic, that they may literally "fire at will."

May God help us if they were paying attention.... and they probably were.

===================================

Posted 2010-12-11 15:07
by Karl Denninger


This Is A Joke, Right?
 

I mean, it has to be....

    As violent drug cartels take over Mexico and expand their criminal enterprises north, the United States has signed a "trusted traveler" agreement that allows pre-screened Mexican airline passengers to bypass lengthy airport security checkpoints.

So some 84 million (ed: This may be thousands, as there is some dispute over translation - but if it's even ONE, the point still stands) Mexicans get to bypass "lengthy" airport security checkpoints (you mean, like being groped or virtually strip-searched with an X-ray machine?) while American Citizens who are willing to travel using something like, oh, a US Passport (which many of us have) are not afforded the same deference?

Never mind that the last two terrorist incidents that were attempted on airplanes (Mr. Shoe Bomber and Mr. Burns-off-his-Nuts) both boarded flights outside the United States headed inbound.

That is, not in the United States, not leaving the United States, but rather in a foreign land headed into The United States.

Yeah, that makes sense Big Sis.  So does this:

    While Napolitano was in Mexico finalizing the trusted traveler agreement this week, she also took the opportunity to sign a "letter of intent" to develop a plan for protecting immigrants from criminal attacks as they cross the border—illegally—into the U.S. Mexican officials have long complained that American law enforcement officers stand by as illegal immigrants are robbed, killed or violently beaten. Napolitano has committed to reducing the risk to life and security of migrants, according to the Mexican minister.

How about this: Shut the damn border down to illegal crossings?

While robbing, beating or killing an illegal migrant cannot be condoned one wonders who's doing the robbing, beating or killing? Perhaps it's the coyote (the Mexican, mostly) who is running these people illegally across the border?  Yeah, that would make some sense, as those are the people who arguably have both motive and opportunity - especially if they didn't get "paid in full" as "agreed" for their unlawful trafficking in those people, right?

Rather than protect American Citizens and America from an invasion by those crossing the border illegally (and that's exactly what it is - an invasion) "Big Sis" instead commits acts of aggression against the citizens of this nation.

Oath of Office eh?  Swore to defend the Constitution against all enemies foreign and domestic, did 'ya?

Hmmmm...

(What's the definition of Treason again?)
======================================================
Posted 2010-12-11 13:48
by Karl Denninger

Foreclosure Firms Shooting At The Truth
 

It's amazing what depths someone will go to to defend apparent lawlessness:

    Nationwide Title Clearing, a Palm Harbor company at the center of the nation's robo-signing controversy, is going on the offensive against its critics.

    On Wednesday, the company sued a St. Petersburg foreclosure defense lawyer, Matthew Weidner, for alleged libel and slander.

It's not libel (or slander) if the allegations are true.

And herein lies the problem - it's not Weidner that made the statements - it's the firm's own employees!

    In a suit filed in Pinellas-Pasco Circuit Court, the company says Weidner has "deliberately and maliciously" used the term robo-signers "to vilify NTC for signing documents ... when (Weidner) knew that it is entirely legally and appropriate to do so."

Ok, that's a fair claim.  Provided it's true.  But all Weidner has to do to falsify the claim is show that any of the banks involved withdrew any of these affidavits because they were signed by people without knowledge of the factual matter contained therein.  And we know they have, to the tune of about 150,000 of them.

    In the Sarasota case, Nationwide Title obtained an injunction Nov. 19, ordering Forrest to remove the depositions he posted on YouTube of employees Bryan Bly, Crystal Moore and Dhurata Doko. All three said they signed hundreds of documents at a time and Moore acknowledged she never read any of them.

But wait.... isn't the moniker "Robo-Signer" exactly that?  That one is signing something attesting to the veracity of a document and knowledge of it's contents when they haven't read it?

That's the "popular" definition of robosigning - the one that I and others use.  NTC may have a different one in mind, but somehow, I doubt that will carry much water.

What's even more interesting, however, is the tactic involved here - attempting to sue and obtain injunctions to remove a video taped deposition that would destroy the premise of your suit.  Remember, this isn't a new technique - Fannie tried to do it with a deposition of another alleged robosigner in the northeast and failed.

What I find especially humorous, however, is that under the rules of civil procedure NTC just opened themselves up to a god-awful amount of discovery in the underlying issue.

When it comes to libel and slander (different only in the "where" - libel is written, slander is spoken) the truth is an absolute defense.  If Weidner can prove that in fact the process was essentially an "assembly line" and that the signatures attesting to knowledge and veracity were affixed without actual knowledge and veracity then he wins, because his allegations, even though damaging, are truthful.

By filing this suit basically everything related to NTC's conduct in the underlying matter, including their balance sheets, billing records, whether they're paid "per piece" on production as opposed to veracity and more - all are on the table as legitimate items for discovery.

These rules are very broad for a reason - you're permitted almost carte-blanche discovery in a civil suit as regards anything that might be related to the underlying issue being litigated.  In this case since the entire issue at the bar is one of the motive of the firms involved to have employees who are "limited vice-presidents" and "limited signing agents" of dozens of banks and is inherently intertwined with the practice of law in the state courts there is going to be very little related to the firm's conduct and practice in the area of foreclosures that will be ruled off-limits during discovery.

The firm just handed a very angry, well-connected firm endowed with both a fat wallet and media connectivity near-complete access to their corporate activities and records.

I'm stunned that NTC would do this, frankly.  I can only assume they are acting as a cornered animal as opposed to someone who has rationally thought through the logical conclusion that will come from this action, as if there's anything that's not squeaky-clean the posting of depositions on Youtube is only the beginning of what's going to be put out on the public clothesline for everyone to have a look-see, and this latter and upcoming "dump" of all their possibly-dirty laundry is by their own hand!

As for the injunction, that's an outrage.  Court proceedings are public for a reason.  Depositions are part of a public process that takes place in a public courtroom.  Demanding that a court essentially force removal from the public eye statements by the firm's employees that appear to facially demolish the claims made in the suit is an outrage.  First Amendment?  Where?  The right to public court process so that the public has access to view the evidence produced in court proceedings?  Where?

These are not mere formalities or afterthoughts, they are first-level Constitutional protections that the citizens have for the explicit purpose of preventing violations of one's rights - or the law - being concealed.

Never mind that putting before a court a document you attest factual knowledge of but you haven't read is Perjury, and that is a felony in Florida.  To the extent that these documents were filed each and every one of them is a separate count; I note that in Florida withdrawal to prevent prosecution is only permitted until the perjury is either discovered or is likely to be discovered.  That is, if you withdraw a document you know is going to be exposed as bogus it's too late - you only get a "pass" if you pull it before the events that will lead to it being so-exposed come to light.

That ship sailed before banks started yanking affidavits en-masse.

When will the District and State's Attorneys start doing their damn jobs?


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Posted 2010-12-10 15:22
by Karl Denninger

Budget Deficit For November: MBS
 
Not "Mortgage Backed Security", rather, "More Bull S@2t."

The WSJ says....

    The Treasury Department, in its regular budget monthly statement, said the government spent $150.4 billion more than it collected in the second month of fiscal 2011.

Once again what the Treasury borrows is not what they report.

Play all the balance sheet games you want Treasury, this is what I say to it:

That's almost $192 billion of debt added in the month of November.

So once again, I'll call it as I see it, and as I see it, the government spent $192 billion more than it took in, and I'm willing to bet that if you get rid of all the balance-sheet games (including stealing FICA receipts) this is what you'd find.

PS: This figure is "noisy", but I report it every month anyway as soon as the "Debt to the Penny" numbers come out.  After all, we have a Treasury Secretary who can't do his taxes - why would I believe he can properly add a budget deficit.  This much I'm sure of - nobody let's you falsify a deposit ticket, and the money thus garnered from the borrowing has an actual finite, no-finagle, no-games number to it.