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Karl Denninger : Inthon

The Market Ticker blog, written by Karl, is simply fantastic.  He elegantly points out inconsistencies, lies and facts which the media forget or choose to ignore.  Karl goes above and beyond by taking the time to document his findings in plain English so that a lay person can understand the lies and distortion that have become the economy.

Two GEMS by Karl.

1)  Catches Barney Frank lying.

I’ve always said the American dream should be a home – not homeownership,’’ said Representative Barney Frank, chairman of the House Financial Services Committee and one of the earliest critics of the Bush administration’s push to put mortgages in the hands of low- and moderate-income people. – Barney Frank, boston.com article

Now watch the clip…

Quote of the clip… the last 12 seconds:

…but you’re not going to see the collapse that you see when people talk about a bubble.

Barney Frank is ideologically bankrupt, intellectually dishonest and self-serving.

He pats himself on the back when things to go right, then claims no responsibility when things blow up in his face.  Anytime people say that Barney Frank is “working on a bill”, remember this clip.  Thank you, Karl, for finding this and sharing it with the public.

2)  The truth about the overvalued stock market:

Let me note that this is all short-term trading there is absolutely no intelligent way to INVEST for the “long term” in a market that is acting as this one has been for the last month and change.  The only INTELLIGENT thing to do as a LONG TERM INVESTOR in a market that is blowing off on a parabolic spike engendered by LEGALIZED ACCOUNTING FRAUD (the FASB “MTM” change) is to SIT IN CASH, as it is essentially impossible to know WHEN that fraud will be exposed and cause the market to return to underlying fundamental value BUT IT IS A CERTAINTY THAT IT WILL OCCUR.

Again, what does it take to get this covered on CNBC or any major news outlet?  Every CNBC guest spot ends with a BUY recommendation for some fund manager.  CNBC never mentions the P/E ratio is still over 100 for the S&P.

Karl Denninger does a fantastic job of not only understanding economics, delving into the details and reporting his nuggets of wisdom, but he also agitates for education, awareness and activism.

He takes the time to understand the issue and present the facts in a useful manner.  He does this without any allegiance to any bogus political “party”.

Takeaway: The media love to broadcast whatever sells ads (Sarah Palin news, celebrity gossip, the newest pill to pop, the latest diet miracle, etc.).  This is rarely compatible with useful, important information.

The websites on the right-side of the page have taught me more than CNBC, network news and my college finance professors combined.  Seek out the best friends possible, best sources of information possible and best “food” for your brain possible.

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Comments

One Response to “Karl Denninger”

  1. IgledsonNo Gravatar on November 20th, 2014 8:43 am

    ” a kind of chicken” above asked a very good qutseion, which perhaps may be summed up “Is it all about pumping money into the markets?”I think fundamentally it is about preserving the “eco-system” of society.For this reason, I think banks should not be allowed to collapse. Instead they should be saved but nationalized as per PM Gordon Brown proposal which was taken up by EU and apparently also by the US. For the same reason of saving this “eco-system”, retrenchments should also be closely monitored and strictly controlled by governments. But ironically in Singapore the government bank DBS was the first bank to start retrenching and many people at that.Excess llike multi $million dollar salaries and bonuses for bankers (and politicians as in Singapore) should also be done away with. Lack on the other hand should be forbidden and this requires a social safety net represented traditionally by state welfare.Although in Singapore, the government thought it has created a better alternative to state welfare through the CPF system, it now turns out that the money had been squandered by the government through all kinds of stupid investments. An estimated S$100 billions or more of the reserves – which made up largely of CPF savings – had gone down the drain in 1 short year. How is the future of the people going to be assured? Only by reinstating state welfare.If the eco-system of society is preserved, the lack of money is secondary. This is because the real value lies in a developed eco-system, the developed market. It is like if you are healthy and skilled, you should’nt worry too much you don’t have much money because you can still go out and earn them.Money is an artificial thing created by humans to represent value. But real value lies in skills, infrastructure, industries, even family cohesion, peaceful co-existence among races, law and order.Governments just need to curb excess (greed) and lack among the people that may wreck up the eco-system. For now it is only right governments provide as much money as they can to failing banks and major industries caused by the liquidity problem.This begs he qutseion why Lehman Brothers was allowed to collapse and caused by a fellow bank JP Morgan as reported in this . Furthermore the state of other big banks like Citibank, Merrill Lynch, UBS and Barclay – which incidentally the PAP has invested more than S$40 billions into and now worth only a fraction of their value 1 year back – are also on the verge of total collapse..The US govt should see to it that this does not happen, even though their bankruptcy can result in writing off for good $trillions of derivatives that other nations have bought up with their trade surplus. Obama should not allow the banking power brokers behind to orchestrate all this.

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