The Market Ticker
Commentary on The Capital Markets- Category [Politics]
2015-07-24 12:04 by Karl Denninger
in Politics , 316 references


WASHINGTON—An internal government review found that former Secretary of State Hillary Clinton sent at least four emails from her personal account containing classified information during her time heading the State Department.

Now she's got trouble.

I predicted this was going to be the case, and now it is, having generated two separate criminal referrals to the Justice Department by two separate offices, including the IG.

This is going to be very hard to shove under the carpet and bury, but you can bet they'll try.

Hillary could probably get away with sending something that was retrospectively classified (that does happen quite a bit) but this is a different matter entirely; the allegation here is that the material was known classified at the time it was sent.

That is not excusable -- and since it was a voluntary act it's definitely referrable as a criminal matter.

Here it comes, Evil One... I wonder if she's busy with the sledge and plasma torch "making sure" that the disks in the server cannot have their data recovered (even by "extraordinary" means.)

View this entry with comments (registration required to post)

The latest media-generated "blowup" is from The Donald saying that McCain isn't a real war hero.

Well, he's not folks.

You don't become a war hero by being captured by the enemy.  You might become one through what you did before or after that, but the act of being captured itself doesn't qualify because you don't choose that.

McCain is not a war hero because there was nothing particularly valorous about his service.

Moreover, and at least as important, what he did to his first wife was viperous, not valorous.

Carol McCain is a war hero.  She stuck with her imprisoned husband without complaint through his entire time being held as a POW, raising their three children alone while he was in prison.  She made a series of valorous choices.  But then she was in a terrible car accident that left her permanently impaired and John McCain ditched her for a very wealthy and beautiful heiress who not only became his lover but financed his political campaigns.

War hero eh?  I think not.

McCain is a snake who will screw anyone for his own personal and political aggrandizement.

The reason the political establishment on both sides is all over Trump for this latest comment is that mistreating those who you have taken a sacred oath to before God, one that certainly ought to be more important than your petty oath to defend and protect the Constitution (which is also routinely ignored), is treated as a sport in politics. 

Trump is right -- again.

View this entry with comments (registration required to post)

Oh c'mon.

Hillary made a big deal about how Uber and similar firms are all about improperly classifying employees as contractors, and that she wants to put a stop to it.

Let's be clear here folks: The only "big successes" in business over the last decade have been found in various forms of regulatory arbitrage and cost-shifting -- not innovation.

Let's list a few:

Netflix: Shoving off network distribution costs on ISPs, then screaming to get the pushback made illegal in formal terms.

Uber and Lyft: Ignoring taxi medallion fees (paid to the municipalities where they operate by taxi firms) and turning operators into contractors, despite controlling virtually every function of the driver's operation including the price charged to the consumer.

Tesla: Tax farming, literally -- the company would not exist without EV federal tax credits both to the firm directly and to its customers. 

AirBnB: Hotel tax and the various life-safety and inspection processes that are evaded anyone?  To be fair AirBnB has started collecting hotel taxes in some jurisdictions, but it remains evasive of short-term rental bans that are in place in a lot of jurisdictions.

Amazon: While the company has been forced into local and state tax compliance their "Nexus" evasion by setting up distribution centers through allegedly "independent" firms (and which eventually started drawing a phalanx of lawsuits that the firm bought off by agreeing to collect tax) is the stuff of business legend.  Absent that there's question as to whether the firm would even exist in today's world, as their pricing sure wouldn't have been anywhere near as competitive.

Virtually the entire pharmaceutical industry: The list of people able to pay $100,000 for a Hepatitis drug approaches zero.  Only through forced payment via Obamacare and similar can such a pricing system exist.  It gets even worse when you look at chronic drugs that in some cases can exceed a half-million dollars annually for life.  Literally nobody, other than the handful of billionaires, could pay such a sum.  There is no possible way for any of those business models to exist absent regulatory arbitrage.

Can you show me a "big innovative" firm that hasn't revolved around finding some way to cheat?  I'm not talking about a new process or idea; that's what innovation is.  No, I'm talking about cheating -- redefining employees as contractors, shoving off your costs on other people (not finding ways to grossly reduce the expense of doing something), evading various regulations through your own creative interpretation of what the law is (and hoping you get big enough fast enough that at worst you get sued instead of your executives being indicted) and grabbing "tax credits" from everyone who funds the government via paying taxes.

Good luck with that.

View this entry with comments (registration required to post)

Heh heh heh....

Real-estate magnate Donald Trump is on a roll. And three-plus weeks into his presidential campaign, he doesn't seem to be slowing down. 

Not even a phone call from the leader of the national Republican Party — reportedly asking the presidential candidate to "tone it down" when it comes to his crusade against illegal immigration — has had much of an effect. 

There's a funny thing that happens when you reach your personal threshold of **** you money: Your middle finger gets a lot of exercise.

Now this is not to say you should use it willy-nilly, but there's a point at which anyone with two firing neurons has to put a few facts on the ground together when it comes to public policy.

The first is that our so-called trade deals have been, on the numbers, an abject disaster for American employment and our economy.  They have made a very few people very wealthy, but it is a fact that every one of these deals with an emerging, developing or middle-market nation has led to a worsening trade balance with the nation we signed it with.

That's exactly the opposite of what is claimed to be expected in every single case and we have an unbroken record in this regard when it comes to the middle-tier and so-called developing world (e.g. Mexico, China,

The second is that illegal immigration is a metastatic cancer that is destroying our country.  It is a simple fact that when someone's first act upon entry to a nation is to behave in a lawless manner, and by definition when you come here without going through proper procedure you have broken the law, expecting them to suddenly give a damn about our laws and customs is idiotic.  They won't and they don't; that was demonstrated with the first step over the border.

Trump has one big flaw in his campaign to this point -- he has not, so far, talked about the 900lb elephant in the room when it comes to economics.  That's health care and the monopoly and restraint-of-trade abuses within it.

If he can go there, make the connection with the American people and sell to them the truth -- if we put a stop to that crap and jail everyone involved in it your standard of living will skyrocket he will be unstoppable.

The best part of it is that he doesn't have to twist the truth to get there.  He simply has to do what he does best: Be loud, clear and convincing.

View this entry with comments (registration required to post)

If you support, vote for, donate to or in any way contribute to this lying, treasonous bitch getting into office you are personally responsible for putting a woman into the White House that had a personal hand in arming terrorists, lied about it, got caught, and then claimed she "never received any subpoenas" over any of it.

House Republicans investigating the 2012 attacks in Benghazi, Libya, on Wednesday released a March subpoena issued to Democratic presidential candidate Hillary Rodham Clinton, one day after she said in a nationally televised interview that she "never had a subpoena" in the email controversy. 

Rep. Trey Gowdy, R-S.C., chairman of the Benghazi panel, said he had "no choice" but to make the subpoena public "in order to correct the inaccuracy" of Clinton's claim.

Clinton told CNN on Monday that she "never had a subpoena," adding: "Everything I did was permitted by law and regulation." 

Hillary Clinton has been repeatedly proved to be a lying snake when it comes to interactions with everyone.

If you in any way contribute to putting her into office you deserve the ass-ramming you and the rest of this nation will receive.

View this entry with comments (registration required to post)

Main Navigation
MUST-READ Selection:
Why I Find It Hard To Give A F**k

Full-Text Search & Archives
Archive Access
Legal Disclaimer

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.


The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.

Market charts, when present, used with permission of TD Ameritrade/ThinkOrSwim Inc. Neither TD Ameritrade or ThinkOrSwim have reviewed, approved or disapproved any content herein.

The Market Ticker content may be reproduced or excerpted online for non-commercial purposes provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media or for commercial use.

Submissions or tips on matters of economic or political interest may be sent "over the transom" to The Editor at any time. To be considered for publication your submission must include full and correct contact information and be related to an economic or political matter of the day. All submissions become the property of The Market Ticker.