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2018-08-10 07:00 by Karl Denninger
in Corruption , 252 references
[Comments enabled]  

Explain it folks.

sitting Congressman is on the board of a publicly-traded company.

Granted, a company not based in the US, but nonetheless explain to me exactly how and why this is legitimate, tolerated, and permitted by the US House?

Now he's been indicted for insider trading and has refused to resign.  But that's not the story.

The story is how is it that he came to be in Congress and on the board of the firm at the same time?

Never mind his committee assignments, which included direct oversight of the industry in question.

This is rank corruption that at first blush appears to be on the scale of Feinswine having a Chinese spy as an office manager (no, not "just a driver"), and neither she or he have been arrested or indicted -- for anything!

But in fact it's much worse because this is the sort of conflict of interest that, had anyone in the House given a damn, would have been forced into the open and resolved long before any insider trading could have happened.  The obvious - - that his oath of office and possibly violations of the law are implicated simply by holding both posts at once due to the requirement that he, as a Congressperson, have undivided loyalty to his Congressional position, is bad enough.

What's worse is when he sits on regulatory committees with authority over that industry.

I have an answer to the "how" question coming up shortly on The Market Ticker folks... and it might -- just might -- be the most important article I have ever published.

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2018-08-09 15:05 by Karl Denninger
in Technology , 126 references
[Comments enabled]  

Someone has one or more "older" discussion forum or similar systems out there that have had their password file stolen, said file was not hashed, it was in "unix" format (e.g. "login:password") and it's circulating.  I've been getting a series of spam emails that all are of the form "I turned your webcam on and recorded you watching porn; send me $x to this bitcoin address or I'm going to release it" bull****.  Oh well, I don't watch porn...... so sorry, so sad for the fear merchants.  But recently a few of them included in Unix format my email address and a very old, only-used-for-insecure-forums, password -- in plain text.

If you have used the same password on various online forums in the past if that same password is in use anywhere else change it right now.

The Market Ticker has always hashed passwords (using the internal Postgres functions to do so, which have gotten stronger over time as their algorithm support has improved.)  But there are more than a few out there that do not hash, but instead store passwords!  Most of those have been fixed by now, but it used to be trivial to know if that was the case because you could ask the system to send you your password to your email address and instead of getting a link to reset it (since the system doesn't know what it is -- only the hash of a correct entry) you'd get the password in your email!

In addition you should be extraordinarily skeptical of any browser plug-in or alleged "VPN" provider; anything that can "get in the middle" of your communications can be very bad news.  Browser plug-ins are especially dangerous since they can potentially hook the input and steal passwords, as are "custom" keyboards and similar on phones (which by definition must process what you type.)

Good "digital hygiene" is to never use "external" sign-on (e.g. use your Twatter account to log in somewhere else) and always generate a random, high-quality password for each place you log into.  You cannot control the security of some third-party site so the best you can do is make damn sure that if or when they screw the pooch the damage stops with that one site and can not propagate somewhere else.

This means you need some sort of good "password safe" (because there's no possible way for you to remember a dozen or more good, secure passwords) and its security is paramount.

I personally like KeePass because it can use a composite key -- both a key file and a password, and it is multi-platform.  Steal either the password or the key file and you have nothing; you need both.  It is of course very, very important that the key file never be put on any sort of "cloud" storage, EVER -- you must physically copy it to the devices that need it, and only the devices that need it.  If you suspect any of those devices are compromised you re-generate it and replace it.  Of course the risk with this approach is that you had damn well better never lose the key file yourself but the risk with the key file being lost is easily remedied by putting it on a USB key and then sticking THAT in your safe deposit box at the bank.  Now if you manage to lose your operating copy (e.g. your computer's disk crashes) you still have it.

In any event if you're like 90% of the people out in cyberspace you use only a couple of passwords and you use them in multiple places.  If you're one of those folks stop that right now, because there are plenty of poorly-engineered storage locations out there on various back end systems and penetrations of said sites is not unusual at all.

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2018-08-09 13:00 by Karl Denninger
in POTD , 79 references


Mixed-media, ready to hang and enjoy!  Email now to put this on your wall!

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2018-08-09 11:25 by Karl Denninger
in Editorial , 189 references
[Comments enabled]  

Because I'm a white male.

Uh huh.

One of my first real jobs (programming computers) involved working with a bunch of dudes doing hardware and myself, and a couple of others, doing software.

One of them was a Korean War vet.

The NY Times just hired someone who has declared that he should die.

Well, if he had taken her advice or simply stayed home instead of risking getting his ass blown off to free that ugly bitch's parents she'd be getting raped right now in Communist Korea -- that is, if she hadn't been put in front of a 20mm anti-aircraft gun for shooting her mouth off and blown to bits long ago, or, equally likely, she never would have been born at all because one or both of her parents would have been murdered.

Let me give you a hint, little chickie -- you're here, in this country, and free to be a bigoted, racist bitch specifically because, and only because, of white men.

WHITE MEN who decided that you, despite being the most evil, vile piece of **** I've run across in a public position in more than 20 years, were worth defending with their lives.  Many of them did not come home at all, or if they did it was in a box.

The NY Times not only has and continues to crap on everyone in this nation that makes it possible for your ****ty city to have clean water, fuel for their Ubers and Taxis, and power to run your ****ing printing press. 

You personally have **** on the very people who are the only reason you are alive and free to speak at all.

So go **** yourself, Gray Lady 10cent *****.

Yeah, I downgraded you today from 2-bit -- your blowjobs aren't worth 2 bits anymore.

Not after you hired that bigoted ingrate and defended her multi-year rants.

No, I won't forget, and I won't change my mind.

But what I will do is make my level damndest best effort to convince everyone to cut your ass off, along with everyone else in that vile town and state.

Go ahead and drink from the Hudson when none of your toilets flush -- untreated -- and see how long it takes before the jackwad taking a crap upstream from you gives you dysentery, cholera or worse.

I'll tip a glass to that day and make sure to give you credit for it.

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This article pisses me off.

Let me tell you a riddle. “I slept with a billionaire because he said he loved me. I expected to make love, but in the morning I realized I was getting screwed. When I went to tell the world, I was offered cash to keep my mouth shut.” Who am I? No, I’m not a model or someone named Stormy. I’m the American farmer.

In the mid-1980s we were awash with over production in the corn and soybean sectors. Agriculture got busy, boarded planes, trains and automobiles and started building markets around the world, one handshake and one relationship at a time. We used our own funds through our check off dollars and trade associations to build markets in Mexico, Canada, Latin America and the Pacific Rim. And we didn’t stop there. In partnership with the U.S. taxpayers, we built an ethanol industry to ensure another renewable energy source for U.S. consumers.

Your "industry" built an open, outrageous and notorious FRAUD with Ethanol for fuel. You also managed to get the EPA to shut up about the damage too; they failed to file REQUIRED reports on the ecological impact of same that was written into the RFG law and regs. Well, now it's out, it's FOUR YEARS late, and not only does Ethanol production lead to ridiculous amounts of fertilizer run-off and environmental destruction (which would happen with any crop grown that intensively, so perhaps you could be excused there) in addition it increases NOx when burnt in modern engines.

The latter means it creates more smog-forming ozone, not less. Ethanol was a decent idea back when MTBE was discovered to be a massive groundwater problem and engines in cars had carburetors and first-generation, non-closed-loop TBI injection. You can count those engines on the road today in the low single digits; outside of antiques they're all gone.

Finally, if that's not enough, it has far fewer BTUs that gasoline so it also damages fuel economy. While the percentage of damage is small (about 2%) extrapolated across all the fuel consumed that's billions of dollars and millions of tons of additional CO2 emitted into the atmosphere. I happen to not think much of so-called "global warming science" (having more than a bit of knowledge in physics and chemistry) but the economic impact of intentionally damaging fuel economy, never mind the NOx problem which is very real, is another matter entirely.

RFG should be banned and those who promoted it imprisoned for the billions you steal every single year from the pocketbooks of American motorists. Last time I checked grand theft was a felony.

Oh, and as for tariffs, well, when the Chinese stop stealing intellectual property and imposing differential tariffs and trade conditions you then have a point. They have continually promised to stop and yet not only does it not stop it accelerates continually.

You exploited this to sell to a slave-labor communist nation that was screwing us blind. We were told Mexico's $4/hour manufacturing wages (when NAFTA was passed, remember that?) would rapidly rise to near parity with the US. That didn't happen either; today the wage is.... about $4/hour. Not one person in that plant making cars or trucks for $4/hour can afford the $40,000 vehicle being made there. We got rooked, millions of Americans lost their jobs and industry disappeared. Meanwhile you "expanded your market" and demanded illegal invaders to come work your fields so you didn't have to pay employment taxes and a living wage. That's all a crime too, but nobody cared so long as you sold soybeans to Mexico and China. Every single one of you folks who has ever employed an illegal invader should be rotting in a federal prison cell. You screwed an American out of a job and millions of Americans out of a living wage and middle-class lifestyle.


I spent 30 years administering federal farm programs with the USDA. I’ve administered and supported disaster programming, conservation programming, and price and supply stabilization. I believed in those supports because I believe a strong agriculture is directly related to our national security. I’ve never administered hush money designed to make me sit down and shut up about a ridiculous protectionist trade policy that has destroyed in a matter of months what my industry built with our own hands over decades.

The president calls ‘em like he sees them, and so do I. I won’t be silent any longer.

You didn't build ****, except for robbing people blind.  Rather than allow the supply and demand side of things to do their magic, along with the fact that you can sell forward production in the futures market if you're concerned, instead you want "price and supply stabilization."

May I remind you what that is:  Wickard .v. Filburn, ****head.

Yes, you, ****head, the Supreme Court decision that on the very rubric you support and spent 30 years screwing the entire rest of the nation with has led to the Federal Government declaring that every thing that anyone does, anywhere, anytime, in any industry suddenly has "interstate commerce" implications and therefore is subject to federal regulation.

Even growing your own ******n corn for your own family to eat is subject to federal regulation -- that you support and spent 30 years screwing the entire nation with.


You had a good run and I hope you enjoyed ramming all of the rest of America up the backside. We, who have great respect for farmers, do not have respect for anyone who exploits others no matter their nationality or standing in this country or what they do.

That includes you.

I am no fan of Trump in the general sense but on trade he's right, even if he doesn't understand the how or why.  On ethanol, which he has sought to increase, he's dead wrong -- on the facts, on the law, and on the science -- none of which he, or you, give a damn about so long as you make money.  There are several words for that and they include "avarice", "greed" and perhaps even "Satanic."

The very exploits you complain about losing today are the reason we have a Federal Government out of control.  They are the reason half the nation, those on the left side of the curve, have seen all their jobs go to China and Mexico.  They are the reason we have an opioid epidemic that is killing people by the tens of thousands who cannot find living-wage jobs with their abilities and skillset.  They are the reason health care is a ****ing monopoly that costs five hundred percent what it should and would if the damn law was enforced.  They are the reason we have lost our 50 state political laboratories and it was all so you could poison our water and screw motorists out of billions of dollars, along with selling soybeans and corn to China and Mexico.

Take a bow if you wish but you get this in response: smiley

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