The Market Ticker - Cancelled
What 'They' Don't Want Published
Logging in or registering will improve your experience here
Main Navigation
Sarah's Resources You Should See
Sarah's Blog
Full-Text Search & Archives
Leverage, the book
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. For investment, legal or other professional advice specific to your situation contact a licensed professional in your jurisdiction.


Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility; author(s) may have positions in any firm or security discussed here, and have no duty to disclose same.

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 sent unmodified to lawmakers via print or electronic means 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, to republish full articles, or for any commercial use (which includes any site where advertising is displayed.)

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.

Considering sending spam? Read this first.

2022-12-01 07:00 by Karl Denninger
in Foreign Policy , 502 references
[Comments enabled]  

Many have wondered about the utter insanity of China's "zero covid" policy and why its being maintained after a couple of years experience in which it fails repeatedly, and the virus keeps popping up.

"Zero covid" was always medically and physically bankrupt.  Even masks are bankrupt as we knew all the way back to 1981 with Neil Orr's seminal study on the matter in operating rooms where everyone was a trained professional.  That's the best possible test environment with no confounders, since everyone is trained and all the things in the room are sterilized -- and everyone scrubs in before entering.

Yet the results were what they were: The operating rooms where masks were not in use had decreased infection rates -- in the same hospital.

This study spurred several others, including one where they put micrometer-sized spheres in the masks before people donned them.  They then found them in the wounds of the patients, which proved that (1) whatever the physician or nurse had in their mouth, nose and lungs was getting through and around the mask and (2) it wound up on and in the patients.  This should have settled the debate immediately, but despite being reported, peer-reviewed and published all of that was ignored when Covid showed up.

Back in 2020 I pointed out the likely reasons for this outcome and that masks had a high probability of increasing risk rather than abating it, and made exactly that presentation here at a County Commission meeting.  Every one of the Commissioners and our Mayor deserves to be in prison for intentionally increasing the hazard to residents and visitors here post that meeting.  All of them should be in prison -- right here, right now, and should in fact rot there.

Nobody can claim to be ignorant of any of the basic facts; your car has an air filter because micrometer-sized dust particles are where basically all of the wear your engine takes come from.  GM ran a seminal test decades ago and showed that every engine wears out after approximately one teaspoon of dirt passes through it.  That one teaspoon can take 10 minutes to go through the engine or 300,000 miles and 20 years, but that's how much dirt is required to destroy the clearances necessary for proper operation and as long as that does not happen the engine continues to perform, absent mechanical failures, within spec.

All such filters -- in your car (for both air and oil), in your furnace, in a dehumidifier if you have one, in your vacuum cleaner (the bag and/or exit filter in a bagless unit) and more are designed to flow air through them in only one direction for this exact reason.  The "clean" side of the filter is always the same from the time it is installed until it is discarded and backward flow is never allowed because if it is you will expel some of the trapped material back into the allegedly "clean" space.  Turn your furnace filter around and re-insert it and you're about to have a huge cloud of dust come out of the vents!

Yet a mask that does not have an "exhaust valve" inherently does this every time you breathe.  It thus transports whatever it traps to other places and then releases the trapped material in the new place.  If someone coughs in your presence while wearing one outdoors as you near a place of business when you step inside having trapped that virus in the mask and exhale you just took a virus that would never harm anyone as it dissipates in seconds into the air outside and expelled it into the air indoors where it can infect someone.

People claimed "N95s" will solve this.  Nope.  Even fit-tested and worn properly, which medical people are trained to do (as is anyone else who's had such training, such as I) they are nowhere near 95% effective in real use.  They're better than nothing at all but if you've ever worn one while, for example, sanding drywall you know damn well they reduce but do not prevent the dust getting around them, and that dust is many multiple of the size of a virus.  We now have a published, large, multi-national study proving they don't work -- again, just as all the other studies have proved they don't work over the last forty years.

China believes they can "test and interdict" Covid.  False, as now proved by more than two years of them literally welding people into their apartments or forcibly relocating them to "quarantine camps."  The virus hangs out patiently and then infects people; all you've done is change the time to infection and the build of natural recognition of the virus and thus protection, not the outcome.

So why do they keep doing it?

That's predicated in their social-political system.  China's leader, in this case Xi, is seen as being effectively "God" who cannot be wrong.  To admit that he was wrong means he loses his "stick" and thus his claim on the leadership!  This has been a feature of China's social and political system for millennia.  This is intertwined with the CCP and its premise of communism; you can't choose a political party or set of beliefs in China and be a politician, there is only one choice and it is always correct: Communism, Chinese Style, and the collective decision of same is infallible.

In short China can't change its position in this regard as they've gone "all-in" publicly early on and to make said change is to admit they were wrong, which they will not do.  Were Xi to do so he would lose his position and quite-possibly his head.

That's why they are even now building more isolation "camps" and quarantine facilities -- despite it being known that their policy in this regard is epidemiologically bankrupt and it is physically impossible for it to succeed.

Incidentally, we in the western world can learn from and exploit this foolish position of the Chinese government and people.  It provides us with a very nice little niche in their alleged "bedrock" under their civilization and government into which we can insert a very large prybar and bring the entire thing down without firing a single shot.

View this entry with comments (opens new window)

2022-11-30 07:00 by Karl Denninger
in Musings , 492 references
[Comments enabled]  
Category thumbnail

Of course its "non-binary" that's thrown around as an excuse, or perhaps as a "celebration", of what appears to be hard evidence of a felony -- specifically, stealing a rather expensive piece of luggage.

Brinton — who serves as the DOE's deputy assistant secretary for spent fuel and waste disposition — allegedly took a Vera Bradley suitcase worth $2,325 from the luggage carousel at the Minneapolis St. Paul Airport (MSP) on Sept. 16, according to a criminal complaint filed on Oct. 26 in Minnesota state court and obtained by Fox News Digital. Brinton had traveled from Washington, D.C., to MSP that day.

Yes, bags look alike sometimes.  But in this case surveillance video shows he removed the owner's tag on the bag while in the airport, so this was hardly a mistake.  And further, he denied stealing it when the cops called him.

"There’s been a lot of people who are quite upset that don’t think that I am quite as qualified as others," Brinton told E&E News in October. "I respond with multiple graduate degrees from MIT, a decade of working in nuclear policy and the strongest enthusiasm for working in nuclear waste out of anybody."

Actually my opposition was based on an entirely-different premise: He's nuts, and people who are nuts have no place in our government in sensitive positions, specifically in this case those dealing with highly-dangerous spent nuclear fuel.

Now, months later, my position that he was unfit to be there has been vindicated by this incident.

It's not an accident when you deliberately remove the owner's tag from the luggage while still in the airport and it is caught on camera.  While one can argue past transgressions all you'd like this isn't in the past, its in the present and comes after he ascended to the position so in addition it is hard evidence that said person is incapable of policing their own conduct even when they know they are in a position of great public responsibility.

In other words I and others who questioned his fitness, based on his public presentation, have now been proved correct and not only has the Biden administration been proved wrong it has been proved intentionally reckless for appointing him in the first place.

View this entry with comments (opens new window)

2022-11-29 08:08 by Karl Denninger
in Editorial , 559 references
[Comments enabled]  
Category thumbnail

I tire of this crap and you should too.

Musk is "allegedly" going to "release it all" related to Twitter censorship -- on twitter.  So he threatened.

He intends to do so no such thing.

Musk is a businessman.  So am I.  We both have decades of experience.

The only reason you threaten to do something is because you are attempting to use it as leverage to get something else.  The technical word for this is extortion and, in certain cases its illegal -- but in others it is a tactic, its legal but you only do it if you don't want to actually do the thing you're threatening to do.

In other words its a manipulation tactic aimed at the other party.


Because if you really intend to fuck up someone's world and you have the goods then you just release it.  No warning.  Ever.  The reason is transparent; the person who you are targeting has no opportunity to try to negotiate, employ some sort of pre-emptive action to head you off, or even come after you in the courts and ask for an injunction (or kill you, if they don't care about the law.)  You maximize the outcome by giving no warning of any sort and you wildly increase the odds that the damage served up by your action is maximized.

Nobody who truly intends to redress a wrong or expose someone else's jackassery gives warning first.  Ever.

The correct response to someone like Musk who says they're going to "drop a bombshell" is always the same:

Fuck off asshole.

"Trust the plan" was the same sort of horseshit.

Now you're piling in on the same line of crap from Mr. Musk.


Remember Trump promised to (1) release all the data and (2) trash the medical monopolies, never mind (3) "lock her up"?  He did none of it.  He had the capacity to do so; as President you can declassify and release anything, no matter what it is, and there's nothing anyone can do about it.  He can also direct his AG (who he does select, appoint and can fire) to do so.  All he did was threaten and you got nothing but a load in your mouth -- and a dead Grandmother when you let him roll all over you "trusting the plan" when a virus showed up.

Now you're back in line for your turn with Musk.

View this entry with comments (opens new window)

2022-11-27 07:00 by Karl Denninger
in Musings , 916 references
[Comments enabled]  
Category thumbnail

Most of the time I entirely disregard and refuse to comment beyond "you're nuts" when it comes to crazy.  Feeding crazy just makes more crazy; as everyone knows whatever you feed you get more of and make it stronger, so the best way to deal with crazy is to ignore it up until the point that it threatens to materially harm or kill you -- then you do whatever you must to stop it, laws be damned.

But this is, in my opinion, an exception to the rule because crazy is insufficient to explain it away and its dangerous to you and others.

I am speaking of the so-called "World Premiere: Died Suddenly" hour-long demonstration of crazy on Rumble.

The presentation starts with an indication that crazy is about to be on display; a rundown of various ridiculous nonsense litters the first minutes, including thinly-veiled attempts to claim, for example, that man never went to the moon.  If you're one of the people who believe that then you can stop reading here, because you must figure out where all the Saturn V rockets went, how they managed to launch them all, where the obviously-burned heat shields on the capsules came from on the recovered capsules, that the Service Module on Apollo 13 didn't really blow up and more.

Mixed in are very-well documented facts; "Project Mockingbird" is just one of them.  One mark of crazy is to take that which is real and conflate it with that which is flat-out insane, then claim they're both real because one is known to be true.  The problem is that this very same thing is also a tactic used by people who are trying to label something that is happening false and the product of deranged minds, that is, crazy, rather than deal with said reality.

What we, at this point know is factual is the following:

  • Covid is not, by itself, a particularly-lethal virus.  Whether it was originally an attempt to create a coronavirus vaccine that "got out" in half-baked form (which, the evidence suggests is the case) or whether it was a convert bioweapon attempt (highly unlikely for reasons I've talked about at some length) the fact is that it, like all other historical coronaviruses, followed the same rules and rather rapidly mutated as have all other viruses in the same family to become far less-troublesome and, in fact, was basically "off the table" in its original form before any sort of jab could be developed, even if you were willing to accept an untested jab.  There was thus no reason to develop one beyond raw panic -- that is, crazy, because there was no evidence in the historical record of virology that you could do so fast enough to outrun natural mutation even if you could evade the risks of using untested products.

  • Our wild-eyed (again, crazy) mismanagement of Covid dramatically increased the death rate.  This was not limited to the United States, but it certainly was on display here.  The use of multiply-disproved drugs in hospitals (e.g. Remdesivir, which failed on safety for Ebola, I remind you) is one of the most-obscene examples of this -- but hardly the only one.  We knew in April of 2020 that ventilators were worthless as they failed more than 90% of the time in Wuhan, yet we actually involved a wartime law called the "Defense Production Act" to produce tens of thousands of them that not only weren't necessary as we had enough of them they didn't work.  To add both insult and mortality we then paid hospitals to use known failed therapeutic approaches, including both of the these.  It is likely that half or more of all who died with Covid were in fact killed by these practices and yet we also invoked the "PREP Act" and shielded said physicians and facilities from legal liability for what in any rational circumstance would be considered mass-manslaughter or even depraved homicide -- Murder 2.

  • The jabs were known to be seriously dangerous before they were rolled out and they were also known to be ineffective at preventing infection or transmission to others.  Both of these facts were intentionally and maliciously concealed by both government and private actors who colluded to de-platform, cancel, censor and in the case of licensed professionals attempt to destroy anyone who dared expose their lies, all of which were trivially documented in public, published medical papers including the trials for the jabs themselves.  Birx has admitted she knew that the jabs could not stop transmission before they were rolled out and thus there was never a "public health" argument for their distribution and use even if they were entirely safe.  Yet even today the government continues to peddle a lie -- that you "protect others" by taking these shots.  That severe damage was likely in at least some percentage of those jabbed is not speculation either and was known before the campaign began; the Salk Institute paper published in December of 2020 very-clearly identified that the spike protein alone, absent the actual virus itself, was dangerous to the endothelium -- the layer of cells that line every blood vessel in the body.  Any sane person, upon seeing that evidence, would have stopped any alleged therapeutic path that did deliberately introduce a substance that would or could "make or contain" spike into the circulation.  All jabs do exactly that and yet that was not done.  This was the exact same crazy-land nonsense that generated paying hospitals to use ventilators and disproved and dangerous drugs.

  • There is a very serious and persistent increase in all-cause mortality that has shown up in highly-jabbed populations worldwide since the rollout of these jabs began.  Since the increase clocked exactly with that rollout and not with Covid itself and has positive association with the jab uptake rate in the US on a county-by-county basis you cannot "charge" this change to "Long Covid" or any other element of the virus itself since the virus is indiscriminate and there is no evidence that on a county-by-county basis more people have been hit by Covid in one place .vs. another.  Indeed at this point in time by seroprevalence essentially everyone in the United States either has had Covid, been jabbed or both so if the association with was Covid itself the differentiation on jab status would either be negative (if the jabs prevented infection) or null (if it didn't but wasn't the cause.)  Instead it is positive which is very solid evidence that the mortality trends, which are running materially above baseline all over the world in highly-jabbed populations, are caused by the so-called "vaccines."

  • We are now seeing a nasty spike in RSV morbidity among infants. While there is no "smoking gun" yet there is a very concerning preprint out in The Cell which appears to demonstrate that jabbing mothers may harm immune transfer to the fetus.  The paper does point out that both infection and vaccination can cause this, but the association with the amount of damage is materially higher for those jabbed than those infected.  You could take the preprint and scoff at it standing alone except that we now have a large surge in infants with serious RSV infections while the usual course of them making kids mildly or moderately ill is still occurring.  However, both in 2021 and this year but not prior to that we're seeing a wildly-elevated rate in infants, which were of course born in the previous months after we started jabbing women, including pregnant women.  This is not, of course, proof -- but it is quite-strong evidence especially when combined with the preprint paper in The Cell that lays out a reasonable explanation which would tie it directly to mothers screwing their newborn infants by being "vaccinated" against Covid during, in particular, and perhaps prior to pregnancy and since the same thing did not occur in 2020, after Covid began but before the rollout of jabs Covid infection itself is likely disproved as the causative factor.

Think of it this way, which everyone can relate to:  We all know smoking causes lung cancer.  My Aunt Marg was a literal chain-smoker at least for as long as I was aware of her, that is, about the back third of her life, and from what I understand she didn't start roughly when I became aware of my surroundings.  She died well into her 90s of kidney failure, never being hit with lung cancer.

Yet nobody, despite the fact that she smoked like a coal-fired locomotive, would ever claim that smoking wasn't dangerous even though it didn't kill her personally.  Indeed she knew damn well it wasn't good for her but smoked anyway.

The same applies here except that in this case we're putting up with the government doing what the tobacco companies did for decades -- that is, knowingly lying about the safety of these products.  Just as the tobacco firms knew smoking was dangerous and yet claimed otherwise the data in this case is actually not just known by the government and pharmaceutical firms its published where anyone who cares to can read it and yet we still permit these lies to be promulgated, promoted and even mandated by various entities.

What's worse is that we're allowing governments to provide liability shields for the peddlers of dangerous products instead of forcing them to defend same in courtrooms when allegations of harm arise.

Wrapping any of the above in a tin foil hat laden load of garbage or ascribing it to a "depopulation agenda" is either the work of someone crazy or its a deliberate attempt to discredit the truth.  Which is in operation here I cannot prove but from my point of view it does not matter which it is.

Both are equally dangerous and worthy of scorn at minimum and, if intent can be shown, much worse than simple scorn is called for.

View this entry with comments (opens new window)

2022-11-26 07:00 by Karl Denninger
in Personal Health , 914 references
[Comments enabled]  

Of course they also buried the lede all the way down to the last paragraphs, but if you take a "booster" or even a primary jab at this point, after reading this, you are not only in a trance your IQ is smaller than your shoe size.

A new preprint study from researchers at Harvard and Yale estimates that 94% of Americans have been infected with the virus that causes Covid-19 at least once, and 97% have been infected or vaccinated, increasing protection against a new Omicron infection from an estimated 22% in December 2021 to 63% by November 10, 2022. Population protection against severe disease rose from an estimated 61% in December 2021 to around 89%, on average, this November.

In simple English:

  • 94% of Americans have had Covid and, assuming they were not vaccinated at the time they got it (ha!) they also have recognition of the "N" protein which is conserved across variants because it is much smaller and cannot mutate much without being destroyed as a working virus.

  • 97% were either infected or vaccinated.

Now think about this for three seconds and what's obvious is that the jabs only prevented THREE PERCENT of the population from getting the virus.  They're worthless; either they didn't work at all or their "protection" waned off so fast that for all intents and purposes you took the risk of using them for no benefit because you got infected anyway.

Less than five percent of those who took the jabs were actually protected from getting the disease.  Its worthless.

The so-called "protection from severe disease" is a lie.  A vaccine must prevent you from becoming infected and capable of passing the infection to others.  If it fails to do that it is not a vaccine; it may be a prophylaxis (that is, something you do to lessen or mitigate the outcome of a potential future event) but it is most-certainly not a "vaccine."

That this was going to happen was something I predicted when we first started working on these because coronaviruses all have highly-mutating "S" (or spike) protein structures.  That is why previous attempts to develop a vaccine have all failed; that part of the virus mutates faster than you can change the formulation and deploy it, and if you try to use the "N" protein part in all trials to date against all coronaviruses the imprinting on your immune system is defective and makes the infection worse instead of protecting you.

That latter fact is why the jabs were formulated to be "spike-only", but unfortunately it is the spike that damages the body and that is not unique to Covid either; the same is true for OC43 when one looks at the 1890s pandemic which featured people dying of the same sort of symptoms we saw this time.  We then had the Salk paper out in December of 2020 that characterized this damage and tied it directly to the spike protein even in the absence of infection by active virus, which meant by that time we (1) knew what the "agent" in the virus was that would kill if if it did, (2) knew that only severe and fatal infections led to viremia, that is, virus in the circulation, so only such an infection could kill you and thus early treatment to slow down or interrupt replication and defend the lungs directly were the key to success if you were going to do anything at all and finally (3) that deliberately introducing the spike protein into the circulation via a jab was criminally stupid as it was guaranteed to produce some level of injury to the circulatory system in every single person who it was given to.

Now if that injury was a trade-off and accepting it prevented you from getting the virus at all then, if the odds favored the jab, that might still be worth it. But we knew before the jabs rolled out, as the data from the trials showed and Birx admitted, that this was not the case.

Now CNN admits that the jabs do not stop infection or transmission because statistically speaking only four percent of those who got jabbed avoided becoming infected anyway.  That is, statistically speaking they are worthless as a "public health" measure in that they do not stop you from getting infected and giving it to others.  In fact, to the extent that they reduce symptoms they might make it more likely for you to give the virus to your grandmother and kill her because if symptoms are suppressed you have no idea that you're sick and thus won't stay away from her.

The real "screw you" is that allowing, say much less "forcing" health care workers to take them has killed a huge number of people because by reducing their symptoms they become spreaders of the virus to people who are almost by definition at high risk of a bad outcome.  You don't go to the hospital unless you're seriously injured or ill, and healthy people rarely see a doctor either -- while those who are medically frail and thus at crazy-high risk frequent both.

Where is justice for those who pushed this garbage despite all of this being known before it started?

Oh, by the way, they're not even apologizing now and are still trying to push this dangerous and ineffective crap into your arms.

For that they should be indicted, tried, convicted and hanged.

View this entry with comments (opens new window)