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Yes, This Is YOUR Fault
The Market Ticker ^ | October 18, 2013 | Karl Denninger

Posted on 10/20/2013 12:59:45 PM PDT by kiryandil

Read carefully folks, get up, go look in the mirror, and then punish yourself as you see fit for putting people in the street in this fashion, because it is your fault and you are responsible for it:

Freeland lived with family for a time, she said, and four months ago moved into transitional housing funded by the city government in Washington, D.C., while searching for work that pays more than her $8.25-an-hour retail job. Having lost her oldest son in a 2000 homicide, Freeland said she insists on looking for housing in a safe neighborhood for her surviving one, now 17. She found that’s available only at an increasingly steep price.

“You’re trying to pay car insurance, rent, electric, cable and if you’re using public transit, putting money on your card, groceries,” said Freeland, who was accepted into a program that provides temporary housing, financial planning and job-placement counseling. “It’s hard to survive out here.”

This is what "asset price appreciation" brings.

It comes from ever-larger amounts of debt in the system compared against production.  Debt (credit) spends exactly like money, and its creation causes asset prices to rise.

That in turn means that rent on such an asset (a house) requires more and more in order to earn a reasonable (positive) rate of return for the holder of said asset.

When the limits of that person's ability to pay are reached they wind up homeless.

The reason this imbalance happened in the first place is not because wages are depressed, it is because the debt accumulation in the economy, including particularly the increase of debt issued by the Federal Government of 70% over the last five years, drives asset prices. 

You, America, most-particularly including those cheerleaders on CNBC, Fox Business and elsewhere in the "financial sector" are cheering on a daily basis the destruction of these people and celebrating their ruin.

These acts have now driven the average national two-bedroom rent to double that which can be afforded by these low-income households.

Again: Who's responsible for that?

You are.

You are personally responsible.

You rail against the "Tea Party", you voted for this, you support it, you demand it.

YOU, PERSONALLY, Mr. Daily Kos Reader and every single Democrat along with 90% of the Republicans, are financially ****ing this woman and her child on purpose.

You.

You the Bishop, the Priest, the Deacon, the housewife, the husband, the young Democrat, the old Democrat, the President, Nancy Pelosi, Harry Reid, Huffington Post, all the rest -- including most on the right such as Mitch McConnell, John McCain and John Boehner.  Even most of the so-called Libertarians are directly and personally responsible for this ****.

The exceptions?  A tiny minority of Americans, such as myself, who stand for an immediate balanced budget, immediate end to deficit spending, and One Dollar of Capital enforced against all financial institutions so as to prohibit, under penalty of law, this sort of debt "printing" at a rate that exceeds economic output. 

Unless you, under all conditions and without exception, vote for only such persons as will enact these policy steps and will take any and all necessary actions to stop the further accumulation of that debt by government and all fraudulent private credit creation, including going personally on strike even if it costs you, you are personally, jointly and severably responsible.

That, my friends, is a fact.


TOPICS: Business/Economy
KEYWORDS: conspiracy; denninger; economy; marketticker
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To: kiryandil
When I have said the same to my friends and associates, they look at me like I'm crazy. For some reason, they think that big government is wise and genuinely wants to help.

The bozos in DC are so incredibly stupid insane that, back in the 90s and 00s, they thought that low interest rates and zero down payments would bring about "affordable housing". The media pushed this line hard, and most folks believe it. But all that artificially low interest rates did was inflate house prices, and the zero down payment pumped the bubble full of mortgage money that could not possibly be repaid.

"Student loans" have created the same phenomenon in higher education costs and put an albatross of debt on young people.

After 2008, any reasonable person would have learned from his mistakes. But like a broken, degenerate gambler at a craps table, the federal government has decided to take another line of credit with some Chinese loan sharks and doubled down. Seven come eleven, the Keynesian multiplier is going to work this time 'cause baby needs new shoes. There truly is no social problem that government cannot make worse.

41 posted on 10/20/2013 3:09:05 PM PDT by Skepolitic
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To: kiryandil

I’ve been advocation a national strike for over a year. Not that I’m anybody.


42 posted on 10/20/2013 3:28:31 PM PDT by little jeremiah (Courage is not simply one of the virtues, but the form of every virtue at the testing point. CSLewis)
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To: Skepolitic
The bozos in DC are so incredibly stupid insane...

In addition to the "affordable housing" insanity, they also believe that choking off cheap energy in a country that was built on cheap energy is somehow economically sound.

They're freaking whackjobs, and they have most people believing the whackjob Green Planet horsepoop.

43 posted on 10/20/2013 4:10:04 PM PDT by kiryandil (turning Americans into felons, one obnoxious drunk at a time (Zero Tolerance!!!))
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To: Starstruck
my bad, i thought it was a fictitious name simply used as an example... i wish them not on you either
44 posted on 10/20/2013 4:30:47 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY)
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To: Bryanw92
or bringing it with them and infecting more of the country... like foreigners moving to America bringing their culture with them

sorry but i don't see it ending well, kinda like forcing section-8 housing into nice middle class well kept neighborhoods then wondering why property values drop

i've seen it happen, and it's not pretty

45 posted on 10/20/2013 4:42:50 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY)
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To: Chode

>>sorry but i don’t see it ending well, kinda like forcing section-8 housing into nice middle class well kept neighborhoods then wondering why property values drop

Then, don’t bitch about the LIVs staying stupid and living on your tax dollars. The problem with section-8 housing is they live in your neighborhood, but bring their hoodlum friends out of the ghetto every Friday and Saturday night. Move them to a white-bread town where the hoodlum density is almost zero and they can’t cluster. You don’t move them all at once either. Bring in a few and let them be assimilated into our culture. Once they learn to work and study and they aren’t worried about gunfire hitting their house, they might just become good citizenship teachers for the next few you bring in.


46 posted on 10/20/2013 4:48:46 PM PDT by Bryanw92 (Sic semper tyrannis)
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To: lastchance
feh... spawn: A person who is the issue of a parent or family.

feel free to let them live with you

47 posted on 10/20/2013 4:51:38 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY)
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To: Bryanw92
if there were jobs that would be one thing, but there aren't any, not even for those already living here, so they would be on welfare anyway... and with no work requirement they can't be made to take jobs even it they were available!

then where do you put them in a tight housing market since out here in the boondocks we have very few apartment houses other than section-8 anyway, unless you rent them a whole house which is seldom a good idea and it has to meet welfare codes that don't exist for you or i if we rented it

i see no good solution

48 posted on 10/20/2013 5:09:48 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY)
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To: Bryanw92

“humble little Pig Balls, Kansas”

Pig Balls? If you have to create a demeaning hypothetical town name then insult your own state, Florida. Don’t insult mine.


49 posted on 10/20/2013 5:37:10 PM PDT by Pete from Shawnee Mission
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To: kiryandil

I wish I could ! But they don’t _get_ IT !

My friends, family, even my wife doesn’t seem to _get_ it !

They are all miserable. All say things to me that equal the same thing : They want my lifestyle.

My lifestyle is RIGHT HERE. I don’t have extra arms, a time machine or telepathy. I’m a normal dude that simply said “ENOUGH” and tried (went through a TON of failures) to change things.

So my employees are no different. They ask me : “When did you become self employed?” and I say “18.” And then they say “I wanna be like you !” and I say “Cool ! Stay late tonight with me and develop a budget for next year that will allow 15% growth!” and they say “Yeah... I .. I uh .. gotta go home and .. uh ... play world of warcraft”

So there you have it. Guess who just declared their worth to my company ?


50 posted on 10/20/2013 6:28:20 PM PDT by Celerity
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To: Chode

We both know you meant it to be insulting. If they have done something that warrants you knowing they would be poor neighbors than write what that is. She may very simply want to improve her situation. The problem is not tha,t but the likely fact she wants the solution to come from the very source (the government) instead of from her own initiative. The multiple programs foster dependency and even punish a person’s attempt to better their lives.

I admit there is a large group of people who are quite content to live in situations that appall us rather than give up the multitude of benefits available to them. They get angry at any suggestion that maybe they are not owed every thing they desire. But this woman did not come across to me as being like that.

As for her moving in with me. Did I suggest that she should move in with anyone? I would welcome any hard working, honest, and caring person as a neighbor. Better her than the likely people that Holder believes too many neighborhoods in the hinterland lack.


51 posted on 10/20/2013 7:31:18 PM PDT by lastchance ("Nisi credideritis, non intelligetis" St. Augustine)
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To: kiryandil

Since when is cable TV a necessity?


52 posted on 10/20/2013 7:44:32 PM PDT by ViLaLuz (2 Chronicles 7:14)
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To: lastchance
you make a couple good points but people her age are usually fairly set in their ways and very hard to change and i somehow doubt moving out here into the boondocks would change that much...
53 posted on 10/20/2013 7:56:22 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY)
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To: ViLaLuz
Since when is cable TV a necessity?

Dunno. Gave it up years ago. Looking forward to the decade mark in a couple of years.

54 posted on 10/20/2013 8:44:56 PM PDT by kiryandil (turning Americans into felons, one obnoxious drunk at a time (Zero Tolerance!!!))
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To: Chode

You are probably right on that point. As long as she believes it is always the responsibility of somebody else to solve the problems in her life, her problems will follow her where ever she goes.

I understand wanting to get away from crime. What I don’t understand is the failure to grasp that if you have X amount of dollars you will need to buy goods that fit into that budget or do without. If money gets very tight you first have to prioritize and then if you really can not meet the essentials ask for help. Don’t ask for help with the essentials just so you can keep enjoying extras.


55 posted on 10/20/2013 9:51:27 PM PDT by lastchance ("Nisi credideritis, non intelligetis" St. Augustine)
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To: lastchance
100%... and i bid you good night
56 posted on 10/20/2013 10:00:30 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY)
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To: kiryandil

Sorry, but his vocal support for the Occupy Wall Street socialists pretty much destroyed any credibility he might have had.

OWS was nothing more than a means for the left to distract from the deficit/debt issues by changing the subject to the supposed crisis of income inequality. And it was, for a time, successful in changing the subject. The whole 99% meme is still with us. Denninger supported that crap.


57 posted on 10/21/2013 9:10:08 AM PDT by Longbow1969
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To: Longbow1969
Sorry, but his vocal support for the Occupy Wall Street socialists pretty much destroyed any credibility he might have had.

Sorry, but his vocal support for the Occupy Wall Street socialists pretty much destroyed any credibility he might have had with FReeper Longbow1969.

There. Fixed it for you. I could care less about your opinion of Denninger. You're just some anonymous dude on a forum who's got an axe (or longbow) to grind with Denninger.

Let me know when you start writing opinion pieces several times weekly. I'll read them, and let you know how you stack up against people who do it day in and day out.

58 posted on 10/21/2013 11:55:18 AM PDT by kiryandil (turning Americans into felons, one obnoxious drunk at a time (Zero Tolerance!!!))
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To: kiryandil
I could care less about your opinion of Denninger.

Hmm, you're quite a jerk and a wanna be Internet bully.

Here's a tip for ya. If you don't want to hear people's opinions, then don't post articles on public forums that are designed for discussion and commentary. Got it sport?

You are free to post articles from a loon, and members are free to point out your article source is a rabid Occupy Wall Street supporter. See how that works? It's not difficult.

59 posted on 10/21/2013 7:57:02 PM PDT by Longbow1969
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To: Longbow1969

Panties bunching up on ya, n00b?


60 posted on 10/21/2013 9:42:00 PM PDT by kiryandil (turning Americans into felons, one obnoxious drunk at a time (Zero Tolerance!!!))
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