For those of you who do not follow The Market Ticker (who should have it in their daily reading), Karl Denninger is a witty down to earth brainiac that gives wonderfully truthful and intelligent easy to read analysis on a variety if issues effecting the market and your investments.
Denninger got involved with the whole moronic Dennis Keale v. bloggers discussion via a challenge he laid out to Dennis in Kneale: You Asked For It..... In this must read post for all P3 believers Karl discusses why the credit bubble has not popped and why the current recession is not over and will linger for a while. "Well Dennis, I don't think I should have to recite the last two+ years of numbers, nor the litany of new Fed Credit programs, nor the consumer credit numbers which were released today and which your network reported this afternoon, when you're the one claiming that "the recession is over" and argue against the credit recession position I put forward. But since you didn't bother with these nasty things called "facts", I'll do it for you."
Karl got invited to be on CNBS and discuss blogger identity issues. WTF? This worthless interview is really not worth the discussion or posting. However in Denninger's post Follow-Up To Dennis Kneale And CNBC, he offers a nice rebuttal that is really worth viewing (especially for the CNBS haters).
So, the questions continue from the blogosphere on CNBS's possible involvement in manipulating the market. Denninger lays out a wonderful refreshingly new argument that TD at ZeroHedge should dig a little deeper into (if Karl is not going to do so himself and ZH can get off of its GS tangent for a few posts). Front running I believe it is called. This is a new an different angle that if proven could wind up being as large as GS's "market manipulation" program issue (not in total volume, but in cheating via front running).
IMO everyone has to visit the john to puke after watching CNBS spew green shoot bullshit after an hour of so. I'm no genius, but I have enough common sense to know what is real and what is not. I personally have quit watching and now listen to a variety of things with Bloomberg Radio at the top of the list. What I want to ask is, what is Kneale's real purpose behind his attack of the blogs?
I called him a weasel for a good reason earlier. This BS attack blogger anonymity is a front for something IMO. Dennis may be a total idiot (as Karl calls him) when it comes to any sort of knowledge of the markets ("what is the VIX?), but he may be some sort of master at manipulating opinions or herding the sheeple in a specific direction. Look at who he works for.
It is a widely known fact that the blogs are destroying the major media, especially the print group. Attacks against blogs are becoming more prevalent for various reasons from content hijacking via linking to articles to bloggers being "non professionals" blogging on stuff they have no place writing about.
So just what is DK up to here? Is it simply name recognition or to increase viewership to his lame show or is their something more to this? Just what is this weasel up to? I do not trust him or his network and would not be posting on this issue if I did not have the opinion that the front man for GE is on a mission assigned by his taskmasters to do something to discredit the blogosphere.
The list is long of blogs that consistently challenge and disprove the bullshit that CNBS spews (well, the 60% IMO that is not truth). I would not be surprised to find that the blogosphere's attacks of CNBS have cost them viewership and shifted viewers to other sources (well, the content has something to do with the shifting of viewers as well I'm sure). Is CNBS using DK in some sort of offensive in a larger plan to weaken the web and its freedoms to further attack our Constitutional right to free speach so they can further dominate and protect their turf?
A note to Karl and the other bloggers that may get sucked into these worthless discussions - Watch out for the Weasel.