Posted by
Derrick Michael Reid on Monday, March 23, 2009 3:35:06 PM
A Socialistic Pig Calling Out the Socialistic Point Man, the pot calling the kettle black, a lesson in socialism.
Krugman is all hot. That commie pinko cant get enough socialism, to jam down the throats of the minons, and ensalve all under our totalitarian democracy, the DC's elitist game, and that includes the irony tower socialists, including think tankers and professors, in the tank for more gov control, our collective ruination, and the loss of our free markets and self reliant heritage.
As Geitner spend trillions and trillion upon bankster bailouts, Krugman goes off, if you can believe this, THAT AINT ENOUGH!!!
Here is the quote from Karl Marx Krugman: While the real economy is being hurt by the meltdown of the financial system itself, Krugman says this is not the first or the last time this has happened. And there are lots of roadmaps to get us out. "It goes like this: the government secures confidence in the system by guaranteeing many (though not necessarily all) bank debts. At the same time, it takes temporary control of truly insolvent banks, in order to clean up their books," Krugman said."
First, Krugman does not like the buisness cycle, where ups and downs, cull the inefficient from the economy. (he want all held on government life support, dependent on government directives, as only government knows best, like he wants all american dependent on gov care, and under the thumb of the DC elitists).
Second, Krugman is showing his lenniist Marxist mantra, his true colors, saying GEITHNER has not done enough, the US should nationalize the banks. Geithner to date has done about 3T$ to much. Get a grip people. Just think about that, the US government is participating in BUY UP TOXIC ASSETS, (aka 1000T$ derivative blowing up). Does not that just make you want to break out ole glory? Our government is activity buying toxic assets, upon which, the banksters made billions, and yet now, not only do they get to keep the profits made on the sale, but now, WE ALL get to participate in feeding the banksters, rather than have them be responsible. How messed up is that? UNFREAKING BELIEVABLE!!!!! Banana republic aint the correct term for it. IT IS ALL OBSCENE, and contrary to our heritage and freedom and responsibilities. It is counter-productive, as the crooks are rewarded for spewing the green-gobs from hell, their tricky dicky derivatives, thinking through them, there would be no banking risks. Well they got caught with their computer models and deriatives, pocketing billions while destroying markets. And what is the totalitarian response. Poor things, here are some bail outs on the people backs, but dont worry, we will sale it too the people as the only option, and they will buy it, because we already have the folks locked into social-security, medicare, unemployment comp, food-stamps, and a whole complex of dependency generating conditioning of the folks. Geithner and Obama know that the weak minded folks will just play along, as they drop more feed in a trail to our collective enslavement to the all powerful, all-thinking, all enslaving, big brother nanny state.
Well, I guess, even commies have a spat from time to time, on how best to control the world, our lives, our economy, seeking to wipe our child like butts for failure from time to time, and Krugman consternation at the lack of socialistic meddling, is very telling, of the pot calling the kettle black. Both are into their totalitarian controls from DC, and hence, a loss of our freedom for you and I, FROM THEM!! Krugman would rather that the state control everything, and every aspect of our lives, so that they rule the world, and make all of us, equal, contrary to liberty and freedom, to be ALL or LESS, we can be, to WIN and LOSE, as we choose, as IT IS OUR RIGHT to profit and lose, IT OUR RIGHT to do both, and how dare these elitist try to take our freedom to win and fail from us? IT's CALLED FREEDOM, to be free to act, and free to bare the consequences, good and bad. We need the business cycle, to cull the heard, and these socialists, in their apparent evil pity, denies us our freedom to win and lose as we choose.
Both have it wrong, dead wrong. While regulating markets for abuses (up tic rule, short sale fraud, and banking/investment separation to curb abuses), is one thing, regulating (THAT IS REALLY OPERATING) business because only gov knows best, is another instance, where the government knows better, than all of us, is all wrong, inefficient, and ALWAYS is proven to be counter-productive, over the long run. Krugman justs like being more controlling and hence, more counter-productive than most, while the sheeple not knowing any better, and the duplicitous CON artists at CNBC, collectively cheer it on, thinking we are finally saved from recession cycles, with our freedom and its responsibiliby and accountability abandoned.
Derrick Michael Reid
Laguna Beach CA
WASHINGTON (Reuters) - Nobel-prize winning economist Paul Krugman said in remarks published on Monday that the latest U.S. Treasury bailout program is nearly certain to fail, triggering a sense of personal despair.
U.S. Treasury Secretary Timothy Geithner on Monday unveiled a plan aimed at persuading private investors to help rid banks up to $1 trillion in toxic assets that that are seen as a roadblock to economic recovery.
"This is more than disappointing," Krugman wrote in The New York Times. ""In fact it fills me with a sense of despair."
"The Geithner scheme would offer a one-way bet: if asset values go up, the investors profit, but if they go down, the investors can walk away from their debt," the Princeton University economist said, citing weekend reports outlining the plan.
"This isn't really about letting markets work. It's just an indirect, disguised way to subsidize purchases of bad assets," he added.
Krugman called it a recycled idea of former Treasury Secretary Henry Paulson, who later abandoned the "cash for trash" proposal.
"But the real problem with this plan is that it won't work," he says, adding that bad loans may be undervalued because there is too much fear in the current climate.
"But the fact is that financial executives literally bet their banks on the belief that there was no housing bubble, and the related belief that unprecedented levels of household debt were no problem. They lost that bet. And no amount of financial hocus-pocus -- for that is what the Geithner plan amounts to -- will change that fact," Krugman wrote.
While the real economy is being hurt by the meltdown of the financial system itself, Krugman says this is not the first or the last time this has happened. And there are lots of roadmaps to get us out.
"It goes like this: the government secures confidence in the system by guaranteeing many (though not necessarily all) bank debts. At the same time, it takes temporary control of truly insolvent banks, in order to clean up their books," Krugman said.
Time is running out on the Obama administration to take control of the banks - and the crisis.
"If this plan fails - as it almost surely will - it's unlikely that he'll be able to persuade Congress to come up with more funds to do what he should have done in the first place," he wrote.
The White House strongly disagreed with Krugman's assessment, defending the administration plans on the morning talk shows.
"I think Paul's just wrong on this one," Christina Romer, head of the White House Council of Economic Advisers, said on ABC's "Good Morning America" show just ahead of the plan's release.
"This is really tails both the government and the private sector win, heads both the government and the private sector lose. We both are going to have, as the saying goes, skin in the game."
(Reporting by Corbett B. Daly; Editing by Walker Simon)
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Mayday in the United SoDoMeSomeMora Socialistic States of America (SSSA, aka CCCP) is a communistic labor day, where all the good commie pinko buckaroes hug Washington Monuments pretending to be Americans degracing our Americanism of rugged individualism and limited government tradition and history and national birth rights, collectively being flushed down the toilet of social engineering along with an interpreted constitution, a shadow of its former glorious self, mandating limited government and real money, protecting the people from government, that is now plenary in power, and vast in tenical reach to control and enslave each and every one of us, through incentivizing taxes of enslavement and social welfare dependency in indignity. Are there any ture Americans left, who are self reliant, and free from government hand outs? The SSSA gang of four, WW-FDR-LBJ-BHO commie democrats, as supported by the traitorous compansionate republicans, kicking and screaming just a tad, in righteous pretense, playing follow the leader, have over the last 100 years, destroyed what make America unique, prosperous, and powerful, Libertarian Capitalism. Rebellion is the solution, preferably prefected in the polling booths, but any street anachary is always a good sign, with the patrons sipping tea.
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"In the words of the great Austrian Economist, Wilhelm Roepke, advisor to German Economics Minister Ludwig Erhard at the time: "...here is to be found the most convincing case in all history against collectivism and inflationism and for market economy and monetary discipline."
Rather than adopt the free market economic policies that have time and again proven their merit, Mr. Krugman espouses socialistic schemes that have never worked. As Winston Churchill once quipped, "The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of misery."
The essence of our contemporary application of Keynesian economics is best described by analyst Michael Metrosky. "Spend all the money you have. When you run out of money, borrow all you can and spend that too. When nobody will loan you any more money, just print the money and keep spending." It's a fitting epitaph for an economy in the process of being killed by the likes of Mr. Krugman, the New York Times and the Keynesians in Washington who have been in charge over the past five administrations.
James R. Cook
President - INVESTMENT RARITIES
Editor, Silver Newsletter
http://www.gold-eagle.com/editorials_08/cookj050109.html
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Mr. Cook is a stand up real money capitalist. Hear Hear!!
Krugman is a gutter rat, inviting us all in for the equality of scum life.
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by Glen McCoy
We sure did.
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