Krugman’s
talking
asshole
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QE is, and always was, a tawdry way of recapitalising bombed-out banks by the backdoor, while boosting equity markets, so the said banks can try to avoid the painful but necessary step of writing down the losses on their catastrophic investments and the forced restructurings – and even criminal convictions – that could result.
From the article:
Until the zombified mega-banks are put out of their misery, the UK will grow only at an extremely sluggish pace, if at all.
Schiff sure is one gutsy man, the kind of guts that guys who beat up old ladies have. He fails to (1) go after corporations for using loopholes and clever accounting to avoid paying taxes (2) doesn’t mention the Pentagon budget …
Yet when it comes time to talk about spending, he’s eager to go after those damn Social Security payments, payments which (a) come from people paying in and (b) is a program that Greenspan, Reagon, Clinton et al. have mucked up by putting its revenues in the general fund.
Schiff and others like him are why the Krugmans of the world still have credibility. If Schiff would balance out his message, he’d have far more takers. I understand his value. But a lot of people coming out of the left still wouldn’t or don’t.
If you want to know how crazy the CPI & GDP calculations are watch “Fuzzy Numbers”
http://www.youtube.com/watch?v=zPkTItOXuN0
If you own a house, the rent you don’t charge yourself, is added to GDP! WTF!
Max, I love you and would love to share your site more with others but the language really necessary? Does it genuinely help you accentuate your points in such a way that helps the broadest audience hear your message? You speak the truth, but please consider doing it without the foul language.
Beginning of Civil War in Greece?
Gunmen Shoot at Greek Prime Minister’s Office
http://goo.gl/dwoLm
Great vid. Just a coupla things, though: The Fed is neither wrong nor incapable of seeing their ‘errors’. They are fully aware of what they’re doing and of it’s consequences. That’s the plan, Stan!
…. and then a whoreson jackanapes
must take me up for swearing; as if I borrowed mine
oaths of him and might not spend them at my pleasure.
W.S. – Cymbeline
Eric Jaffe,
I was just going to make a comment about how you can always tell when Max posts without looking at his name: the posts are always provocative and funny.
I guess it takes all tastes
re: Peter Schiff video
Even I understood that.
China Shipping for the win.
“When a gentleman is disposed to swear, it is not for
any standers-by to curtail his oaths, ha? ”
-WS again
Jarrolin nailed it. Schiff comes from the same dirty pond as Farage, although I think Schiff is genuinely principled. I just do neither share his principles nor approve them. Inflation is equally real, nevertheless.
The question is: what would Schiff do in Greece?
Answer: AUSTERITY. He’s no different than the banksters. A good analysis doesn’t make a good person.