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150 Economists Sign Letter Against Increase Of US Debt; Spoiler Alert - Paul Krugman Is Not Among Them

Tyler Durden's picture


Following last night's largely irrelevant and extremely theatrical vote for a clean debt ceiling hike, this morning 150 economists (of which those belonging to Ivy League institutions can be counted on one finger... the middle one) have signed a letter warning that "a debt limit increase without spending cuts and budget reform will destroy American jobs." Luckily, since a clean debt ceiling hike will have no impact on the BLS birth/death model, there is no reason to bother Paul Krugman with the fact that ever more of his peers think that those calling for endless fiscal largesse are now a part of the problem, and not the solution. From the letter: "An increase in the national debt limit that is not accompanied by significant spending cuts and budget reforms to address our government’s spending addiction will harm private- sector job creation in America. It is critical that any debt limit legislation enacted by Congress include spending cuts and reforms that are greater than the accompanying increase in debt authority being granted to the president. We will not succeed in balancing the federal budget and overcoming the challenges of our debt until we succeed in committing ourselves to government policies that allow our economy to grow. An increase in the national debt limit that is not accompanied by significant spending cuts and budget reforms would harm private-sector job growth and represent a tremendous setback in the effort to deal with our national debt." The full list of signatories is below. Among them are Nobel prize winner and Euro scourge Robert Mundell, John Taylor, Alan Meltzer, Douglas Holtz-Eakin, as well as former U.S. Secretary of State George P. Shultz, and many more. Suddenly the idea of buying US CDS does not seem so outlandish.

150 Economists


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Wed, 06/01/2011 - 09:27 | 1328172 Josh Randall
Josh Randall's picture

These people are obviously paid shills for the "little people" whom do not want austerity

Wed, 06/01/2011 - 09:42 | 1328223 Clueless Economist
Clueless Economist's picture

I did not sign the letter, but rather I advise that we increase the debt by $5 Trillion in order to create or save 5 Million shovel-ready jobs.

Wed, 06/01/2011 - 09:47 | 1328265 Mr. Poon
Mr. Poon's picture

You're losing your touch.  The amount the government should spend should be "Whatever number I am thinking--only bigger!"

Wed, 06/01/2011 - 09:52 | 1328277 Fish Gone Bad
Fish Gone Bad's picture

Krugman is an interesting conundrum.  He is 50% proud of himself, 20% clueless, 20% genius, 9% pure fucking evil, and 1% sycophant.

Wed, 06/01/2011 - 11:34 | 1328867 JW n FL
JW n FL's picture

all of you idiots above me are fucking Moe-Rons!


1. $18 Trillion Dollars in 3 years printed out of thin air.. ALL went to Bankers / AAA Rated Corps! NOT to the Poor.

2. You ALL are fucking idiots!

Top U.S. Lobbying Banks Got Biggest Bailouts  Treasury Direct $14 Trillion Debt   $15 Trillion in Loans  / ='s $29T 3 Years 300% More Dollars Printed Out of Thin Air!


Corporations Own the Lobby!


The Lobby Owns the Government!


Law Enforcement works for the Duly Elected Lobby Whores!


“We the People” are Screwed!


Wed, 06/01/2011 - 11:46 | 1328955 Swurveman
Swurveman's picture

I didn't see anything in the letter about raising revenues.

The translation of this letter is: "fuck the poor and the elderly".

Wed, 06/01/2011 - 12:28 | 1329190 taint
taint's picture

Nah, it says, fuck the nonsavers and the savers and productive are fucked out. 

Wed, 06/01/2011 - 13:35 | 1329493 SRV - ES339
SRV - ES339's picture

Absolutely... I'm sure they're all supported by the Chamber of Commerce and believe lower taxes for entrepreneurs (rich), gutting regulation (it worked so well last time), and ending all those pesky, expensive and unnecessary support programs for the poor and elderly is the only way to prosparity (patriots all).

Wed, 06/01/2011 - 15:44 | 1329930 maximin thrax
maximin thrax's picture

That's because increased taxes only change who will spend the money into the economy. The game now afoot is to maintain GDP at above-depression levels (who wants to be known as the prez during the second great depression?). That requires net credit expansion, which only the federal government is capable of providing.

Borrowing leads to a net increase in spending (until you have to pay it back). When government lets you hold onto your dollar (tax cut) and borrows that dollar instead, two bucks get spent into the economy. Of course, eventually, you do start paying back the debt with interest (instead of endless rollovers). So instead of supplementing a dollar of tax revenue with a dollar of debt, the federal government will have to take that dollar, and another in interest, out of future spending on programs for the poor and elderly to pay back the dollar borrowed today.

Regardless of who has a problem with it, this government is going to continue to borrow money to spend as long as GDP would plunge to depression levels without its deficit spending. First it was TARP, then a big economic stimulus bill, now 99 weeks of unemployment. Anything that sounds good and generous that accomplishes the required trillions credit expansion will be sold to the public, who out of self interest can't say no to the freebies. Through constant rolling-over of debt and interest rate suppression by the Fed, Americans (until the current bout with inflation) really haven't felt the pain of all that borrowing, so they can't comprehend the cost.

And to accommodate that borrowing the Fed will maintain low interest rates with a glut of money. This nation cannot service her debt, let alone add to it, without artificially low interest rates. Deflationists don't believe one can experience inflation without rising wages, but clearly the mechanism for government's infusion of money into people's hands through safety nets and bail-outs is in place. The question is how far will government go. The answer is until it breaks.

Wed, 06/01/2011 - 19:08 | 1330667 cranky-old-geezer
cranky-old-geezer's picture

There simply isn't enoung money to support casino-gambling bankers, crony corporations, and poor / elderly too. 

Casino-gambling bankers and crony corporations create jobs, poor / elderly don't. 

Get your prorities right. 

Casino-gambling bankers and crony corporations will eventually need 50 - 75 trillion to create jobs, so raise the debt ceiling to 100 trillion for pete's sake. 

We gotta have those jobs.  No amount of money printing is too much to create those jobs.


Wed, 06/01/2011 - 09:37 | 1328182 TruthInSunshine
TruthInSunshine's picture

Paul Krugman's anxiously awaited, Nobel Laureate worthy economic treatise is about to be released.

It's titled:

'How the U.S. Government Can Have Bernanke Print The Number of Dollars Equal to Our Current National Debt In Order To Pay Off Existing Creditors, Thus Wiping Said Debt Out, And Also Send Every American A Gift Card in The Form of Pre-Paid Visa With a Balance of $100,000 BernankBux.'


In his great and bold proposal, Krugman argues forcefully that this plan would strengthen the USD, which is a core goal of Bernanke & Geithner (and NerObama), and how it this would also help achieve the new full employment rate incorporating a 30% UE figure, while helping to stabilize prices of all goods and services (especially food and energy).

Wed, 06/01/2011 - 09:34 | 1328191 LRC Fan
LRC Fan's picture

Cue Clueless Economist with his analysis and prediction...

Wed, 06/01/2011 - 09:52 | 1328278 Mr. Poon
Mr. Poon's picture

It should be noted that Krugman has shown little to no concern over the strength of the dollar.

But beyond that, yes, his implied plan is more or less to print enough money to meet all the government's obligations as well as provide full employment for every person in the U.S.  He doesn't put it in those stark terms because he knows fully well he would (rightly) be ridiculed for it, so he just hints and suggests and insinuates and implies.

And again, he has no interest in what impact those policies would have on the USD; and to the related concern, that massive expansion would push interest rates up, his defense has basically been "it hasn't happened yet so there's nothing to worry about".  The old "I'm not dead yet so I must be immortal" argument, only in economic terms.

Wed, 06/01/2011 - 11:01 | 1328641 Libertarian777
Libertarian777's picture

Krugman's follow up book will be:

"War on Iran. How a 30 year protracted military engagement will solve unemployment, construction, healthcare and boost GDP"

In his Pulitzer prize willing sequel, Krugman proves unequivocally that a conventional war with Iran would be a boost for the defense industry. The full 'free market' privatisation of the military (which produces some of the highest paying contracting jobs, such as $250,000 truck driver salaries), will attract large swathes of the 8.9% unemployed, and those on food stamps to join Xe.

The tens of thousands that are maimed and injured in the ensuing war will ensure a robust growth industry in the healthcare sector.

And the amount of tomahawks and bombs that will be used will significantly increase the demand for US steel and US chemicals (but not silver or gold of course...those remain barbarous relics), which will be a boon to those industries.

Wed, 06/01/2011 - 09:34 | 1328183 White.Star.Line
White.Star.Line's picture

I for one want austerity - for the banksters.

Also, severe poverty and starvation. (Give em a taste of their own medicine)

Wed, 06/01/2011 - 09:36 | 1328187 Henry Chinaski
Henry Chinaski's picture

People are waking up.  Now economists are waking up too.

Wed, 06/01/2011 - 09:52 | 1328281 Dr. Richard Head
Dr. Richard Head's picture

200 economists spoke out against the bailouts -

That didn't seem to put a dent in the fascism mobile though.

Wed, 06/01/2011 - 09:34 | 1328192 SilverDosed
SilverDosed's picture

Seeing as how the Univ of Texas bought a Billion in gold (wonder who first pitched that idea) I'd have to say....

silver bitchez

Wed, 06/01/2011 - 09:35 | 1328199 AssFire
AssFire's picture

I've said it before and I'll say it again, We are now two separate nations:

One that works (in the private sector) and pays taxes vs those that live off the stolen wealth of the taxpayer. <We are the new slaves>

We prefer to be our own nation. In Texas we reject the welfare state and hope we can finally shed the nation that forced it's citizens at gunpoint to enslave us.

Now send us our gold and leave us the fuck alone.

Wed, 06/01/2011 - 09:55 | 1328295 Dr. Richard Head
Dr. Richard Head's picture

Hard to reject the Federales when they threaten "no-fly" zones because of a proposed TSA molestation bill -

The UN will suddenly find nuclear bombs being made by the Texas state legislature if the bread is cut out.

Wed, 06/01/2011 - 10:42 | 1328526 Pegasus Muse
Pegasus Muse's picture

In Texas we reject the welfare state and hope we can finally shed the nation that forced it's citizens at gunpoint to enslave us.

This from a citizen of the state that produced LBJ, creator of the Great Society and Commander in Chief who directed a huge military expansion in Viet Nam War.  lol

Wed, 06/01/2011 - 11:41 | 1328915 JW n FL
JW n FL's picture

Bush! no oil in texas to be found!

Wed, 06/01/2011 - 11:47 | 1328969 downwiththebanks
downwiththebanks's picture

No military contractors in Texas sucking at the teat of the Military Industrial Complex, either.

Nope - nothing but self-sufficiency and rugged individualism (except when the 'country' was founded using Uncle Sam's weapons and strong-arming).

Wed, 06/01/2011 - 11:32 | 1328859 downwiththebanks
downwiththebanks's picture

The 'private sector' RELIES UPON 2 things, fundamentally:  looting from the public and assistance from government, which they own, in doing so.

You may not have noticed, but that has been true for about the last 5 centuries. 

Wed, 06/01/2011 - 09:41 | 1328216 ATM
ATM's picture

Kyle Bass....

Wed, 06/01/2011 - 11:40 | 1328936 JW n FL
JW n FL's picture

he spends all his time in st barts!

Wed, 06/01/2011 - 09:37 | 1328193 Jayda1850
Jayda1850's picture

but with all the damage done by the tornadoes, that should be worth atleast 1% GDP growth. Just think of all the demand that is created.




Wed, 06/01/2011 - 10:11 | 1328354 Thisson
Thisson's picture

I was speaking with a financial advisor from Morgan Stanley the other day who told me that the tornadoes are good for the economy.

I tried telling him about Bastiat's fallacy, but it was pointless.

The point is that people actually believe the Keynesian claptrap that prosperity comes from endlessly expanding credit and printing money.

Wed, 06/01/2011 - 10:34 | 1328489 TruthInSunshine
TruthInSunshine's picture

If tornadoes are good, tsunamis and earthquakes (wiping out nuclear power plants and breaching their containment structures) are better, and atomic warfare is the best stimulus of all.

Wed, 06/01/2011 - 19:12 | 1330717 cranky-old-geezer
cranky-old-geezer's picture

And Fukushima should be good for ...gosh ...5% GDP growth minimum.

Wed, 06/01/2011 - 09:35 | 1328197 Cognitive Dissonance
Cognitive Dissonance's picture

Clearly 150 economists don't equal one Paul Krugman because only Paul Krugman is the official keeper of the public (financial) myth and thus a MSM darling.

Wed, 06/01/2011 - 10:46 | 1328531 TruthInSunshine
TruthInSunshine's picture

Chuck Norris refuses to debate Paul Krugman.

Wed, 06/01/2011 - 09:35 | 1328200 Cleanclog
Cleanclog's picture

Watch Inside Job for more on the paid for shills, expert witnesses, and absurb "think tanks".

Wed, 06/01/2011 - 09:36 | 1328205 lizzy36
lizzy36's picture

150 economists all looking for a paid gig on fox news.

Color me shocked.

Wed, 06/01/2011 - 10:47 | 1328566 tarsubil
tarsubil's picture

You mean Faux News? Der-di-der-di-der!

Wed, 06/01/2011 - 09:36 | 1328208 willien1derland
willien1derland's picture

Where the HELL were all these economists when 'No-Doc' & 'Pick-A-Pay' mortgages skewed the housing markets....Again, WHERE the hell are all these economists regarding the impact of derivative exposure??? 


Ohhh sorry THAT'S right...they all received record bonuses due to the decision to socialize all Wall Street & Banksters losses...Paaathetic! 

Wed, 06/01/2011 - 09:37 | 1328211 wisefool
wisefool's picture

<sarc> Why is Krugman not on there? Was the document format incompatible with his I-Pad</sarc>

Wed, 06/01/2011 - 09:40 | 1328212 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

Its frightening how much less I'd know about economics had I studied economics in university

Wed, 06/01/2011 - 10:13 | 1328374 Thisson
Thisson's picture

Don't succumb to that.  I studied economics and it's helped me to understand why the shit most economists say is wrong: because economics makes a lot of assumptions that are not valid in the real world (e.g. perfect information, manipulation-free markets, etc.).

Wed, 06/01/2011 - 10:43 | 1328514 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

was it really worth spending 3-4 years just to learn that??

why not just read the right books instead of being forced to read all the wrong ones?

Wed, 06/01/2011 - 11:25 | 1328816 skipjack
skipjack's picture

...because some non-Ivy college econ departments actually teach Austrian economics...

Wed, 06/01/2011 - 11:30 | 1328869 downwiththebanks
downwiththebanks's picture


Up with deflation and genocide!

Wed, 06/01/2011 - 13:31 | 1329478 Urban Redneck
Urban Redneck's picture

because economics makes a lot of assumptions that are not valid in the real world

It starts on the very first day, even before university level economics - ceteris paribus - everything else is never equal in the real world.

Wed, 06/01/2011 - 09:38 | 1328221 digalert
digalert's picture

Can't believe you mention Krugman...he's a Nobel Laureate. Barama's got one of them Nobel doohickeys too.

Wed, 06/01/2011 - 10:18 | 1328376 NidStyles
NidStyles's picture

That beg's the question, does a Nobel Prize measure the quality of the recipient, or the quality of the Isntitution that award's it. Note the lack of the question mark.



Wed, 06/01/2011 - 09:43 | 1328228 BlackholeDivestment
BlackholeDivestment's picture economist named ''Booth'' at ''Chapman'' University!!!

I'm gonna take a ''shot in the dark'' on this one, bet he's one of those ''economist hitmen''. Paging Mr. Black

Wed, 06/01/2011 - 09:42 | 1328229 Caviar Emptor
Caviar Emptor's picture

But again....we know what they're against....but what are they For?

It's easier to criticize than to perform. And we got plenty of critics on both sides. I'm the first to say we should not have the debt that we do (but to me the mistakes were made 30-40 years ago).

But there isn't a single one of these Nobel Laureate crowned heads, not a single economics genius nor a single political "leader" who has a proposal on how to re-structure and re-tool for the future given the new realities. 

Why? Because most don't even  believe we should change anything. Most are defending an economic or political construct that they themselves endorsed and supported. They bet the farm on it. Others simply can't possibly not be backing the status quo. ANY status quo. If they were living in fascist Germany they would back it. But for the most part, the main reason we;re in a slump is because there's a slump in ideas, creativity and leadership. 

Wed, 06/01/2011 - 09:57 | 1328284 I am a Man I am...
I am a Man I am Forty's picture

nonsense, cut spending, it's not complicated, you don't need ideas or creativity, it's quit fucking spending, it's not rocket science, all these people that are living off of everyone else are going to have to live less off everyone else


Wed, 06/01/2011 - 10:18 | 1328388 Thisson
Thisson's picture

There are too many recipients receiving government spending - it's the "tyranny of the majority" problem.  The Grasshoppers outnumber the Ants in the voting booths.

Wed, 06/01/2011 - 11:07 | 1328683 Libertarian777
Libertarian777's picture

soon there will be no ants...they will be driven underground or scapegoated as 'rich uncaring callous free-marketeers'. The state will enact a raid of their savings, outlawing PM, and all retirement accounts being required to invest in only the 'safest' US treasuries.

You're 100% correct, people always say "democracy" without realising wtf that means. Democracy in its purest form isn't much different from socialism. If 51% can mandate what the other 49% has to do, that's socialism.

The US is a REPUBLIC. The Feds were always suppose to be serving the states, not the states serving the Feds.

Sovereignty begins with the individual.

Wed, 06/01/2011 - 11:36 | 1328875 downwiththebanks
downwiththebanks's picture

You hear that, Banker-Gangsters:  no more of Uncle Sam's welfare for YOUR trips to the casino and the pusherman.

Bunch of fuckin' freeloaders, you Banker-Gangsters.

How about you do some REAL WORK for a change?

Wed, 06/01/2011 - 19:45 | 1330823 cranky-old-geezer
cranky-old-geezer's picture

Wtf are you Talking about?  Debt ceiling restricts fed govt spending not Bernokio.  He can spend as much as he wants.

Wed, 06/01/2011 - 10:14 | 1328356 Life of Illusion
Life of Illusion's picture


Capitalists, they want cheap labor, devalued dollar, deregulation and asset price devaluation. Eventually we get deflation but not until the former 3 are accomplished. The question is will it take 5-10 years as reserve currency fades, or 2-3 years with very high inflation ending with a deflationary crash?

Eventually get there and capitalist restructure.

Wed, 06/01/2011 - 10:16 | 1328397 Thisson
Thisson's picture

Inflation and deflation are different paths to the same destination.  Real assets (gold, etc.) seem to be the only escape route.

Wed, 06/01/2011 - 10:54 | 1328482 Bob
Bob's picture

Exactly.  The expert opinions of eCONomists suddenly become relevant with this?  We know what the basic argument is: More money put under the direct control of  "job producers" creates "more jobs."  Trust us. We've even got the CEO of GE to explain it. 

It's really simple.  Hell, that federal spending must be what got us where we are to begin with.  Right?

I wonder how many of these twits are not supporters of the Fed.

Wed, 06/01/2011 - 09:44 | 1328235 Djirk
Djirk's picture

of which those belonging to Ivy League institutions can be counted on one finger... the middle one

Nice, I am going to steal...err umm... sample that line

Wed, 06/01/2011 - 09:45 | 1328240 pat53
pat53's picture

Anyone who thinks the debt ceiling won't be raised is dreaming. That would end the party on Wall Street, so it ain't gonna happen. The GOP will cave, like they always do, and the Dow will be on its way to 14K by years end. Why do you think the market has completely ignored all the threats from Republicans about cutting spending, etc.. The market knows they'll cave in and agree to raise the debt ceiling after gettting a few "token" spending cuts from the Dems.


The Republicans talk tough, but when it comes to action, they cave every time, this one will be no different.


BTW, the SPX is down a measely 3 points after todays dismal news. Another green close for sure, sorry bears, another day of losses coming up ... LOL

Wed, 06/01/2011 - 10:18 | 1328408 Thisson
Thisson's picture

You are right, but this is a ratchet process where the cycle tightens each time we hit the new (higher) debt ceiling.  Eventually the real reforms will have to come - whether by concession or by the imposition of market discipline.

Wed, 06/01/2011 - 12:15 | 1328993 Libertarian777
Libertarian777's picture

TW, the SPX is down a measely 3 points after todays dismal news. Another green close for sure, sorry bears, another day of losses coming up ... LOL

oops, I think you mean 19 points.


But what's 16 points between friends?


Wed, 06/01/2011 - 09:48 | 1328252 alien-IQ
alien-IQ's picture

George Shultz...ah yes...that great humanitarian that so cleverly managed to turn the rain in Bolivia into the private property of Bechtel.

I'm pretty sure he was the model for all the future Dick Cheney's of the world.

Wed, 06/01/2011 - 09:46 | 1328260 Caviar Emptor
Caviar Emptor's picture

Without re-structuring, austerity will simply force further offshoring of productive industries, jobs of course and also provoke further capital flight to the developing world. It will stoke biflation: the lethal cocktail of deflating income and assets combined with rising cost structures. Nice 

Wed, 06/01/2011 - 11:38 | 1328897 downwiththebanks
downwiththebanks's picture

This is the Banker-Gangsters' wet dream.  More money for them as the working people of the world are driven further and further down to the sweatshop bottom.

Wed, 06/01/2011 - 09:54 | 1328285 buzzsaw99
buzzsaw99's picture

From the "No Shit Sherlock" files:


Investors should prepare themselves for a third round of quantitative easing, Simon Maughn, co-head of European equities at MF Global, told CNBC Wednesday...

Wed, 06/01/2011 - 09:55 | 1328296 luciusfargo
luciusfargo's picture

Joseph 'whatsanothertrillion?' Stiglitz was unavailable for comment.

Wed, 06/01/2011 - 10:17 | 1328380 uniman
uniman's picture

Hey Folks,

I got a letter from a friend who's way "underground." Thought I'd pass it one for your perusal:

Greetings from Crystal Peak
Hello my fellow Americans.
Over the last several decades we have been fighting and loosing a war that most people did not even know existed.  That is the war against the omnipotent state.  Today we stand at the precipice of total defeat.  We have no choice but to make our stand now or to forever relinquish our status as freemen.

As many of you have noticed, this country, and the entire world, is descending into systemic collapse.  Economy and ecology are failing.  For those of you still lucid, you have also noticed that every contemplated action of mitigation on your individual initiative is thwarted.  Apparently, your only choice is to remain calm and obedient as the oxygen masks deploy on the Hindenburg of State.

I for one find this choice to be unacceptable.  If my destiny is to face my own demise then I insist that my demise come on my terms not the Enemy’s.  Today I ask that you join me in my quest for liberation.  The Enemy is powerful almost beyond imagination.  There is almost nothing that we can write, say, think, or do, that it cannot spy upon and thwart.  However, the Enemy has an intricate pattern of weaknesses that we shall exploit.  I know some of them, and you all know others.  Together we shall put the beast back in its cage.

Over two centuries ago a band of terrorists in North America engaged in armed insurrection in order to destroy the lawful government of its time.  History belonging to the victors, the triumphant terrorists crowned themselves heroes.

I use the term “terrorist” because that’s what these men would be called in today’s world.  In addition to their guns they had an even more powerful weapon.  They had an idea!  It was the idea of liberty and empowerment for ordinary people.

It is no accident that the State has long since swallowed “education” vomiting a race of emasculated humanoids who think that because they have a choice to itemize or not on their tax forms or that they have a choice to “vote” for Demoncrats or Republicans, then they must therefore be free.

It is no accident that all sources of power other than the State has been systematically smothered and extinguished.  The family is destroyed because the State is a better provider.  Your small businesses are smothered by rules and taxes.  Education is merely indoctrination.  Your money steadily is either overtly confiscated or inflated away.  Your ability to travel is becoming ever more burdensome and restricted.  Your ability to engage in private communication is almost gone.  Coming soon: Your very ability to grow your own food may be lost.  In today’s world, “empowerment” means somebody helps you fill out a government form so you can get more freebies with even less work.

Most people would be shocked to imagine a world where individuals had any real power.  Power in the hands of individuals can only be corrupted into criminal practice, so they think.  And yet the power of hundreds of millions of people when concentrated in the hands of the State somehow becomes pure and benevolent?  The power to see that as bullshit is another one of the powers long lost.

We hold these truths to be self-evident
In order to start the process of liberation we must first contemplate the secret weapon of the intellect that these terrorists left behind.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. - American Declaration of Independence.


The coded instructions for liberation are buried within.  Please allow me to dissect this:

  1. We hold these truths to be self-evident.  As I will discuss at great length eventually, one of our first orders of business will be to define in greater detail what it is that we want.  When that time comes we will stand upon our two feet and issue our demands for our freedom and empowerment.  We will not have to search for specific grants of power, loopholes, or exemptions in the Enemy’s Law.  The things we want are axiomatic and not derived (or thwarted) via legal trickery.
  2. Unalienable rights.  Tipping my hand a bit, we will demand (and take back) our freedom and our power.  These rights are “unalienable.”  Who says?  It’s axiomatic and we do not need to “prove” it.  Unalienable means that it cannot be gotten rid of.  You cannot sell it or give it away.  It cannot be seized by court and sold for back taxes.  Machinations of law that purport to remove our power or freedom are as absurd as perpetual motion machines.
  3. Consent of the governed.  I do not consent to be governed by the Enemy.  I never delegated any power to it.  My accident of having been born into this system does not alienate my freedom or power.
  4. It is the Right of the people to alter or to abolish it This is an interesting piece of the puzzle.  I’ll accept this right as axiomatic but I reserve the right to negotiate a peace treaty with the Enemy instead.  If the Enemy will simply leave us alone, we should be content to separate from it.  It not being necessary to alter or destroy it.  In fact, if I posit a right to “alter or abolish” I think I’m also conceding it’s right to govern me.

A New Tribe
That said, the beginning outline for liberation is to create a new tribe.  I propose the following rough principals for use in this endeavor:

  1. We shall remove ourselves from the governing system of the Enemy.  We will renounce any allegiance to it as well as any expectation that it will provide any “goods or services” to us.  We will not “vote” or participate in its political system.
  2. We will form a new society that works according to our principals of maximum individual freedom, power, and responsibility.
  3. People are free to join or leave the new Tribe.
  4. The new Tribe will take and hold land and resources required for our survival.  It will not otherwise have any defined “borders.”  These resources will necessarily be inside areas claimed by the Enemy.  Granted, this will be easier said than done, but it is a necessity.

Civil Disobedience
We will take what we want via a campaign of civil disobedience.  Violent insurrection pits our weakness against the Enemy’s great strength in so many ways.  Bad idea.  One of the critical weaknesses of the Enemy is that it does not have the heart to simply terminate we-the-people en masse.  This will possibly change soon, so we must not waste time fretting about this.  But unless they’re willing to eradicate us, we can become extremely disruptive to say the least.

In Conclusion
The war is not lost.  The Enemy's great weakness is that it is much less stable than it likes to pretend.  There are a myriad of things we can do to apply our strength at the appropriate resonant frequences to wreak major havoc.  But time is not on our side.  Thanks for reading and have a nice day.
John Connor- Crystal Peak

Wed, 06/01/2011 - 12:56 | 1329319 ItsEvolutionBaby
ItsEvolutionBaby's picture

I junked you because you can't spell 'losing'.

Wed, 06/01/2011 - 10:35 | 1328491 Pseudo Anonym
Pseudo Anonym's picture

150 economists (of which those belonging to Ivy League institutions can be counted on one finger... the middle one)

who is coming up with these lines?  That's funnier than any comedy show I now.

Wed, 06/01/2011 - 11:02 | 1328643 Zero Debt
Zero Debt's picture

Where were all these economists during the boom years? Flipping houses?

Are they trying to quell their sense of guilt for not speaking out of the massive unsustainable imbalances during the boom years....coming now in 2011, hello...the balanced budget train sort of left the station 20 years ago plus.

"I did what I could, I signed a petition".....totally useless and dishonest.

Wed, 06/01/2011 - 11:05 | 1328670 Peter K
Peter K's picture

I don't think any rational person would call Krugman an economist.

Wed, 06/01/2011 - 11:51 | 1328996 Libertarian777
Libertarian777's picture


Wed, 06/01/2011 - 11:05 | 1328671 Peter K
Peter K's picture

I don't think any rational person would call Krugman an economist.

Wed, 06/01/2011 - 11:14 | 1328758 curbyourrisk
curbyourrisk's picture

According to this administration, isn't Krugman's name the only one that matters?

Wed, 06/01/2011 - 11:26 | 1328833 downwiththebanks
downwiththebanks's picture

Here's an idea:  recommend to these corporate shills that the first things cut will be Economics Departments and Business Schools rather than VA hospitals and public libraries.

See that number go down to ZERO.

Wed, 06/01/2011 - 11:41 | 1328905 VyseLegendaire
VyseLegendaire's picture

You gotta love the hubris of PhDs and other government sycophants.  

They might as well sign a letter saying 'please dismantle the government.  If you spend more, we will lose more money and so please free up our wealth for the productive people, thank you.'

The reality is that the government is never going to cut spending by more than it borrows! The government does not create wealth! It steals and destroys it! Thats the whole point! 

These fools are nothing but right hand men to the Norman Bates of America. 

Wed, 06/01/2011 - 11:59 | 1329020 I am Jobe
Wed, 06/01/2011 - 12:09 | 1329085 jomama
jomama's picture

to be fair, Krugman isn't really an economist.  

Hell, his Nobel was purely political, being right after the crash of 08', and for someone else's thesis, anyway.

Wed, 06/01/2011 - 12:47 | 1329255 jaffi
jaffi's picture

Hey, Yuri Maltsev is on the list.  I love that guy, his jokes about living in Russia are hilarious, but unfortunately true.  It is always fun to hear how F'ed up socialism is from somebody who lived through it.  

Wed, 06/01/2011 - 22:19 | 1331227 Chuck Walla
Chuck Walla's picture

government’s spending addiction will harm private- sector job creation in America.


But that's the whole idea!  Don't they get that? You cannot have a revolution without a revolutionary situation.  Up you Wieners!  There's real power in the balance!


 A revolution is impossible without a revolutionary situation; furthermore, not every revolutionary situation leads to revolution. 

~V. Lenin



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