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Alan Blinder Fires First Shot Across QE3 Bow: Says We Need More Stimulus To Boost Employment

Tyler Durden's picture


A little under a year ago Moody's Mark Zandi and Princeton economist and former Fed vice chairman Alan Blinder penned a paper titled "How we Ended the Great Recession" which did nothing but extoll the virtues of spending trillions in both fiscal and monetary stimuli and preventing U3 from hitting 16% (of course how one proves a counterfactual is irrelevant: just remember - if the Fed disclosed its top secret bailout plans the world would end. Same thing here - accept it - after all the guy is a professor at Princeton). In a nutshell Blinder is nothing but Paul Krugman on steroids: a man who believes that there is nothing worse in this world than establishing fiscal (and monetary) discipline now. Well, in an interview with Tom Keene earlier, Blinder fired the first shot across the QE3 bow, telling his Bloomberg host that the US needs "somewhat more" fiscal stimulus once again in order to boost employment (hold on: didn't we end the Great Recession, and certainly the normal one in the summer of 2009 according to the NBER?). How this would be accomplished in the current climate is not explained. Instead what Blinder says makes one wonder just who is on the tenure committee at Princeton - when asked how we bring the deficit in without austerity, the Princetonian responds: "Unfortunately I think it is very subtle for most political processes especially for the political process in the US. What we should be doing is somewhat more fiscal expansion but at the same time legislating into law fiscal consolidation for the future. Starting 2 years from now, 3 years from now, 18 months from now. But not now." Of course never now: why bite the bullet now when it can be kicked to some other administration in the indefinite future? Especially when tenure money and/or Wall Street bribes are at stake...

Basically, let's just incur as much debt as possible now, and eventually it will get better. And this is happening now almost 2 years after the recession supposedly ended. Naturally, there will be no fiscal expansion: not with the current political set up. Which leaves just one option - monetary stimulus. And since Blinder is very close to the Fed, we are confident that the two-way dialog between academia and Federal Reserve is already under way, making it clear that if no fiscal stimulus will be forthcoming, then QE3 certainly will have to take its place. Especially now that the Economy has once again taken a turn for the worse.

That said, we have to thank Mr. Blinder for providing the first direct evidence
that the prevailing throught among the Princetonian circle is one of
further stimulus. The only question is whether it will be fiscal or

We believe that with this the opening salvo for more cash demands, which will be met with staunch opposition in D.C., thereby kicking the ball back to the Fed (which already is doing everything in its power to deflate all commodities as rapidly as possible - a trend which will sooner or alter engulf risk assets as well) the only alterantive is monetary. Aka more quantitative easing. And when that becomes apparent, and when Goldman's Jan Hatzius is firmly on board, the full court press for another round of easing can begin.


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Thu, 05/12/2011 - 20:52 | 1270274 asdasmos
asdasmos's picture

To infinity and beyond.

Thu, 05/12/2011 - 21:02 | 1270312 PulauHantu29
PulauHantu29's picture


I'd add another Two Trillion to kickstart this sucker.

Thu, 05/12/2011 - 21:31 | 1270397 anynonmous
anynonmous's picture

Keene was hosting David (qe3)  Blanchflower today on his midday program.  Keene normally does a good job of disguising his bias, but today was a love in; must have been the aroma of manure being spread on the fields adjacent to Dartmouth where he is holed up today and Friday that brought out his Keynesian/Progressive inner self.


There was a great deal of animosity in today's show directed (by the guests) at Ryan and Boehner.


(if only I could remember the password to the parental lock, I would be tempted to check out the talent at CNBS to see if they have moderated their blatant political/economic bias.

Thu, 05/12/2011 - 21:49 | 1270470 Thomas
Thomas's picture

This is the idiot who said the weak dollar only mattered if you travel abroad. Princeton is the base camp for NAMBLA.

Thu, 05/12/2011 - 22:09 | 1270519 1100-TACTICAL-12
1100-TACTICAL-12's picture

We need to start developing a deck of cards for all these cocksuckers, hell it'll probably take 2 or three to get'em all. ZH1 to ZH2 double tapped the ace of spades...

Thu, 05/12/2011 - 22:44 | 1270595 earnyermoney
earnyermoney's picture

Such a deck exists. Your comment reminded me of Walstreetpro2 video from the early days of ZH. "Everythings made in China" features the deck I remember.

Fri, 05/13/2011 - 01:11 | 1270861 Americant Expat
Americant Expat's picture

That was a great video. I especially like when he said "$8/hour doesn't even support my weed habit..." I try to buy things that aren't made in China and it's next to impossible. 

Fri, 05/13/2011 - 09:07 | 1271266 RKDS
RKDS's picture

I hate it because it makes me feel helpless.  You have to already be rich to even be able to try to get anything manufactured here it seems, otherwise you have to put up with whatever the corporations are importing or do without entirely.  Feeling helpless to change this is the worst part though.  America is not a country where people should feel this way.  The boomers - their government, their "entrepenuers," their attitudes - have really fucked us.

Fri, 05/13/2011 - 09:34 | 1271388 Don Birnam
Don Birnam's picture

Blinder is completely unwatchable. The distracting twitch is worse than that of Chief Inspector Dreyfus.

Thu, 05/12/2011 - 23:00 | 1270629 Kopfjager
Kopfjager's picture

Agreed. Can't change anything set in stone unless you blow some rock.

Fri, 05/13/2011 - 06:27 | 1271058 Oh regional Indian
Oh regional Indian's picture

Aha, so you BLOW some ROCK to get STONED?

Now I get it.

Fri, 05/13/2011 - 02:28 | 1270938 Michael
Michael's picture

I just thank God 80% of the baby boomers will be dead of old age in 20 years. That should be about the time the MSM dies a horrible death as well, as the boomers in large part get their news exclusively from that dying 4th estate. Welcome new Internet 4th estate and alternative media.

Fri, 05/13/2011 - 06:29 | 1271061 Ying-Yang
Ying-Yang's picture

Yah.. keep on thinking that. About the time Boomers should be dying off stem cell organ regeneration will be bought with Boomer wealth, extending life expectancies and generational greed.

How's that inheritance working for you?

Fri, 05/13/2011 - 09:30 | 1271353 ElvisDog
ElvisDog's picture

What you wrote about stem cells will only apply to the uber-wealthy boomers. The rank-and-file won't have the cash to pay for life extension. I see just the opposite happening - average life expectancy will start to decline because we as a society won't be able to pay the enormous amounts required to keep the geezers going their last 2-3 years of life.

Thu, 05/12/2011 - 21:50 | 1270478 Cdad
Cdad's picture

I would be tempted to check out the talent at CNBS to see if they have moderated their blatant political/economic bias.  Their coverage has reached a level of irrelevance that is actually quite surreal to watch.  They are literally never on point with anything that really matters.  It's a 24/7 schedule of filler. 

Thu, 05/12/2011 - 23:25 | 1270688 akak
akak's picture



Non sequitur!

Thu, 05/12/2011 - 23:41 | 1270715 tmosley
tmosley's picture

He means "tits".  Big, beautiful, bouncy tits.  Oh yes.  Bouncy bouncy.


Thu, 05/12/2011 - 23:58 | 1270755 Soul Train
Soul Train's picture

Ben , Ben , Ben - now we know.

He must hide in a closet and smoke a special brew at night. Then trim his beard and put on his straight clothes during the day to print.

Meanwhile, our Federal government controls education and turns some of our best and brightest into rapping fools, like this High School Calculus class. -- just like Michele wrapping on the White House lawn with her rap music.

see for yourself how federal education influence has changed things

Fri, 05/13/2011 - 03:17 | 1270972 Dr. Porkchop
Dr. Porkchop's picture

I like mother had 18.

Fri, 05/13/2011 - 03:44 | 1270985 akak
akak's picture


But, I hear she is a real pig --- and a damned ugly sow!

Must be pretty thin at Christmas, what with being a decasextuplet and all.

Fri, 05/13/2011 - 04:20 | 1271005 Michael
Michael's picture

CNBC = Central Neo-Bank Cartel channel. The people you see on that channel are central bank employees.

Thu, 05/12/2011 - 21:53 | 1270466 Re-Discovery
Re-Discovery's picture

Blinder is THE definition of Egghead.  What a lizard.

Blinder, Lies-man, Made-off -- I love guys whose names fit their roles.

Thu, 05/12/2011 - 21:53 | 1270486 Lets_Eat_Ben
Lets_Eat_Ben's picture

Just looking at him makes me want to dig my fingers into his face skin and bite off his fucking nose

Thu, 05/12/2011 - 22:09 | 1270516 Re-Discovery
Re-Discovery's picture

I'll let you.  I'd rather not touch him at all.  I might catch his ecnomic blindness.

Fri, 05/13/2011 - 00:02 | 1270767 DaveyJones
DaveyJones's picture

I have a fever and the only prescription is more cowbell

Thu, 05/12/2011 - 22:31 | 1270561 smartknowledgeu
smartknowledgeu's picture

 Yes, from the guy that said,The last duty of a central banker is to tell the public the truth," (PBS’s Nightly Business Report, 1994), Blinder confirms that all central bankers are out to bilk the people and that they think or care of no one but themselves even if those gains are made through outright lying, stealing, cheating and deception. Central Bankers = Public Enemy #1 no matter in what country they dwell.



Thu, 05/12/2011 - 22:54 | 1270613 DoChenRollingBearing
DoChenRollingBearing's picture

Excellent reporting!

Fri, 05/13/2011 - 07:33 | 1271098 Mountainview
Mountainview's picture

This would be great... for Asia...

Thu, 05/12/2011 - 21:05 | 1270313 Scottj88
Scottj88's picture

This guy has such a nervous twitch with his jaw "snapping" when he is talking.

I may not be from Princeton, but it doesn't take an overpriced education to see the Dollar is dying....

What a joke!  We will be off the Federal Reserve Note within 18 months anyways.  The question is will they succeed in setting up their next fiat currency?

Thu, 05/12/2011 - 21:15 | 1270350 asdasmos
asdasmos's picture

It is his mission to devalue the dollar. He knows this.


He just has to keep up the dog and pony show for the public. (along with 'expectations')


The touble is when the situation gets out of his hands. Although we might already be in or nearing the event horizon.

Thu, 05/12/2011 - 21:33 | 1270415 rocker
rocker's picture

Looks like another Physical Weekend coming this week. Screw their phony stock market that crashes on GS's command. I want real Money.

Besides, I want my can of popcorn this Christmas. Last year's orders were on 4/18 and 5/10. This is far from over.  

Thu, 05/12/2011 - 21:35 | 1270418 rufusbird
rufusbird's picture

He is so old he does not give a shit...

Thu, 05/12/2011 - 21:26 | 1270370 G-R-U-N-T
G-R-U-N-T's picture

Indeed perhaps a Tic or Tourettes disorder obviously an anxiety based mental illness brought on by "Why the fuck isn't this working" syndrome!

Thu, 05/12/2011 - 21:25 | 1270384 Richard Weed
Richard Weed's picture

Another Obama voter spending public moneys to ensure that Obama gets re-elected in 2012.

This is beyond disgusting.

Thu, 05/12/2011 - 21:50 | 1270463 Bay of Pigs
Bay of Pigs's picture

Blink, whoop, whoop....oh boy, oh boy.....blink, bitch, slut.....oh boy....

Fri, 05/13/2011 - 08:22 | 1271178 Chump
Chump's picture

We've been doing this fucking shit for 3 fucking years now.  It's time for a new approach, like hanging fucking bankers and politicians by the neck until dead.

Thu, 05/12/2011 - 23:33 | 1270705 Monedas
Monedas's picture

I thought he was chewing gum ! That's a methamphetamine facial tick ! Look at what Hitler did on Meth ! Monedas 2011 Woodrow Wilson World Tour

Fri, 05/13/2011 - 01:19 | 1270866 Americant Expat
Americant Expat's picture

I swear I saw a reptilian double eyelid flip in there somewhere. Fucking guy twitches more than a crack whore. Someone get him his fix.

Fri, 05/13/2011 - 03:32 | 1270978 Al Gorerhythm
Al Gorerhythm's picture

Down Under, when you have an epic drinking session, it is known as; Going On A Blinder. This guy's nervous twitch is akin to the DTs. One too many blinders gets a mind to thinking like he does.

Thu, 05/12/2011 - 23:48 | 1270730 bigelkhorn
bigelkhorn's picture

That guy from FFT is very good and called the market crash back in 2008.


He reckons there is a good chance the market might bounce here. I just

watched his live video today, He is very good and I love his membership site. 


its over at

Fri, 05/13/2011 - 00:54 | 1270841 VegasBob
VegasBob's picture

Blinder, Bernokio, Yellen and all the rest of the money-printers are just common counterfeiters.

We should give them the same punishment that was meted out to counterfeiters a hundred years ago.

Execute them!

Fri, 05/13/2011 - 07:21 | 1271088 Al Gorerhythm
Al Gorerhythm's picture

Does this prick have an email so that I can send him this, comments inclusive?

I would also like to educate him on the essence of why the constitution established that the Federal Treasury was solely responsible for the issuance of the NATIONS money as opposed to an interest bearing note issued from a private bank. As I'm sure that he is just a paid shill and that he already knows this, I'll post this so that we at least know where to start, when this needs to re-boot (With kudos to Martin Armstrong for digging this quote up).

Adam Smith, (a real economist); Wealth of Nations.

Like an impoverished spendthrift,

whose pressing occasions will not allow him to wait

for regular payment of his revenue,

the state is in the constant practice of borrowing of its own factors and agents, and

of paying interest for the use of its own money.


Fri, 05/13/2011 - 07:55 | 1271119 I am more equal...
I am more equal than others's picture

That's Pat Paulson in the video.  He's no longer running for president but is using his talent to mock keynesian economics.  Bravo! well done.  So real and displaying the contempt of common sense in such a dead-pan manner.

Fri, 05/13/2011 - 07:58 | 1271128 overmedicatedun...
overmedicatedundersexed's picture

Ben this week per CNN:

"Federal Reserve chief Ben Bernanke reinforced his call on Thursday for Congress to raise the cap on U.S. borrowing, saying a failure to do so could lead down the same risky path that the failure of Lehman Brothers did.

During a Senate Banking Committeee hearing, Bernanke reiterated catastrophic consequences should Congress either fail to raise the limit on borrowing or edge too close to that limit.

"The worst outcome would be one in which the financial system would be again destabilized, which we saw in Lehman, which would have extremely dire consequences for the rest of the economy," Bernanke said, referring to the period following the failure of the Wall Street bank Lehman Brothers at the height of the financial crisis in 2008.""

Hey Ben, this bs worked in 08 so rinse wash and repeat is his meat.

"Somebody has got to go to Jail" no recovery with out JUSTICE.

Thu, 05/12/2011 - 20:53 | 1270275 HastyP
HastyP's picture

Oh Oh!  I thought this was not going to happen.  Is this good or bad???

Thu, 05/12/2011 - 21:37 | 1270403 Eternal Student
Eternal Student's picture

Depends on how you're betting. To clear out all of the bad bets which are keeping us from a proper recovery, this is bad.

And perhaps another warning shot has been fired. I noticed that blogger seems to have screwed up the database for Harvey Organ's blog. One can't post a reply on the most recent posting (Wednesday). And I notice that Harvey hasn't posted today, which he usually does by now, so perhaps he's been cut off.

With all the attacks by the banking trolls, and now this, it makes one wonder. Though I wouldn't rule out blogspot stupidity. I hope you have good backups, Tyler.

P.S. To the Silver Turd. I hope you're designing your new site with a superb recovery strategy, along with some semblence of security. The average button-pushing webmonkey designer has little clue here, and I've never met one who didn't think he was hot stuff until the real pros came along to prove him otherwise.

Thu, 05/12/2011 - 22:16 | 1270539 Hephasteus
Hephasteus's picture

Yep. I think the ditto heads are giong to start the programming and the non ditto heads are going to be experiencing tecnical difficulties.

Fri, 05/13/2011 - 00:14 | 1270789 Eternal Student
Eternal Student's picture

And then ZH goes offline. Hmm. Perhaps the game is afoot.

Fri, 05/13/2011 - 00:29 | 1270819 Hephasteus
Hephasteus's picture

Ya they are running some kind of denier campaign.

Climate change deniers.

9/11 deniers.

Next will be birth certificate deniers.

You should see the climate scientists rap about climate change deniers. It's straight out of 1980 don't copy that floppy rap.

Fri, 05/13/2011 - 00:21 | 1270807 FreeNewEnergy
FreeNewEnergy's picture

It's not just Harvey Organ, blogger (all blogspot sites) is down globally. Sites show, but users cannot comment or post. Been that way since 3:30 EDT. Googlers say they're working on it.

Tomorrow? I'm guessing maybe. Stuxnet?

Fri, 05/13/2011 - 00:57 | 1270842 Eternal Student
Eternal Student's picture

Stuxnet is different. As I mentioned, I wouldn't rule out blogspot stupidity. Google generally hires a bunch of young kids who are bright, but have no experience. So they tend to do things inefficiently. Screwups are a part of this. I.e. reinvent common mistakes.

But in any case, taking out blogspot would be a big plus for the Banksters.

Thu, 05/12/2011 - 20:56 | 1270276 Oracle of Kypseli
Oracle of Kypseli's picture

Right on cue. They are so predictable, it's shameless.

Not knowing when and how this stimulus is going to be implemented, timing your bets is tricky.

Thu, 05/12/2011 - 21:00 | 1270293 El Hosel
El Hosel's picture

   Yeah, smash the oil and metals  market to set up the next phase .... "Look Ma, more proof there is no inflation"  

   The QE ZOMBIE is unstoppable.

Thu, 05/12/2011 - 21:43 | 1270450 rocker
rocker's picture

Your right about the metal markets. But oil is not near getting a haircut. When the barrel is under 70 I'm a believer that the CME has your wallet in their concerns. The Banksters will not allow it to get that low. You can't eat oil, but you need it to get to work.  

Thu, 05/12/2011 - 20:58 | 1270285 RedMeansGo
RedMeansGo's picture

If you read this stuff in a movie script, you would think it is far fetched.  Yet, somehow it passes for policy?

Thu, 05/12/2011 - 20:58 | 1270296 Cognitive Dissonance
Cognitive Dissonance's picture

Reality has officially "jumped the shark" and entered the Twilight Zone

Time for some sensible and totally realistic prime time or movie shoot em up dramas to feed my normalcy bias. Reality is too unrealistic and off the wall for my taste.

Thu, 05/12/2011 - 21:17 | 1270346 DoChenRollingBearing
DoChenRollingBearing's picture

That's why DoChenRollingBearing enlisted as a Space Cadet in the Tinfoil Hat Brigade a week ago!

Reality and attendant lies were becoming too irksome.  The last straw was the new BCBS insurance bill (up 15% vs. last year).

Thu, 05/12/2011 - 22:37 | 1270578 MissCellany
MissCellany's picture

(a Space Cadet in the Tinfoil Hat Brigade)

LOVE this!!! :^D

Thu, 05/12/2011 - 23:58 | 1270754 JR
JR's picture

The 2011 Milliman Medical Index healthcare cost is $19,393, a 7.3% or $1,319 increase over 2010…  An MMI spokesman says, "Employees will pay $8,008 more for healthcare in 2011 than they did in 2010." Healthcare costs for a family of four ranged from $17,336 in Phoenix to $23,362 in Miami. In six of the 14 cities studied healthcare costs exceeded $20,000 annually for a typical family of four. -- HealthLeaders Media, May 12, 2011

My Blue Cross was increased 22.5% in April. These are the reasons BC gave :

·         Price inflation for medical services – including prescription drugs – that exceeds inflation in other sectors of the economy

·         Cost-shifting from people who are uninsured and those receiving Medicare and Medicaid to the private sector

·         Advances in medical technology and subsequent increases in health care services

·         Changes in federal and state law, including a new requirement that your premium can’t vary due to your gender (men and women are now required to have the same rate by age).

With this additional note:

·         “We are adjusting some of your policy’s benefits to help keep your premium increase lower and your policy benefits more in line with medical inflation. There will be changes to some of the ‘cost-sharing’ amounts on your policy (such as copays, coinsurance and/or deductible)…you know, like raising my deductible from $7500 to $8850. 

Fri, 05/13/2011 - 00:14 | 1270788 Oracle of Kypseli
Oracle of Kypseli's picture

Unless you are chronically ill, it is cheaper to bail out of any health insurance. That's how you can collapse price gouging. Doctors started advertizing fees in some areas. Call, ask for pricing, insist and eventually they will get the message.

Fri, 05/13/2011 - 01:16 | 1270867 Libertarian777
Libertarian777's picture

funny how your health insurance PREMIUM is a healthcare 'cost'.

Imagine if you were allowed to SAVE that $20k per year for a family of four. After working for 20 years you've got $400k for medical expenses. Instead it all goes to the health insurer's bottom line.

And Obamacare REDUCED the HSA, to discourage saving.

Fri, 05/13/2011 - 06:00 | 1271037 Husk-Erzulie
Husk-Erzulie's picture

Ha ha, welcome Cadet Bearing, now repeat after me...

This is my tinfoil. There is much tinfoil like it, but this tinfoil is mine.

My tinfoil is my best friend. It is my life. I must master it as I must master my life.

My tinfoil, without me, is useless. Without my tinfoil, I am useless.

My tinfoil and myself know  what counts in this war.

My tinfoil is human, even as I, because it is my life. Thus, I will learn it as a brother. I will learn its weaknesses and its strength. I will ever guard it against the ravages of weather and damage as I will ever guard my legs, my arms, my eyes and my heart against damage. I will keep my tinfoil clean. We will become part of each other. WE WILL...

Before God, I swear this creed. My tinfoil and myself are the defenders of my country. We are the masters of our enemies. WE ARE THE SAVIORS OF MY LIFE.

So be it, until victory.  There is no enemy but peace!

Fri, 05/13/2011 - 01:07 | 1270856 tired1
tired1's picture

As a kid I used to read Ian Flemming and went to see the Bond movies, Flemming had an interesting history and it seems that his plots were not as fantastical as I once thought. Just consider Goldfinger - blow up Ft Knox to corner the worlds gold market. From Russia with Love - CIA/MI5 vs SMERSH while SPECTRE plays its' game in the background.

These guys are charactors from a Bond script.

Thu, 05/12/2011 - 20:55 | 1270286 randocalrissian
randocalrissian's picture

Knew I was hoarding green ink for a good reason.

Thu, 05/12/2011 - 20:55 | 1270288 Yen Cross
Yen Cross's picture

It won't happen. Consessions.

Thu, 05/12/2011 - 20:58 | 1270289 tmosley
tmosley's picture

BS.  I have it on the authority of a furniture delivery boy and an unemployed crackhead that there will be no QE3, and then boy will we be sorry.  Oh yes, we'll get our comeuppance that day, let me tell you!

Thu, 05/12/2011 - 20:58 | 1270302 asdasmos
asdasmos's picture




Thu, 05/12/2011 - 22:35 | 1270569 wirtschaftswunder
wirtschaftswunder's picture

What an origional avatar. My my.

Fri, 05/13/2011 - 04:58 | 1271018 schizo321437
schizo321437's picture

Freud is your friend.

Thu, 05/12/2011 - 20:59 | 1270308 DonutBoy
DonutBoy's picture

Hey, I'm not unemployed!  I've been working on my business plan for 99 weeks.

Thu, 05/12/2011 - 21:19 | 1270354 Texas Gunslinger
Texas Gunslinger's picture


17 MORE!




Thu, 05/12/2011 - 21:25 | 1270374 tmosley
tmosley's picture

Herp a derp.  You make lots of posts, therefore you have no credibility.


Thu, 05/12/2011 - 21:54 | 1270479 Bay of Pigs
Bay of Pigs's picture

Hey Slinger #1,

Go fuck yourself


God bless you


What's wrong with the silver market?

Thu, 05/12/2011 - 22:24 | 1270548 wirtschaftswunder
wirtschaftswunder's picture

What's wrong with the silver market?



I'll take this one 'Sling.

The problem w silver you say? Why, the end of QE.

I like your style Dude.



Thu, 05/12/2011 - 22:43 | 1270592 nmewn
nmewn's picture

Did you swap shifts with somebody?'re early.

Thu, 05/12/2011 - 22:56 | 1270611 wirtschaftswunder
wirtschaftswunder's picture

I swaps shifts w you but yours is gross

Thu, 05/12/2011 - 23:06 | 1270641 tmosley
tmosley's picture

I prefer the morning one.  At least that one was able to put together a real insult rather than utter nonsense like this.

I mean, what is that even supposed to mean?

Thu, 05/12/2011 - 23:38 | 1270714 wirtschaftswunder
wirtschaftswunder's picture

It's means they pee'd on your fucking rug asshole

Thu, 05/12/2011 - 23:45 | 1270719 tmosley
tmosley's picture

I have no idea what you are trying to say.  Are you confusing me with someone else?

Crack is a helluva drug.

Fri, 05/13/2011 - 03:12 | 1270967 Hephasteus
Hephasteus's picture

I gotta watch that big lebowski sometime. It's a reference to it. Who's a big lebowski fan around here. Rusty Shorts?

Fri, 05/13/2011 - 08:12 | 1271152 tmosley
tmosley's picture

What does that have to do with "swapping shifts"?  And what does it mean when he says his shift "is gross"?

It just don't make no sense.

Fri, 05/13/2011 - 09:30 | 1271351 nmewn
nmewn's picture

Just give the ole wondermeat ID enough rope every time.

Pissing on the rug?...the new guy signing in pissed his pants apparently, they can't even afford competent trolls...ROTFL!

Fri, 05/13/2011 - 09:52 | 1271460 Hephasteus
Hephasteus's picture

 I don't know. You are looking at two different posts by 2 different people.

Thu, 05/12/2011 - 22:45 | 1270596 akak
akak's picture

Hey Slinger #1,

Go fuck yourself


God bless you


What's wrong with the silver market?

No no, BayofPigs!  You can't antagonize and discredit all of them at once!

That just risks bringing out operatives #4, 5, 6 and 7.

Oh the humanity!

Thu, 05/12/2011 - 22:54 | 1270615 wirtschaftswunder
wirtschaftswunder's picture

Oh look! A pirate following the herd.


Thu, 05/12/2011 - 23:01 | 1270631 tmosley
tmosley's picture

Holy shit.  Sure enough that is a new person!  Doesn't even remember who akak is.

That or the crack has shattered his psyche, leaving behind multiple personalities.  All drug addled, but separate, none-the-less.

Thu, 05/12/2011 - 23:37 | 1270709 DoChenRollingBearing
DoChenRollingBearing's picture

Poseur.  The Euro wielding Wonder.

Thu, 05/12/2011 - 22:12 | 1270524 New Survivalist
New Survivalist's picture

Still feeling the pain of rejection, I see?

Thu, 05/12/2011 - 21:00 | 1270297 Robslob
Robslob's picture

Might work better if he waited until the market actually fell 5%... but then again why let it fall when peasants can be taxed on their "real wages" to pay for the easy money crowd a little longer.

This won't end in tears, we are beyond that, it will end in blood.

Thu, 05/12/2011 - 21:02 | 1270315 DonutBoy
DonutBoy's picture

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
Thu, 05/12/2011 - 21:01 | 1270301 Eireann go Brach
Eireann go Brach's picture

Why do these economists all look like recovering heroin or crack addicts? He looks like he just escaped from rehab after spending 18 years shoving needles up his fucking arse! But Bernanke still looks like # 1

Thu, 05/12/2011 - 21:04 | 1270320 SoNH80
SoNH80's picture

Useful idiots.  Here in America, ugly people go far, since they aren't a threat to anyone.  That's why every CEO is bald and looks like a sack of potatoes with a pumpkin perched on top of it.  BTW, a tip of the hat from New Ireland, if you ever get tired of Irish Austerity, you can come over to Eastern New England and enjoy some American Stagflation.

Thu, 05/12/2011 - 21:01 | 1270303 UGrev
UGrev's picture

People need about 10 years to recover; to eliminate or reduce their debt significantly. We need to not have shit like 47% taxation. I literally stopped contracting because that's what the overall tax was from the lowest gov't step to the highest. Forty fucking seven. I half toyed with the idea of just going on funemployment. Working for ones self is just not worth it.

So cut the taxes to something that resembles reason, like 0% (pipe dreaming), let people recover and buffer up their finances allowing the to accumulate some savings. For fucks sake, we can't save shit because by the time the avg middle class person raising a family saves anything, he has to buy new brakes, or new tires or some other stupid shit breaks on the house. It's not sustainable. So shove your QE3 up your ass, you bastard. People like you should be bound like pigs, have a bag with a pissed off rat tied to your ass and then have the rat beaten while the masses watch you scream. You get the picture? we've had enough of this shit. 

Thu, 05/12/2011 - 21:11 | 1270329 SoNH80
SoNH80's picture

I squeezed out an Alan Blinder on the toilet this morning, after a night of white wine and escargot w/garlic sauce (at home, what can I say, I'm part Frog).  I agree w/you 110%, what's more, I have realized that paying a 55% effective tax rate is madness, but I do it anyway like a good slave.  I envy the ones that can fly stealth and buy lifted trucks with pre-tax dollars....

Thu, 05/12/2011 - 22:58 | 1270616 sgorem
sgorem's picture

I've been watching your post Ugrev for a long time now, and I just want YOU to know that I couldn't put it any better! Fucking A Man, tell it like it IS. We need more posters/believers like you. Fuck the Banks, Fuck the Government, Fuck Wall Street, and FUCK the yEU! It will ALL end in bloodletting for sure. This post is for ALL you suedo-sucking trolls out there that don't have anything to offer but your total bullshit. Have a great day.

Thu, 05/12/2011 - 23:41 | 1270718 DoChenRollingBearing
DoChenRollingBearing's picture

Ugrev & sgorem,

+ a cool $55,000 / oz to you both.

Excellent, excellent rants!

Thu, 05/12/2011 - 21:00 | 1270309 Robslob
Robslob's picture

The government is too heavy for that to happen

Thu, 05/12/2011 - 23:08 | 1270639 mick_richfield
mick_richfield's picture

As a famous anarcho-libertarian once said:

"Come to me all you who are weary and burdened, and I will give you rest.  For my yoke is easy and my burden light."

U.S. out of North America.

Fed delenda est.

Thu, 05/12/2011 - 23:46 | 1270722 DoChenRollingBearing
DoChenRollingBearing's picture

Hey, I just quoted you (with attribution).

Fri, 05/13/2011 - 06:17 | 1271051 mick_richfield
mick_richfield's picture

Thanks, DCRB.  The reason I love that quote is that Cato never stopped reminding the Senate "Carthago delenda est" no matter what they were talking about -- until finally nothing lived in Carthage but the crows.

I will outlive the Federal Reserve.  ( And I am not young. )



Thu, 05/12/2011 - 21:04 | 1270311 JR
JR's picture

This answer to Chris Martenson’s statements from “Why Growth Is Dead” fits best here.

On the plus side, we can all be thankful for the one thing that money printing can do, and has done, which is buying a little more time for everyone.

“Buying a little more time for everyone,” is what a little more printing will do? “Just one more little drink before I head for home,” Father told Little Mary, standing at the bar-room door, / While the shameful midnight revel / Rages wildly as before.

Father, dear father, come home with me now,
The clock in the steeple strikes one;
You said you were coming right home from the shop
As soon as your day's work was done;
Our fire has gone out, our house is all dark,
And mother's been watching since tea,
With poor brother Benny so sick in her arms
And no one to help her but me,
Come home! come home! come home!
Please father, dear father, come home.

‘tis the Song of Little Mary to the banker’s plea…set em’ up for Joe, just one more…to fix our ravage economy, Joe... And Father won’t be coming home anymore.

While money printing can so some wondrous things in the short term - (Hey, give me $2 trillion to spend and I'll throw a nice party, too!)...

Unfortunately, Ben did not throw any money to me: I’m in cash and real estate.  Ben stole money from me to give to Goldman, JPMorgan, Morgan Stanley, AIG...and, I guess, to Chris Martensen.

The United States has lived beyond its means for a couple of decades and promised itself a future that it forgot to adequately fund.

What’s with this “us” collectivism?  I’ve in no way lived beyond my means. Speak for yourself, Chris. I’ve lived diligently within my means. And “forgot to fund” has a welfare state ring to it.

The choice that remains is between accepting an unpleasant but relatively steady period of austerity leading to a new lower standard of living -- and a final catastrophe for the dollar

Give me a break. No, the final choice is putting Goldman et al. on trial; forcing Ben to reveal  in just whose pockets he stuffed those trillions and making Ben and the boys accountable;  closing down the Fed and sending its cabal of the richest international bankers in the world packing. And getting the IMF’s fingers out of the U.S. taxpayer till. Otherwise, we WILL wake up homeless.

In order for the 2010 decade to mirror, match, or in any way resemble the prior four decades, credit market debt will need to double again from $52 trillion to $104 trillion. 

We already have reached “the Keynesian End Point” for crying out loud. Nathan Martin’s Diminishing Marginal Productivity of Debt in the US Economy chart is a very simple chart. Here’s how Nate explains it: “It takes the change in GDP and divides it by the change in Debt. What it shows is how much productivity is gained by infusing $1 of debt into our debt backed money system. Back in the early 1960s a dollar of new debt added almost a dollar to the nation’s output of goods and services. As more debt enters the system the productivity gained by new debt diminishes...”

With Benny’s continued printing, “a funny thing happened along the way. Macroeconomic DEBT SATURATION occurred causing a phase transition with our debt relationship. This is because total income can no longer support total debt. In the third quarter of 2009 each dollar of debt added produced NEGATIVE 15 cents of productivity, and at the end of 2009, each dollar of new debt now SUBTRACTS 45 cents from GDP!”

Sorry Chris and Alan. No more for the road. It’s closing time.

Thu, 05/12/2011 - 22:06 | 1270506 Korrath
Korrath's picture

You missed the point of Chris' article in such a spectacular way it's kind of amazing.  

Hint - He was in no way agreeing with the babbling jackass above.  

Reading comprehension for the win, fuck-wit.

Thu, 05/12/2011 - 23:22 | 1270679 JR
JR's picture

Thank you for your response.  And I hope that you are in the minority of people who were taken in by this spoonful of sugar helps the medicine go down.

When I read something, I read every line.  And the lines show that Chris Martenson favors QE III; never mind his predictions for if it’s in effect or the effects if it isn’t in effect, i.e., if there’s no money printing. To spend an entire column denouncing the ills of money printing and mixing in the warnings for not printing is incredibly despicable. It’s dishonest.

If you have a moment, go back and read this line to yourself: “to exit quantitative easing will lead to a substantial market rout that will roil all asset classes this year.”

What Fed governor could make this any plainer?

Fri, 05/13/2011 - 08:06 | 1271146 MadeOfQuarks
MadeOfQuarks's picture

So Chris is supposed to lie and say that ending QE will immediately bring about Fat wallet-syndrome for all?

The US is stuck between a rock and a hard place and pretending there is a painfree solution doesn't make it so.

Fri, 05/13/2011 - 11:29 | 1271849 JR
JR's picture

Our complaint is not with a lie; it’s with the extensive effort Chris puts up to cover his recommendation for more printing.  As for the pain, I don’t know about others but I’ve had the pain, I’m having the pain and Chris suggests I need to give just a little more for the rescue of the “paper markets” from a fate that he is positive is in the cards.

These “paper markets” are a thinly veiled reference to the interests of the bankers, and I can’t help but remember that impassioned plea, tears almost ready to drop from his eyes, when former Treasury Secretary Paulson (aka Goldman CEO) described the unspeakable tragedies that would result if we did not immediately take taxpayer money and take action.

So without our consent, we bailed and bailed and bailed.  And now, Chris wearing his Paulson hat knows exactly what will happen to the “paper markets” if we do not inflict one more round of pain on the taxpayers (me).  And I am to accept more pain   Let’s be clear, what the bankers are engaged in right now is a little short of pain; it does start with ‘p” but it’s called plunder. 

I am getting very tired of pretenders like Chris pretending to be on my side while taking just a little more of my property for that unseen tragedy that every single time has transferred said property to the coffers of the obscenely crooked owners of the Federal Reserve Bank.

The rock and the hard place choice you suggest is the banker-designed choice.  And when Chris says “we forgot to fund” the future the U.S. promised itself, that too was a banker choice.

What happened was pretty clear: the Federal Reserve printed the money for the politicians to reward their constituents with every single solitary project they wanted and this budget busting helped them design again the “either pay up or you’ll suffer.” I don’t think “forgot to fund” is the phrase I would have used.

Fri, 05/13/2011 - 04:01 | 1270997 MadeOfQuarks
MadeOfQuarks's picture


Thu, 05/12/2011 - 21:05 | 1270317 Id fight Gandhi
Id fight Gandhi's picture

But I don't want qe3.

Thu, 05/12/2011 - 22:08 | 1270511 Korrath
Korrath's picture

You'll have QE3 and like it!  


So help me God, I'll fetch the strap, boy!

Thu, 05/12/2011 - 21:07 | 1270319 The Count
The Count's picture

Let me put it bluntly:

We are surrounded by freakin idiots, both in congress and in academia, that don't know diddely squat about economics. Add to that a White House with Bozo the Clown at the helm that is constantly leaking secrets that 30 years ago you would have spent a long time in jail for and we have the perfect storm that will take down the entire country.


Thu, 05/12/2011 - 21:13 | 1270334 JR
JR's picture

What I resent is this catastrophe, this awful situation that’s going to happen, this sinking of the entire country UNLESS WE DO THIS! Where have we heard this before?  It was Mr. Paulson who said that, and as far as I know he’s not looking at us from behind bars; he’s off somewhere selling his book and hugging trees… 

These threats remind one of a mugger, facing you, with a gun in his hand…  THEY ARE COMING FOR OUR MONEY.  What he's saying is, This is a good idea for YOU…

Thu, 05/12/2011 - 21:13 | 1270335 IdioTsincracY
IdioTsincracY's picture

" We are surrounded by freakin idiots, both in congress and in academia, that don't know diddely squat about economics."

How wrong you are!

These people know exactly what they are doing, unfortunately for the rest of us.

Fri, 05/13/2011 - 06:05 | 1271043 falak pema
falak pema's picture

The great international Oligarchy...parked in tax havens...and the nation state middle-low classes being robbed to the bone....slowly but surely with every turn of the QE key. The western  nation states die in front of our very eyes. It's back to the feudal age.

One day the 'developed world' will wake up and realize it is truly third world and the new, rich middle classes, wherever they be in the international casino, will head for R&R (as they do today to Bangkok, Manilla and Kiev), to Detroit, LA and SF; to Athens, Lisbon and Dublin etc.

Seen from Mount Olympus, gated rich compound where the Oligarchs live, its just  another play of the world monopoly 'labour arbitrage' game. Where, if real commodities run out, the ball park will be open to shoot those humans who are ordained high up as designated part of the 'herd thinning crowd', by the Oligarchs; then parked in their Kruger national parks, ready to be sacrificed during a good Safari where herd thinning barbecues are the capping highlight of a good civilized Oligarch's party. 

Thu, 05/12/2011 - 21:16 | 1270341 Everybodys All ...
Everybodys All American's picture

No question. I wonder if anyone will actually ever be held accountable by this government or if we the people will have to do it.

Thu, 05/12/2011 - 22:04 | 1270503 The Count
The Count's picture

1789 my friend....

Fri, 05/13/2011 - 00:23 | 1270808 Oracle of Kypseli
Oracle of Kypseli's picture

Are there any guillotines made in America?

Fri, 05/13/2011 - 08:12 | 1271153 StychoKiller
StychoKiller's picture

I have the mad woodworking skillz, I just need to sharpen a steel cookie sheet...:>D

Fri, 05/13/2011 - 12:27 | 1272042 knowless
knowless's picture

honestly, the sheet would be too thin, you'de have to get up to at least 3/8th's of an inch for the blade to really have enough weight behind it to hit right and not buckle when it hits the stops.

Fri, 05/13/2011 - 10:02 | 1271499 The Count
The Count's picture

No, but I am sure it would be easy to find a Chinese supplier...

Thu, 05/12/2011 - 21:07 | 1270326 Sisyphus
Sisyphus's picture

Why is he moving his jaw as if he is having a siezure or a stroke, or is he trying to chew something? An imaginary gum or an imaginary d***?

Thu, 05/12/2011 - 21:14 | 1270338 SoNH80
SoNH80's picture

Oral fixation.... probably option #2.  Blankfein shooting blanks into it....

Thu, 05/12/2011 - 23:53 | 1270749 Monedas
Monedas's picture

Methamphetamine facial ticks ! He probably bites his tongue and lips and inner cheeks a lot too ! He's wired ! Monedas 2011 Lots of bite marks on his jib !

Thu, 05/12/2011 - 21:11 | 1270327 sabra1
sabra1's picture
Democrats Embrace Tax Hike Versus Medicare Cut
Thu, 05/12/2011 - 21:13 | 1270342 Robslob
Robslob's picture

There are no Democrats
There are no Republicans
There is no spoon Neo

Thu, 05/12/2011 - 21:48 | 1270465 earnyermoney
earnyermoney's picture

only Fascists.

Thu, 05/12/2011 - 22:26 | 1270558 nmewn
nmewn's picture

Where is Leo on this anyway? ;-)

Thu, 05/12/2011 - 23:01 | 1270630 topcallingtroll
topcallingtroll's picture

He cant take the heat so he left the kitchen.

Fri, 05/13/2011 - 00:15 | 1270797 jomama
jomama's picture

he probably got paranoid, caved and went all in on Ag when it hit 49 bennybux

Thu, 05/12/2011 - 21:12 | 1270330 lynnybee
lynnybee's picture

I've been watching T.V. tonight ... THE OFFICE.    They are in revolt against the new policies & are forming a revolt group :   THE FIST / OPERATION OVERTHROW.    that sounds like a great solution for our current problems in this country.

Thu, 05/12/2011 - 22:11 | 1270514 High Plains Drifter
High Plains Drifter's picture

make sure they have the post ban ak's , the ones with the bayonet lugs on them. so they can fix bayonets........when the time comes.  for pig sticking, doncha know....

Thu, 05/12/2011 - 22:37 | 1270582 web bot
web bot's picture

Carefully watch the memes and themes that start to appear in mainstream media... these are usually are a precursur to something.

There is ample evidence in the area of psychology of how memes and ideas affect the thinking of the masses. Recall the show 48 Hours, where they had a black president (now, I'm not saying that this was the reason for Obama being elected), at that time, it would be almost unheard of to have a black president, however this meme was a precurser to the fact that the US public was "ready" or "willing" to entertain the thought.

Memes introduce a different way of thinking. Consider how the homosexual agenda has evolved to the point that it is mainstream. No one would have ever thought that this, or a black president would have happened in out lifetime. With the masses glued to the idiot box nightly, these memes play out over time in the psyche of the masses. Jung wrote extensively about this.

The talk of office "revolt", 2012, etc... affects and conditions people's thinking over time. Just 2 months ago, this man that I've known for 40 years came over and asked me about 2012 and the Myans. I was shocked that these questions were coming out of his mouth?

Be watchful of the memes appearing in mainstream media. They are telling us something.

Thu, 05/12/2011 - 23:08 | 1270637 DoChenRollingBearing
DoChenRollingBearing's picture

That is an interesting analysis.  I hope CogDis sees it.

Fri, 05/13/2011 - 10:56 | 1271742 SilverRhino
SilverRhino's picture

And the way to "wake up" is to stop watching TV.   Good post.

Thu, 05/12/2011 - 23:26 | 1270689 baby_BLYTHE
baby_BLYTHE's picture

Time for some PROJECT MAYHEM action, bitchez!

Thu, 05/12/2011 - 23:49 | 1270735 DoChenRollingBearing
DoChenRollingBearing's picture

See Sean7k's nice action plan below (#1270458).

Thu, 05/12/2011 - 21:15 | 1270331 JustPrintMoreDuh
JustPrintMoreDuh's picture

Whatever the next fiat currency ends up being ... lets make it out of something edible at least.  


"somewhat more"  = some # >=1 with a $hit load of 0's behind it.

Fri, 05/13/2011 - 08:14 | 1271160 StychoKiller
StychoKiller's picture

Would ya do it for a Scooby Snack®?

Thu, 05/12/2011 - 21:10 | 1270332 TwoShortPlanks
TwoShortPlanks's picture

How the fuck can you write an educational document/book when we haven't had enough time to see the real effects yet?????

Fri, 05/13/2011 - 02:59 | 1270958 Urban Redneck
Urban Redneck's picture

Until Blinder's textbooks are banned from US Indoctrination Camps, our educational institutions will continue to produce mindless idiots faster than social Darwinsim can reduce them.

Thu, 05/12/2011 - 21:13 | 1270340 Tedster
Tedster's picture

Yes, because the "experts" from Princeton and Deah Old Hahvahd have been on the ball for so long.

Pretty much, if these clowns are for something, I'm usually against it. They've done enough damage to America, Thanks guys.

Thu, 05/12/2011 - 21:14 | 1270347 SoNH80
SoNH80's picture

The Ivy League:  Training Idiot Anti-American Genuises since 1965.

Thu, 05/12/2011 - 22:32 | 1270564 nmewn
nmewn's picture

I didn't even know Princeton had a Drama Dept.

Fri, 05/13/2011 - 06:13 | 1271050 Husk-Erzulie
Husk-Erzulie's picture

Good call.  I woulda put it more around '73 somewhere but yeah, the ivy league definately jumped the intellectual shark somewhere in that timeframe.  Nothing but an empty, and very provisional, stamp of approval from the MIC to upwardly mobile drone wannabees.

Thu, 05/12/2011 - 21:16 | 1270343 Use of Weapons
Use of Weapons's picture

+10 wooden stakes

Oh, and I'm currently penning a paper called "How I saw through the bullshit and motivated measures against scumbags who destroyed my country".



Thu, 05/12/2011 - 21:15 | 1270351 Dixie Rect
Dixie Rect's picture

Amazing... the fucksticks and douche nozzles making policy in this country.

Thu, 05/12/2011 - 21:19 | 1270365 I am Jobe
I am Jobe's picture

Hang the bitchezzz soon if not they will rape you and your family. Its over. We are not Weimer Republic. bastards must be hunted down and not spared.

Thu, 05/12/2011 - 21:24 | 1270369 PaperBear
PaperBear's picture

Load the boat with silver. Remember, the COMEX only has 33MN oz of registered silver.

Thu, 05/12/2011 - 21:21 | 1270371 benb
benb's picture

It's the summer of 1914.

Thu, 05/12/2011 - 21:23 | 1270376 Ned Zeppelin
Ned Zeppelin's picture

I think, after an "appropriate interval," QE3 will indeed be announced, if only because the owners of the Fed decide it's time for more free money. And when is it not a good time for that, except for the feeling that just maybe a brief time-out between bouts of the outright theft assists in the conceit that QE is some sort of brain-child, academia-validated, technically adjusted "policy," as opposed to stealing.  

Let's not forget that QE Lite 2.0 will no doubt continue in full force, and with a balance sheet this big, that in and of itself is almost a full-fledged QE program all on its own. 

Thu, 05/12/2011 - 22:22 | 1270550 web bot
web bot's picture

Be certain of one critical fact... If they announce QE3.... know that we are in serious, serious #uckin trouble... heading directly for a ratings drop and waiting for a peripheral event to cause a run on the US$.

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