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Krugman Dementia Alert: Former Enron Consultant Says Jim Rogers "Has Been Absolutely Wrong About Everything"

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Sat, 11/06/2010 - 15:55 | 705477 Conrad Murray
Conrad Murray's picture

I read his nonsense earlier and the level of ignorance got me so worked up I sent an email and made a phone call to the Times.  If Olbermann can be fired for political contributions, surely this asshole should get the same treatment as his Statist brother for penning blatantly false jibberish.  I hope more will do the same.

http://www.nytimes.com/ref/membercenter/help/infoservdirectory.html

Sat, 11/06/2010 - 18:54 | 705701 macholatte
macholatte's picture

Something is patently wrong when guys like Olberman and Krugman actually have an audience, when some people take them seriously. It is then that the propaganda machine shows its ugly face.

Did you ever think that making a speech on economics is a lot like pissing down your leg? It seems hot to you, but it never does to anyone else.
Lyndon B. Johnson

Sat, 11/06/2010 - 23:18 | 705994 caconhma
caconhma's picture

It is important to understand who control [note the word "control"] the America mass media.

American people are completely brainwashed by Jewish propaganda [endlessly repeated lies portrayed as established facts and truth]. Krugman is just one of their prized propaganda speakers. Do you notice that Krugman refers to his own past statements as the unquestionable proof of his present insinuations and lies?

As for the Nobel prize selection committee credentials, the members are nothing more than corrupt demagogues and liars.

Sun, 11/07/2010 - 00:01 | 706049 frankTHE COIN
frankTHE COIN's picture

The passage about " Jewish Propaganda" just reveals you as a racist that could'nt wait to somehow try to put it in an intelligent conversation.

Sun, 11/07/2010 - 07:58 | 706308 thefatasswilly
thefatasswilly's picture

 . . . Except for the fact that almost all of the top executives who control the images on the television and movie screens are Jewish.

Pointing this out doesn't make him racist, you fucking dimwit. Trust me, I would know; I'm Chinese, the most racist race on the planet.

Shut the fuck up and sit down, you liberal fucktard. One of the main reasons America deteriorated was because of lack of racism. America is unbelievably pathetic nowadays: it's considered impolite and "racist" to point out someone's race. Incredible.

Sun, 11/07/2010 - 08:58 | 706356 More Critical T...
More Critical Thinking Wanted's picture

Well, I've read that Krugman piece, and here's what Jim Rogers said:

Well, capital has already been flowing into Asian economies, as you can see by the fact that they’re the world’s biggest creditors.

And Rogers was shockingly wrong about that. You cannot be the biggest creditor in the world if capital is flowing towards you ;-) You are the biggest creditor if capital flows away from you.

So exactly how and why does this prove "Krugman dementia", and not "Rogers dementia"?

Sun, 11/07/2010 - 09:28 | 706377 DavidC
DavidC's picture

Maybe I'm being slow or naive here, but the US, which has capital flying away from it (i.e. the QE money that seems to be going offshore in the flight to yield/ carry trade) is, as a result, the biggest creditor in the World? With debts of trillions of dollars?

Can't quite get my head round that one...

DavidC

Sun, 11/07/2010 - 10:31 | 706453 More Critical T...
More Critical Thinking Wanted's picture

You got it the wrong way around - just like Rogoff.

Being a debtor (like the US) means capital is flowing towards you - you are taking capital.

Being a creditor (like China) means capital is flowing away from you - you are offering capital.

A trillion dollars in US debt is generated the following way:

Investors paid a trillion dollars to the US Government, for which trillion dollars they got a shiny promise in form of: 'T-Bond: you get payment of this amount of money in 30 years, plus interest', from the US government, in form of a piece of paper. (or, more typically these days, in form of an electronic record.)

A trillion dollars moved into USD (flowed into the country, if it was bought by foreign investors) and bought T-Bonds (and other US Government debt instruments).

Sun, 11/07/2010 - 11:31 | 706525 tmosley
tmosley's picture

You're confusing goods, currency, and debts.

GOODS are flowing to AMerica in exchange for currency.  The currency is then flowing back to the US government in exchange for treasuries.  This is why China is the world's biggest creditor even as they are the world's largest exporter.

Sun, 11/07/2010 - 12:48 | 706635 Astute Investor
Astute Investor's picture

+1

I can't decide who is a bigger dolt - MCTW or Krugman.

A creditor provides capital to debtors.  However, you can't be a creditor unless a larger amount of capital (in the form of investment, trade, currency, etc.) flows to you (an INFLOW) previously.

Huge trade flows towards Asia (INFLOW).  They lend a portion of it (OUTFLOW) as a creditor to the US and debtor nations.  Just as Jim Rogers said: huge capital flowing towards Asia and they are the biggest creditor nations.

 

Sun, 11/07/2010 - 15:46 | 706910 gmrpeabody
gmrpeabody's picture

+100

I can't decide who is a bigger dolt - MCTW or Krugman.

Perhaps MCTW is one of his long time readers. Go figure.

 

 

 

Sun, 11/07/2010 - 09:47 | 706404 thefatasswilly
thefatasswilly's picture

Need capital to be a creditor. Thus, if capital is flowing to you, you can lend it out as credit. When you lend it out as credit, it is not flowing away from you; someone is merely borrowing it, and paying it back with interest.

Sun, 11/07/2010 - 10:35 | 706439 More Critical T...
More Critical Thinking Wanted's picture

Heh, guess how 'capital flow' to China looks like? It is exactly the same: someone is crediting money to China and is getting a promise in exchange (interest in bonds and a later payback of the principal, or shares in a chinese company, etc.). China does the same when it flows capital to the US: buys US Treasuries, shares in US companies, etc.

China being a net creditor means they loan out (much!) more than they get loaned in form of 'capital flow'. So net capital is flowing away from China :-)

The thing is, Rogers goofed there on a pretty basic level of logic, and it's no big deal (you can be rich without being smart) but I find it a bit weird why ZH has to character assassinate Krugman in such a dishonest way when Krugman is right, black and white.

Cannot argue with Krugman on the merits so it's the 'pounding on the table' phase of the argument? Weird.

Sun, 11/07/2010 - 12:55 | 706654 Astute Investor
Astute Investor's picture

Rogers referenced Asia, which is comprised of many sovereign nations, when he made his statement about capital flows, large creditors, etc.  Why are you using only China to support your fallacious argument?

Sun, 11/07/2010 - 10:48 | 706470 Dental Floss Tycoon
Dental Floss Tycoon's picture

Rogers is right.  Capital from commerce flows to Asia where they send it back to us by buying our treasuries and also buying up large parts of the world's resources.  The dollars that go to them are without strings attached when they flow back they come to us as debt.

 

I like China/Asias plan better than our's.

 

I will give you this: 30 year treasuries are a sucker bet.

Sun, 11/07/2010 - 10:57 | 706488 More Critical T...
More Critical Thinking Wanted's picture

 

Capital from commerce flows to Asia where they send it back to us by buying our treasuries and also buying up large parts of the world's resources.

This must be some weird type of arithmetics where the flow of capital towards China counts, but the flow of capital away from China only counts to declare China net creditor - but does not count when you try to determine where capital is flowing ;-)

You cannot have it both ways.

Rogers is right.

He is, in an alternate universe where you can ignore basic capital flow arithmetics. In our universe he is blatantly wrong.

Sun, 11/07/2010 - 11:36 | 706531 tmosley
tmosley's picture

If Krugman were right, he would be a wealthy trader.  But Rogers is the wealthy one.  QED.

Sun, 11/07/2010 - 13:09 | 706675 Windemup
Windemup's picture

You are obviously confused as to the difference between debtor and creditor.

Mon, 11/08/2010 - 09:33 | 707827 Punderoso
Punderoso's picture

You falsely assume the failed progressive American model in which one is propagandized to believe that production is only accomplished through excessive borrowing.  You do not have to borrow to produce, you can create production from investment of savings.  The flow of capital is going to be based on production, and since America is producing less and less and borrowing more and more we get to enjoy the s$&t hole we are creating.  The Chinese are saving and producing and have taken their economy from out of the s$&t hole to become a major economic force.  Maybe you should spend less of your time smearing Rogers and start paying attention to what he says, you might get a clue.

Sun, 11/07/2010 - 11:26 | 706519 Dburn
Dburn's picture

Last time I looked there was 1 Jew who controlled a media company out of all of them, notwithstanding Murdoch, who fucktards like the sniveling piece of shits that wrote the two posts about would claim he was Jewish, when he is decidedly not. You motherfuckers are bigots. There is no place in society for that. Stamp return to sender to the Chinese asshole and stamp stale cracker on the other one, put em in the back of a shipping container in the tropics and let them go on a round the world vacation and see what's left when the container is opened. Fucking walking talking microscopic Dildos.

Sun, 11/07/2010 - 15:56 | 706919 gmrpeabody
gmrpeabody's picture

Dburn..., I get a sense you're holding back. Go ahead, just get it out.

Mon, 11/08/2010 - 01:02 | 707624 tsx500
tsx500's picture

........so, how do u  REALLY  feel  ? ? ?

Sun, 11/07/2010 - 20:06 | 707211 frankTHE COIN
frankTHE COIN's picture

Fatasswilly, He wrote that america was Brainwashed by Jewish people You colon cancered asshole.

You cant interpret english correctly. Stop trying.

Sun, 11/07/2010 - 08:53 | 706349 israhole
israhole's picture

That accusation is getting old.  Tell us who you think owns the media?  Besides, they are the most racially aware on earth, just look at how you jumped to dispute a fact.

 

Sun, 11/07/2010 - 11:42 | 706540 tmosley
tmosley's picture

Post the names of the CEOs of all of the major companies.

I did this a while back for bankers and found hardly a Jew among them.  Wells Fargo was completely devoid of jews.

You should avoid the trap of collectivism.  It makes you look like a racist, and causes people to dismiss your valid views (ie that Israel is a nationalist socialist government that is very oppressive to the majority of its citizens, and a warmonger to boot).

Sun, 11/07/2010 - 10:01 | 706407 dehdhed
dehdhed's picture

The passage about " Jewish Propaganda" just reveals you as a racist that could'nt wait to somehow try to put it in an intelligent conversation.

please forgive my ignorance, but are jews a race?  i just thought it was a religion or a nation.   i'm going to assume they are a race and i'm misinformed and didn't realize it was an exclusive religion/nation lacking in diversity.   the statement made about racism makes about as much sense to me as someone getting called a racist for criticizing the catholic church.

please don't take offense to this, but in my observations it seems the ones flinging accusations of racism are very often the most obvious racists i've ever seen.   and it makes me wonder ....

Sun, 11/07/2010 - 11:46 | 706544 merehuman
merehuman's picture

frank reveals himself as one of the brainwashed! Jewish faces control the Media. That is a fact and true. Top positions in government and finance are Jews. Does presenting honest facts make someone a racist? I think not. It is the way it is and if you speak out too loud ..you dissappear . 

Are all jews bad or zionist ? NO . Just the ones in suits and power.

Sun, 11/07/2010 - 07:45 | 706303 nobita
nobita's picture

the nobel committee is not corrupt demagogues and liars. they are just pretty stupid and fell hook, line and sinker for the fraud that is Obama.

the reason Gore, Krugman and Obama has won prizes is because everyone in scandinavia really hated George Bush more than you can imagine.

well now the prize is a joke, a source of great pride for us swedes turned to shit. sad really.

Sun, 11/07/2010 - 08:38 | 706327 Popo
Popo's picture

KRUGMAN DISCREDITED:

FYI -- for anyone who missed the fun:  Krugman has already been completely discredited on his own blog. The fireworks have mostly died down now that the teacher has gone into overdrive moderating his blog comments, but here's a recap of what went down a couple months ago:

http://www.americanthinker.com/2010/08/paul_krugman_gives_up_1.html

In a nutshell: Krugman made the mistake of entering into a debate with his blog-commenters, and got completely destroyed intellectually. The whole thing deteriorated into laughs and guffaws. Krugman has been discredited. Period.

Sun, 11/07/2010 - 10:08 | 706430 nmewn
nmewn's picture
"Paul Krugman has spent his career as a pundit advocating that government bureaucrats and political process replace markets. He knows that there is a large literature that says that this is a bad idea. That literature is transparently relevant to Krugman's only policy proposal. And yet Krugman has not read it...and admits that he has not read it, without embarrassment.

 

By July, Krugman had lost his "Battle of the Blog." On July 23, Latrina commented, "Who is this Sean from Florida? He takes everything that [the] Professor [says] and shreds it, piece by piece. He shouldn't be allowed to post his comments on this blog since he seems to be winning all the debates. We progressives need to stick together and embellish our talking points without someone from the outside pointing out fallacies in our ideology."

ROTFLMAO!!!

Those damn Fla. Crackers are at it again ;-)

Sun, 11/07/2010 - 12:04 | 706571 Eternal Student
Eternal Student's picture

+1. That's really funny.

Sun, 11/07/2010 - 22:08 | 707373 New_Meat
New_Meat's picture

dude-we need the link so we can pile on-Ned

Mon, 11/08/2010 - 07:40 | 707739 nmewn
nmewn's picture

It's from Popo's above...happened back in the summer. Krugman & his wife no doubt, are now reduced to monitoring his blog 24/7 and deleting non-party views.

Very...what's the word I'm looking for...oh yeah...FASCIST! ;-)

http://www.americanthinker.com/2010/08/paul_krugman_gives_up_1.html

Sat, 11/06/2010 - 19:18 | 705728 IQ 145
IQ 145's picture

 Good for you. You're right. Krugman really is mind-boggling.

Sat, 11/06/2010 - 20:31 | 705818 maddy10
maddy10's picture

Feel sorry for krugman-Poor guy doesn't know the difference between spending and investment.

He simply ignores the things happening around him

Asia has been investing a third in dollars but the rest in useful infrastructure, factories and new technology.

What does US have to show for nearly 40 trillion debt[public+private+individual] of last 10 years- Big houses, shiny cars and lots of smoke

[sic] he is so predictable-his next blog'll be-"I told ya QE2 will fail coz it is too small"

Sun, 11/07/2010 - 14:07 | 706748 beanieville
beanieville's picture

Actually, you can't really say Jim Rogers is right just because gold is going higher.  Just about every asset class in the stock market is also moving higher.  Let's not pick and choose to support our contentions.

 

Jim Rogers said the economy would collapse this year.  He said the same thing last year after the march lows of 2009.  He was thoroughly wrong.

 

He's a smart guy, that's a given.  But smart plus wrong is still wrong.

http://abetterwaytotradestocks.blogspot.com/2010/11/smart-wrong-wrong.html

Sat, 11/06/2010 - 19:19 | 705730 Clayton Bigsby
Clayton Bigsby's picture

I think it would be really awesome if Barrack appointed Krugman the next head of the CEA.  Then I would know for sure that the end is near, sell all my shit, and prepare to meet the Mayan gods...

Sat, 11/06/2010 - 21:32 | 705886 MsCreant
MsCreant's picture

But otherwise, you are not sure we are screwed, or you have hope, or...

Sun, 11/07/2010 - 01:09 | 706194 chopper read
chopper read's picture

hey, Conrad.  i have a sense that you are a relatively young individual.  however, your level of commitment and competence is immense.  keep talking with your friends.  i admire how you think.  you're a beacon of truth.  props to you.  

 

Sun, 11/07/2010 - 10:31 | 706456 Al Gorerhythm
Al Gorerhythm's picture

Conrad, don't you realize that they know. It's not too hard to understand that these guys are sociopaths. They know; they just don't give a fuck, about you. The only alternative is that they are the true believers, Hitler in the bunker, Comical Ali in Baghdad, Bush on the aircraft carrier, "Mission Accomplished".
Either way, they are madmen and this needs to be more than ignored. Look what they have done to our once great country. We relied on our office bearers to guide us and uphold the constitution but they have held office under false pretenses. After Nov 3, nothing will change. Hydra lives and breathes. Cut off one head and the other grows.

Sat, 11/06/2010 - 15:58 | 705482 damage
damage's picture

Therefore, we hope this is the last time we discuss the pathological failure that is Paul Krugman.

God, I wish.

Sat, 11/06/2010 - 16:20 | 705502 Lets Hang Parliament
Lets Hang Parliament's picture

Maybe Krugman should go on a round the world motor bike tour too. That would keep him off our screens for a while!
The Mongolians love goat meat so maybe he wouldn't come back...ever! Maaaarvellous!

Sat, 11/06/2010 - 20:22 | 705808 Printfaster
Printfaster's picture

If this is true:

Therefore, we hope this is the last time we discuss the pathological failure that is Paul Krugman.

If Krugman is truly a failure, then we are doomed, since in government failures are always promoted until they die or retire.

 

 

 

 

Sun, 11/07/2010 - 09:13 | 706366 nmewn
nmewn's picture

Krugman cannot be allowed to pass quietly into that good night.

He has shilled for too long and propagandized too much to not have his place in the Gallery of Quackery.

Sat, 11/06/2010 - 16:04 | 705487 Cheyenne
Cheyenne's picture

Paul Krugman, what a jackass.

Sat, 11/06/2010 - 17:09 | 705548 DoChenRollingBearing
DoChenRollingBearing's picture

Jimmy Rogers (and all of us really) are proof that no one can be right 100% of the time.

Paul Krugman is proof that one can be WRONG 100% of the time.

Sat, 11/06/2010 - 17:22 | 705557 Cheyenne
Cheyenne's picture

Thanks for having the balls to say that shit out loud. I agree.

Sun, 11/07/2010 - 05:09 | 706261 The Navigator
The Navigator's picture

I also Ag ree. Tell us about your vacation to the South Pacific when you have time. Good to see you back DCRB.

Sat, 11/06/2010 - 18:11 | 705632 DosZap
DosZap's picture

Do,

bro, look who the maggot is surrounded by.

Weekend(Years at Bernies) Nanke, and Timothy Geiiiithner.

They (if ONE had the power),maybe Paul will get a shot, SHOW this entire segment on a Big Screen, to ALL members of the House & Senate.

That would maybe wake some of them up......20-50?

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