MarketWatch On Stockholm's Shocking Lapse In Not Considering Obama For The Economics Prize
LONDON (MarketWatch) -- In a decision as shocking as Friday's surprise peace prize win, President Obama failed to win the Nobel Memorial Prize in Economic Sciences Monday.
While few observers think Obama has done anything for world peace in the nearly nine months he's been in office, the same clearly can't be said for economics.
The president has worked tirelessly since even before his inauguration to wrest control of the U.S. economy from failed free markets, and the evil CEOs who profit from them, and to turn it over to wise, fair and benevolent bureaucrats.
From his $787 billion stimulus package, to the cap and tax bill, to the seizures of General Motors and Chrysler, to the un-dead healthcare "reform" act, Obama has dominated the U.S., and therefore the global, economy as few figures have in recent years.
Yet the Nobel panel chose instead to award the prize to two obscure academics, -- Elinor Ostrom and Oliver Williamson -- one noted for her work on managing collective resources, and the other for his work on transaction costs. See full story.
Other surprise losers include celebrity non-economist filmmaker Michael Moore, U.S. Treasury Secretary Timothy Geithner, and Larry Summers, head of the U.S. national economic council.
It is unclear whether the president will now refuse his peace prize in protest against the obvious slight to his real achievements this year.
(2 votes)
on Mon, 10/12/2009 - 08:24
#96361
HAHAHAHAHAHAHA; the whole fucking world is " The Onion " article. Gotta love it.
on Mon, 10/12/2009 - 08:30
#96364
Well they gave him the nobel peace prize award for "something he might do", i guess they don't think he 'might' do anything for the economy :)
on Mon, 10/12/2009 - 08:32
#96366
I wondered if you guys would catch this, I figured it was probably ZH material. Good pick!
on Mon, 10/12/2009 - 08:39
#96372
As near as I can tell the Noble Prize in Economics just went to somebody who proved Home Owner's Association can keep the parkways mowed and a guy that thinks we should privatize the courts because the bribes can be more direct that way, because you know nothing else was happening in the economy lately:
“Ostrom has demonstrated how common property can be successfully managed by user associations,” while Williamson “developed a theory where business firms serve as structures for conflict resolution,” the Royal Swedish Academy of Sciences, said today in Stockholm. They will share 10 million Swedish kronor ($1.4 million)."
on Mon, 10/12/2009 - 08:41
#96374
The Committee could be waiting to see if the O-man and his posse can really put the final nails in the capitalist coffin. Perhaps he will be renominated if successful?
on Mon, 10/12/2009 - 08:43
#96377
hey, I say award me Havard MBA, I would say I do not deserve it but rather its call for action, so I ACCEPT it.
Doubt if any employer would give pay cheque in start of the month for the month's work, saying it as call for action. haha
Hugo Chavez said BO do not deserve it, and so does Iran FMinistry.
The rivals should be considered as best critics.
Has anyone noticed? There were only 2 nominations for the peace prize, 1) Nicholas Sarkozy, 2) Barack Obama.
How hilarious this is!
on Mon, 10/12/2009 - 09:38
#96451
"Has anyone noticed? There were only 2 nominations for the peace prize, 1) Nicholas Sarkozy, 2) Barack Obama."
Dumb and dumber.
Do you think the committee flipped a coin and Obama lost?
on Mon, 10/12/2009 - 08:44
#96379
Market76 made this observation last week - http://market76.com/blog/?p=1035
In reference to Weisenthal's statement that: "Now Obama can sit down at the negotiating table with Ahmedinijad or Benjamin Netanyahu, and slap his Nobel Prize on the table and say: 'now deal,'" m76 wrote, "Maybe if Obama won the Economics Nobel, he could sit across a table from Lloyd Blankfein and demand Wall Street return some of its ill-gotten gains (for instance? Forcing a change in mark-to-market after using it to foreclose on others' assets. Enough, "Wall Street just played by the rules," BS)."
Just sayin...
on Mon, 10/12/2009 - 08:46
#96382
Yea, Obama sweeps Nobel Awards taking home an award for each category. Physics, chemistry, physiology & medicine, literature, peace and economics.
Obama family initiates name change to Nobel-Obama to commemorate occasion.
on Mon, 10/12/2009 - 11:19
#96555
I wouldn't be too surprised if it happens.
on Mon, 10/12/2009 - 08:48
#96387
Keep your eyes open for a surprise Cy Young nomination this year. I just feel it coming.
on Mon, 10/12/2009 - 10:45
#96521
Good one!
on Mon, 10/12/2009 - 08:55
#96391
what is more amazing is that this article is not from the Onion but actually from MarketWatch -
http://www.marketwatch.com/story/obama-fails-to-win-nobel-prize-in-econo...
on Mon, 10/12/2009 - 12:36
#96638
This has moved from bizarre to absurd. To think any so-called financial web site would consider writing blank checks with no money in the bank and running a 50% federal deficit from here to eternity is worthy of a Nobel in Economics has me shaking my head in total disbelief.
I knew those acid trips in the 60's would eventually come back to haunt me. Where's Timothy Leary when you need him?
on Mon, 10/12/2009 - 08:56
#96392
Those whom the gods would destroy, first they drive mad.
on Mon, 10/12/2009 - 08:57
#96398
You'll have to forgive them, they are busy dealing with the closure of the $8b Dutch bank DSB today.
http://online.wsj.com/article/BT-CO-20091012-705445.html
on Mon, 10/12/2009 - 08:58
#96399
U.S. President Barack Obama has pledged to a gay rights group that he will repeal the law that keeps homosexuals from serving openly in the U.S. military.
Suck it, baahahahhaha
on Mon, 10/12/2009 - 08:58
#96401
Latest News
London (AP)
2012 Olympic Games are cancelled, informed us the IOC president Jacques Rogue,and added; due to the fact that, surely, Barack Obama will win in every discipline. The medals ceremony will be held in the WH backyard.
Rahm: " Fuck you ! "
on Mon, 10/12/2009 - 09:02
#96406
HA HA, good joke...pardon me I am going to be sick just now...
on Mon, 10/12/2009 - 09:07
#96411
http://www.ritholtz.com/blog/2009/10/single-best-investment-in-history-258449/
THE SINGLE BEST INVESTMENT IN HISTORY = 258,499%
The single best investment — in terms of greatest return on invested dollars — has been the lobbying efforts of the major banks and finance firms.
They spent $114.2 million dollars in contributions toward the 2008 election, according to the the nonpartisan Center for Responsive Politics. The companies that have been awarded taxpayers’ money from Congress’s bailout bill spent $77 million on lobbying and $37 million on federal campaign contributions, the Center finds.
These firms political activities have yielded them $295.2 billion from Recapitalization, TARP and other assorted bailouts.
The return on investment: 258,449 percent.
on Mon, 10/12/2009 - 10:10
#96480
I sort of knew in the back of my head that the return on the lobbying dollar would be phenomenal but this exceeds the most outlandish thought I had.
Of course, truth is always stranger than fiction.
What's even stranger isn't that the average person IS NOT rioting in the streets but that they are too frightened to even write a letter to their congressperson or even a letter to the editor.
I made it my goal to ask 10 people this weekend how they felt about the thieving going on in DC. All 10 didn't even challenge me on the premise that there was thieving going on in DC. All 10 expressed anger or dissatisfaction. I then asked all 10 if they would write a "real" hand written letter to their congressperson or the editor of the local paper.
I can not even describe the wide eyed incredulous looks I got for even asking such a crazy question. It wasn't even a question of a letter being effective. The people I asked simply felt they would be stepping out of line if they did so. Three people told me they didn't want to wind up on the "no fly list" because of their letter writing.
Rest assured, the sheeple might be a bit restless but they are far from fighting back. Of course, living within 40 miles of Washington DC might have something to do with the zombies I talked to. This is why any protest in DC needs to have people bused in because at least some of the locals want nothing to do with it.
on Mon, 10/12/2009 - 09:07
#96414
I like the guy, but his only accomplishment thus far? Killing that fly on his arm duing an interview...
on Mon, 10/12/2009 - 09:12
#96423
and a beer with a cop and a professor.
on Mon, 10/12/2009 - 09:12
#96421
Ha, Ha....I think going to be sick, just a bit now...oopps.
on Mon, 10/12/2009 - 09:22
#96433
crzyhun, if this is a common occurrence when dealing with the phenOmenOn I wish you All The Best in your quest for creative adaptation.
on Mon, 10/12/2009 - 09:23
#96429
When the whole world laughs at the process that holds forth the hope that the dreaded brown spots that bedevil lawn care have ascended to the apex of recognition and achievement in the world of learning & understanding I dare say we are closer to success in the race to the bottom than anyone realized.
Lizzy, your facts, timing and delivery are simply awesome.
on Mon, 10/12/2009 - 09:23
#96435
The Nobel committee is offering cash and prizes to influence his policy decisions. Is it even legal for him to accept such a bribe?
on Mon, 10/12/2009 - 09:45
#96459
"I'm sorry Mr. Keynes could not be here this evening, but I will accept the award on his baehalf."
on Mon, 10/12/2009 - 10:05
#96476
Perhaps the US should give itself a Darwin Award for electing the new "Brain Trust"
on Mon, 10/12/2009 - 12:26
#96622
exactly
on Mon, 10/12/2009 - 11:16
#96553
Thanks to Obama (and Stockholm), the Nobel peace prize is now the butt of all jokes. I wonder if the same fate - as it must - awaits all Nobel prizes in the future. I don't think the peace prize will have the same weight/prestige (even in the eyes of the MSM public) - ever again.
on Mon, 10/12/2009 - 14:32
#96743
Nothing new, Gordo.
The peace prize has been a clown car for a long time. This is actually less embarrassing for them than that time they awarded it to Jimmuh Carter and then had to postpone the acceptance speech because Carter's lips had a previously-scheduled engagement with Yasser Arafat's ass.
on Mon, 10/12/2009 - 15:28
#96799
Gordon,
The Nobel peace prize is awarded by Norwegians out of Oslo and as we Swedes know Norwegians are not reliable and suffer bad judgment
Stockholm
on Mon, 10/12/2009 - 12:36
#96637
I was rooting for Jimmy Cayne and Dick Fuld.
I'm always wrong.
on Mon, 10/12/2009 - 13:35
#96693
LOL @ free markets
on Mon, 10/12/2009 - 14:18
#96728
If anyone is possibly interested in the truth: Nobel prizes are awarded for achievents in previous year only.
That would make it prize for Obamas achievemnts in 2008. NPP is awarded to person(s) that contributed the most to international peace( in 2008).
That makes it worthy of a prize just by colored person winning the presidency in USA, raising the likability of USA in global opinion from 7th to 1st place in the world. Since USA dictates UN security council that causes the UN strenghth in peace negotiations that much more effective when Obama decided to use UN as it was meant to be a peace maker, opposite to what Bush did- using UN to start wars.
USA politics is same as driving, for rewerse select Rs, for forward select Ds - Tom Harkin
on Mon, 10/12/2009 - 18:55
#97027
Exhibit A - U.S. public education system victim...AKA Kool-aid sipper...
on Mon, 10/12/2009 - 16:58
#96908
Spare me! Peacemaker!? This Obama sent over 20,000 of our young me to rape and kill in Afghanistan and then return traumatized and insane! He is waging a proxy war in Pakistan, complete with its own raping and murdering. He doesn't deserve gold on his chest for what he is doing to innocent people, but another soft metal somewhere else, if you get my drift... War is peace, freedom is slavery, ignorance is strength!
on Mon, 10/12/2009 - 17:26
#96934
The peace award is handled by the norwegian parliament.
And the economy award is not a nobel price, it was implemented to his memory by the Swedish Central Bank to lend their misdirected keynesian award some prestige.
I bet Alfred Nobel would be rotating in his grave if he knew what follies the caretakers of his last wish was doing to his legacy...
// Swede
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