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MeSSaGe To Mr KRuGMaN...
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I have a tungsten medal and you don't!
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Krugman is loaded with flair
His theories we're best to beware
Our troubles began
By kicking the can
This King is undoubtedly bare
The Limerick King
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Paul Vincent Van Goof
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Krugman's displaying his coin
It's helping to highlight his groin
This Fruit of the Loom
Is the Father of Doom
Spawn of the Keynesian loin
The Limerick King
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Krugman is looking quite buff
His growth comes from hormones and stuff
It makes him feel great
His muscles inflate
Now life without "Juice" is too tough
The Limerick King
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Krugman - idiocy in clerisy! What an ironically common occurence!
http://www.guardian.co.uk/politics/2013/apr/18/uncovered-error-george-os...
Blaming in on excel spreadsheets, lol.
To everyone that's familiar with curve fitting, signal processing, mathematical modeling, regression and the likes, this is the science of economics:
http://www.nextnewdeal.net/rortybomb/researchers-finally-replicated-rein...
not meant to be taken as an inch statement.
money, debt, gdp it's all the same thing in our system
which is the basic fact that must be presumed to
be irrelevant at the start so you get the conclusion
that debts don't matter. gdp is a function of debt
because debt is money and gdp is measured in debt
distributions. so there ya go, it is all a big freakin
scam wrapped up in ignorance of the basic unit of debt.
that the central banks buy the bonds and return most of the
yield and principle back to the treasury makes it seem to work,
and it does work to make everyone outside the loop a debt serf
living on fumes while the systemic players drown in fresh
liquidity which never seems to be enough.....debt-money.
it is a set up. like this ...
http://tradewithdave.com/?p=16294
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http://landing.newsinc.com/shared/video.html?freewheel=90051&sitesection...
The brother bombers suspects mother is interviewed on Russia Today.
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the mother says her son was counseled by the fbi , her boys were set up she says.
the security exercise method strikes again?
And a rebuttal
http://www.nextnewdeal.net/rortybomb/guest-post-reinhartrogoff-and-growt...
krugman is that u?
When you get done reading all this PHD blowhard ego cock waving dribble I'll explain it in simple terms us plebians can understand.
When the economy goes south, the government spends more to keep people from voting out said politicians. Economy contracts, government grows. People lack a sense of urgency to do anything as long as the free shit keeps coming, politicians have no incentive to fix anything. Gap grows wider. It creates a destructive feedback loop.
Now you got the politicians trying to hide the economy contracting by have the BS rig the unemployment and economic data indicators which is another consequence of the feedback loop.
Easily worth the $T coin admission I paid to get in here!
shopped 6 ways to sunday.
http://patdollard.com/wp-content/uploads/2013/04/382242-boston-marathon-...
http://fotoforensics.com/analysis.php?id=53fef475a73759696a9120c3c48ec3c...
http://www.veteranstoday.com/2013/04/16/boston-bombs-the-fed-goes-termin...
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Amerika master of the inside-job - boston explosions
http://www.youtube.com/watch?v=T1GSIkifelk
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terminate the down link to the internet.
some down time ....
media trying to enter ..
midnight sun.
train
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Graham Parker - Watch The Moon Come Down Live HQ
http://www.youtube.com/watch?v=bWpj8gYeDWI
oh here we go there is
movement and flood lights.
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last words I heard,
"shut him down, .. no movement."
commercial break.
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back on broadcast. " negative movement "
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...
"negotiator?"
may be too late.
no trial or investigation, the city has spent too
much already, too much fiat money, huh?
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commercial break.
another f..ing boating accident mo fo !
Fact or Fiction….stranger?
April 15, 2013
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http://aadivaahan.wordpress.com/2013/04/15/fact-or-fiction-stranger/
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"we have movement in the boat." MA Rt. 9 Window Cam
19:40 est.
http://www.ustream.tv/channel/ma-rt-9-window-cam
Like the seventies.
Tight crotch is ‘splaing to Lieutenant Columbo how he got a trillion dollar coin which belonged to murder victim.
Krugman is off to the pub tonight, ay?
when I was a kid I had a friend who was published in the local
newspaper when he wrote ...
" what has the world come to when a kid finds a penny on the street
and can't afford a piece of bubble gum." s.a.
as the price went from one cent to two cents.
that was the second or third important economic lesson I learned on
this planet.
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here some later developments .....
Jim Willie interview April 15 2013 about the metal smash down - Real physical
http://www.youtube.com/watch?v=c5rZlkoDZKQ
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» Update to the Update: The Attack on Gold — Paul Craig Roberts
By: pcr3| April 16, 2013
http://www.paulcraigroberts.org/
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minute 12.00.
[KR411] Keiser Report: Media Moron Mockery
http://maxkeiser.com/2013/02/26/kr411-keiser-report-media-moron-mockery/
".. Professor Antal Fekete, about the gold basis – cash versus the nearest futures
contract and why that the cash price for gold is never reported is by design. They also
discuss gold repatriation from Germany as a trial balloon, to see how much demand there
is for cash gold and how it is that permanent backwardation means internal bleeding in
the monetary system.
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minute 12 again ...
[KR412] Keiser Report: Slime Mold For President!
http://maxkeiser.com/2013/03/01/kr412-keiser-report-slime-mold-for-presi...
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The Secret World Of Gold (Documentary)
http://news.goldseek.com/GoldSeek/1366397576.php
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MeSSaGe To Mr KRuGMaN...
williambanzai7's pictureSubmitted by williambanzai7 on 04/19/2013
http://www.zerohedge.com/contributed/2013-04-19/message-mr-krugman
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then one might look here ...
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To Be, or Not to Be...
"Man is made by his belief. As he believes, so he is."
Johann Wolfgang von Goethe
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http://verbewarp.blogspot.com/
Krugman...lol...platinum colored Yugo's parked at the Fed = sovereign wealth...someones broken windows = demand for goods & services...an alien invasion destroying half the planet = growth potential...and supplying subsidied shovels for digging & refilling holes for no particular reason = an example of the efficient methods & calculations of government central planners trained in the field of socio-economics at Princeton & Hahhhvahd.
I think I need a drink so I can puke properly.
Love the Van Goof!
Hey, Van Gogh was one of the most honest human being who has ever lived. Don't smear Van Gogh's work by having Krugman's face on it.
You sound like s school teacher
thanks. now all I see is krugman's face whenever I look at Van Gogh's portrait. I thought you 're on our side. What did I do to deserve that?
Fire up the bong and stare at Starry Night for the rest of the evening. You'll make it fine.
Nobel + Economics + Krugman = $1T Platinum Coin
Nobel + Peace + Obama = Kill List
Therefore, Nobel = No Credibility
Hey ButtKrug, Where's Beavanke?
That's some funny stuff Banzai. Limerick King you are brilliant as always.
Give a cunt ( krookman) a nobel and his verbal BS is supposed to carry weight. Oh no it doesn't!
Yesterday on Z/H ' what did O'bullshit say behind closed doors last thursday?' ( to the banksters )
This 2 bob ( cent ) lying cunt who came to prominence on a ticket of More transparency ( gotta laugh or you will cry ) a more equal society And less Killing has fucked us one and all. The question is Not what he said behind said closed doors to the scum banksters but rather WHY oh fucking WHY is he entertaining these fuckers And in Secret! In plain talk this is Adding Insult to Injury. There is No greater evidence of his contempt for the working man than this treacherous Act.
Last the EU/ IMF were successful in denying Greek citizens to view the fraudulent terms and conditions of Goldmans deal with their government. Analogy: if i toby into my bank with my 20/50 mortgage deposit and am told Yes You Can BUT we cannot show you the Terms, 'can i dig it?'
He always strikes me as nervous and unsure of himself. Like a man who was awaded the Nobel prize and he didn't deserve it, but must carry on the pretence because his reputation and livelyhood depend on it.
Neurotic.
......and perhaps a little psychotic.
Like a man who was awaded the Nobel prize and he didn't deserve it
I'm confused....are we talking about Krugman or Obama here?
Methinks your creative arts skills show the Weasel too much respect Billio.
Fuck You Krugman. Damn near forgot to say it until William poked my memory.
Is that Ahnold?
I'm guessing Steve Reeves.
You have forever ruined Star Trek for me!
"Nomad, execute your primary function!"
I wager 30 Quatloos on the FRN!
The Keynesian fiat debt bomb tail-chasing toilet swirl Economics Professor meets real people all over the world buying gold and silver.
Krugman the bearded potato, a starchy brain supposedly posessing intelligence, who prescribes debt for a lack of money.
The Van Gogh impression is priceless!
Latest Banzai7 Fine Print:
Commemorating a boatload of foolish Keynesian hubris.
For inquiries: banzai7institute@gmail.com
Your generous support is always appreciated.
WB7
can you cover the sides of the hull with scrolling electronic message boards (like Times Square) which constantly repeat the anecdotal message. (them put it in MOMA, and make a million selling it some Wall Street investment bankers)
I am sure I can do that if you will finance the prototype. It would be reprogrammable using a universal TV remore.
what about animated GIF or morphing technique ? http://www.webalice.it/sissunchi/buongiorno2.gif
I know it's only poss on screen.
When selling your prints, make sure that any limericks are included.
that 1954 body builder (analogy economy) wouldn't get an honorable mention today, and his speedo is stuffed with old fiat currency, how gauche. now we have enzyte. the more you try to knock this stuff wmb7, the more you demonstrate how much progress we have made in both physical developement and in economic policy. we should probably join them. i am going to go buy some steroids and invest in the stock market, be back later.
Krugman’s a master, of sorts,
Of Ad Hominem childish retorts,
Delusional he,
Thinks no-one can see,
How much he is stuffing his shorts.
Egad! Looks like he’s got an entire Bloomberg in there!
Are you sure he just doesn't have his diaper on backwards?
now they make incontinence products which add no bulk to the users trouser lines. who knew fiat currency was that absorbent?
"..Markets for the monetary metals under fiat money
Here are the relevant facts:
(1) The U.S. government defaulted on its obligation to pay its short-term dollar debt to foreign governments and central banks in gold at a fixed rate, as confirmed by several international treaties and by the solemn pledges of several sitting presidents, on August 15, 1971. Subsequently it has been bankrolling a chorus of servile academic cheer-leaders and other sycophants to shout from the roof-top that the gold standard was a ‘barbarous relic’ anyway, quite ripe to be gotten rid of – in an effort to cover up the shame of fraudulent default (fraudulent because the U.S. did have the gold and could have lived up to its international obligations).
(2) Thus the U.S. confiscated some of the gold belonging to institutions outside its own jurisdiction, but could not confiscate all of it. University economics departments and research institutions have failed to investigate what gold at large will do in the long run. They just assumed that it will be business as usual without gold in eternity. Well, it didn’t quite turn out that way. Speculators soon started trading gold futures, first in Canada, then in 1975 in the U.S. as well. No universities and think-tanks showed an interest in studying gold futures trading and its long-run consequences. Why, gold has been reduced to
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the status of frozen pork bellies. We know all that is to be known about trading
frozen pork bellies, don’t we? Supply and demand, right? And when push comes
to shove, it is easier to increase the supply of paper gold than that of frozen pork
bellies, isn’t it? (With due apologies to the late Fritz Machlup of Princeton
University for this interpretation of his theory of gold futures trading.) We may
bypass the question whether our institutions ignored problems connected with
futures trading of monetary metals on their own volition, or whether they did so
under duress. As it turned out two scores of years later, the failure to study the
consequences of the so-called demonetization of gold (euphemism for highway
robbery) has caused an unprecedented world disaster: the disintegration of the
world’s payments system that is now unfolding before our very eyes.
(3) A scientific inquiry would have shown back in the 1970’s that the gold
basis (defined as the difference between the nearby futures price and the price
for immediate delivery of gold) would be robust, in fact, it would be at its
maximum (equal to the carrying charge, or opportunity cost of holding gold).
But soon it would start its relentless decline all the way to zero and beyond. A
negative gold basis, a condition known as backwardation of gold, would create
an extremely unstable situation in international finance because it meant risk
free profits for holders of gold. Knowledgeable market participants realize that
persistently falling basis means increasing scarcity which, in the case of gold, is
not and cannot be alleviated by current output from the mines. Output ultimately
proves no match for the mass movement of gold going into hiding, first
gradually, eventually reaching crescendo when the threat of permanent gold
backwardation starts looming large. At that point all deliverable supplies of
physical gold would be gobbled up by gold hoarding. In case of monetary
metals, in contrast with all other commodities, high and increasing prices may
not bring out new supply. Rather, they might make supply shrink. Monetary
metals are exempt from the law of supply and demand.
Under permanent backwardation, as no gold were offered for sale at any
price, the ‘price of gold’ would become a vacuous concept. Gold, silver and,
soon enough, all other highly marketable goods would only be available through
barter. In other words, paper money as we know it would simply cease to
function. We cannot fathom how our complex world economy could operate
under such circumstances. One thing was certain, though: the world economy
would contract in a way that would make the contraction in the 1930’s appear as
a blip on the screen.
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(4) All bubbles, all currency and financial crises of the past forty years are direct or indirect consequences of the vanishing gold basis – whether we admit it or not. A few years ago Professor Robert Mundell of Columbia University invited me to attend his annual seminar at Santa Colomba, with most of the leading monetary scientist in attendance. I circulated a statement warning of the danger of permanent gold backwardation and how it would adversely affect the world economy.
I argued that permanent backwardation of gold would be a watershed-event. As long as the gold futures markets are open, U.S. Treasury debt is still gold-convertible (albeit at a fluctuating rate, never mind that the rate is minuscule). But no sooner had gold futures trading stopped after the advent of permanent backwardation than gold was no longer to be had in exchange for U.S. Treasury debt. The entire outstanding debt of the U.S. was worth not one ounce of gold. Not one gram of it. It is insane to pretend that this would make no difference in world trade, as pretended by official doctrine. This event would mark the transition from monetary economy to barter economy.
My missive did not provoke a single rejoinder. It was simply ignored. All the same, I have reasons to believe that people in the U.S. Treasury and the Federal Reserve started to listen and they took a crash course on the problem of vanishing gold basis and the threat of permanent gold backwardation.
(5) To summarize, in forcing the world off the gold standard in 1971 the U.S. government created a many-headed Hydra. The problem was compounded by the apparent gag order, muzzling research on the gold basis – as a face-saving exercise to cover up the fact of default.
Gold is not the same as frozen pork bellies after all
In waking up too late that there was a problem after gold futures markets have been flirting with backwardation for a year or so, officialdom was forced to act. Act it did in a typically haphazard fashion. A few days ago, on April 12 and 15 the paper gold market was demoralized by a ferocious attack on the lofty gold price. This in and of itself is proof that Bernanke is fully aware that permanent gold backwardation is imminent, and that it will create and unmanageable situation. It’s got to be stopped in its track at all hazards.
Well, well, well. Gold is not the same as frozen pork bellies after all. The Hydra is not taking it lying down. The kid gloves have finally come off.
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Bernanke is trying to stop gold backwardation by selling unlimited amount of gold futures contracts through his stooges, the bullion banks. He is underwriting losses they are certain to suffer in due course. We can take it for granted that they haven’t got the gold to make delivery on their contracts. In fact, delivery of gold will be suspended under the force majeure clause. Short positions will have to be settled in cash, to be made available by the Fed’s printing presses. Gold futures trading will be a thing of the past.
Bernanke and columnist Paul Krugman, formerly his subaltern colleague at Princeton don’t understand that the issue is not the price of gold. The issue is backwardation or contango. In trying to wrestle the gold price to the ground the Fed makes “the last contango in Washington”* an accomplished fact.
From the frying pan into the fire
Ostensibly a lower gold price would solve the problem Bernanke has. Demoralized gold bugs would be forced out of their holdings through margin calls. Disillusioned investors would shun gold. This would make physical gold available to rescue the strapped gold futures market.
In fact, however, a lower gold price is making the problem more intractable, not less. The Fed is diving from the frying pan into the fire. This is the point missed by almost all observers and market analysts. They ignore the underlying flight into physical gold that continues unabated, in spite of (or, better still, because of) the panic in the paper gold market. The Fed’s intervention in bankrolling short interest is going to back-fire, for the following simple reason. The Fed’s strategy is inherently contradictory. A lower price for paper gold makes it easier, not harder, to demand delivery on maturing futures contracts.
The more paper gold Bernanke sells, the lower the cost of acquiring physical gold in exchange for paper gold becomes. The price of the nearby futures contract will drop to hitherto unimaginable depths, relative to the cash price, making backwardation worse, not better. Ultimately this will make backwardation irreversible. Welcome to the world of permanent gold backwardation.
From what hole does the evil deflationary wind blow?
Academia and the financial press have utterly failed to recognize the relevance of gold backwardation as regards deflation. They might fret about hyperinflation as a result of unbridled money-printing (euphemism for the monetization of
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government debt). Yet the real danger is not on the inflationary but on the deflationary front as realized even by Krugman – while he is perfectly clueless on the question from what hole the evil deflationary wind blows (other than conservative wishful thinking).
Well, I can pinpoint the location of the hole to within yards for the benefit of Krugman. It is on Constitution Avenue, in Washington, D.C. The evil deflationary wind is blowing from the building of Federal Reserve Board.
If Bernanke thought that his attacks on the gold price would stem deflation, well, his efforts were counter-productive, to put it mildly. They have, in fact, made the flight into physical gold accelerate. Permanent backwardation of gold, and its concomitant, the re-invention of barter – the ultimate in deflation – will be the result.
There is no reason to fear that the Fed is pushing the world into hyper-inflation. In fighting the gold price the Fed unwittingly pushes the world into hyper-deflation.
All the same, it is destroying the dollar and the international monetary and payments system.
April 18, 2013." a.e.f.
apologies for length of post, feel free to scrap or dismiss it.
Hey brother, that is a long one but very good post. We are not all James Joyce, and could use some paragraphs and spacing. Just sayin.