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Art Cashin On Becky Quick's Roast Of Paul Krugman

Tyler Durden's picture


Define headline heaven? Any time you can gratuitoulsy insert the names Art Cashin, Becky Quick and Paul Krugman in the same title. Like in this case. HERE'S WHAT YOU NEED TO KNOW.

From UBS Finacial Services:

Can I Get An "Amen!" Out There – Becky Quick, who brightens up mornings at CNBC "Squawkbox" got mad enough to take on Paul Krugman in a terrific piece on Here's how it began:

It's bad enough that we can't have a serious conversation about any of our nation's problems during the election season. Now folks like Paul Krugman are trying to ensure that we can't have one after the election either.


The New York Times columnist and Nobel Prize-winning economist recently wrote a column attacking a bipartisan proposal to reduce the nation's debt problems, arguing, "We're not facing any kind of a fiscal crisis." He maintains that President Barack Obama, if reelected, should reject calls to resurrect the debt-reduction blueprint.

She goes on to cite a variety of well credential sources who flat out disagree with Krugman's contention. She then cements her argument by going through the numbers.


America took in $2.45 trillion last year and spent $3.54 trillion, leaving us with a deficit of about $1.1 trillion. A nation with as much goodwill as ours can do that from time to time, but this marks the fourth year in a row we've spent over $1 trillion more than we took in. Just in that time, we've borrowed more than $17,000 for each man, woman, and child in the country.



The interest payments on all that debt are a potential tsunami of their own. We're spending $258 billion a year on interest payments for our massive debt. That's more than we spend on the departments of Commerce, Education, Interior, Energy, State, Homeland Security, and Justice combined. And the Congressional Budget Office projects that if we don't tackle some of this debt, our interest payments will soar to $1 trillion a year just over a decade from now.


As for our entitlements, the situation is equally dire. As the law is currently written, the Social Security trust fund will run dry in 2033. If nothing changes before then, Social Security recipients will have their benefits cut by 25%. Simpson-Bowles tries to keep the program solvent by putting in modest steps to raise the retirement age gradually far into the future -- by one year in 2050 and another in 2075 -- so as not to change the social promises made to people who are nearing retirement age now. But the longer we wait to discuss the real problems in entitlement programs and enact changes like this, the more draconian the fix will need to be.


That's why Krugman's claim that there is no fiscal crisis isn't just laughable, it's downright dangerous. Krugman throws down the gauntlet when he calls Simpson-Bowles "a really bad plan." As President Clinton notes, nearly every constituency will find some part of it hard to swallow. But the beauty of the plan is that it attempts to unify the country through shared sacrifice that is also grounded in some form of fiscal reality. And there's nothing "really bad" about that.

It's a terrific piece. You should pull it up.

* * *

Tangentially, is there anyone out there who doesn't think Paul Krugman is a farce, wrapped in a joke, inside a humiliation (and all endorsed by the Nobel prize winning committee which with every passing year proves it has the darkest, most demonic sense of humor in the history of the world)?


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Fri, 10/26/2012 - 12:56 | 2921945 fuu
fuu's picture

"Art Cashin On Becky Quick"


Fri, 10/26/2012 - 12:58 | 2921956 slackrabbit
slackrabbit's picture

Art you old dog...

Fri, 10/26/2012 - 13:05 | 2921979 alstry
alstry's picture

Tragedy Of The Commons Or Common Tragedy?

7 Billion People...Limited Resources...Unsustainable Waste....Bankrupt Economies....One Planet.....Zero Hedge

Welcome to the Udder World....where we all milk off each other now.

Fri, 10/26/2012 - 13:16 | 2922032 redpill
redpill's picture

Hush, this thread is about Becky's udders, don't spoil the party.

Fri, 10/26/2012 - 13:20 | 2922047 Richard Chesler
Richard Chesler's picture

 is there anyone out there who doesn't think Paul Krugman is a farce, wrapped in a joke, inside a humiliation (and all endorsed by the Nobel prize winning committee which with every passing year proves it has the darkest, most demonic sense of humor in the history of the world)?




Fri, 10/26/2012 - 13:39 | 2922122 Nothing To See Here
Nothing To See Here's picture

The Nobel committee got it all wrong. Actually, the EU should have received the prize in economics, with Greece as its representative, while Krugman should have received the peace prize for his "war means growth" keynesian theories and his alien invasion plan.

Fri, 10/26/2012 - 13:49 | 2922161 francis_sawyer
francis_sawyer's picture

Becky's not that well endowed in the udder dept...

Fri, 10/26/2012 - 14:09 | 2922224 francis_sawyer
francis_sawyer's picture

Oh... my bad [again]... I guess she's Morgana the kissing bandit & Jane Russell put together... I guess my fact checking is its customary sub par standard...[rolls eyes]...

Sat, 10/27/2012 - 08:14 | 2923637 GetZeeGold
GetZeeGold's picture



Who the hell is Paul Krugman?

Sat, 10/27/2012 - 10:26 | 2923718 monad
monad's picture

Enthusiasm and creativity more than makes up for socially programmed visual cues. Give me a merry woman with dancer's legs and diver's lungs and I'm set. 

Fri, 10/26/2012 - 16:56 | 2922679 Matt
Matt's picture

Just to clarify, it isn't the actual Nobel committe that hands out the real Nobel prizes in actual science. 

"Prize Committee similar to the Nobel Committees is used" -

Fri, 10/26/2012 - 18:46 | 2922878 knukles
knukles's picture

Economics is NOT a Science

Fri, 10/26/2012 - 13:25 | 2922070 Fishthatlived
Fishthatlived's picture

I'd tag it......but I think she gets up too early for me.

Fri, 10/26/2012 - 13:17 | 2922036 The Gooch
The Gooch's picture

I think you're stuck in a tape-loop, lactose.

Fri, 10/26/2012 - 13:23 | 2922063 fuu
fuu's picture

So sly, so sly the rat.

Fri, 10/26/2012 - 13:26 | 2922065 Fredo Corleone
Fredo Corleone's picture

Ah, "Becky" -- the jig is up. Once the operative term "Simpson-Bowles" appeared in the body of text, the heretofore invisible ( yet suspected ) hand of the ghost writer made itself visible.

Where is to be found the hallowed ground which is home to this sprite of a scribe ? An analyst desk in Omaha, perhaps ?

Fri, 10/26/2012 - 13:26 | 2922075 redpill
redpill's picture

Becky is Uncle Warren's fluffer in between his episodes of screwing the little guy.

Fri, 10/26/2012 - 14:08 | 2922221 ebworthen
ebworthen's picture

And notice that Becky said nothing about the FED and the rest of Government bailing out the banks and by proxy old crony capitalist codgers like her sweetie Warren Buffet.

Something about hearing "shared sacrifice" in the face of bailed out corporations, banks, and insurers who lie, gamble, manipulate rates, and steal people's money - makes me feel increasingly disabled and unable to work.

Fri, 10/26/2012 - 13:41 | 2922136 azzhatter
azzhatter's picture

Hey Art, Becky's spoken for. Warren is the jealous type

Fri, 10/26/2012 - 13:43 | 2922147 Stock Tips Inve...
Stock Tips Investment's picture

It seems that something happens in the world. Less logical ideas begin to be accepted by most of the population. Today in Europe, all shout "more spending". Here in the U.S., many people seem to be convinced that what Krugman says makes sense (?). Economic values ??that made this nation grnde appear to be an accident in our evolution. If this situation is not handled by responsible people, we attend a tremendous crisis.

Fri, 10/26/2012 - 14:14 | 2922241 Liquid Courage
Liquid Courage's picture

If Art's an "old dog" ... that makes Becky a "new trick", no?

Well, close enough.

Sat, 10/27/2012 - 23:11 | 2924793 Tommy Gunner
Tommy Gunner's picture

Picture this:

Art and Becky doing blow after work... and Art smashes back a few shots of JD... pops a Viagra... and starts to grind rythmically against Becky's big fat ass...

Becky reaches around and says 'oh daddy you I love older men with big red noses"

Ya baby I know what you want. Art bend becky over behind the set and rams it home. Becky howls in delight!!!

Then Joe Kiernan who is of course bi lifts his head from Karl's bone and looks towards Becky and he says

Hey Becky did you hear that Ben Bernanke (another old bastard) just stitched on a huge donkey cock that he got from a Donkey just outside of Kandahar.

Is that so Joe? As Art rogers here quickly... his entire head now beet red from exertion - he'll either blow a gasket and have a Mark Haines like collapse - unless he blows his nut first.

And Joe says yep, I gave him suck last week.

Wow. Can you pass along his tel - i love old bastards with donkey cacks.

The End

Fri, 10/26/2012 - 12:56 | 2921949 Dr Paul Krugman
Dr Paul Krugman's picture

Brightens up mornings lol.

Fri, 10/26/2012 - 13:08 | 2922001 joemayo
joemayo's picture

" farce, wrapped in a joke, inside a humiliation"  Address the charges, sir!!!!! LOL

Fri, 10/26/2012 - 13:15 | 2922022 NotApplicable
NotApplicable's picture

Pretty easy to invalidate the humiliation aspect, given that narcissists don't have the 'weakness' of humility.

If his face is ever red, it's likely because he's dressed in drag, and just got carried away with the rouge.

Fri, 10/26/2012 - 13:08 | 2922003 alangreedspank
alangreedspank's picture

Haha LOL

Fri, 10/26/2012 - 12:57 | 2921950 slackrabbit
slackrabbit's picture

Either Krugman is mad (99.8%) chance or he a closet gold bug (0.2%) and telling the idiots what they want to hear.

You decide!


Fri, 10/26/2012 - 13:01 | 2921965 A L I E N
A L I E N's picture

So you're saying there's a chance!

Fri, 10/26/2012 - 13:04 | 2921981 WALLST8MY8BALL
WALLST8MY8BALL's picture


Fri, 10/26/2012 - 13:04 | 2921986 Dr Paul Krugman
Dr Paul Krugman's picture

Gold is a fear trade considering there has been no inflation to ramp up the price. 

I am sure one of my mutual funds owns ABX, but no, I haven't buried any behind my house.

Fri, 10/26/2012 - 13:12 | 2922015 DUNTHAT
DUNTHAT's picture

you mean reported inflation.

real inflation quite a bit larger.  all those shrinking packages while maintaining prices!

Fri, 10/26/2012 - 13:19 | 2922043 MsCreant
MsCreant's picture

I guess your package shrinks when you ain't got no balls. Ask Krug.

Fri, 10/26/2012 - 13:18 | 2922038 MsCreant
MsCreant's picture

Oh I just love effigies. Too bad I can't hang you for Halloween. Truly horrific you would be.

"there has been no inflation..."

Besides your ego?

Fri, 10/26/2012 - 13:40 | 2922134 Thisson
Thisson's picture

Gold is not an inflation hedge, you idiot.  Gold is an interest rate hedge and a tangible asset.

Fri, 10/26/2012 - 16:15 | 2922580 Overfed
Overfed's picture

Whaddya' mean, no inflation? I'd sure like to know where you shop for groceries, building materials and buy fuel. I can tell ya' that shit's doubled in the last two years or so. My electric bill has tripled in the last 10 years, too, so I call bullshit with a capital "B" on any and all claims of 'no inflation'.

Fri, 10/26/2012 - 12:57 | 2921951 Nihilarian
Nihilarian's picture

Berta's Fundamental Law of Economics. "The only thing more dangerous than an amateur economist is a professional economist."

Fri, 10/26/2012 - 12:57 | 2921953 slaughterer
slaughterer's picture

Why insult Krugman?  He is Romney's choice as next Fed Chair.  

Fri, 10/26/2012 - 13:56 | 2922186 Carl Spackler
Carl Spackler's picture

That is a funny one.

Romney is not a Keynesian.  Clearly, you didn't hear what he had to say when debating the intellectual weakling known as Obama (who just admitted on Leno that he was lost after 7th Grade Math - no wonder the economy and fiscal situations are such a mess) .


Fri, 10/26/2012 - 14:03 | 2922210 Bastiat
Bastiat's picture

Math and pot does not mix, period.

Fri, 10/26/2012 - 15:35 | 2922463 Chuck Walla
Chuck Walla's picture

Math and pot does not mix, period.

Ha, little you know! If Pookie has 2 lids and wanna give his Boo 3 spliffs. So, we divide the OZ by, Fuckin' Choom, now where was I.... 1 OZ divide by the Fast & Furious, subtract the square root of Choom, what was I sayin?  Dorito run!!!!


FORWARD SOV something...

Fri, 10/26/2012 - 15:18 | 2922413 Panafrican Funk...
Panafrican Funktron Robot's picture

"Romney is not a Keynesian"


Fri, 10/26/2012 - 12:57 | 2921955 becky quick and...
becky quick and her beautiful mouth's picture

somebody had to do it.

Fri, 10/26/2012 - 13:03 | 2921977 sunnyside
sunnyside's picture

You're talking about bathing with Warren right?

Fri, 10/26/2012 - 13:24 | 2922067 slackrabbit
slackrabbit's picture

Yea, but she's only touching his Munger!

Fri, 10/26/2012 - 13:37 | 2922113 earleflorida
earleflorida's picture

Becky, your my heroine,... besides being the greatest


Fri, 10/26/2012 - 12:58 | 2921958 slaughterer
slaughterer's picture


AMZN +4%

AAPL -2.5%

Makes perfect sense:

AMZN lost money

AAPL made money.  

Fri, 10/26/2012 - 13:57 | 2922191 adr
adr's picture

Like I said. Bezos is probably in charge of finding children to sacrifice at the Bohemian grove. He gets a pass.

A hard audit into Amazon would probably find it to be one of the largest money laundering operations in history.

The company can't make a dime, yet continues to trade at an ever increasing P/E even though everyone has to know the only growth in earnings is the negative number. 

The analysts claim the stock is riding the wave of the Kindle Fire HD. Really?

Fri, 10/26/2012 - 13:01 | 2921959 Zero Govt
Zero Govt's picture

Becky nails it on the debt situation

Krugman has lost it ....academic qualies and Nobels clearly count for nothing but signage, "Warning Nutter Here"

Fri, 10/26/2012 - 13:04 | 2921975 NotApplicable
NotApplicable's picture

I'd like to think that being taken down by the likes of Becky would be a career ender for Krugboy, but sadly, it will likely strengthen his resolve to go full-retard (Sophism 101).

After all, the NYT has been fully discredited for years and years, yet they are still considered the "paper of record."

Fri, 10/26/2012 - 13:26 | 2922072 slackrabbit
slackrabbit's picture

correction: "the toilet paper of record"


Fri, 10/26/2012 - 14:49 | 2922344 NotApplicable
NotApplicable's picture

Duly noted.

Sat, 10/27/2012 - 11:34 | 2923795 monad
monad's picture


Fri, 10/26/2012 - 13:50 | 2922166 azzhatter
azzhatter's picture

Not a prayer the SS trust fund lasts until 2033. That's a joke and shows she eating the skittles also. That number was based on getting a return of 5% on T's

Fri, 10/26/2012 - 13:50 | 2922167 azzhatter
azzhatter's picture


Fri, 10/26/2012 - 12:59 | 2921961 Atlantis Consigliore
Atlantis Consigliore's picture

Becky- breast implants,  quick, less watching than CNN

Fri, 10/26/2012 - 13:08 | 2922002 asteroids
asteroids's picture

I think those are real. Having kids will do that for you. She's writing like a mom worring about her and her kids future.

Fri, 10/26/2012 - 13:11 | 2922011 robertocarlos
robertocarlos's picture

What aboot her sugar Daddy?

Fri, 10/26/2012 - 13:00 | 2921962 Tony Rumjog
Tony Rumjog's picture

I wouldn't throw her out of bed for eating crackers.

She misses the fact that Krugman and his ilk may in fact have an objective to eliminate the sovereign status of the US and have a Global single system.

Fri, 10/26/2012 - 13:08 | 2922000 NotApplicable
NotApplicable's picture

Misses? Ignores, rather. I can't imagine she's unaware of the siren song of the CFR.

Fri, 10/26/2012 - 13:22 | 2922057 MsCreant
MsCreant's picture

Global single system

A giant planetary dating service? The fiend.

Fri, 10/26/2012 - 13:00 | 2921963 Wakanda
Wakanda's picture

Headline heaven in dark and dangerous times.  Nice TD!

Fri, 10/26/2012 - 13:01 | 2921966 gitta4437
gitta4437's picture

what's really sad are the hard-working parents, who scrimped and saved to send their kids to Princeton, only to be taught by that sub-standard professor

Fri, 10/26/2012 - 13:09 | 2922005 NotApplicable
NotApplicable's picture

I LOLed!

Fri, 10/26/2012 - 13:03 | 2921967 slackrabbit
slackrabbit's picture

Let me guess!

Becky took the Red pill?

CNBC producer: Kill her!


Fri, 10/26/2012 - 13:02 | 2921970 Yen Cross
Fri, 10/26/2012 - 13:03 | 2921978 slaughterer
slaughterer's picture

I am actually with Krugman:

Fiscal problem? what fiscal problem?

The fiscal problem is a bankster myth.

Fri, 10/26/2012 - 13:04 | 2921985 pauhana
pauhana's picture

Nobel also gave prizes to the EU and our dear leader which should tell you exactly how much that honor is worth.

Fri, 10/26/2012 - 13:15 | 2922026 Unprepared
Unprepared's picture

In memory of Alfred Nobel, for all those souls that bombs didn't kill (yet).

Fri, 10/26/2012 - 13:23 | 2922062 NotApplicable
NotApplicable's picture

I think they should hire Krugman to fix their cash flow issues.

Fri, 10/26/2012 - 13:05 | 2921988 the not so migh...
the not so mighty maximiza's picture

She knows the SHTF after election.  She is putting down her poms poms hoping no one remembers the past 4 years.

Fri, 10/26/2012 - 13:07 | 2921998 slackrabbit
slackrabbit's picture

Rat leaving  ship


Fri, 10/26/2012 - 13:10 | 2922008 NotApplicable
NotApplicable's picture

Did you know that rats are experts at noting tidal changes?

Fri, 10/26/2012 - 13:53 | 2922174 azzhatter
azzhatter's picture

this bitch spends every morning cheering on Bernanke, Dimon , Blankfuck and the rest of the pyschos all the while blowing Buffett. Fuck her

Fri, 10/26/2012 - 13:05 | 2921989 cxl9
cxl9's picture

I always just assumed Krugman was a shill for the Democratic party, and that everyone knew that.

Fri, 10/26/2012 - 13:19 | 2922044 Unprepared
Unprepared's picture

Yeah? But he loves wars.

Fri, 10/26/2012 - 13:37 | 2922119 NidStyles
NidStyles's picture

Who was in charge for WW1, WW2, and Vietnam again...

Fri, 10/26/2012 - 13:29 | 2922084 Seasmoke
Seasmoke's picture

No just Israelhole

Fri, 10/26/2012 - 13:06 | 2921992 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

A farce .. in a joke ... in a humliation ...

Sounds like a burrito.

Who is this joker anyway?

Fri, 10/26/2012 - 13:06 | 2921993 Flounder
Flounder's picture

I dunno.  How about printing enough bills to give everyone with a pulse $1million?  Then everyone will be rich and no one will have to work.  That should solve it.  Right?

Fri, 10/26/2012 - 13:09 | 2922004 slackrabbit
slackrabbit's picture

Yea but now I feel jealous cos your a gazillionare and I'm only a trillionare!

Fri, 10/26/2012 - 13:22 | 2922053 Renewable Life
Renewable Life's picture

Ya that would fix it.........we would have too much money, chasing to few goods! (because no has to work anymore right) You think immigration issues are bad now, holy shit that would help it out

If that happens I have a bag of tulip bulbs I want to sell you, there ONLY $125 a piece, and if you hurry you can sell them for $150 a bulb next week!! Cash Only!

Krugman is a douche BTW! Enough said!

Fri, 10/26/2012 - 13:13 | 2922009 Laughinggrizzley
Laughinggrizzley's picture

Krugman's one goal , as any other Keynesian, is to make sure the US becomes like Greece (And we may already be there. sans the riots and German overlords) What an asshole!

Fri, 10/26/2012 - 13:10 | 2922010 Dr. Engali
Dr. Engali's picture

Hmmmm ... What other clueless war mongering basturd won a peace prize? Just more proof that they are worthless.

Fri, 10/26/2012 - 19:15 | 2922924 Umh
Umh's picture

Henry Kissinger.

Fri, 10/26/2012 - 13:16 | 2922031 Joshua_D
Joshua_D's picture

FU Krugman.

Fri, 10/26/2012 - 13:16 | 2922033 SokPOTUS
SokPOTUS's picture

@BeckyQuick:  Beauty and Brains. #InLove

Fri, 10/26/2012 - 13:17 | 2922037 seamus3500
seamus3500's picture

fuck you bernanke!!

Fri, 10/26/2012 - 13:19 | 2922041 EmmittFitzhume
EmmittFitzhume's picture

No need to mull over this.  Krugman is a Cloward and Piven fan.  Most of those who hide inside of universities their whole life are

Fri, 10/26/2012 - 13:19 | 2922045 curbyourrisk
curbyourrisk's picture

Tyler - do you copy and paste these pieces?

First line reads -

From UBS Finacial Services:


Fri, 10/26/2012 - 13:55 | 2922180 azzhatter
azzhatter's picture

Art works for UBS

Fri, 10/26/2012 - 13:22 | 2922050 slackrabbit
slackrabbit's picture


When this shit goes down, the media whores are going to fully understand the meaning of 'french revolution'.


When that went down, they didn't stop with the king, the royalty, the members of parliament. 

This wasn't like the American / US War for Independence, nor Oliver Cromwell's fight againt the injustice of King of England. 

The french people hung Anyone and Everyone who was associated with them.


I think Becky just had someone tell her that the MSM days are numbered; and it wont be in ratings.... 


Fri, 10/26/2012 - 13:25 | 2922059 bigerny
bigerny's picture

" Paul Krugman is a farce, wrapped in a joke, inside a humiliation "

HaHaHa,a Krugman Turducken.

Fri, 10/26/2012 - 13:27 | 2922080 Spaceman Spiff
Spaceman Spiff's picture


A call for frank talk about our debt from Bill Clinton (and me)



She lost me with the headline.   Clinton never had a true surplus (debt levels rose every year while the government pilfered from the lockbox programs).   Clinton push the free money housing for everyone bubble.  Clinton signed Nafta.  Clinton signed glass-steagall.  Most of the Enron/Worldcom/etc scandals took place under his SEC.     So fuck him.


Overall, I like the article, but Clinton is one of the most culpable figures in all this economic mess.   (Bush has plenty of blame too for those thinking I'm a blind partisan)

Fri, 10/26/2012 - 13:32 | 2922100 Clayton Bigsby
Clayton Bigsby's picture

I wouldn't wipe my ass with his nobel prize.

Fri, 10/26/2012 - 18:56 | 2922891 hawk nation
hawk nation's picture

Thats because it would only add more shit to your behind

the nobel prizes should be handed out at the adult video awards but im sure the actors for adult film would be outrages to share the stage with the morally bankrupt prize winners 

Fri, 10/26/2012 - 13:42 | 2922143 ziggy59
ziggy59's picture

Becky Quick... Something Oxymoron-ish about the name.

Fri, 10/26/2012 - 13:56 | 2922184 azzhatter
azzhatter's picture

just moronic is close enough

Fri, 10/26/2012 - 14:51 | 2922348 alfred b.
alfred b.'s picture


    ,,,,yesss...I know, I think it ought to be Quick Beccky!

Fri, 10/26/2012 - 13:58 | 2922195 loveyajimbo
loveyajimbo's picture

I almost won the Nobel the same year they gave it to the asshole Krugman,,, I was happy with 2nd prize, though... a brand new Auto Suck... just plug it into my cig lighter and let the bliss begin... I think 3rd place was a blow-up Geithner doll, with optional Lohan lips... batteries not included.

Fri, 10/26/2012 - 14:00 | 2922201 JR
JR's picture

Speaking of Beckies, Becky Akers today adds these two new gems to The LRC Blog’s “Odes to Our Rulers,” in the subdivision titled “TSA.”

Akers (author of ”A Jury of Gutless Wonders: And how a mother protected her daughter from government thugs” on Lew Rockwell today) says : Our first selection comes from “Paul the Cab Driver.” He advises me that he “scrawl[s it] on bathroom walls in the airport whenever I can.”:

What can we say,
About TSA?
They grope little girls,
For very low pay.
And when we protest,
All they will say,
Is "Don't blame us!
We don't think...
Just OBEY!"

“We have Lee Shelton to thank for our second effort,” says Becky, “a parody of ‘God Bless the USA’”:

(To the tune of "God Bless the USA," by Lee Greenwood)

If tomorrow all my rights were gone,
I've had for all my life,
And I had to fly again
with my children and my wife.

I'd thank my lucky stars
to be in the USA,
'Cause the flag that stood for freedom
stands for something else today.

And I'm proud to be an American,
where I'm safe instead of free.
And I know the government has lied,
but they know what's best for me.

And I'd gladly strip down in front of you,
'cause there is no better way
To assure us all it's safe to fly,
God bless the TSA!

Taking off in Minnesota,
touching down in Tennessee,
It's only possible because of
heightened security.

Being patted down in Houston,
groped and scanned in L.A.
Well there's fear in every American heart,
and its time we stand and say...

That I'm proud to be an American,
where I'm safe instead of free.
And I know the government has lied,
but they know what's best for me.

Fri, 10/26/2012 - 14:17 | 2922250 wagthetails
wagthetails's picture

you know...Krugz saying there is no financial crisis isn't that far off base.  this market is soo fake, you can make up anything to describe it.  there is no market, there is not currency, there is no death, there is no life, there are no countries, there is no unemployment, there is no employment, a million dollars, a trillion a quad a google...keep adding zeros!  It sounds like Krugz is the fourth member of the nihilists from the Big Lebowski!  

Fri, 10/26/2012 - 14:27 | 2922280 aerofan3
aerofan3's picture


I sometimes feel a little awed by the comments from the genii (obviously Latin graduates) who post on this site, but I wonder if anyone can answer the following question:


ZIRP - this is so the Fed can lend to banks at zero or near zero interest rates.


So, how is it that $258 billion a year (Govt figures?) are paid on interest payments (presumably to the banks who borrowed against ZIRP) for our massive debt. More than we spend on the departments of Commerce, Education, Interior, Energy, State, Homeland Security, and Justice combined?


Is this what is happening, banks borrow from the taxpayer at zero and bill the taxpayer back at some extortionate rate?


Almost unbelievable, and if true, the best fraud in history!!


Fri, 10/26/2012 - 15:34 | 2922458 Panafrican Funk...
Panafrican Funktron Robot's picture

It's actually even easier than that.  The banks borrow money to buy treasuries, agency paper, and mortgage backed securities.  The banks then sell a pretty good amount of that shit (especially the shit that isn't performing well) back to the Fed at a significant premium via their normal POMO + whatever QE enhancers.  

In summary:

1.  Borrow money at virtually zero.

2.  Buy up a bunch of shit at a significant yield spread.

3.  Sell off the shit that isn't performing back to the Fed at par (or better).

Rinse, repeat.

It's not only free money, it's risk-free money.  It's a larceny transmission mechanism.  

Fri, 10/26/2012 - 14:30 | 2922292 kicksroute66
kicksroute66's picture

Becky quick is a loooooser

Fri, 10/26/2012 - 14:36 | 2922307 Quinvarius
Quinvarius's picture

Krugman is an a egomaniac trapped in a web of previous statements.  He has reached the final statement which validates all his other statements and has no futher room for argument.  "There is no crisis." 

Fri, 10/26/2012 - 14:46 | 2922337 InjuredThales
InjuredThales's picture

Krugman: Greatest Troll of all time! Ever.

Fri, 10/26/2012 - 14:46 | 2922338 Brokenarrow
Brokenarrow's picture

Becky Quick: Buffet's fantasy love interest, home wrecker, shill, wall st lap poodle, hypocrite, and worst of all, fat ho. That pretty much sums it up....

Do you think these cnbc whores ever worry about all the elderly and naive they have sent to their financial death?

I think a little karma actually struck last night.

Fri, 10/26/2012 - 14:47 | 2922340 narmbs
narmbs's picture

"In the IMF’s latest “World Economic Outlook”, released this month, Olivier Blanchard, its chief economist, and Daniel Leigh study how well their past forecasts turned out. They analyse the IMF’s 2010-vintage forecasts for 28 rich economies and find that planned fiscal cuts of 1% of GDP generally led the IMF to overestimate a country’s subsequent growth by about a percentage point. Fiscal multipliers since the recession seem to have been between 0.9 and 1.7, they write, rather than the 0.5 figure used in initial forecasts. That meant more economic hardship for less improvement in public finances.

Given the small sample size, these conclusions should also be treated cautiously. Yet a battery of tests conducted by Mr Blanchard and Mr Leigh shows that the fund’s new results hold when controlling for things such as banking crises, and remain statistically meaningful when countries on IMF programmes, such as Greece and Portugal, are excluded. Rapid belt-tightening may bring down deficits, but it hurts growth more than the fund anticipated."


I have to lean toward the Nobel Prize-winning economist over the money honey on this one.

Fri, 10/26/2012 - 14:57 | 2922358 alfred b.
alfred b.'s picture


   3 things about this:

       first, how come it ever get on HERE?

        2nd...did joe kornen witness this (and keep quiet), and last:  wait till Warren gets wind of this...!!!


Fri, 10/26/2012 - 15:03 | 2922375 Bansters-in-my-...
Bansters-in-my- feces's picture

Tittle should read >Art Cashin on Becky Quicks rump roast,Paul Krugman too.

Fri, 10/26/2012 - 15:07 | 2922384 azzhatter
azzhatter's picture

This Quick bitch is really a hypocrite. The fiscal cliff they are all wringing their hands over is the best possible solution for this country. Force all these irresponsible fucks in congress to do the responsible thing. Cut the fucking spending, lay off half of DC and reduce the military to a defense squad rather than a modern day Genghis Khan

Sat, 10/27/2012 - 10:50 | 2923742 monad
monad's picture

Buckminster Fuller called it LAWCAP, LAWyer run CAPitalism. Shakespeare was right, and then all the propagandists.

Fri, 10/26/2012 - 15:22 | 2922424 Hal n back
Hal n back's picture

I am so frickin' tired about hearing about  the Clinton surplus--US debt -the funded debt never went down during his adm and it took Y2k printing and a few years of the start up of printign presses (its the economy stupid) starting in '95 to get the dot com bubble really going which balanced the budget at best due to the newly minted dot co billionaires who cashed in.

Fri, 10/26/2012 - 15:25 | 2922432 Hal n back
Hal n back's picture

and social security is so screwed--not just on the assumed earnigns that Bruce Kasting discussed here a month ago but also the spending assumes short life expectancies in social security and insurers and life settlement companies show life expectancies 5-9 years longer.

and BTW--timmy Geithner is a Social Sec trustee--enough to make you puke. And he signed off on the trust earning 3% more than inflaiton. Now--social security benefit paymnets recognize inflation to be 1.7%--while the inflator for wages subject to fica tax went up something like 3.1%.

We cannot even keep track of the BS anymore its so fast and furious.





Fri, 10/26/2012 - 15:38 | 2922469 JohnFrodo
JohnFrodo's picture

I trust Krugman, he is dealing with micro and macro economics, and winning a Nobel prize means he is pretty good at it. Some info babe who uses kitchen table ecomomics is not a credible opponet.

Fri, 10/26/2012 - 18:44 | 2922872 hawk nation
hawk nation's picture

Where do they have you locked up at for mental disorder?

Fri, 10/26/2012 - 20:34 | 2923099 hooligan2009
hooligan2009's picture

heh..i sent this to the forum and on the same day..i would like to buy Becky a drink (or three til i get good looking :) )

pretty sure she gets more viewers than I do!

Fri, 10/26/2012 - 15:48 | 2922499 Justpassinthru
Justpassinthru's picture

Krugman almost makes me embarrassed to be a MIT alum.... almost.  Man I wish he had gotten his PhD from Harvard!

Sat, 10/27/2012 - 02:09 | 2923501 neutrinoman
neutrinoman's picture

That's right, the SS trust fund runs out in late 2020s, not 2033, with current demographic and economic trends. Then there's Medicare ... we'd better not go there.

I'm glad someone in the public view has finally called Prof. Krugman for the nutcase that he is. Whatever his technical contributions to economics in 80s and 90s, since 2000, he's been a raving loon. When the history of this period is written, a special note will have to be made of the strutting public pseudo-intellectuals who poisoned the public's mind with nonsense and slowed down solutions of our problems. The list starts with Krugman. Through his audience of cult followers, he's done a lot of damage.

(I come here for the zany humor, really, and b/c I enjoy wearing my tin-foil hat -- I shoudn't have been surprised to find the puerile jokes, Art Cashin on Becky Quick, Art Cashin on Becky Quick's Roast, etc. I get the heartwarming feeling I'm back in junior high school, or I'm having a conversation with Beavis. But we all need comic relief these days, don't we?)

Sat, 10/27/2012 - 05:26 | 2923566 hooligan2009
hooligan2009's picture

depends on how quarked ou are about string theory and how strung out you are by experiments in multiple dimensions. remember in todays world of drought, the Fed has to pump in liqudity or we would all have to go broke paying taxes :)

Sat, 10/27/2012 - 09:23 | 2923673 el-greco
el-greco's picture

Did MSM just wake up to the US debt problem? Oh dear, it must be important now.

Sun, 10/28/2012 - 01:30 | 2924857 Joseph Jones
Joseph Jones's picture

A Jew (Krugman) suggesting debt is only and always good?  Wow!  I'm shocked, just shocked!


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