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Art Cashin: "This Is A World Even Keynes Could Not Conceive"

Tyler Durden's picture





 

Short and sweet from the Chairman of the fermentation committee:

The Fiscal Cliff And Beyond – This morning markets are buoyed by signs of movement in the Fiscal Cliff negotiations.

 

Unfortunately, none of the give and take sounds like a grand design package. Rather, it looks like cobbling together a short-term band-aid solution.

 

Nonetheless, the market has been so self-terrorized with Cliff negatives that even band-aid solutions may bring a sigh of relief.

 

Meanwhile, the central banks of the world are poised to simultaneously embark on aggressive new rounds of quantitative easing. There will be lots of focus on Thursday's BOJ comments. This is a world even Keynes could not conceive.

Of course, Keynes never worked out of 1954 Stalingrad, or 2012 Washington, D.C.

 


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Tue, 12/18/2012 - 10:18 | Link to Comment aka Gil
aka Gil's picture

Make mine a double.

Tue, 12/18/2012 - 11:39 | Link to Comment Manthong
Manthong's picture

“This is a world even Keynes could not conceive.”

Sorry Art.. your’re wrong.

You ascribe laudable intent and character to Keynes but he was a despicable elite socialist degenerate.

We are living in a world of unrestrained government and bank fiscal intervention and unfettered sexual perversion and promiscuity.

This is the world of Keynes’ dreams.

 

To those who may junk.. expand your horizons.

http://www.keynesatharvard.org/
http://www.canadafreepress.com/index.php/article/31863
http://skeptics.stackexchange.com/questions/2802/was-john-maynard-keynes-a-child-molester

Tue, 12/18/2012 - 10:19 | Link to Comment Dr. Engali
Dr. Engali's picture

I don't think this is a world that Isaac Asimov could conceive. 

Tue, 12/18/2012 - 10:25 | Link to Comment crusty curmudgeon
crusty curmudgeon's picture

The revolution was.  We are merely dealing now with the consequences.

Tue, 12/18/2012 - 11:07 | Link to Comment yogibear
yogibear's picture

As long as the welfare and the food stamps keep coming the public is happy and will never revolt. The oligarchs know this.

Keep the masses fed and they are like cattle.

 

Tue, 12/18/2012 - 12:33 | Link to Comment ATM
ATM's picture

I think you are missing the next step which is they will eventually pull the welfare and foodstamps from under everyone. They want the coming tumult. It will give them the opportunity to grab total and unfettered control.

They are taking the system to it's breaking point so that they can install their new system upon us.

Tue, 12/18/2012 - 12:42 | Link to Comment cynicalskeptic
cynicalskeptic's picture

When Rome collapsed the world entered the Dark Ages.  Does anyone really think this collapse will be any better?   If you've destroyed the world's financial system and a good part of the West's productive capacity, where do you go? Unless Bix Weir is right and this was a planned collapse to take down the bankers (a pie in the sky dream in my opinion) with 'the good guys' having a plan for rebuilding based on hidden real wealth, the ollapse leads to chaos.

Tue, 12/18/2012 - 13:04 | Link to Comment Buzz Fuzzel
Buzz Fuzzel's picture

Dark Ages it is. Kings and Queesn, Lords and Ladies, knights and serfs, castles with moats I can hardly wait.

Tue, 12/18/2012 - 13:43 | Link to Comment Hacked Economy
Hacked Economy's picture

"When Rome collapsed the world entered the Dark Ages."

Not true.  In 325 A.D., as the Western Roman Empire was in major decline, Emperor Constantinus moved the capitol from Rome to Byzantium in the East, renaming it after himself as Constantinople (modern-day Istanbul in Turkey).  After the Visigoths descended upon Rome and sacked it in 410 A.D., the former Western Roman Empire (Europe) fell into chaos and the "Dark Ages".  But the Eastern side of the Empire - ruled from Constantinople - survived and flourished for several hundred more years.  The Mideast and Orient lived on.

Tue, 12/18/2012 - 10:34 | Link to Comment NoDebt
NoDebt's picture

Full-frontal debt monetization.  It ain't pretty.

Now everyone take your government-issued crazy pills and you'll feel better about it.

Tue, 12/18/2012 - 11:11 | Link to Comment Turin Turambar
Turin Turambar's picture

I wouldn't be so sure about that.  Krugman definitely has a Harry Seldon complex.   The more I read about Keynes, the more I despise him.  If you want a relatively short, illuminating read, check out

Keynes, The Man by Murray N. Rothbard - highly recommend.

http://mises.org/books/keynes_the_man_rothbard.pdf

Tue, 12/18/2012 - 10:22 | Link to Comment jldpc
jldpc's picture

T or F. Japan, the home of kamakazzi mind fucks, is about to continue leading the lemurs (us) over the edge. (I didn't say "clif...; for fear of gagging myself.)

Tue, 12/18/2012 - 10:25 | Link to Comment gjp
gjp's picture

Japan's doing its own thing, with its demographic and energy challenges, but it is still (barely) a nation of net savers and trade surplus.

We're doing this to ourselves, all by ourselves, and have no-one to blame but ourselves.

Tue, 12/18/2012 - 10:24 | Link to Comment Mike in GA
Mike in GA's picture

What if The Krugman were to replace The Bernank?  Think of it.  In one fell swoop the central tenet of bastardized Keynesianism would be put to the ultimate test.  Krug would double down, triple down, quintuple down - whatever he thought it would take - and trillions and trillions of newly printed $$ later we'd arrive at that glorious central banking nirvana - NEED MOAR MONEY!  Oops. 

 

 

 

(maybe I didn't do enough?) 

Tue, 12/18/2012 - 10:23 | Link to Comment buzzsaw99
buzzsaw99's picture

Boozie the wall street clown. May, could, might...

Tue, 12/18/2012 - 10:26 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"This Is A World Even Keynes Could Not Conceive"

If one always follows his or her teacher one never ventures further than the teacher's universe. To expand our universe requires that we undertake our own personal journey and push the boundaries of our mind.

<On the other hand, it's a Brave New World.>

Tue, 12/18/2012 - 10:24 | Link to Comment malikai
malikai's picture

Stalin is proud, comrades.

Tue, 12/18/2012 - 10:25 | Link to Comment GMadScientist
GMadScientist's picture

Keynes, unlike the Fed, understood inflation.

 

Tue, 12/18/2012 - 10:30 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Oh.....the Fed understands inflation all right. They just try like hell to make sure you and I don't.

Tue, 12/18/2012 - 10:30 | Link to Comment Winston of Oceania
Winston of Oceania's picture

Makes a dandy export weapon.

Tue, 12/18/2012 - 10:37 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

The ultimate weapon of mass destruction.

<And best of all it ain't banned by the Geneva Convention.>

Tue, 12/18/2012 - 10:30 | Link to Comment Winston of Oceania
Winston of Oceania's picture

Keynes was mentally defunct in that he actually believed politicians would pay down debt in good times. Absolute dolt if you ask me...

Tue, 12/18/2012 - 10:40 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

He also believed in Santa Claus.

<Or was that the Fed?>

Tue, 12/18/2012 - 10:49 | Link to Comment GMadScientist
GMadScientist's picture

The Fed believes they are Santa Claus.

Tue, 12/18/2012 - 10:51 | Link to Comment GMadScientist
GMadScientist's picture

There's a world of difference between "should" and "will".

Tue, 12/18/2012 - 11:19 | Link to Comment Turin Turambar
Turin Turambar's picture

I don't think he believed that, and I don't think he cared.  Keynes was a self-absorbed immoralist who woud've fit right in with the current Alynskiite crowd.  He held such a low time preference for the future that the debt wouldn't have bothered him a bit.  He wouldn't say so in public though if it would hurt his position politically.  He was always the expedient liar.  If you don't believe me, then recall one of Keynes's most famous quotes:  "In the end, we're all dead."  That's all you need to know about the guy.

Here's a bonus question.  How many people know that Keynes took a total of ZERO economics classes as an undergraduate and only ONE as a graduate student?

Tue, 12/18/2012 - 10:25 | Link to Comment Jason T
Jason T's picture

he probably conceived it..but was too afraid to speak it.  he knew full well the interest would one day catch up and blow everything up.  

Tue, 12/18/2012 - 10:25 | Link to Comment surf0766
surf0766's picture

Another round? It never stopped.

Tue, 12/18/2012 - 10:26 | Link to Comment LongSoupLine
LongSoupLine's picture

Fuck you Cashin.  UBS fucking primary dealer fucking drunk.  You and your fucked up shit on the taxpayer fucking hot pile of shit company can fuck off.

Tue, 12/18/2012 - 11:26 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Don't hold back bro. Tell us how you really feel.

:>)

Tue, 12/18/2012 - 10:34 | Link to Comment benbushiii
benbushiii's picture

The result of all the currency debasement will not end well for society and the world; as Dylan Grice pointed out in his CurrencyDebasement article..."There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency" and "History is replete with Great Disorders in which currency debasement has coincided with social infighting and scapegoating. This debasement of currency also coincided with a debasement of society.
Factions grew more suspicious of one another. Communities fragmented. And one part of the community bore the brunt of the fears."

 

This will not end well as the disease of debasement causes further societal upheavals.

Tue, 12/18/2012 - 15:07 | Link to Comment venturen
venturen's picture

just think we will all be BILLIONAIRES!

Tue, 12/18/2012 - 10:36 | Link to Comment 905ozs
905ozs's picture

Lol....

So queen Liz, bless them the old hag....attended the first cabinet meeting for a monarch in over 100years.

She asked that pillock Osborne why the gold (or not gold) she saw at the BoE last week wasn't owned by the UK?

He answered "we sold some ma'am but we still own some"

Off with the little pricks head for lying to a liitle old lady!! (who owns all uranium rights on earth, apart from everything else)

The real question is, why is Liz attending a cabinet meeting??

Tue, 12/18/2012 - 11:02 | Link to Comment Orly
Orly's picture

She's the newest member of ZeroHedge.  Her nick is, "Spizott."

Tue, 12/18/2012 - 13:48 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

She's featured in some Olympic memes.

Her interest is interesting, Daily Mail readers are all in a twizzle that's for sure; "Queen wears Tory blue to meet ministers...The Prime Minister revealed the last time a Cabinet had been attended by the head of state was George III in 1781."[source]

In late 1781, the news of Lord Cornwallis's surrender at the Siege of Yorktown reached London; Lord North's parliamentary support ebbed away and he resigned the following year. The King drafted an abdication notice, which was never delivered, finally accepted the defeat in North America, and authorised the negotiation of a peace.[source]

 

Looks like it's time for round II.

 

Neo-Victorian aesthetics are also popular in the United States and United Kingdom among cultural conservatives and social conservatives. Books such as The Benevolence of Manners: Recapturing the Lost Art of Gracious Victorian Living  by Linda S. Lichter call for a return to Victorian morality. The term Neo-Victorian is also commonly used in a derogatory way towards social conservatives...

Neo-Victorian details appear in The Diamond Age (1995) by Neal Stephenson, in which Neo-Victorians are one of the main groups in the novel.[source]

 

"The future is already here — it's just not very evenly distributed."

Tue, 12/18/2012 - 10:37 | Link to Comment francis_sawyer
francis_sawyer's picture

Bottom of the Barrel ~ Literally & Figuratively

Tue, 12/18/2012 - 10:50 | Link to Comment tooriskytoinvest
tooriskytoinvest's picture

Central Banks Almost Always Print To Fuel The Boom And Ameliorate The Bust, But Today’s Challenges Go Beyond Keynes. In The Coming Economic Apocalypse, Most/All Paper Value Will Return To Its Intrinzic Value (Zero).

http://investmentwatchblog.com/elite-on-the-verge-of-losing-control-central-banks-almost-always-print-to-fuel-the-boom-and-ameliorate-the-bust-but-todays-challenges-go-beyond-keynes-in-the-coming-economic-apocalypse-mo/

Tue, 12/18/2012 - 10:51 | Link to Comment Manthong
Manthong's picture

.

 

Tue, 12/18/2012 - 10:52 | Link to Comment spanish inquisition
spanish inquisition's picture

If you forget all the economic theories and look to what is actually going on it will make sense. We are in keeping the ponzi alive 101. If you are a Fed level investor you are safe. As in earlier times, you may need to create a war to clear the books and blame. You have the people in place to get one started and also the means to start a new fiat ponzi. Mid level investors, as well as, ahead of the curve investors are converting to hard assets and will take a hit, but have enough to start over. The newer investors along with those that make a living off the machine (economists, wall street minions, politicians and journalists) are getting ready to panic. A short term fiat fix is needed to feed the beast and pray for a miracle or another sucker, so they can cash out. Any long term solution will require aknowledgement of the fraud.

Tue, 12/18/2012 - 10:53 | Link to Comment batz
batz's picture

 

Forget Keynes, it's Orwell we should be reading.

"If the U.S. (and foreseeably, Japan and the Eurozone) were to pursue a policy of indefinite "money printing" in the form of QE, inflation and some unrest will undoubtedly result, but it is possible that governments are willing to take that risk because recent advances in technology and the surveillance powers of government mean that the consequences of unrest are much less grave than they might have been just 10 years ago. "

http://asportinginterest.blogspot.ca/2012/12/bernankes-qe-n-1.html

Tue, 12/18/2012 - 10:56 | Link to Comment IamtheREALmario
IamtheREALmario's picture

There are so many people and the world is moving so fast that more and more elitists have had to have been created to control it all and this makes the rulers uncomfortable since they know that challenges to power always come from the inner circle and not from the masses.

It has gotten beyond the ability of the controllers to control. They cannot monitor, sort and murder fast enough and they refuse to understand that the next world is not theirs.

Tue, 12/18/2012 - 11:00 | Link to Comment shovelhead
shovelhead's picture

Unfortunately, the sexual perversion and promiscuity is pretty watered down by the time it gets to me and results in a zero gain.

Damn that Cantillon Effect.

Tue, 12/18/2012 - 11:31 | Link to Comment Bastiat009
Bastiat009's picture

I don't know why people complain. Facebook is still online. Working is no longer required. Money printing has yet to have any negative effect in Europe or in the US. NFL playoffs are around the corner. Seriously, if you don't turn on the fan, nothing will ever hit it, right?

Tue, 12/18/2012 - 11:46 | Link to Comment klockwerks
klockwerks's picture

I think someone has turned off the fan. Won't even see it coming

Tue, 12/18/2012 - 11:47 | Link to Comment Titus Flavius C...
Titus Flavius Caesar Vespasianus Augustus's picture

Isn't the Fed buying 2/3 or more of the government's IOUs?  Bit of a snake eating its own tail sort of thing, eh?

 

A gentle reminder to Paul Krugman's agents:   currency, paper with pretty designs, actually isn't worth anything.  It's primary utility is in getting real shit.

 

A gentle reminder to Austrians/Rothbardians/People What Can Do Math:  The Bernank et al are not stupid - they are not subject to a bad paradigm, they are evil.  The good folks behind the world's central banks (yeah, the Rothchilds and whoever else actually owns shares in the Feds banks - {{anyone got a legit link on that btw?}} want to extend the life of the dollar because the name of the game is taking possession of real shit - the "economy" is just some Matrix shit...it's fairly beside the point.

 

Part of it, no doubt, is also about keeping the US of A functioning long enough to use its military a few more times to secure some oil/gas pipelines, prevent a couple others, and sorry to those of you sick of hearing it - what motivates a lot of these fuckers is very much 'Eretz Israel' and using US military, diplomatic and economic might to smash and Balkanize Zion's enemies.

 

Kissinger is full of shit.  Israel ain't going no where - crossroads of 3 continents, great place for pipelines, lots of gas once they steal Lebanon and Sinai, and besides, the Messiah won't come to help them rule the world of the goyim until they rebuild the 3rd temple.

 

Funny thing is, I'm pretty sure we killed all the Judeans way back when.  How are there so many running about now, and how is it you folks refuse to talk about how fucked up their dual system of ethics is - a dual track playbook for criminal tribalism the Haredi and Orthodox in their millions unapologetically adhere to?

 

causa latet, vis est notissima

 

Tue, 12/18/2012 - 12:05 | Link to Comment topspinslicer
topspinslicer's picture

Art is wrong! Keynes himself said his economics would be best implemented in a totalatarian system. What part of tyranny could Keynes not imagine? Let's stop making excuses for the world's stupid ideas that are dressed up in the respectable halls of statist academia

Tue, 12/18/2012 - 21:10 | Link to Comment Go Tribe
Go Tribe's picture

How the hell can gold and silver be falling in this situation?

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