Biderman Nominates Krugman For 'The Big Lie' Award

Tyler Durden's picture

Biderman's back and belligerent as ever. The TrimTabs CEO is perplexed at Krugman's (empirically) flawed assumptions that the US government can manage the US economy (better than a free market), destroys Krugman's cornerstone argument that the deficit is reducing to sustainable levels (thanks only to a big jump in taxes and not growth), and suggest he win an award for perpetuating "The Big Lie" that deficits don't matter because 'we owe it to ourselves'. The bottom line is thanks to simple supply and demand, the Fed is blowing a huge bubble in stocks "that will explode," since the typical growth in incomes is not there. Biderman wholeheartedly agrees with David Stockman and goes on to warn of the "Ides of April" as, while many proclaim the calendar as indicative of it being a great month; in bull runs, he notes, taxpayers are 'trained' to sell at the last moment and with tax-day arriving soon, he expects this week to remain bid (on quarterly flows) and next week to be trouble (as taxes weigh).


Spend the time and listen to the numbers - they are fact not fiction...

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P Rankmug's picture

Who hasn't destroyed a Krugman argument?

akak's picture

Not even excluding Krugman himself!

Stoploss's picture

I guess the US bank account seizures start in Cali??

AlaricBalth's picture

... we owe it to ourselves.
The Fed is not "ourselves. "

nmewn's picture

Zactly...therein is the Big Lie.

NeedleDickTheBugFucker's picture

This assumption would only be correct if "ourselves" was in fact one individual or entity.  If Krugman knew anything about double-entry accounting he would not make such asinine statements (see intercompany debt / loan).

centerline's picture

Steve Keen did a good job of laying this out (endogenous money creation, re: the fallacy of how/when money is created in a modern credit based system - another of Krugman's "mistakes").  I think the bigger point though is the simple understanding that economic models are inadequate and obscure the truth of human behavior (greed).

Mr. Saxby's picture

I'm fairly certain that Krugman is intimately familiar with double-entry accounting. How else can you explain the spitroasting that John Q. Public has received over the last 20 years?

All Risk No Reward's picture

>>perpetuating "The Big Lie" that deficits don't matter because 'we owe it to ourselves'.<<

That assumes Biggest Finance / Monopoly / Politico Capital is part of "we."

The irony is they think they are better than "we" by "divine right" or, if you prefer, Darwin's "Preservation of Favoured Races in the Struggle for Life," until it went to marketing once it was decided to sell it to the unfavored races.

The truth is there is a predator class and there is a prey class.  If you didn't know this, you are, by definition, in the prey class.

Debt Money Tyranny

Pseudolus's picture

Its a Royal 'We' it doesnt include us

To be more precise: it does include us, if you consider the legal uses of the word 'include' which can mean 'only those specified but not others'

Your rights about Darwin. The Wedgewood/Darwins/Spencer/Huxleys and all their sociopathic biological and ideological heirs have a perfectibilist plan for us all

Its for our own good, of course

Always enjoy your posts. When is the blog coming?


juggalo1's picture

By and large, the Fed is in fact ourselves.  If the Fed loses a bunch of money, who suffers?  People who use the dollar.  If the Fed profits, who gets the money?  The US federal government.  That is me and my representatives.

SK8boarder's picture

CNBC FOX Business and most of there guest.. BUY BUY BUY.. will grow are way out of this.. and take the gold bugs down at the same time..  same thing everyday. I'm sure everything is just fine..

rhinoblitzing's picture

RE: The Big Lie

Add Nightly Business Report (NBR) formerly of NPR bought out by CNBC in February. Now you have more consolidation of propaganda. Only staff member they kept was Suzie Gharib. CNBC heads now seen on scores of affiliate pgms throughout the day.

The networks have the "teleprompter readers" do triple duty.... suppressing job openings, and consolidating staff within an even tighter circle - and the ones left in the circle scared of losing thier jobs if they don't toe the party line.

I'm starting to feel as if Santelli is just kept around as "Bear trap bait".

Freddie's picture

I nominate Paul Krugman for Douchebag of The Decade

DeadFred's picture

Stiff competition for that one though. Bernake, Holder, Liesman, Dimon, and old what's-his-face the Kenyan guy- the list grows real fast.

ejmoosa's picture

Let's not forget Greenspan who abandoned free market principles at the first sign of trouble.

indygo55's picture
Dont forget that bitch Corzine.
RafterManFMJ's picture

Stiff competition for that one though. Bernake, Holder, Liesman, Dimon, and old what's-his-face the Kenyan guy- the list grows real fast.


So let's do it progressive style - They all get a DBoTH award; see? Everbody's a winner.

Carl Spackler's picture

All good candidates, Deadfred.

That Kenyan guy has got to take the cake, though.

He's the lie that keeps on lying.

newdoobie's picture

What Douchebag down arrowed you?

zhandax's picture

Why, Dr Paul Krugman, of course.  Speaking of which, where has that douchebag been the last few days....he was getting to be a regular here.  MDB seems to be AWOL as well.  Hmmmm, he did say he was the Dr.  Could he have been telling the truth for once?

Carl Spackler's picture

I second Biderman's and Freddie's nominations.

All in favor...

Ghordius's picture

"...Krugman argument?" How about his argument that the EUR is doomed? and that balanced budgets are poison?

NoDebt's picture

Leave Krugman alone.  He's just another sycophant trying to earn a buck off a doomed system.  He'll burn with the rest of us.

akak's picture

I have the matches.

lewy14's picture

I'll bring the LNG tanker.

knukles's picture

He will be badly judged by God.

Freddie's picture

Krugman needs to get to that judgement day a lot sooner than later.

WillyGroper's picture

I can donate about 5 gallons.

Cabreado's picture

The sycophants, collectively, have control.
Those that pay them are insulated.

If you give Krugman a pass, you give the whole mess a pass, too.

We are very good at neglecting the most simple, enabling forces.
In fact, we defend them...
We defend them by omission.

We act is if we do not really care.

We are fools.

And that is how we got here.

Freddie's picture

Well F TV and F Hollywood plus the rest of the media.  They enable and empower these evil f***** people. 

If you watch any TV or Hollywood's sh*t then you are helping them.   And Fox News is not your friend.  They are all the problem.

Downtoolong's picture

 'we owe it to ourselves'

Margin call, the client's collateral just fell below agreed limits.

ebworthen's picture

I love it.

Krugman, you are a clueless asshole.

Phoney money, phoney money, phoney money everywhere!

Sell!  Sell!  Sell!  If you are in equities TAKE YOUR PROFITS NOW!!!

Buy some Gold and Silver while it is on sale and go to cash.  You will thank me cum June/July.

BoNeSxxx's picture

I see no reason to wait for June.


Bay of Pigs's picture

Da Beedermon mon. Pass da spleef mon...


CunnyFunt's picture

The kiddies just love him. No amount of rational repudiation will change their minds. There will be plenty more krugmanite robots waiting in the wings as the next reincarnation. We're fucked. Get ready.

NoDebt's picture

Nah, nah, nah.  GO LOOK AT THAT LINK AGAIN.  He's got as many haters as supporters.  But check out the difference between them:

Supporters basically say "thank goodness we have a hero to push back against stupid conservatives."

Haters say "he's boring, thinks he has all the answers and does not encourage critical discussion."

We're not fucked yet.  Well, OK, yes we are, but not because this guy's ideas are going to take over the world one student at a time.

McMolotov's picture

If I were in Krugman's class, I'd slip something in his coffee to make his fucking beard fall off, like the CIA tried to do to Castro.

PubliusTacitus's picture

I would pay a decent amount of money to audit one of his classes and harass him in the front row.

Then I'd punch him in the throat after class.

Papasmurf's picture

You would find Ben Bernanke underneath.

Stoploss's picture

Don't hold back Charlie!





tom a taxpayer's picture

Surf's up. I have a Biderman board. Watch me hang ten.

Krugman is a waxboy!

nmewn's picture

"The growth of the Internet will slow drastically, as the flaw in "Metcalfe's law"--which states that the number of potential connections in a network is proportional to the square of the number of participants--becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's." - Paul Krugman

Still battin a thousand after all these

fonzannoon's picture

Biderman is correct but watching him put another time stamp (April now?) only to get his balls stuffed down his throat is getting old. He is literally a broken clock without the being right part happening yet.

NoDebt's picture

It's a clock with a lot more than 12 hours on it, I guess.

Hey, he (and others) really think they're going to be right at some point before they die or get too old to care.  And he's not all that young a guy.  So..... you know, that kinda brackets the timeframe, I guess.

2nd week of April because of tax returns?  Um..... maybe he should have ended the video before he got to that part.  While you're still winning, drop the mic and walk off the stage.

fonzannoon's picture

exactly. someone should email him the pomo schedule.

Cursive's picture

I'll be sure to tell my mortgage holder that Krugman says the payments are no big deal because I owe it to myself, so I really don't have to pay it.  For that matter, why doesn't Krugman just declare a jubilee?  Of course he wouldn't.  He's just an asshat who makes fart noises with his blow box.

Stuck on Zero's picture

Does it make any sense for the stock market to grow much faster than personal incomes?