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Paul Krugman May Be The Most Dangerous Man In America (To Our Remaining Wealth & Liberties)
Submitted by Ron Holland via The Daily Bell,
Paul Krugman's 'Triumph of the Wrong' Column Is Dead Wrong
"Politics determines who has the power, not who has the truth." – Paul Krugman
What leads me to conclude Paul Krugman's latest column is dead wrong? First of all, I agree with him on one thing. Krugman offers a summary of supposed conservative, free-market solutions and claims the Republicans have been wrong about everything. We agree only because the GOP really hasn't offered any free-market solutions, only talking points opposing the socialism and centralized police state created by both political parties. This doctrinaire enemy of freedom and liberty makes the case that only Socialist Party 1 and Socialist Party 2 are allowed to offer legitimate and approved solutions to top-down Washington incompetence and mismanagement.
Focusing on the GOP election victory, Krugman's editorial "Triumph of the Wrong" is a typical sour grapes whine from the leading economic apologist for socialism in the US. Even his title reminds me of an earlier socialist movement's propaganda masterpiece, Leni Riefenstahl's 1935 film "Triumph of the Will" about the Nazi Party Rally in Nuremberg. It is the most effective propaganda film of all time with no comparison to the drivel put out by this latter-day apologist for socialism and the centralized state.
Although choosing a column title column similar to the most well known Nazi film of Hitler's Third Reich might grab attention from Internet search engines, I believe it is in poor taste and reminds readers of the all too many similarities between the Third Reich and the Washington government championed by Krugman today, both at home and abroad.
But then again, Krugman has a history of this. His 2007 book, The Conscience of a Liberal, is another self-aggrandizing title knockoff of one of the most important political books of the 20th century, Barry Goldwater's 1960 book classic, The Conscience of a Conservative. Goldwater's book of conservative and free-market ideas heralded the takeover of the GOP by true conservatives and restored the Republican Party to prominence with Reagan's election.
Yes, the ideas of the book today are incessantly slandered and abused, not just by Krugman and the Democrats but also by the GOP establishment. Incessantly, that is, except at election time when limited-government solutions are paraded for a few days to excite the voter base only to then be quickly hidden under lock and key until the next election.
All who love freedom and liberty should repudiate this man and his statist views. My name is Ron Holland and I have zero use for Socialist Party 1 or Socialist Party 2. I consider the recent GOP election victory as just more of the same political bread and circuses to keep the electorate from looking at real free-market solutions to the tyranny of Washington.
Still, the Krugman quote at the top of this editorial is correct: "Politics determines who has the power, not who has the truth." With 54 years gone by since the Goldwater book classic was published, we should understand by now that always the Democrats and Republicans have had the power while the truth of free-market solutions has been kept hidden from discussions and implementation.
I believe Paul Krugman is the most dangerous man in America to your remaining liberties and wealth in the US because he is not only a consummate self-promoter but also has the entire establishment media behind him. There have been other great promoters in history who championed messages that have ended in devastation for millions. Likewise, I fear Krugman's message and believe this will not end well unless you look outside the US and controlled two-party democracy to defend your rights and the wealth that should remain for your posterity.
"Think of the press as a great keyboard on which the government can play." – Joseph Goebbels
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Krugman isn't as bad as people say. Listen to the Bloomberg Masters in Business podcast with Barry Riholtz and hear for yourself: http://media.bloomberg.com/bb/avfile/Masters_in_Business/vJonIK_cDB4k.mp...
Krugman is one of the most offensive political hacks, brazenly utilizing the bully pulpit for evil statist ends.
While morally a rottenly wrong thought, he comes closest to the poster boy of the left justifying Eugenics and Reeducation Camps.
So, he isn't as bad as people say.
He's worse.
He's not just worse, he's an evil man.
Speaking of hacks, here's Wolf Blitzer surrounded by male strippers:
https://twitter.com/MikeCaprio/status/530932066582794240/photo/1
Oh fuck me... that is disturbing as well.
First that hooker pic, then Paulize Walzie and now Wolf and male strippers. And I gotta do H&I tonight at the shrink lock up.
Jesus. I'll really connect with 'em...
https://video.search.yahoo.com/video/play;_ylt=A2KIo9gfx15UtXkAlez7w8QF;...!+%281938+Original+In+Color!%29&c=6&sigr=11af532dk&sigt=129jhf1gj&age=0&&tt=b
Govt has become so big and inept that if someone comes in and cuts by 20-30% it will cause a depression thre times the magnitude of 1929.
So that's not gonna happen.
We are domed
LOL
The propaganda is thick, my friend.
This idea that slashing government spending would cause problems is pure, uncut statist lying at its best. Cutting the government by 30% means what? That they are now stealing 30% less of my money than before? Whatever will I do without all that theft? I'll tell you what I'll do - save it, spend it or invest it.
All those people who ate food that was stolen off of my table will now find out where my capital is going and they will go there to earn a living.
Get it?
When WWII ended, they were terrified that a million men were coming home and the economy would crash without their government stipend! Haaaa! That didn't happen.
Cutting the non-essential .gov leeches, 60-80%, out of the picture would almost instantaneously right the ship.
Hasn't Japan proved all his neo-Keynsian theories to be just plain WRONG. Why does anyone still take him seriously. Yes, I know he has a Nobel Prize but then so does Obumboy.....
Krugman isn't as bad as people say.
The fact that you calling yourself a capitalist while supporting Krugman is quite bizarre... Perhaps you should change your nic to something more appropriate, like Socialist...
Think of government as a great sandbox in which the psychopaths can play.
No, not yet ... if they face hyperinflation it will have done so.
If they face something short of hyperinflation after a couple years of full monetization, for instance only enough inflation to get wages back to trade balance levels, I'd say it will have proven Krugman right.
The experiment is still going.
Everthing that has a dawn, also has a dusk - So why not embrace the end of this era and the birth of a new one? I cannot for the life of me understand why people want to 'hang-on' to the past several decades like they were so magnificent? Personally I wish I could have lived in the late 1800's thru the early 1900's seems to be a time when things were a little more balanced.
When your town of 5000 people's police dept. serve a jaywalking warrent looking like this:
http://extras.mnginteractive.com/live/media/site46/2012/1005/20121005__0...
You get a funny feeling you may not enjoy what's coming down the road.
Officer Andy's dead and he ain't coming back.
My father would be dead and my mother a cripple. I kinda like modern medicine.
I Fucking #HATE Krugman and his cat too. When SHTF, what I wouldn't give to 'cleanse' him from the Earth personally................
Economics tells you who has the bullshit, not the brains.
Don't take it out on the cat. If you "cleanse" Krugman, you gotta adopt and take care of the cat.
Not hard to do. He vacations in St. Croix.
Leave the cat out of this.
All the old guard changing their tune recently. Bill Gross, Alan Greenspan and now Paul Krugman. Something's up.
I think they all occasionally stick their finger in the air (or up their asses), see which way the wind is blowing and go that way, personally. Nothing more than that.
I sense the same.
I think what's really going on is that they've realized it's getting close to the main event and they're going into CYA mode, hoping that preaching something for six months covers for 30+ years of misdeeds.
Krugman is Wormtongue!
I'm a pretty simple person too, i can be fooled and not even care about it.
Disturbing, but nice picture. I wonder what little Wolf and Paul have in common? Could it be the same tribal connection that binds Yellen, Bennanke, and Greenspan together? I wonder. sure it must be just random. Sarc. off.
You nail it.
I know the left pretty well and one of the saddest defects of the entire mind cage is that these poor deviants don't understand the concept of learned ignorance. Their 'Leaders' are infected by the toxic waste of what in a healthy society would be recognized as pathological.
Humanity is being sucked down the drain of deception.
Duped.
Fooled.
'Hoodwinked'.
Raped by violent sociopaths and a system designed by them to enslave us.
Far worse.How does anyone this evil sleep?
After hookers n' coke they cap the evening off with twelve year old scotch
which makes sleep elementary, Dr. Strangelove. That's how tough these evil people have it with all that wealth transfer they stole. Instead of counting sheep they count the money that the whole herd of sheep continue to earn for them and they manage to rest well no matter what.
wow..isn't this guy the one who used to try to sell you some confound cereal made from sticks and leaves with sugar added for the kids??????
I'd rather have Krugman in my face than Horowitz.
+1000
Merely a symptom.
If only a vet was smart enough to understand why Krugman was so dangerous..........
WOW....a reliable source for trustworthy information. And, you are on the payroll? jus asken.
Research Says: Studying Economics Turns You Into a Liar
http://www.theatlantic.com/business/archive/2012/12/research-says-studying-economics-turns-you-into-a-liar/266423/
"9/11 has become a day a shame for America" All you need to know about this prick.
Riholtz is an asshole, as are all the folks from Bloomberg.
Useful idiot
There is nothing wrong with Krugman that a .308 entering through the forehead can't fix.....
krugman is a sorceryconomist
well.. for heavens sake...everyone bought Greenspan BS for years, why not this 'expert'.
"Expert". yes, that is what Iwant to be come back as...an 'expert'. One who is popular with the media and all the 'folks' who have ruined America...well, it was my job.
Looks like dr evil with that cat
He's up to a 3 cat/day habit
He is Dr. WTF but I won't disagree with his quote on politics.
That's the only true statement that cocksucker has ever uttered in his life.
It's fitting that it wasn't intended to made to be truthful but to cast negative aspersions on the Republicans.
A political hack disguised as an economist. A lightning rod for the woefully befuddled who insist on pounding square pegs in round holes.
this title will be like a red rag on a bull. I will sit back and enjoy the knee jerk vitriol.
I take it that you have found success with his theory of indebting your way to prosperity?
Please, do tell.
"How can I be broke? I still have loads of checks left in the book."
I am not defending his ideas, but I find the usual barrage of Fuck-you-Krugmans...amusing, but not contributory to the debate. There seems to be a visceral and thus irrational hate towards the man. Is he an establisment figure ? yes. Is he political ? Most likely. Is he also very intelligent and interesting ? Yes. The Keynsians, from the little I gather, might be wrong this time as far as the path forward for US is concerned, but that does not mean that a Keynsian stimulus can not work anywhere in any circumstance.
By 'work' do you mean like a hit or two of coke will work to keep the party going, just so long as you ignore the adverse side effects that come with it?
I believe that in some situations you need to get the ball rolling ( again ) so to speak. I thought the New Deal was a historic example of the successful application of a Keynesian stimulus, but not so sure anymore after going over a wikipedia article on it. Anyway, I heard Krugman advocate big spending on the Charlie Rose show( those who can bear to watch : http://www.charlierose.com/watch/60460939 ). Apparently that needs to happen in coordination with Europe. I suppose the risk of 'fatally' undermining the value of the dollar is too big in the transition period otherwise. But really a layperson. Set me straight if needed.
barrage was a bit strong a word.
But explain to a European like me why Krugman is so very wrong ? Every policy creates winners and losers. Can anybody identify those groups ? And why you seem to see yourself in the group of losers in case of a massive stimulus ?
ZH makes actually a good case of "winners" of massive stimulus, either fiscal or monetary, being the megabankers first, the Wall Street insiders second and the rich in general or third
it is actually visible in many statistics, including the recent wealth statistic from Credit Suisse
Krugman is btw also the greatest declared enemy of the EUR project, but this is conveniently forgotten, in most cases
as an European, you are somewhat insulated from this discussion's real effects because in Europe we refrained from massive fiscal stimulus of the kind of TARP and TALP and we refrained from irreversible massive monetary stimulus, with the exception of ZIRP and NIRP, which are bad enough, but impossible to have otherwise while the FED steers global liquidity
Hey Ghordius,
Thank you for your answer.
I understand that monetary stimuli like ZIRP benefit banks, as does TARP.
TARP : troubled asset relief program. This is a bailout. TALF appears something related. Of course the big banks are the winners here.
But as far as I understand Krugman is advocating a different kind of fiscal spending, for instance the government embarking on massive public infrastructure projects. That might be better than giving near free money to banks or bailing them out, because you can not force these banks to make loans.
Krugman interestingly ( but certainly familiar to you ) called WW2 such stimulus that worked for the economy. But to his credit, this time he clearly advocated something constructive in stead of destructive. Interesting too that he said it was needed to convince Germany of the same.
I heard Germany really needs to invest more in its infrastructure. Does this reflect American pressure ? From what I have seen in Germany the infrastructure is world class.
what is with all these ASIA whores as ads on Zero??????
You've been visiting some nasty internet sites is how. Google knows your search and browser history. Then they match up whatever ads are programmed to most closely match where you've been recently. Plus, of course, everything you type in here.
I get ads for 'adult undergarments', scam insurance products and 'adult dating sites'. Plus, of course, plenty of the new "Bill Gross has a New Home at Janus" ads.
Do a few "Asian midget porn" searches and my ad content would change dramatically.
So that's why....
Oh, now I get it.
I keep getting these on-line job application opportunities for the NSA, CIA, FBI and all the like, keep filling them in with all my most closely guarded personal secrets and then all I get is more of 'em!
Thanks NoDebt.
rhymes with puckles
Wow, book of the year.
Chosen by these mofos.
Wow.
http://www.amazon.com/club-Containing-cautions-dialogue-between/dp/B0066...
Running circles around the kid's?
Wisdom is Mercy....
On a long enough timeline.......
Jeez.
Glad I didn't google all those weird transgender abbreviations they use.
I hope cis doesn't have anything to do with cistern or a deep well.
I don't want to know shit I'll have to brain-bleach.
I get Liming stone crusher and quarry equipment ads. Also, European beauties who are desperate for dates with Brazilian nut farming ads.
Listen.
Crafty semantics by the Semites.
As Krugman utilizes semantics to dovetail his two favorite topics we must not ignore the authors use, twice, Paul Krugman and Dead in the same sentence.
Pet the kitty Paul, pet the kitty.
To any Marxist, "POLITICS IS ABOUT WHO GETS WHAT"....
Only child of a communist pedophile and a bi sexual Jewish mother paul found solice in his basement fondeling himself in front of his three cats named "Keynes, Wilson and Goebbels"
See, anyone can be a columnist and spin fairy tales.
I had no idea. Well, this will be a party 'chat' favorite tomorrow night. So,.........who is this guy again? Likes cats, well...the 'vemon' will love that! I feel lucky already...
Guys! I gotta thank you all. Especially Blindfaith. Me and Mrs gotta go to a cocktail party (and I don't drink or like to make small talk, but I sure like to fuck with people's heads) that's gonna be 100% far to the left of mad house Progressives and now I got my topic. Messing with Paul Krugman. Telling stories of fascist leaderships, social contracts, Nazi Germany, genocide, oppression of minorities and winding up at Paul's Prospects.
They'll love me.
Hah ha ha ha ha ha ha ha ha
Maybe I'll get asked to leave early
At the party, tell them that Krugman and Krauthammer took the Dale Carnegie course together and are members of the same Blue Lodge. One went York, the other Scottish Rite.
As bad as that may be, It can't be worst than the lawyer shindigs I was obligated to attend via Der Wife.
Lefties to a man/woman and spectacularly uninformed even about their own party's real political aims. Dig beyond their bullet points and you find nothing but vapor. I suppose they quit reading anything they don't have to after they pass the bar.
Hell, you can play it straight and still be called a Nazi Fascist.
Mostly I would do it just to watch the wife look spastic trying to be subtle and wave me off at the same time. She's living proof that even non-Italians can summon up a superb malocchio.
They can never even make their own case as well as I,
much less the devil advocate.
Waste of time and boring to even try to agitate the brain dead mutha's.
No sport at all.
& any dude I ever met with that mindset,
is too creepy to be near.
And y'all wonder why I drink.
We expect a full report of knukles going knuclear on the kocksuckers.
Bonus points for any
skullfucking.
Skull-f'ing you say?
That's today's secret word!
http://www.dailygazette.com/news/2014/nov/08/saratoga-county-deputy-susp...
If this MOFO doesn't get his own thread on Tyler's site I'll be sad. Think of the clicks! Ca-chunk, ca-chunk, ca-chunk! A huge tanker full!
Smarter than the average bear.
Why you are living in one right now boo boo.
Heil Krugman. Zee Dumpkuff!
I bet he is one of those cat hoarder type of people. Neighbors will find him buried and mummified inside of his house with 156 cats crapping all over the place.
Oh, to live long enough to read " NY Times columnist's corpse eaten by his cats!"
"...The little remains that were found were not deemed sufficient to warrant a shovel-ready job..."
If Krugman ever comes to your house keep close eye on your children and pets.
Arrest him for financial terrorism.
He sort reminds me of the 'Creepy Rob Lowe' in those DirectTV commercials.
https://www.youtube.com/watch?v=2sdM8mZEI6Q
That's super creepy rob Lowe to you.
<--- Looks more like a serial killer
<--- Looks more like a kid-toucher
Yeah, that's what I thought, too.
Wouldn't surprise me if it is found out in a couple years and he just disappears like Frugal Gourmet Jeff Smith. Wouldn't surprise me if he's stuffed 20 suitcases full of dead prostitutes either.
He'd be met at my door with a question: "does anyone else know you are here?".
Krugman is a shill for the democrats and an absolutely shameless, arrogant cunt..
People in America with half a brain are not going to read anything krugman writes because they know he is an idiot.
People in America that dont know who krugman is will never read any of his articles because they could care less about the subject matter.
People in America who read his articles and enjoy the read and are as stupid as he is and they purposely seek out that form of banal garbage.
Whats my point? Maybe we could create a public private partnership that would create a new normal in this flat world that would send paul to guantanmo bay indefinetely to be raped by muslim men.
Dr Drivile Phd Doorbell prize wiener Poopfeser of reekonomics at Habsurd U
I think you meant wreckanomics.. ?
bag o dicks breath is dang'rous
Listen.
The number thirteen was thought to be unlucky.
Each additional coil adds friction to the knot, which makes the noose harder to pull closed or open. The number of coils should therefore be adjusted depending on the intended use.
Consequently, thirteen coils were found in a hangman’s noose, a foreboding sign for those convicted to be hanged.
Best knot ever made.
That guy teaches? Economics of all things. I guess smart aint as big a deal as integrity.
The cocksucker claiming to be the "Conscience of a Liberal" who advised Clinton and Gore to obliterate regulation of banks and finance is so full of shit that even the real liberals--not to be confused with the dimocrat Obots--despise him:
http://commondreams.org/views/2014/11/07/paul-krugman-and-tortoise-why-l...
He doesnt' teach, he indoctrinates his brand of reality.
the ONLY danger to people and their wealth is the people themselves.
when they decide they've lost enough and are uncomfortable enough they will rise up and put an end to all the bullshit.
there is no evil influence in the world, only people getting away with what other people LET them get away with.
Listen.
Naive.
Take a few minutes.
https://www.ted.com/talks/paul_piff_does_money_make_you_mean
May Dr. Krugman get his just desserts in the days ahead ...
He wouldn't happen to be jewish is he?
Knowledge determines who has power and politics is just theater that de Rothschild Bank foists upon the masses through de Rothchild owned media
and political parties throughout the World. Krugman is merely a franchise operator that de Rothschild vetted and installed in the New York Times
roster of de Rothschild shills at their disposal 24/7. Krugman is owned
and a functionary of the de Rothschild Banking empire.
Love Krugman, best friend Gold ever had.
PS wouldn't comlain about the ads you see here....often they are a reflection on what you have been surfinig. So Asian whores ads???
Czech whores
He is just a clown that says what the statists want an "economist" to say. If CNN/MSNBC/ABC/CBS/NBC/atc. didn't put a camera on him and and a mic in his face, he would reside in utter obscurity.
Just a face and a name for tyranny. If it wasn't Krugman, it would be Picketty, or whatever morally bankrupt reprobate the left chose to trot out.
Krugman constanty argues that anything that cause economic pain cannot, by definition, be working. This is the same as arguing that any diet that's less enjoyable than gorging on Twinkies can't be working, because it's not fun. Weird.
Krugman constanty argues that anything that causes economic pain cannot, by definition, be working. This is the same as arguing that any diet that's less enjoyable than gorging on Twinkies can't be working, because it's not fun. Weird.
Wish people would stop using the term 'socialism' out of context. What is going on in the US is 'Statism' and the emergence of a 'Corptocracy' where the State and its resources have been hijacked to benefit narrow vested interests. If it were Socialism then the State would be used to benefit society as a whole. Benefits in the US are not socialistic. They are a merely band-aid to plackate and molify the poor as they get poorer. Until the point that they all realise they have been shafted.
Try selling that to the average Russian in their workers' pair o dice.
Krugman is a damn fool. Austerity is a term that recently has been given all kinds of negative connotations because it is often painful. Economic growth tends to mask a multitude of problems, in economics austerity refers to cutting spending often by lowering and reducing the amount of benefits and public services. Austerity policies are often used by governments to try to reduce their deficit spending.
Spending cutbacks are sometimes coupled with increases in taxes in an effort to demonstrate long-term fiscal solvency to creditors. It is easy to point your finger at measures taken to reduce runaway or wasted spending and blame them for creating a reduced spending spiral but that is unfair. If a government spends and runs its business in an austere way the issue of when to start cutting or tightening should never surface. More on how Austerity has been given a bum rap in the article below..
http://brucewilds.blogspot.com/2013/04/austerity-is-being-given-bum-rap.html
http://www.safehaven.com/article/35734/the-financial-repression-authority-with-john-butler
John Butler has 18 years experience in the global financial industry, having worked for European and US investment banks in London, New York and Germany. Prior to launching the Amphora Commodities Alpha Fund he was Managing Director and Head of the Index Strategies Group at Deutsche Bank in London, where he was responsible for the development and marketing of proprietary, systematic quantitative strategies for global interest rate markets. Prior to joining DB in 2007, John was Managing Director and Head of European Interest Rate Strategy at Lehman Brothers in London, where he and his team were voted #1 in the Institutional Investor research survey. In addition to other research, he publishes the Amphora Report newsletter which appears on several major financial websites. A cum laude graduate of Occidental College in California, John holds a Masters Degree in International Finance and Economics from the Fletcher School of Law and Diplomacy, associated with Harvard and Tufts Universities.
Financial Repression
BROAD DEFINITION: "Any Policy that constrains the ability of the financial markets and investor participants in these markets to take rational actions to invest, diversify and manage the risk of their investment as they would personally prefer to do."
NARROW DEFINITION: "A specific tool kit of policies implemented by government which indirectly confiscate the wealth of the private sector and move it to a combination of the public sector and/or "too large to fail" institutions."
FINANCIAL REPRESSION IS ABOUT LIMITING INVESTMENT CHOICE
"The whole point of financial repression is to make it difficult or impossible for an investor to protect themselves"
John feels Financial Repression "is now extremely broad based (globally) and in fact you have to look very closely to find countries not actively pursuing some mix of Financial Repression policies."
A Negative Sum Game
Butler has argued in his Amphora Report that competitive currency debasement is "is not a zero sum game but rather a negative sum game because policy makers don't realize that by trying to devalue against each other, unseen they are undermining the very credibility of unbacked fiat currencies generally."
Increasing the BRICS are "becoming increasingly wary of where all this is going and as a consequence are diversifying not only their fiat currency reserves but are diversifying into gold, oil fields and real assets generally."
How Investors Protect Themselves
"The only free lunch in economics is DIVERSIFICATION. The problem is that in a world of Financial Repression, the way you diversify yourself is very different than a world where financial represion is not an issue."
"There is no way out but Currency Debasement"
John outlines in this video specifically what the "new diversification" must consist of.
He believes the Fed "will blink" as the US dollar continues to rise as a consequence "of the deflationary pressures which are spreading across the world." He sees evidence of a major trend reversal coming in 2015 and possibly before the end of 2014.
https://www.youtube.com/watch?feature=player_embedded&v=brEfmCgWIIY
Bow down
Shouldn't that cat in his lap be one of those hairless Abyssinians?
Ron Holland and the Daily Bell, don't make me laugh! Who the fuck is Ron Hollans? I'll bet his daily circ on the Bell is about 7 people and you commenters think he is the second coming of ayn randian. Get a life!
He is only dangerous if you believe him. His sycophantic preaches are getting hoarser by the day with global markets that he cannot mesmerize to dance.
Does he misunderstand the situation, or the risk of lying about it for the benefit of his owners...
Krugman is a lowlife. A tool like Barry on a smaller stage. That won't save him from being tried and hung until dead but he's a pawn. would i run him over on the road yes; reverse over him, maybe, well yes!
The only thing hazardous to your wealth is listening to Zerohedge. For example- peak oil, peak commodities, over investment in PM’s, hyperinflation, buy the VIX, short Tesla/Apple, interest rates to the moon, dollar collapse, collapse of the Japanese economy and market, general market collapse, no true economic recovery, etc. etc. Always wrong all the time.
On the other hand, let’s look at the predictions of the loathsome Krugman… rebound in Japanese markets (check), decline of the Euro zone because of austerity policies (check), dis-inflation or deflation in the developed world (check), decline in interest rates (check), lackluster recovery due to a lack of fiscal stimulus (check), recovery of the dollar and decline of the Euro (check), etc. etc.
The disparity between Krugman and ZH is striking. In short, you will make money listening to Krugman and lose it listening to the ZH party line.
The more Krugman is correct, the stronger and vitriolic the accusations against him. See cognitive dissonance at-
http://en.wikipedia.org/wiki/Cognitive_dissonance
ZH is a cult, pure and simple. There’s a great investing aphorism that is appropriate… “It’s not about being right, it’s about making money”
Most ZHers deserve to lose money... go right ahead, be my guest.
Krugman and the other neo-Keynesians believe that perpetual worldwide economic growth can be achieved if only the Worlds' populations will allow central banks and governing bodies the authority and means to control the Worlds' economies.
They believe that the key to prosperity is endless debt creation. They want the working classes of the world to borrow and spend money issued by the central bank. If debt creation slows down, if populations decide that the best course for them is to save more money, spend less, and pay down debt, the Neo-Keynesians go wild. They fear a "deflationary spiral" that will destroy the "virtuous cycle" of constant credit/debt expansion. At this point the central banks and governing bodies are supposed to step in and fill the gap by borrowing or printing money (in the populations' name) to replace the lack of credit expansion by the private sector.
I works for a while. It can work for decades, in fact. But it won't work forever. Eventually the currency collapses and Rome falls. Zerohedgers see this and complain about it, but it mostly falls on deaf ears.
The Krugmanites encouraged the majority of the world's middle class to borrow shitloads of money for housing and education, and to invest their savings in stock-based mutual funds and government bonds. They assured everyone that they would prosper this way. People believed it. Now, when anything threatens the valuations of housing, education, stocks, or government bonds the government is supposed to step in and borrow (or print) money to support the declining assets' valuations. These assets are leveraged to the hilt through debt, and if they are allowed to depreciate the "deflationary spiral" would be on and all Hell would cut loose in the global financial system.
You will notice that the most ardent Krugman supporters are heavily leveraged in housing, education, stocks, and government bonds.
You will also notice that guys like Krugman do not personally rack up huge debt or spend way beyond their means. Everyone else is supposed to do that, while they build up their own personal wealth by spending their own money frugally and staying out of debt.
you seem to have a good concept of the 'situation'.
How do we best proceed from here according to you ?
+1 for this erudite reply.
Any system based on the expansion of debt cannot be sustained indefinitely. The government has been trying to backstop this inevitability by pouring trillions into the service of this ponzi scheme, while the working classes are suffocating from the massive debt load and misallocation of resources.
Something has to give, and it will. There are only two ways out of this mess for a centralized control system of governments and banksters. The government can try to inflate its way out of this, which will destroy the currency and what wealth the populace still believes it has, or they can turn off the spigot and massive defaults and bankrupcies will occur, and the discharge of this capital from the system will cause a deflationary spiral to excelletate and destroy the system.
If anyone has a better plan, please speak up now.
I just googled your name, and have to say you must be 100 years old.
How did you do it?
And if you are so all-fired pissed off at ZH, you have missed the greatest opportunity to add to your personal wealth in your entire life.
ZH has been unerringly wrong. Now if you know the information you are getting is totally wrong, what should be your next move?
This is as good having an inside track to Bernanke, and J Yell's mind.
You aren't sophisticated enough to recognize a true source of information that makes one very rich by simply taking the other side of the bet.
You deserve to lose your money for being so insistent on being right instead of rich and happy.
John-
Zero Hedge serves a purpose. I don't think it is fair to call it a cult. For me it serves as a balance to what we hear from the MSM. I personally am not looking to this site for investment advice. I do believe we are in a place where significant change is going to be taking place. Four trends were in place before the Great Depression. 1) the rich got richer 2) investment shifts to speculation 3) soaring market credit 4) lagging business investment. These trends are in place. So perhaps I am looking for information to support my inclination that all is not well. So I am guilty in that respect.
I agree that some on this site have a Pavlovian Response to Krugman. I was a fan for a long time but until we control the banking industry and financial elites the wealth inequality will soar to a point where the system is in danger. I want to hear Krugman address the fact that those who control our money supply need to actually regulate the bankers under their charge. They have brought the system to the brink not once or twice but several times. This next time the U.S dollar could very well lose its status as the world reserve currency. China is the largest economy and will exert its desires. China is buying gold like crazy. I believe they will offer a currency backed with gold not bombs. The U.S. is not the same nation as it was during previous crashes and neither are the nations they held under their control.
The world has changed and it seems appropriate that the monetary system will follow.
No wonder that he is strongly against bitcoin.
Krugman is the false opposition to neo-liberal "free market" lunatics. Krugman a socialist? Hillarious!
http://www.counterpunch.org/2014/11/07/are-capitalists-nicer-these-days/
The real socialists have a very different perspective on things . . .
Rubbish
You can't have free markets if you have government. Either they are totally unfettered by government (show me one) or they are government run markets.
The world consists of government run societies plagued with government created problems.
No wonder he likes cats.
Propaganda is the predominant influencer of the prevailing politics under democracy. Krugman is a propagandist. The solution? Abandon democracy and adopt a republican form of organization ... as the constitution dictates. A republican form of organization (properly structured where people actually know their representative) is almost totally resistant to propaganda.
Madmen are ALWAYS dangerous men.
Total A hole
Just be glad Paul has chosen the life of a columnist rather than economics. The damage he could do if a President put him in charge of anything more than mopping the floor, is incalculable.
Ron,
Your opinion as to Krugman being the most dangerous man in America is simply that... opinion. But your assertion that "true conservatives" took over the GOP and fostered the "Reagan Revolution" as a result is simply bullshit. Reagan was just another figurehead... and a fine piece of propaganda at that.
The most dangerous think about Krugman is that he is mostly right. For sure an austerity charge would have make the situation untenable.
Austerity for YOU...tax cuts for the wealthy.
And NC for the dual citizenship criminals ransacking our government.
and Milton Friedman is a bastard too...
Greenspan use to be the Mestro. Then the crash and now he's out pimping gold. ??????
maintenance mode double post.......
Politics determines who has the power, not who has the truth. – Paul Krugman
Did he say this after learning that his teacher forgot the lesson plan and taught him lies, or after he did it too?
The film referred to in this article is Leni Riefenstahl's 1935 film "Triumph of the Will" about the Nazi Party Rally in Nuremberg.
I watched this film on youtube - "Triumph des Willens (1935) - Triumph of the Will"
https://www.youtube.com/watch?v=GHs2coAzLJ8
This film made me begin to ask a serious question... Is it the elected leaders we should be afraid of, or the people who elect them?
If you don't want to watch the whole thing just start watching at
http://youtu.be/GHs2coAzLJ8?t=1h33m5s
This seems to be a very popular thing said in speeches made by some of our lovely politicians nowadays.
http://www.reuters.com/article/2014/11/09/us-japan-economy-boj-idUSKBN0I...
Bank of Japan Governor Kuroda sprang easing surprise to head off damaging inflation forecast
By Leika Kihara
TOKYO Sun Nov 9, 2014 4:31am EST
(Reuters) - The Bank of Japan Governor not only surprised the markets with his latest splurge of monetary easing. He sprang it on his own board members just two days earlier, jolted into action to stop them making a low-ball forecast that might have sunk his flagship inflation target.
To achieve maximum effect for the shock decision, Haruhiko Kuroda and right-hand man Masayoshi Amamiya kept only a handful of elite central bank bureaucrats in the loop as they laid the ground for the expansion of their quantitative and qualitative easing (QQE) programme.
They didn't even give the usual forewarning to senior bureaucrats at the Ministry of Finance, according to interviews with nearly a dozen insiders and government sources with knowledge of the bank's deliberations.
No leaks reached the media, and the announcement at the Oct. 31 policy meeting pushed the Nikkei stock average to seven-year highs and the yen to seven-year lows against the dollar.
The market reaction will have been welcome news to Kuroda, but the impact he wanted above all was to alter inflation expectations in a country that has struggled with crippling deflation for two decades.
Timing was critical - and not of his choosing. At the policy meeting the board would also issue a new consumer inflation forecast for the next fiscal year, based on the median estimate from the nine members. But two days before publication, the preliminary estimate was only around 1.5 percent, three of the sources said.
That was well below the 1.9 percent forecast made in July, and if published could have been fatal to his key goal of hitting 2 percent from April next year. Since price expectations play a key role in the consumer behaviours that ultimately determine prices, doubts about the target could be self-fulfilling.