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"World-Leading Economist" And Advisor To Chancellor Osborne Busted For Smoking Crack

Tyler Durden's picture




 

All those times when the general population asks if panglossian, clueless economists are smoking crack... apparently there was a reason for that.

When the UK and the rest of Europe proposed and implemented a change to the way GDP is calculated last year (a change which single-handedly pushed Britain above France as the world's 5th largest economy) one which "estimated" the contribution of prostitution and illegal drugs to national economic output, little did we know that such "estimates" would be based on personal experience (also see "How Britain Calculates Its Hooker "GDP Boost": 60,879 Prostitutes x 25 Clients Per Week x £67.16 Per Visit").

Enter professor Douglas McWilliams, 63, head of the well-known Centre for Economic and Business Research (CEBR) think tank and one of the most prominent modern economists, in fact in his own words "one of the world’s leading economists...best known for his work in forecasting" as well as advisor (and cheerleader) to none other than UK Chancellor George Osborne.

First, a little background. From his CEBR background:

Douglas is one of the world’s leading economists and was chosen in 2012 from over 300 applicants to become the Gresham Professor of Commerce.

 

His Gresham lecture series ‘The world’s greatest ever economic event’ looking at the impact of globalisation on the Western economies has attracted widespread attention and large audiences. He covers all aspects of economics but is best known for his work in forecasting, the economics of the IT and telecoms sectors and transport economics and for his knowledge of the Far East economies. He works with clients who are particularly looking for an economist with a public presence to help make their case.

 

After setting up Cebr, he was our Chief Executive for 20 years. Previously he was Chief Economic Adviser to the Confederation of British Industry and Chief Economist for IBM UK. Douglas is famed for his communications skills and is one of the most widely quoted economists.

Yes, a "forecasting" economist. That in itself could have been the joke right there, but the real reason why we bring up Professor McWilliams is not due to his seasonally-adjusted oracular abilities but because as the Mail reports, this "world leading" economist also does whatever he can to boost UK GDP through the use of illegal narcotics, or to avoid the political correctness, crack cocaine.

A leading economist is to step down as executive chairman of an influential City think-tank amid drug abuse allegations.

 

Professor Douglas McWilliams, 63, revealed last night that he is to leave his role at the Centre for Economic and Business Research after footage emerged of him allegedly smoking crack cocaine in a north London drug den. The think-tank, which he founded in 1992, confirmed he will take a five-month sabbatical.

 

Professor McWilliams, who has also advised London Mayor Boris Johnson on housing, said last night he was ‘taking time off to deal with issues I have not had the chance to address fully when I have been in full-time work’.

 

It comes just two weeks before the launch of his book The Flat White Economy which tells how London swapped the City’s champagne and supercars lifestyle for bicycles and trendy flats.

Suddenly, the top echelon of politicians are doing everything they can to distance themselves as much as possible, starting with the UK's own Secretary of the Treasury. "Referring to reports that Professor McWilliams was an adviser to George Osborne, the spokesman added that ‘neither he nor any other member of CEBR staff has spoken to or met George Osborne since he became Chancellor’, but that CEBR has ‘briefed or advised all four major political parties’."

The two seen in happier times:

Douglas McWilliams arrives at his London home

Here is why the "world-famous economist" is suddenly non-grata, from the Sunday Telegraph:

One of Chancellor George Osborne’s senior advisers on economic policy has been captured on video smoking crack cocaine in a drugs den. Prof Douglas McWilliams, who last year ­estimated we would all be £165 a year better off by the election, is seen inhaling it through a glass tube at a flat in North London.

 

The executive chairman of influential City think-tank the Centre for Economic and Business Research then slumps dazed on a sofa after repeatedly smoking on the makeshift crack pipe involving a miniature Martell Cognac bottle.

 

Red-faced and slurring his speech, he later told the dealer he had “too much” and that he had spent the day on a binge.

 

Two rocks of the deadly drug can clearly been seen on a table beside the dazed professor. The grainy footage, seen by the Sunday Mirror, will heap embarrassment on the Chancellor and raise serious ­questions about his choice of adviser.

 

A source said: “Last Sunday McWilliams turned up at the den around 10pm and was there about a hour and a half. There were two rocks of the drugs. He smoked it over a table and then sat there all spaced out.

 

“He was in a suit and started talking about the economy and all that for about 20 minutes. He kept mentioning someone famous he worked with but didn’t make much sense. He was asked if he wanted any more and said ‘I’ve had too much’.”

Oh the irony:  On Christmas Day he tweeted about an Office for National Statistics decision to include earnings from drugs and the sex trade in economy figures. He wrote: “Prostitution and illegal drugs help UK overtake France in global wealth league.”

Little did the world know then that a small portion of the contribution was due to the "economist" himself.

Of course, none of this would actually be a problem and certainly worth the mention if only the CBER wasn't actually taken seriously. As the Mail reminds us, "the think-tank's website states: 'CEBR's clients are mainly public, private, government, professional bodies and third sector organisations. Most are UK based although several have a global reach. We advise 25 of the FTSE 100 companies.' It adds: 'We advise a number of UK government departments and independent government bodies. Recent projects include the Department for Business Innovation and Skills (BIS) and Arts Council England.'"

In December the CEBR claimed Britain's economy would be larger than Germany's by 2030, and suggested that the UK overtook France in 2014 to become the world's fifth largest economy.  That would mean smoking a whole lot of crack in the next 15 years...

* *  *

The worst news is that now that the entire world has become one massive, and terminal, experimental playground for precisely these Keynesian fanatic world-leading economists, crack cocaine addicted "central planners" is just one more reason why 7 years after QE was started, everyone - except for the 0.01% of course - is wondering: why has nothing been fixed yet? For the answer, please check your local opium den: chance are you will run into at least one "world-respected" economist.

 

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Mon, 03/02/2015 - 16:17 | 5846641 Shizzmoney
Shizzmoney's picture

I mean, this isn't a shock.

Anyone who calls this a "recovery", especially in the UK, *has* to be smoking something.

Mon, 03/02/2015 - 16:21 | 5846670 Canadian Dirtlump
Canadian Dirtlump's picture

I would have expected him to be snorting it instead of sucking the glass dick though. The upshot is he has a bright political future in canada.

Mon, 03/02/2015 - 16:26 | 5846712 PartysOver
PartysOver's picture

Is he BFF with Mayor Ford.  Just asking.

Mon, 03/02/2015 - 16:29 | 5846735 Son of Loki
Son of Loki's picture

"Mr McWilliams could not be reached for comment."

Mon, 03/02/2015 - 16:33 | 5846758 ParkAveFlasher
ParkAveFlasher's picture

"Ay yo, Whitey's at the do'.  Muthafucka be tremblin' an' shi'."

Mon, 03/02/2015 - 17:04 | 5846949 PAPA ROACH
PAPA ROACH's picture

Too bad the camera didn't pan over a bit, it would have shown his buddy Krugman with 5 rocks!!

Mon, 03/02/2015 - 17:21 | 5847046 pods
pods's picture

Was it:

"The bitch set me up"

or

"Bangin seven gram rocks."

Either way, Winning.

pods

Mon, 03/02/2015 - 17:58 | 5847158 NoDebt
NoDebt's picture

This dude has to go to a crack house?  He couldn't have gotten it delivered to a place of his choosing?  Shit even I could get it delivered, if I wanteed it, and I've been out of circulation for almost 2 decades.

That's nuts.  There's more going on here than just a drug addiction.  This dude has some other kind of issues.  I mean other than being an economist, poor wretch.

 

 

Mon, 03/02/2015 - 18:09 | 5847213 Againstthelie
Againstthelie's picture

Democracies elite.

Mon, 03/02/2015 - 18:56 | 5847401 Pure Evil
Pure Evil's picture

So what's worse?

Being a political elitist pedophile?

Or a "forecasting" crack head economist?

Mon, 03/02/2015 - 19:42 | 5847580 NidStyles
NidStyles's picture

What makes you think he isn't both?

Mon, 03/02/2015 - 20:02 | 5847662 turnoffthewater
turnoffthewater's picture

Lying is hard for honest people

Mon, 03/02/2015 - 21:59 | 5848023 palmereldritch
palmereldritch's picture

He did some of his best work in that crack den

Mon, 03/02/2015 - 19:45 | 5847590 jez
jez's picture

"Hey white boy, what you doin' uptown?

Hey white boy, you chasin' our women around?"

(Lou Reed)

 

But in any case, after making hedonic adjustments and seasonal adjustments, I discover that he wasn't actually smoking anything at all.

That's economics in action.

Mon, 03/02/2015 - 16:33 | 5846761 Pladizow
Pladizow's picture

Well, Yeah! How else could you explain Keynesianism?

Mon, 03/02/2015 - 16:36 | 5846785 Xibalba
Xibalba's picture

exactly

Mon, 03/02/2015 - 16:41 | 5846816 smlbizman
smlbizman's picture

nothing 28 days in the marian barry rehab center cant fix....

Mon, 03/02/2015 - 16:54 | 5846896 WTFRLY
WTFRLY's picture

Just saved 15 pounds by switching to crack!

Mon, 03/02/2015 - 17:07 | 5846962 TruthInSunshine
TruthInSunshine's picture

Hedonic adjustment!

Mon, 03/02/2015 - 17:10 | 5846981 Tall Tom
Tall Tom's picture

Sucking the Glass Dick.

 

Ooooh...But that orgiastic feeling is just sooooooo goooooood.

Mon, 03/02/2015 - 22:14 | 5848058 Anonymous_Benef...
Anonymous_Beneficiary's picture

Crackhead does the shmoney dance while hitting crackpipe in public..

https://www.google.com/search?q=crackhead+does+shmoney+dance&ie=utf-8&oe...

Mon, 03/02/2015 - 17:34 | 5846965 Tall Tom
Tall Tom's picture

Actually it does make sense that these guys are smoking Crack Cocaine.

 

How can you have unbridled entushiasm about how well things are going when it is apparent that the nonsense that you spout off has no basis in reality?

 

Irrational exuberance is just a polite way of saying that someone has been Sucking upon the Glass Penis and is suffering from the Manic Psychosis of the Crack Cocaine experience.

Mon, 03/02/2015 - 16:37 | 5846792 Canadian Dirtlump
Canadian Dirtlump's picture

I recall reading that back in the day Keynes and other men of reknown used to get together and get squirreled out on whatever they could get their hands on then have bum dart tournaments.

 

Some things never change I guess. Every one of those fuckers is compromised and is in to SOMETHING.

Mon, 03/02/2015 - 17:05 | 5846951 Herd Redirectio...
Herd Redirection Committee's picture

How do you get into 'The Club'? Simple.  Start w/ a  perverse hobby, allow them to take pictures of you engaged in said hobby, and voila, you will now be offered whatever it is your heart desires.  You are now easily compromised, so they have no qualms 'making you', because what they 'make', they can 'break'.

This is why sociopaths find entry to the club so easy.

Mon, 03/02/2015 - 17:31 | 5847088 NotApplicable
NotApplicable's picture

Blows my mind how this isn't obvious to everyone. Ritual initiations exist for a damn good reason.

Mon, 03/02/2015 - 17:54 | 5847156 Fun Facts
Fun Facts's picture

we are ruled by crackheads, homicidal maniacs and pedophiles. Pick your perversion. The worst humanity has to offer.

This is why no one should expect a good result going forward and why we aren't having a good result now.

Mon, 03/02/2015 - 18:18 | 5847255 TheFourthStooge-ing
TheFourthStooge-ing's picture

Ain't democracy great?

Mon, 03/02/2015 - 18:23 | 5847278 Fun Facts
Fun Facts's picture

Let Freedum ring in Rahm Emanuel's Chicago Torture Center

Mon, 03/02/2015 - 17:58 | 5847171 Canadian Dirtlump
Canadian Dirtlump's picture

Want to come over, splut a bottle of nyquil and watch some movies?

Mon, 03/02/2015 - 17:10 | 5846976 Wait What
Wait What's picture

cocaine and opium were all the rage during keynes' time. now it's crack and heroin. it seems hedonic adjustments are not without a sense of irony.

find a copy of Uber Coca by Freud. a good read.

Mon, 03/02/2015 - 16:48 | 5846865 ILLILLILLI
ILLILLILLI's picture

Comedy gold...!

Mon, 03/02/2015 - 16:48 | 5846867 Chupacabra-322
Chupacabra-322's picture

"I would have expected him to be snorting it instead of sucking the glass dick though."

@ Canadian,

Funny you should mention that. One Criminal Psychopath smokes from a Glass dick & the other (Obama) just smokes Reggie's Cock.

Mon, 03/02/2015 - 16:57 | 5846907 TheFourthStooge-ing
TheFourthStooge-ing's picture

Not a big deal. He's on the Chancellor's team of crack economists.

Mon, 03/02/2015 - 17:09 | 5846972 Carl Spackler
Carl Spackler's picture

Finally, Larry Kudlow has a fellow economist with whom he can party.

Mon, 03/02/2015 - 16:22 | 5846674 NotApplicable
NotApplicable's picture

Keynsian crack-heads, FTMFW!

Monetary crank, indeed.

Mon, 03/02/2015 - 16:37 | 5846795 BorisTheBlade
BorisTheBlade's picture

It makes perfect sense actually. It all adds up now. Crack, whores and mirrors.

Mon, 03/02/2015 - 16:23 | 5846690 TideFighter
TideFighter's picture

Damn he looks like Philip Seymour Hoffman.

Mon, 03/02/2015 - 16:29 | 5846737 booboo
booboo's picture

all junkies look the same, hopium comes in many forms, the last one comes with a toe tag.

Mon, 03/02/2015 - 16:30 | 5846746 Buckaroo Banzai
Buckaroo Banzai's picture

Looks more like Brian Cox.

Mon, 03/02/2015 - 16:41 | 5846819 Skateboarder
Skateboarder's picture

I'm thinking Dr. Rockso.

Mon, 03/02/2015 - 16:28 | 5846713 TomGa
TomGa's picture

It's all smoke and mirrors, and, uh, razorblades..

Mon, 03/02/2015 - 16:31 | 5846750 Miss Expectations
Miss Expectations's picture

...and minors

Mon, 03/02/2015 - 17:50 | 5847149 The.Harmless.Jew
The.Harmless.Jew's picture

 

Anyone who calls this a "recovery", especially in the UK, *has* to be smoking something.

Hear Hear! +100  They have a thing here called "Zero Hours Contract" (think "On the Water Front" - waiting by the dock for that tap on the shoulder for a day's pay). This is usedto lower the unemployment count (just like the US fiddles with the Employment data to hide participation rates, the UK also tries to be, how does one put it? "Creative") The afflicted would be angry, feeling shame perhaps?  No! They've got facebook, and mobile phones and "insert-your-country-here-got-talent"
Mon, 03/02/2015 - 18:14 | 5847236 pendragon
pendragon's picture

yes and it works. now crawl back under your muslamic rock isil lapdog.

Mon, 03/02/2015 - 18:20 | 5847263 The.Harmless.Jew
The.Harmless.Jew's picture

 

 

WTF is your malfunction pendragon??? 

 

what's a "muslamic" anyway? Is it a Jewish Sect I've not heard of. 

 

Wishing you good mental health - but that really is wishful thinking! 

 

Signed, 

 

The Harmless Jew.

 

 

Mon, 03/02/2015 - 18:44 | 5847359 ColoQ
ColoQ's picture

Another conspiracy theory becomes conspiracy fact.

Mon, 03/02/2015 - 16:18 | 5846647 whatsinaname
whatsinaname's picture

He was just helping boost the GDP. 

Mon, 03/02/2015 - 16:19 | 5846659 agent default
agent default's picture

Now I am finally beginning  to understand economists.

Mon, 03/02/2015 - 16:27 | 5846717 NotApplicable
NotApplicable's picture

As well as their visions of manipulating aggregates.

Mon, 03/02/2015 - 16:20 | 5846662 Chuck Knoblauch
Chuck Knoblauch's picture

He picked the wrong week to quit sniffing glue.

Mon, 03/02/2015 - 16:20 | 5846666 TomGa
TomGa's picture

Just doing his part to keep the underground economy cracking.

Mon, 03/02/2015 - 16:21 | 5846673 SheepDog-One
SheepDog-One's picture

Ohhhh Lawdy Lawdy.....the glass dick of the damn DEBIL done got him!!

Mon, 03/02/2015 - 16:21 | 5846676 czarangelus
czarangelus's picture

If doing cocaine is really a sin - which I very much doubt despite the shrieking opprobrium of the moralist busybodies - it's certainly the least of all sins attributable to the bankers.

Mon, 03/02/2015 - 16:26 | 5846714 ParkAveFlasher
ParkAveFlasher's picture

Yes, because crack has no effect on judgement.  /s

Mon, 03/02/2015 - 17:04 | 5846948 czarangelus
czarangelus's picture

Of course crack has an effect on judgement. Why is that prima facie evidence it should be banned? Caffeine has an effect on judgment. So does highly refined sugar, or television. You're blaming a plant where the problem is the person.

Mon, 03/02/2015 - 17:29 | 5847076 ParkAveFlasher
ParkAveFlasher's picture

I'm not blaming anything, Mr. Deceptive Presumer.

Mon, 03/02/2015 - 17:31 | 5847079 Tall Tom
Tall Tom's picture

You're blaming a plant where the problem is the person.

 

The Plant is okay. Hell he could have enjoyed a Coca Cola in the original formulation. That is not a problem.

 

But the refined product overloads the Neural System. It is thousands upon thousands of times as strong as the naturally occuring alkaloids found within the plant.

 

You write about Caffiene? Using Coffee one is not going to overdose or experience psychotic delusions.

 

But taking too much No Doz will fuck you up as it is the refined product. The beneficial effects of Caffiene in low dosages upon judgment have been proven to outweigh the bad effects. But Caffiene is also highly physically addictive in even low dosages.

 

But in major doses of Caffiene, overdoses, the consequences of refined Caffiene, as well as refined Cocaine, are fatal.

 

As for these substances being illegal? I DO NOT SUPPORT THAT.

 

In fact if you want to use Crack Cocaine then you should have it available to you, cheaply, and in abundance.

 

You have the right to kill yourself and knock yourself out if that is your desire. I cannot care less.

 

But just do not DEMAND that I PAY FOR IT.

 

Understood?

Mon, 03/02/2015 - 22:45 | 5848118 Anonymous_Benef...
Anonymous_Beneficiary's picture

We all pay for the negative effects of the black market for drugs instituted by statute and code.

Overnight, legalizing drugs would eliminate all incentive to traffic.

Mon, 03/02/2015 - 17:33 | 5847096 Overflow-admin
Overflow-admin's picture

Err, you will refer to ISSUES and not people. Thank you.

https://www.youtube.com/watch?feature=player_embedded&v=1L-6JBh2mJU

Oh and drugs are BAD! BAD! BAD! BAD! But no people issues kthxbai.

Mon, 03/02/2015 - 19:46 | 5847599 lotsoffun
lotsoffun's picture

the czar has a point.  similar to the one that you are blaming guns, when you should be blaming bullets.

if you don't load the gun, nobody gets killed.

 

Mon, 03/02/2015 - 16:49 | 5846869 booboo
booboo's picture

Considering the State sends people to jail under the laws instituded by man and bible's are rarely turned down in prison by people looking for forgivness you are the one shrieking, but nice distraction from the truth, you must work for the government.

 

Mon, 03/02/2015 - 16:52 | 5846884 MsCreant
MsCreant's picture

While I generally agree with you, hypocracy is as hypocracy does.

Mon, 03/02/2015 - 17:10 | 5846978 JimBowie1958
JimBowie1958's picture

'Least of all sins attributable to bankers'?

Who the fuck are you kidding? Wall Street is full of crackheads, junkies, dopers  whores...... just like DC is.

Mon, 03/02/2015 - 16:21 | 5846677 RabbitChow
RabbitChow's picture

Just what was he smoking, anyway?

Mon, 03/02/2015 - 16:22 | 5846681 EHM
EHM's picture

Ticket to ride a white-line highway
tell all your friends they can go my way
Pay your toll, sell your soul
pound for pound it costs more than gold.

Mon, 03/02/2015 - 16:22 | 5846683 Mike Masr
Mike Masr's picture

Maybe he picked up the habit partying with Barry?

Mon, 03/02/2015 - 16:27 | 5846722 davidalan1
davidalan1's picture

Which barry? do you mean the infamous-- "fucking bitch set me up, barry? OR.........

Mon, 03/02/2015 - 16:22 | 5846684 ParkAveFlasher
ParkAveFlasher's picture

I've been doing it wrong all these years, sobering up and putting my nose to the grindstone ... it'd be better put following lines of coke down a hooker's powdered cleavage.  Maybe I'd GET that raise.

Mon, 03/02/2015 - 16:51 | 5846874 MsCreant
MsCreant's picture

You'd probably get a raise alright...Flashers like that...

Mon, 03/02/2015 - 16:58 | 5846913 booboo
booboo's picture

In government work you can't be fired so promotions are a form of sanction. So if you are at the top of the governmental pyramid you are real fuck up. If you are mid level you are too much of a pussy to make waves to get promoted and if you are a low level government employee you are too brain dead to matter. Hope that clears things up for you fuck nuts at NSA.

Mon, 03/02/2015 - 16:23 | 5846688 Decimus Lunius ...
Decimus Lunius Luvenalis's picture

The Fed fully supports this according to its research on doing blow and risk-taking in the markets.

Mon, 03/02/2015 - 16:23 | 5846691 Armed Resistance
Armed Resistance's picture

Sad to be sure, and totally different from how Barry Obama smokes a butt crack!

Mon, 03/02/2015 - 16:24 | 5846699 Frank N. Beans
Frank N. Beans's picture

I sense a crack in the farce.

Mon, 03/02/2015 - 16:47 | 5846851 Jethro
Jethro's picture

as if the opinions of hundreds of economists suddenly went up in smoke.

Mon, 03/02/2015 - 16:25 | 5846700 asscannon101
asscannon101's picture

OK, crack usage explains this jack-off's delusional rantings- now what about Krugman's?? Chronic taint-licking??

Mon, 03/02/2015 - 16:26 | 5846710 SheepDog-One
SheepDog-One's picture

Crystal meth?

Mon, 03/02/2015 - 16:29 | 5846733 ParkAveFlasher
ParkAveFlasher's picture

My call on K-Rug is horse tranqs with a side of Nitrous.  Look at the hair, the eyes, the cat, the blog, etc.

Mon, 03/02/2015 - 16:33 | 5846764 Buckaroo Banzai
Buckaroo Banzai's picture

I say ether.

"There is nothing more helpless and irresponsible than a man in the depths of an ether binge." -- Hunter S. Thompson

Mon, 03/02/2015 - 16:54 | 5846895 Al Huxley
Al Huxley's picture

I logged in just to up-arrow you for the quote.

Mon, 03/02/2015 - 17:41 | 5847126 Tall Tom
Tall Tom's picture

DMT...Di-methyl-tryptamine

 

At times he sounds rational...by declaring the the USA is in a DEPRESSION.

 

But DMT will cause LUNACY when abused.

 

The Businessman's Acid.

Mon, 03/02/2015 - 17:57 | 5847168 malek
malek's picture

+1 for K-Rug

Mon, 03/02/2015 - 16:24 | 5846701 Tinky
Tinky's picture

The story is spun wrong – at least he has an excuse! What excuse do sober economists have?

Mon, 03/02/2015 - 19:49 | 5847621 NidStyles
NidStyles's picture

Sober economists are Austrians.

Mon, 03/02/2015 - 16:24 | 5846703 davidalan1
davidalan1's picture

"Worlds leading economist"...as much meaning as nobel prize winner it seems

Mon, 03/02/2015 - 16:29 | 5846734 NotApplicable
NotApplicable's picture

"Far out, man!"

Mon, 03/02/2015 - 16:24 | 5846705 Hulk
Hulk's picture

Another conspiracy theory becomes conspiracy fact: They be smokin crack !!!

Mon, 03/02/2015 - 16:43 | 5846831 BorisTheBlade
BorisTheBlade's picture

Positive, but see, they do it boost our GDP.

Mon, 03/02/2015 - 17:59 | 5847176 malek
malek's picture

At least the "GDP" adjusted for hookers and blow.

Mon, 03/02/2015 - 16:27 | 5846718 Jack Daniels Esq
Jack Daniels Esq's picture

Musk relieved the Pom didnt smoke all the crack

Mon, 03/02/2015 - 16:27 | 5846720 RealityCheque
RealityCheque's picture

Gideon Osbourne (the cunts' real name) is a well known cokehead. None of this is a surprise to anyone who understands anything about UK politics. 

It is however, hilarious. Hope he has an overdose next time.

Mon, 03/02/2015 - 16:28 | 5846728 IridiumRebel
IridiumRebel's picture

I thought they all smoked crack; it's a given. Look at the unicorn feces they pass as sound banking! Crack addicts all, whether cocaine or pushing convoluted banking instruments of unicorn dung.

Mon, 03/02/2015 - 16:28 | 5846730 hotrod
hotrod's picture

No doubt Greenspan spent some time in the Strawberry Fields.

Mon, 03/02/2015 - 16:30 | 5846739 Miss Expectations
Miss Expectations's picture

How does a 63 year old get involved with crack?  Must have been involved with a prostitute, I mean a crack whore.

 

Mon, 03/02/2015 - 16:54 | 5846872 Global Hunter
Global Hunter's picture

The street dealers often have crack (they call it "hard" here) I think for convenience and demand on the street but the powder form (called "soft" here) you'd snort sometimes runs out even if only for a day or so. 

On a binge his regular dealer shows up and says "small problem I couldn't get the powder but I've got this hard form (crack)", the regular user of cocaine has been jumping through his skin in expectation of getting some cocaine makes a quick decision, either spend the next hour or two trying to corral some dealers with cocaine or give the crack a go. 

Addicts/users who are getting anxiety for a fix will usually try the crack no matter the age.  I've seen it before...

Mon, 03/02/2015 - 16:30 | 5846741 Son of Loki
Son of Loki's picture

He watched too many episodes of BB.

Mon, 03/02/2015 - 16:30 | 5846743 youngman
youngman's picture

This is added to the GDP ...right..so it is a good thing...he needs hookers too...

Mon, 03/02/2015 - 16:30 | 5846744 thestarl
thestarl's picture

I'll stick to my reefer ain't messin around with no cocaine

Mon, 03/02/2015 - 16:30 | 5846745 Hohum
Hohum's picture

Very economic.  Crack is relatively inexpensive, hence its popularity in the 1980s.

Mon, 03/02/2015 - 16:31 | 5846747 Laughinggrizzley
Laughinggrizzley's picture

Tyrone Biggums: Remember what the Bible says: He who is without sin, cast the first rock. And I shall smoketh it.

Mon, 03/02/2015 - 16:32 | 5846751 thunderchief
thunderchief's picture

Yep,

That's what you call a crack up boom.

These idiots do not even have the decency to smoke weed.

 

Mon, 03/02/2015 - 16:32 | 5846756 f16hoser
f16hoser's picture

FIAT Currency "Up In Smoke!"

Bring back Cheech and Chong!

Mon, 03/02/2015 - 23:36 | 5847900 acetinker
acetinker's picture

HeHe, Up In Smoke.

How 'bout Blackberry Smoke?

https://www.youtube.com/watch?v=IuujxNDydm0

edit:

Seems nobody gives a shit, but Blackberry Smoke owes its' name to Rich Robinson.  Rich, and his younger brother Chris, are the founding members of The Black Crowes.  Chris married Goldie Hawn's daughter... remember?

Rich and Charlie were schoolmates at Wheeler High, IIRC.

If you're wondering who Charlie is-  he's the lead protagonist in Blackberry Smoke.

For some reason, he assumed the name Charlie Starr- when his family name is Gray.

Maybe it's the same reason Richard Starkey became Ringo Starr, but I still don't get it.

Mon, 03/02/2015 - 16:33 | 5846765 Miss Expectations
Miss Expectations's picture

I love this story.

Mon, 03/02/2015 - 16:33 | 5846767 Monty Burns
Monty Burns's picture

 

"World-Leading Economist" And Advisor To Chancellor Osborne Busted For Smoking Crack

This is a headline??  I had assumed that all world-leading economists were on crack.  Must have been wrong......

Mon, 03/02/2015 - 16:34 | 5846768 yogibear
yogibear's picture

"economists are smoking crack"

For sure! And doing Heroin.

Mon, 03/02/2015 - 16:36 | 5846769 Nobody For President
Nobody For President's picture

You just can't make this shit up.

Don't know if WB can improve on this 'news'...

Mon, 03/02/2015 - 16:34 | 5846774 rlouis
rlouis's picture

Can't wait for the picture of Krugman smoking crack - then I will have been proven correct. 

 

Mon, 03/02/2015 - 16:35 | 5846780 Seal
Seal's picture

We need some one armed economists

Mon, 03/02/2015 - 16:36 | 5846781 Manipulism
Manipulism's picture

Maybe he is in the "children fucking/killing business" too, like the rest of the bunch.

Mon, 03/02/2015 - 16:36 | 5846786 gcjohns1971
gcjohns1971's picture

Well...

...been saying the bankers were high on crack for years.

Mon, 03/02/2015 - 16:36 | 5846789 WillyGroper
WillyGroper's picture

What was the crack's name that he was smoking & were they equipped with any silvadine?

Mon, 03/02/2015 - 16:36 | 5846790 yogibear
yogibear's picture

So Economist are future druggies.

Mon, 03/02/2015 - 16:38 | 5846800 NaN
NaN's picture

The elite have such long leashes.

Sounds like he was either trying to recover from his binge to get back to the office or trying to extend the binge.

Mon, 03/02/2015 - 16:39 | 5846802 MsCreant
MsCreant's picture

You cannot make this stuff up they would not believe you. 

Must smoke crack with Krugman. It is all starting to make some sense finally.

Mon, 03/02/2015 - 16:39 | 5846808 RogerMud
RogerMud's picture

"Here is why the "world-famous economist" is suddenly non-grata, from the Sunday Telegraph"

 

That is just the how, for sure there's another reason why.

Mon, 03/02/2015 - 16:41 | 5846813 SilverMoneyBags
SilverMoneyBags's picture

Throw him in jail for life like any government would do for such an offense.

Mon, 03/02/2015 - 16:43 | 5846832 El Hosel
El Hosel's picture

Finally, some news that makes sense.

Mon, 03/02/2015 - 16:44 | 5846834 Jethro
Jethro's picture

HAHAHAHAHAHAHAHAHA.  Damn....

Mon, 03/02/2015 - 16:44 | 5846838 thamnosma
thamnosma's picture

Smoking crack is so low.  He couldn't afford some good cocaine?  Sheesh.  How embarrassing.  Colombians call the stuff "basura" for a reason.

Mon, 03/02/2015 - 16:46 | 5846844 Glass Seagull
Glass Seagull's picture

 

 

A 5-month sabbatical with his long time buddy, Rob Ford

Mon, 03/02/2015 - 16:46 | 5846846 e_goldstein
e_goldstein's picture

 I am Jack's complete lack of surprise.

Mon, 03/02/2015 - 16:47 | 5846858 Lea
Lea's picture

Well, now that we're done uncovering the dope in the UK establishment, we can get on with the pedophilia.

Mon, 03/02/2015 - 16:54 | 5846890 ncdirtdigger
Mon, 03/02/2015 - 16:51 | 5846873 Seasmoke
Seasmoke's picture

Wi Tu Hi. 

Mon, 03/02/2015 - 16:51 | 5846878 Monetas
Monetas's picture

Fuck Big Crack !

Mon, 03/02/2015 - 16:52 | 5846879 DontFollowMyAdv...
DontFollowMyAdviceImaDummy's picture

KNOCK ME OVER WITH A FEATHER!!!  You mean to tell me a guy who was part of the group that supported the "you can spend your way out of debt" idea IS ON CRACK?!  i seriously gigglesnorted out loud reading this confirmation of everything anyone needs to know about why QE is a bad thing... at least it all makes sense now, crackheads control world economic ideas.

Mon, 03/02/2015 - 16:52 | 5846881 Darkagera
Darkagera's picture

we're living in a country run by the tory freak brothers.... but it's not funny.

Mon, 03/02/2015 - 17:08 | 5846956 Monetas
Monetas's picture

When PM "Sell Gold at the bottom" Brown was caught on video .... sneaking a booger .... then eating it .... in Parliament .... I was a little embarrassed for my race .... later, I realized .... it was the most endearing thing he ever did ! LOL

Mon, 03/02/2015 - 16:56 | 5846898 Atomizer
Atomizer's picture

Chancellor Pinkman Osborne

Breaking Bad

Mon, 03/02/2015 - 17:02 | 5846932 pot_and_kettle
pot_and_kettle's picture

Did someone turn him in because he was bogarting the pipe?

Mon, 03/02/2015 - 17:08 | 5846971 IndianaJohn
IndianaJohn's picture

Crackpot economics shows it's core.  I sort of wonder what the "war is gonna make us all rich" economists could be deluded with?

But enough of those freaks. I'm down to the cellar with my cup. Prosit !

Mon, 03/02/2015 - 17:49 | 5847148 Al Tinfoil
Al Tinfoil's picture

"Crackpot" economics.  +100

Mon, 03/02/2015 - 17:14 | 5847003 Yancey Ward
Yancey Ward's picture

And I had thought the central bankers must be figuratively smoking crack!

Mon, 03/02/2015 - 17:18 | 5847026 Whalley World
Whalley World's picture

As her blathers on about economic's, those in the room say Shut the Fuck Up Bro, who gives a shit what a crackhead has to say.

Mon, 03/02/2015 - 17:26 | 5847070 natty light
natty light's picture

I assumed Krug man did.

Mon, 03/02/2015 - 17:38 | 5847113 dreadnaught
dreadnaught's picture

well, there you have it-the elite do hard drugs and young children- 

Mon, 03/02/2015 - 17:49 | 5847147 Atomizer
Atomizer's picture

Our Paul Krugman has been calling out a George Orson Welles [Alien Invasion] to turn US economy around in eighteen months. Drug abuse is treatable, not mental illness.

 

How to Fix the Economy (part 1 of 2)-- August 14, 2011

How to Fix the Economy (part 2 of 2) -- August 14, 2011

Mon, 03/02/2015 - 17:58 | 5847175 tarabel
tarabel's picture

 

 

Yeah, he went to college which means he does drugs, big deal.

 

What's important is that he needed to do it in what used to be known as an opium den rather than having his friendly dealer deliver it to his house where he could lift off in private.

This speaks of a serious fetish issue that goes way beyond cooking up a few foils. He probably likes being caught and would prefer a spanking, hard please.

Mon, 03/02/2015 - 18:52 | 5847396 SmedleyButlersGhost
SmedleyButlersGhost's picture

Whoa - I thought this news flash was a ' you can't make this shit up' but you're taking this to a new level. Wow - I really don't get out enough

Mon, 03/02/2015 - 18:13 | 5847233 Hannibal
Hannibal's picture

Dutch embassy smokes DC mayor’s office over pot remark

"Officials in Washington, DC say the district’s new lax marijuana rules are a far cry from what’s on the law books in Amsterdam, but the Dutch embassy begs to differ.

As of last week, adults in the United States capital could legally possess up to two ounces of marijuana but are still barred from smoking up in public. In preparing the city for the shift in policy, Mayor Muriel Bowser said last week that DC won’t become “like Amsterdam,” where pot shops aplenty have made the Netherlands a tourist destination for weed enthusiasts.

On Thursday, the Dutch embassy in DC published a blog post where its authors alleged that being “like Amsterdam” is anything but bad."

http://rt.com/usa/236977-amsterdam-washington-dc-marijuana/

An accompanying chart – dubbed a “trolly infographic” by the Washington Post’s Wonk blog – has since made waves on the internet, and not just on the foreign embassy blogosphere: Other sites have since picked it up as well.

Mon, 03/02/2015 - 18:18 | 5847250 Jimmy Twinkle
Jimmy Twinkle's picture

Whose idea was it to include hookers and blow in the GDP figures?

Mon, 03/02/2015 - 18:27 | 5847294 smacker
smacker's picture

With all the rumours doing the rounds - which won't go away - about Cameron and Osborne being partial to Colombian Marching Powder, obviously McWilliams didn't want to be left out and seen by them as an old stick-in-the-mud.

When the UK economy finally cracks up, we'll know what he means.

Mon, 03/02/2015 - 18:32 | 5847316 ColoQ
ColoQ's picture

NEWS FLASH: Another conspiracy theory becomes conspiracy fact - Worlds leading economists are smoking crack.

Mon, 03/02/2015 - 19:50 | 5847627 radiobomb
radiobomb's picture

ColoQ, been saying that virtually every ZH article recently !!!  

btw is this economics on the rocks ?

Mon, 03/02/2015 - 18:41 | 5847350 TheObsoleteMan
TheObsoleteMan's picture

They're all on crack.

Mon, 03/02/2015 - 19:33 | 5847538 Irishcyclist
Irishcyclist's picture

A chap who I was in prison with claimed to be a supplier to two future Irish prime ministers. I don't doubt that what he said was the truth.

Mon, 03/02/2015 - 19:38 | 5847566 SmedleyButlersGhost
SmedleyButlersGhost's picture

Tea shop guy Gerry or Martin?

Mon, 03/02/2015 - 19:44 | 5847578 Irishcyclist
Irishcyclist's picture

No. Both politicians have already been prime minister. The guy who sold to them did so before they became prime minister.

Mon, 03/02/2015 - 19:45 | 5847592 SmedleyButlersGhost
SmedleyButlersGhost's picture

Sorry - your latest school teacher TeaShop Enda - where is he going? And Noonan being a financial light at the EU - really?

Mon, 03/02/2015 - 19:49 | 5847622 Irishcyclist
Irishcyclist's picture

Keep fishing.

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