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Because a broken picture is worth a thousand Econ PhD essays
(h/t Simon Black at Sovereign Man Blog)
Keynes - Paedophile and fraudster extraordinaire.
And if you break the glass and sweep it up, the government will send you a check.
A more appropriate picture would show thousands of tiny spoons n brooms, so that more could be employed.
The broken window fallacy: http://www.youtube.com/watch?v=gG3AKoL0vEs
But this solution is way less destructive than anything Obama has implemented.
And if you cut yourself cleaning up the glass, you can get Workers Compensation
And then disability.
"They" built that!!!
In today's America, Chinese made sweeper from Walmart will fall apart when you try to use it, so you have to drive to a box store in a 15mpg SUV, park your car in the handicap spot because you are morbidly obese and that makes you "disabled"
then proceed to spend 15minutes searching and finally checking out another sweeper, then you stop by home depot parking lot to hire illegal immigrant to sweep up broken glass so that you can watch some NBC bullshit drama about some olympic athlete's family history with annoying commentary about how Trampoline somehow became an Olympic sport.
And then you lecture your illegal immigrant sweeper guy about stuff you read on zero hedge, and if he nods you give him extra dollar and you put a picture of the new sweeper on facebook so that every bored housewife in the world can read about it.
15 mpg in an SUV??? That's awesome!
This also employs bandaid makers, doctors and nurses.
0% unemployment, here we come!
In the USSR everyone had a job! They would say 'we pretend to work, and they pretend to pay us'.
Humor appreciated, but the homeless/jobless underground society of the USSR in its later years is a fascinating subject.
You can't be unemployed. We stopped counting you months ago.
or you can be like germay and don't count those who are receiving state money for retraining.
or you can be like the military and make it "honorable" to be unemployed......when you get laid off from the military they call it "honorably discharged" which means they are done kiling for now, so you got laid off.
but hungry people don't stay unemployed.....
so do smart young kids with phD in neuroscience become unemployed in Colorado......
You make aome valid points, but I had to junk ya. The shit in CO was a psyop - it wasn't real (in the sense that a single unemployed 24yo put that whole show together by himself).
Interesting, but Conservapedia is a very subjective neocon site with a lot of misinformation. If you are a fiscally conservative libertarian, stay far away (or at least be very skeptical).
here's more, and the comments are even more interesting
Old President BO is a queer as well. His family is just a front to make him acceptable. He and the Israeli terrorist/mayor of Chicago Rahm Israel Emanuel were both members of a gay bathhouse in Chicago. He's a fitting follower to George Bush Jr. who also likes getting it up the ass and who only married for the sake of convention.
they do like putting people that are subject to being controlled into places of power - what better than pure bottoms that have a need to be lead and who avoid direct responsibility
A sweeping generalisation of more pane to come...
then stick broken glass up Krugman's ass
So Krugman CAN create shovel-ready jobs after all!
who shoveled that rag onto his head?
What does it say in the Austrian box? ..."In case of hunger, break glass and eat gold".
In the Austrian box, it says "in case of recession, leave the free market alone and stop inflating the currency."
The current recession was initiated by money-printing by the Fed which created the real estate and equity bubbles that burst in 2007-2008. The Great Depression was also the result of the then newly created Fed printing money.
And like the Great Depression, the current recession has been greatly aggravated and prolonged by the subsequent leftist meddling of the Executive branch. (Read Profs. Lee Ohanian and Harold Cole WSJ piece dated 9/26/11 "Stimulus and the Depression on how FDR prolonged the Depression.)
Depressions are caused by Government (the Fed) and prolonged by Government meddling in the private sector.
Right you are my son - hit them in the antenna, they're useless without it.
Shovel ready jobs..
Like digging mass graves?
Don't forget to order another piece of glass after breaking it so you can keep aggregate demand for breakable glass up! Also, remember to break & order often!
lol...you didn't make that glass!!!
And if you bought it, someone helped you along the way to make it possible.
Thats right, someone needed labor and was willing to pay me in the "coin of the realm" so I could buy it.
Its really a beautiful thing ;-)
But if we told O'KrugNanke to all go 'pound sand' wouldn't we eventually have glass? Free glass for everyone!
I think you've hit on it krispy...the hot air combined with the Keynesian apologist and the facilitator...The O'KrugNanke..."stained glass".
Right now I'm trying to calm down on something else...Brian Ross.
Earlier this morning, ABC's Brian Ross reported that some guy named Jim Holmes who belonged to the Colorado Tea Party might be the same James Holmes who murdered a dozen people in a theater in Aurora last night. "Now, we don't know if this is the same Jim Holmes," Ross said "but it's Jim Holmes of Aurora, Colorado."
Needless to say, it turned out that this wasn't the guy. I don't normally call for people's heads for making a mistake, even a bad one, but this is really beyond the pale. What kind of reporter says something like this on national TV despite knowing full well that he has no idea if he's pegging the right person? Is there really any good reason Ross should still be employed by ABC News by the close of business today?"
I don't care if George Stephanapolos or some other "producer" put this bullshit in his ear...he said it...we waited all morning for this type of crap, the first idiot to say another lie...he did.
Apologies and promises to "do better" for the MSM don't cut it anymore. He should be fired and anyone who gave him that ridiculous unvetted info should be fired along with him and take their place in the unemployment line and when it runs out sign up for permanent disability.
It would be just like me saying this James Holmes attended a San Diego Occupy Movement wouldn't it?
Yeah, just found that over at DC. There is no excuse for the predominantly Left-wing MSM anymore and I like the fact that the 'New Media' has them bleating apologies almost as fast as they make the stuff up. As you suggest, if they were really 'news' networks, they would fact-check and any talking head who spewed this type of crap would be handed walking papers and 'Next!'. But that's not how they do, or intend to, function anymore. 2008 was such a huge pile of propaganda/crap that I actually cut ties with neighbors and even family that piled on to the smear-fest. This wasn't an example of boisterous exuberance at the actual qualifications of a candidate, this was an all-out attack on not only candidates but their families, all the while the slogan of Hope and Change was chanted like a Mantra in grade schools. This is Jim Jones-like Kool-aid drinking at it's worst. Because not only are they affecting their own lives but poisoning the waters for another generation to follow. Don't know how this plays out but this election will BE paramount in deciding whether this country encounters a revolution or just kicks the can into another generation via a different name on the WH door.
Brainwashing IS real. Some people are more susceptible than others. If you cannot be re-educated, then ...
"...all the while the slogan of Hope and Change was chanted like a Mantra in grade schools. This is Jim Jones-like Kool-aid drinking at it's worst."
It is isn't it?...and Yes We Can...openly plagarized from a friggin cartoon character, Bob the Builder. We might as well hang up any thought of the average American becoming more informed listening to the MSM. I've run out of patience with anyone who does.
The amount of knee jerk pandering to the "progressive" audience has reached epic proportions...of the twenty five "Jim Holmes" listed as living in that area the TP guy is the one remarked on?
We're surrounded by fucking idiots krispy, from top to bottom.
Don't forget about the trash can, broom and broom pan manufacturers! Every so often break those things, too.
In case of pubes, break glass and shave that fucking paedophile faggot John Maynard Keynes. --- Look it up !
"Barack Obama advocates the use of Keynesian economic concepts despite the fact that the pedophile John Maynard Keynes was incompetent and a fraud."
Hmmmm, the world is run by economics based on thinking coming from a psychopath.... says it all
Hilarious cartoon!!! ROFLMAO
And the only economics being taught in colleges is Keynesian. Our universities as centers of indoctrination and brainwashing are doing a marvellous job. Don't even bring up any alternative to an econ PhD. They will have no idea what to do, or say, so they will just throw a tantrum.
Real estate agents, bank CEOs and economists are all in that same fucking worthless boat.
Now you know why the community organizer in chief says everybody should have a college education.
OK, so I have a PhD in math, but I do econometrics. We pretty much tell everyone what happened after some dumbshit convinced a lot og other numbnuts to try out his ideas on a real economy. Wemeasure stuff and say, "See how stupid that idea was. Next time try something different."
Anyway, I'm at this econ conference, and this guy gets up and he's going to talk about the economy of Hamstertopia or some other place I've never heard of and even have reason to doubt that it really exists. He starts with, "We assume a neoKeynesian model with parameters..." and some dumb ass in the back of the room asks, "Why would you assume that the economy follows some neoKeynesian model." Everyone in the room turns to look at me, er, I mean that dumb ass. The guy doesn't even dignify my, I mean that guy's question with a response.
I decided to spend the rest of the day wandering around Paris instead of listening to these idiots talk.
There could be lots of interesting research to do in economics with a PhD in maths, but not in the neoclassical stream.
How about network analysis as a means to study crisis propagation (forward/backward-propagation analysis), flows of funds, dependencies, feedback cycles, dampeners and amplifiers. That would be some cool application of discrete maths.
I've also been thinking of psychological threshold analysis, e.g. at what income levels, wealth levels etc that people's behavior changes in a disruptive way (not just linearly). E.g., when your income goes below X, you start freaking out. To extract behavioral changes and dimensions as functions of economic parameters could provide insight into human action and the austrian school.
Also, all kinds of stuff related to shadow banking: societal effects, trends, quantitative and qualitative forecasts, and analysis of notionals of other types of derivatives written. Especially all those rates swaps being sold could become a real issue if rates rise in safe haven bond markets. Should do for some interesting study.
"Our universities as centers of indoctrination and brainwashing are doing a marvellous job."
Hmmm, I'm wondering, if without "the governments" roads & bridges we would even have these centers of indoctrination?
I think I'm losing my mind ;-)
We all lost our minds a long time ago. That's why we hang around this blasted web site.
Now show me where one of them contraptions is so I can get busy breaking it.
It'll take traveling the 800 billion dollar rebuilt government roads & bridges to get there...but its your next stop ahead, just around the corner...in the Twilight Zone ;-)
Sounds like the typical governmental job. Much to do about nothing. Of course, I've got to pay for it.
With the note that the non keynesian economy also qualifies largely as "nothing to do" since large amounts of what is produced is bullshit to fullfill an artificially induced bullshit need.
an artificially induced bullshit need.
an artificially induced bullshit need.
But that is Keynesianism.
Well, in true Fightclub form, we do jobs we dont like so we can buy stuff we dont need.... Its not Keynesian eco that is creating demand for American Idol trading cards.
What is a duvet?
Its not Keynesian eco that is creating demand for American Idol trading cards.
Its not Keynesian eco that is creating demand for American Idol trading cards.
Presidents have been know to tell Americans to shop to save the nation. Then Americans are given credit and subsidies in order to buy the crap that's supposed to save the nation. It is Keynesian.
Thats another thing that pisses me off..."tax credits".
These motherfuckers really do believe its theirs to play around with and not yours.
Here ya go you simpleton, be a good little subject to the king and purchase this and NOT that with your meager wages...and we'll allow you to keep more of what you earned.
Government uses a modified carrot and stick approach. The reward is not a carrot but rather two whacks with the stick rather than the three you'd get otherwise.
All true...then ya got the hard heads like me ;-)
I thought about a solar system long before all the crony capitalists showed up (living in Fla, with hurricanes and power outages)...then when it was basically put to me as a bribe, with my own money...I said I'll stay on the generator and wall shaker when one rolls through.
You couldn't give one to me now "free" of charge.
Solar panels which are free of charge don't do anybody any good.
ROTFL!!!...you caught that...I was wondering if anyone would...lol.
I's loves my's doubles ;-)
Last weak there's an MSM leak that the qld state govt is going to axe thousands of public service jobs, so immediately the public sector unions are screaming that they will engage in widespread INDUSTRIAL action ... And all i can think is, wouldn't you first have to be industrious?
BTW, someone recently told me that former Premier, Peter Beatty, did something a few years ago that switched Queensland from "a state of the Commonwealth" to an incorporated body outside [some, or all] federal jurisdiction. What's that about ... if anything?
I don't know anything about that i-dog, but keep in mind that this is "Queens"-Lunde we're talking about.
Nudge-nudge, wink-wink ... say no bloody more mate!
And let's not forget the State of [Queen] Victoria, or the State of New South [Prince of] Wales.
Where New Zealand plays the bit-part of the ever volcanic Irish bastard, and Tas-Mania is a sort of economically enfeebled Scotland, full of daggy wannabe hippies .. and it actually looks like Scotland too.
The Queensland Labor Party have totally fucked the state's finances, it's the mini-me-Greece, just give it a few years.
Subsidies in all forms need to be eliminated too. Fuel, agricultural, etc.
What is a duvet? It's a thick blanket that I find floating near the ceiling in the morning after a night out eating chicken wings.
You didn't build that.
You know -- he was talking about himself.
And by breaking said glass and cleaning it up, you have magically increased GDP. Please repeat over and over until we are all rich...
Then you need a bin to put that glass in. You see, it does work.
And the glass can be recycled! These are green jobs being created!
HA! Austrians, only good for yodeling imo.
Can you say too many syl/lab/les Tyler? Game show theatrics.
If the government mandated years ago that these be installed in every home, then this whole crisis could have been averted.
I hope you are short eur/cad!
Government creates TARP (Troubled Asset Relief Program) and then consumes 75% of the allocation of hardest hit funds in ADMINISTRATIVE COSTS IN NEVADA!!!!!
Keynesian Kraziness at its worst!!!!!
How many Keynesians does it take to....errr, nevermind.
the answer is MORE
If you took all the Keynesian economists and laid them end to end they would all point towards Lenin's tomb.
What a great week on the Hedge. Thanks again Tyler for giving us a forum to play in.
And we'll end a great week with ... new fiction!
How important are appearances? Some people will do anything to maintain just that. And some non-people will suffer the ultimate indignity to stay out of a cage.
Why thank you!
All I made lately was a theme song for Max Fischer.
Thanks to both of you!
Thank you for that. The story was great. This week, well I wouldn't go so far as to label it as great.
Do let us know when you publish, I'll certainly buy a copy.
Have a great weekend.
keynesianism for kleptocrats - break glass and wait for people to step on broken shards necessitating 911 call to paramedics; leave clean up utensils on floor in order trip the unsuspecting.
Break glass...record it as off balance unbroken glass. Create two ETFs one called SHOVEL and one called BROOM. Leaver each 30 to one then .....
The thing about common sense is...it's not so common.
The real stuff is now called uncommon sense, as matter of fact I think it should be called Veryrare Sense, or Stillhave Sense.
It's like thinking hurts people with the common sense now a days! They avoid it like the Plauge! Its easier to just be common, like the Dude next to ya!
Jeesus ( H) Christ Tyler! I can't believe the short covering opportunity in the markets!
I just ran CoT charts, and the ( xlf) is exactly priced!
as Jimmy Cramer says. sell sell sell! You retards can't catch a joke!
ok flag boy. the xlf is up for the, ( week), weak! Look @ the monthly charts/ going back to May. Get a job!
Quit using me as your as your " STUMP"! I do my homework!
Wittiest cartoon I have seen in a long time! Thanks for the laugh.....
You didn't sweep up that glass somebody else swept it up for you.
One job created or saved! His re-election is secure! (Excuse me while I go kick a puppy named WeeOwe, er, sorry, BO...)
For that joke, I require you to make public your last 12 years of income tax returns before I can laugh.
If poor old Simon Black of Soverign Man submited this, it would've been rated as three out of five.
He did ,from Portugal on his way to Chili just getting back from Singapore.
While explaining that 1 megabit connections in Ukraine make it a great place to start a business after you have expatriated your gold to Thailand, Kenya, and Peru.
And telling us about the lockdown at checkpoints between countries while driving through Europe.
While pontificating that having a 600 acre ranch in Chile and Argentina is really the best bug out option
And the sign on the glass would also be in Mandarin
That explains the metal encasing the glass being toxic to the touch.
but the mandarin is no problem for simon black, because he speaks 20 languages fluently, and what he doesn't his entourage of servants probably have i covered.
Only if he had casually mentioned how he had drawn the cartoon with his Montblanc pen while sitting on a private beach off the coast of Chile, waiting for his Bentley to come pick him up to take him to the airport, so that he could go to Hong Kong and buy some gold bullion.
Does it say "Made in China" on the box?
Safety box production is what's driving China's 7% Growth!
China's been outsourcing to Pakistan, to meet production requirements!
In case of nothing to do... DOUBLE the [non existent] budget & send the bill to the tax slaves...
Don't worry, if your to lazy to sweep it up or even break the glass to begin with .... YOU STILL GET A CHECK!
WHat if we all eat potato chips and drink beer for two weeks out of the summer? Will that help the depression?
Onion (union) recipients frequently adopt the same tactic.
"Crime pays, and it pays to be stupid."
Well it doesn't pay nearly enough, goddammit.
Obama is not a Keynesian.
He was born in Hawaii.
Down arrow for that one! Born in Hawaii seems more and more like a work of fiction.
yeah and I was born yesterday
Damn, I thought it was funny...nice and dry with just a hint of redistribution.
Shouldn't there be an (iPhone) app for that? I mean, really, who in the hell can be bothered to actually touch reality?
Put sweeper together with broken glass in the trash can.
Order 2 new certificated glasses and 2 new certificated sweepers.
Call safety commissioner to check hammer and chain.
Look if now there is something to do for half an hour or so.
If not go for a coffee.
Look if now there is something useful to do.
You should not drink so much coffee.
All payment prefered on creditcard.
I learned last week that there is such a thing a as "Brewster".
It's basically a recognised certification that you've acheived accredited "Master" coffee-making status.
no ... I'm not joking.
Probably the most neurotic thing I've ever heard of.
Gimme maw hi-kulture! ... its like good n' stuff
Would make a good T shirt...
The possibilities are endless too. Instead of Keynesian Economics we could do:
1) Greek Union
2) Spanish Finance Minister
3) EU Member of Parliament
and the art stays the same. We'd be gillionaires!
I give up. Have ( A) nice Weekend . Thanks for the up-to-date reporting.
Ahm waay better off since I broke ma glasses.
Now THAT is one of the funniest (and truest) cartoons I have seen in a long time.
It is now printed, and will be disseminated widely. Please hold the lawsuites until I have made my second million.
Absolutely stunning epiphany! Honorary Doctorate for the creator of that one simple picture that captures the essence today's investing climate.
Have a nice weekend ZH
kill nial fergusons
just kill them all
just do it slow
let the bankers watch the slaughter then kill them as well
that would indeed be funny
you need a beer.
Thanks for the best market explanation of the week.
Creative Destruction courtesy of the 5th Element:
Sometimes it's difficult to wait for the corn to grow.
That's why the US has baseball.
'Tain't happenin' this year, sonny boy.
I'd like to stop being a Keynesian, but regardless of how many resources I devote to this problem, I just cant seem to grow out of it.
(A Keynesian and an unemployed auto worker are pushing a wheelbarrow full of cash toward a massage parlor, though the doorway is blocked by a a striking 5th grade teacher, and the auto guy sez to the Keynesian . . . )
>and the auto guy sez to the Keynesian . . .
which whore do we pay first... (ba boom pssshhhh, wacka wacka wacka)
Remelt the glass into another pane, replace.
I have an idea for another image. Call it: Post-Keynesian Economics
The accompanying image includes a bankster and a noose.
The caption says: In case of nothing to do, let bankster swing in the breeze...
...awesome, I just finished sweeping up. http://www.youtube.com/watch?v=jwSqL30M8Is&feature=results_video&playnext=1&list=PL16A63348ACAABB1F
The clearest explanation yet of Keynesiology:
1. drink water
2. talk to self
3. use your hand
4. form a circle
that keynes guy was some kind of genius
The ad on the right says 'Happy Birthday Barack', Sign the Card.
Happy Birthday to you, you Keny-nesian fraud who blew, his boyfriend and economy too, Happy Birthday Mr. President, I hope in this election you get screwed....!
So he was a reprobate who perverted young people .... but when it came to public finance he was above reproach ?
The world economy is on track to a long period of deflation after decades of inflation as a normal business cycle. All the politicians central bankers and keynesian economists put together cannot turn the cycle, they can only make things worse by deploying methods to postpone the effects at a much bigger cost.
The debts taken in the name of the country for QE will have to be borne by the rest of the population and future generations in the form of higher taxes, austerity measures and higher unemployment.
One-two-three Cretins want to hop some more Four-five-six-seven All good cretins go to heaven
Not China its in all developed social welfare countries. Only there is no money stuffed in the cabinet, as K suggested.
Copy to Krugman.
This picture ought to make most "useless" workers think.
I am not saying that they are useless as human beings, I am saying that most jobs are useless.
I'm not sure that "most" jobs are some type of make-work, but the percentage that are is higher than many people think. Jobs have been provided for years for constituents, friends, family or just because old Bob is to hard to fire.
It's a freaking creepy doomsday cult. Nothing more to say, really.
21st Century Keynsian/Con-Man Economy is more like...
Create an industry centered around hammers and breaking glass. The American Dream will be hammer ownership. Why? Because we said so.Make people pay interest for decades for the privilege of renting a glass-breaking hammer until they "own" it but don't ever give them the title or the deed to the hammer.
Make derivatives based upon hammer loan interest payments and rental fees. Before you know it, the "industry" of hammer rental, glass breaking, sweeping, putting in a trash bin and recycling becomes a 100 trillion "industry." Eh, its only half again as big as the entire world's economy. What's the worst that could happen?
When it all goes to shit, have banks give you 17 trillion in bailouts, negative interest rate loans and "print" money by putting 1s and 0s into people's computer systems. From gold backed, to gold and silver backed, to paper and dross metal all the way to binary currency.
When this bubble pops, admit that you inflated it in the first place and then not only NOT apologize for it, say it was necessary then and it is necessary today to create a new bubble! Perhaps the new bubble will be in burying money in dirt holes, digging the money up, then burying it again/
"If the Treasury were to fill old bottles with banknotes, bury them at suitable depths in disused coalmines which are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez faire to dig the notes up again . . . there need be no more unemployment. . . . It would indeed be more sensible to build houses and the like; but if there are political and practical difficulties in the way of this, the above would be better than nothing." Keynes
To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble. Paul Krugman
Ben Bernanke needs to create a banknote bottle bubble to replace the housing bubble. Think of all the backhoes, bottles and bulldozers that will be created. Would be awesome for the manufacturing sectors.
As mentioned numerous times, market intervention has only postponed the inevitable.
Despite short and medium term market vacillation - the following remains a constant :
>> USDX monthly indicators [ie big picture] continue to warn of significant long term USD upside. (thus EURUSD & AUDUSD etc bearish)
>> SPX monthly indicators [ie big picture] continue to warn of significant long term downside for equities which will be worse than 2008.
We are post-Keynesian now; we omit the sweeping up step.
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