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Paul Vs Paul Post-Mortem
By way of post-mortem of this afternoon's epic Paul vs Paul cage-match, we reflect on the various headlines the two gentlemen made during the event and in the context of the credibility with which one of the gentlemen discusses his ability to manage the world and the 'ease' with which he and his henchmen can control inflation (and that an unmanaged economy is subject to 'extreme volatility'), we remind readers of the post-WWII years and the extreme swings in purchasing power that their so-called managed economy created - a period which Krugman explicitly pointed out as golden years for the post-depressionary period.
Summarizing the words and thoughts of a megalomaniacal Keynesian dream-maker is hard but the following effluent effusive comments via Bloomberg will provide the much-needed color on this afternoon's Bloomberg TV appearance:
- *KRUGMAN SAYS FED SHOULD ACCEPT HIGHER RATE OF INFLATION
- *KRUGMAN: FED SHOULD KEEP RATES LOW UNTIL "WELL PAST" 2014
- *KRUGMAN SAYS INFLATION EASIER TO CONTROL THAN DEFLATION
- *KRUGMAN SAYS U.S. WOULD BE BETTER OFF WITH 4% INFLATION RATE
- *KRUGMAN: CONTINUED MASS UNEMPLOYMENT "RECKLESS". NOT INFLATION
- *KRUGMAN SAYS U.S. ECONOMY IS "PERSISTENTLY DEPRESSED"
- *KRUGMAN SEES "MASSIVE FAILURE" OF SYSTEM WITH 8% JOBLESS RATE
- *KRUGMAN SAYS "NO REASON TO PANIC" OVER U.S. DEBT NOW
- *KRUGMAN SAYS U.S. DEBT NOT "ANYWHERE CLOSE TO A RED LINE"
- *KRUGMAN SAYS SLASHING SPENDING MAKES DEBT PROBLEM WORSE
- *KRUGMAN SAYS UNMANAGED ECONOMY SUBJECT TO "EXTREME VOLATILITY"
US CPI in the 1940s...Zee Stabilitee
And from the more open-minded of the two 'Pauls' - it appears his statements lie somewhere in the credible (and not at all psychotic and narcissistic) regions of the mind:
- *RON PAUL SAYS GOVERNMENTS AREN'T SUPPOSED TO RUN THE ECONOMY
- *RON PAUL SAYS `THE PEOPLE' ARE SUPPOSED TO RUN THE ECONOMY
- *RON PAUL: FED HAS DESTROYED 98% OF DOLLAR'S VALUE SINCE 1913
- *RON PAUL SAYS FED SHOULDN'T HAVE A MONOPOLY OF CURRENCY
and while he does note that:
- *PAUL SAYS FED IS LENDER OF LAST RESORT FOR POLITICIANS
he also adds more pragmatically that
- *RON PAUL SAYS WOULD BE "CHAOTIC" TO END THE FED RIGHT AWAY
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I agree, while RP knows what he is talking about, he's terrible at conveying it in ways a complete layman could understand. So to them he always sounds like your drunk uncle which leads people to automatically dismiss him.
I agree, while RP knows what he is talking about, he's terrible at conveying it in ways a complete layman could understand. So to them he always sounds like your drunk uncle which leads people to automatically dismiss him.
RP "supporters" came into the Massachusetts R caucuses this weekend and, well, got their delegates nominated in disproportionate numbers to the R convention in FLA this summer.
We'll see how Loki works.
- Ned
Every President through modern history has spent money like their hair was on fire. No exceptions. And, Congress approved an endless litany of unbalanced deficit spending budgets year after year. They didn't mind creating slavery for the tax payer, and printing free money compliments of the Fed for their banker / Wall Street buddies to bail them out of the mess created by the miracles of deregulation. lobbying, and corruption. All accomplished regardless of which party or President was in charge. They are all cut from the same block of cheese, and they are all culpable. I just hope we survive the end result of having criminals running the country for decades. Put your money in something tangible, because the dollar is going to continue to tank, resulting in way more inflation. And, banks may not survive the firestorm of margin lending, credit default swaps, and derivatives created that exceed 250 quadrillion dollars in total - more money than the gross domestic product of the entire planet for decades. Then, for all you number crunchers out there, some sobering statistics below. The Federal Reserve is neither Federal nor a "Reserve". This private bank run by the "Bank of England" has been stripping the US of its assets since the days of Andrew Jackson. If the $16,000,000,000,000.00 given away secretly, since 2007, to the member banks isn't reason enough to overhaul our entire government financial system then our country is doomed to financial failure. You won't read this in the mainstream media....but it may emerge in the coming elections. Read about this first ever audit of the Fed and understand why we are in such trouble. Tuesday, September 27, 2011 First Ever GAO Audit Of The Federal Reserve (You can click on the site and read the report). The first ever GAO audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill (HR1207), so that a complete audit would not be carried out. Ben Bernanke, Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve nearly 100 year history were posted on Senator Sanderâs webpage earlier this morning. sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3 (Summarized below) What was revealed in the audit was startling: $16,000,000,000,000.00 (TRILLION) had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the worldâs banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs. To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is only $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is only $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world. In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion. **** When you have conservative Republican stalwarts like Jim DeMint(R-SC) and Ron Paul(R-TX) as well as self-identified Democratic socialists like Bernie Sanders all fighting against the Federal Reserve, you know that it is no longer an issue of Right versus Left. When you have every single member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity onto itself, which has no oversight and no accountability. Americans should be swelled with anger and outrage at the abysmal state of affairs when an unelected group of bankers can create money out of thin air and give it out to megabanks and super-corporations like Halloween candy. The list of institutions which received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows: Citigroup: $2.5 trillion($2,500,000,000,000) Morgan Stanley: $2.04 trillion ($2,040,000,000,000) Merrill Lynch: $1.949 trillion ($1,949,000,000,000) Bank of America: $1.344 trillion ($1,344,000,000,000) Barclays PLC (United Kingdom): $868 billion* ($868,000,000,000) Bear Sterns: $853 billion ($853,000,000,000) Goldman Sachs: $814 billion ($814,000,000,000) Royal Bank of Scotland (UK): $541 billion ($541,000,000,000) JP Morgan Chase: $391 billion ($391,000,000,000) Deutsche Bank (Germany): $354 billion ($354,000,000,000) UBS (Switzerland): $287 billion ($287,000,000,000) Credit Suisse (Switzerland): $262 billion ($262,000,000,000) Lehman Brothers: $183 billion ($183,000,000,000) Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000) BNP Paribas (France): $175 billion ($175,000,000,000) IT WILL BE INTERESTING AS TO HOW MUCH ATTENTION (AS WELL AS THE SLANT) THE MAINSTREAM MEDIA GIVES THIS UNBELIEVABLE POSITION OF OUR GOVERNMENT HAS PLACED US IN WITH NEVER PREVIOUSLY HAVING AN AUDIT OF THE FEDERAL RESERVE. I AM CONFIDENT THAT WE WILL HEAR SOMETHING LIKE THE FED HAD TO GIVE STIMULUS TO WHOM THE $16 TRILLION WENT TOO BECAUSE IF WE HAD NOT ALLOWED THIS IT WOULD BE THEIR COLLAPSE AND THE OURS. HAS ANYONE EVER HEARD OF CLOWARD AND PIVEN ECONOMICS? (PARAPHRASING) IT INVOLVES TWO HARVARD PROFESSORS WHOSE BOOK SAID TO CHANGE ANY GOVERNMENTâS ECONOMIC SYSTEM INTO A SOCIALIST ONE, IT SIMPLY DRIVES THEIR ECONOMY INTO THE DITCH THEN THE CITIZENS ALLOW THE GOVERNMENT TO DO WHAT THEY WISH TO SAVE THEM
"They didn't mind creating slavery for the tax payer, and printing free money compliments of the Fed for their banker / Wall Street buddies to bail them out of the mess created by the miracles of deregulation."
Actually bailouts are regulation. Without regulation there is no physical or legal mechanism for a bailout.
Link didn't work and could not find the report on that website.
If they decide to go full retard, just mail out checks and bypass the federal .gov, as it is the least efficient capital allocator to exist, ever.
He's got a slick beard like the bernank.
Krugman point to Britain's high spending & debt to GDP at 130% as a model especially during the 20th century.
Is Krugman aware Britain was also once a global superpower with a currency that was once the reserve currency before they spent themselves to oblivion? When I read this I almost laughed.
I especially love how he admits he was a deficit hawk during the Bush years. Now under Obama he says we should run multi trillion dollar deficits.
Nope, he's not at all a political shill.
Krugman: "Food and Gas prices not driven by Fed easing"
Krugman: "The dollar hasn't gone down"
How this man can say that with a straight face is amazing. He really must live in his own world.
He lives behind the walls of socialism. The colleges today are an extension of government aid. They are one in the same way of thinking as a result.
When was the last time someone in government said no to a college funding plan. What happens when a government or administration official leaves government? Most and many of them end up in colleges in some higher administrative position. Where do all the government adminstrations hire from? Colleges. The full circle of socialism that Krugman continues to promote in it's full glory. Without further government spending he would be unemployed and that is why he promotes this Keyensian bs.
How long do you think he could last in the real world? Is he smart enough to even balance check book. I would not have him run a lemonaide stand.
Krug- "We're not even sure where the line between money and non-money is"
Fucking Brilliant!
What an asshole.
Is it just me, or did Netanyahoo insert the same frequency squak box in his throat as the Rahmster?
Come to think of it, Bernanke has an eerily similar quality to his voice and inflection while lying in-your-face. (Bitchez!)
Was it part of their programming? Or- were they (Rahm/Krug BEnny) a mutant-triplet nightmare
that had to be surgically seperated?
Diagram, Mr. Banzai?
That eerie, high-pitch whine and inflection is a common malfunction in the artificial voicebox that the Lizard People speak through when they are forced to masquerade as humans.
Yes, that's it. We need those glasses that reveal who they are so we know who to use our reptile ray guns on.
Somebody should remake that classic early-80s movie --- only this time, they could change the title to "They Spend!"
Funny, they both are Jewish..It's just a coincidence. You get that high voice from stealing from the peasants that you falsely expect will believe your BS and hope like hell the Goyim keep doing their slave jobs tomorrow instead of sticking a pitchfork in your economist ass.
I'm still stuck trying to figure out this non-money thing...Oh Oh I think he means gold is non-money...Well he's right until everything falls the fuck apart then gold is money again..What a dick!
This is the S.S. Titanic ... Krugman already has his dress on to be sure he gets his lifeboat seat.
and his BINKY is firmly planted.
Krugs knows that fresh money is the good part of inflation and doesn't see past next tuesday so of course he wants to print print print as long as he gets to use it first
"The dollar has not gone down". Krugman is right. Just that, Gold has gone UP!
It occurred to me that on Bloomberg it is okay to call Ron Paul a "pillar of economic thought" and yet they'll also have some Sarah Eisen retard laugh in his face or continue to promote the idea that he's a kook.
Fucking media is sick all over itself to promote the status quo shit eaters.
Austerity for the banksters and kleptocrats!
Also here is the 27 minute version:
Ron Paul VS Paul Krugman 4-30-12 FULL Bloomberghttp://www.youtube.com/watch?v=WEoGKpnutyA
(thanks allRonPaul from dailypaul.com)
Krugman, you are a jackass! Print to infinity!
Honestly, where the fuck did he get that 8% unemployment will cause a Massive Failure?
Cutting spending would worsen the debt situation?
The guy is a serious embarrassment to the economics establishment. He may have a following of political zombies supporting anything he says because he's a self-proclaimed liberal. But holy shit this guy can't be taken seriously by thinking individuals.
After listeninig to this again, Bug Man either is a total fool, or,
He's blowing Barry and lying out his sore butthole for the man who calls himself Barry The International Man of Mystery.
How can anyone not expect a private bank possessing impunity to NOT rape and pillage the peasants?
This guy's soul sold cheap.
Krugbug is a fool and he's blowing Barry. They're very much in love. Well, Krugman is anyway.
Money and Non-Money, A Mystery Only Krugmumps Understands:
http://imgur.com/UsdS5
I'm still stuck trying to figure out this non-money thing...Oh Oh I think he means gold is non-money...Well he's right until everything falls the fuck apart then gold is money again..What a dick!
Ron Paul for President..At least he'll be honest until he gets shot.
Krugman is so stupid. Even the BS he throws out to support his theories (e.g. the Japanese carried a much higher debt level...) is not relevant to the current discussion...in fact it's laughable. He stitches and weaves cherry-picked facts and examples to support economic theory that only a chimp could concoct. He's a doctor? He's a professor? He won the Nobel prize? Somehow I'm not surprised.
Paul Krugman: "I don't believe in Monetary Policies that perpetuate depression". We'll what the fuck is this Paul? Oh, you meant a depression where you fuckers would be forced to do the right thing, like debt cancellation, yes that would be terrible...Terrible!
Paul Krugman: http://www.youtube.com/watch?v=rYqF_BtIwAU
Socialists vs Constitutionalists
There can be no merging no sythesis
I only hope some of the angry socialist revolutionaries on this board
Go back to the original revolutionaries - the ones that killed tyrants - and gave freedom tothe common man -- and guess what under the constitution the common man was not very common just oppressed by the power elite
George, Thomas, John, Sam, James,
Washington, Jefferson, Adams, Adams, Madison
THIS MAKES ME SICK!!!
The problem isnt RP's points & philosophy, it's RP's inability to argue coherently.
This was set up for political purposes.
PK just had to sit back and pander to the progressives with idiotic one liners to provide the MSM their needed sound bites to attack the folks that support RP/Tea Party/conservative's who want to control spending.
Human's haven't changed since the beginning. The presence of the orator matters more than the truths and lies spoken.
Amazing, to here the great minds, of economics have their go on one and other.
One of the great mind talked about Continium?hope i spelled it right,the word was amazing,must meen things that goes on,Continium,nice!
The same person,said something about not going into Japns footprint,this made me,confused,cause,did Japan just lent/gave The Imf a ton of money,so they cant be so bad of,or am i mistaken,i could be.
And the same person,disputed i think Mr Paul a litle on the after war time,seems to me,without to much insigth on big economics,that prewar is a time for built up,so to me i tlooks obvious that the economy would do well,from a slow start,aint it like a snowball,it dont run fast in the begining,but the more snow i gain the faster it runs.
But it seems anyway,to me atleast,its all about to have, or to have not,The Federal reserve,and if it is a Ponzischme,i dont se the point in having Bernie Madoff in the Jail,then he should be,The Cheif Printer.
Oh noticed to,the Ceo,s are unsure,realy dont know why,they dont seems to part of The Austerity Club anyway,but they worry anyway about their next billion/trillion,quasillion,aint nothing new in that.
Anyway,always interresting, to follow the superclass of Einsteins.
Nearly forgot,the Jounalist,or whatever,talked about the high unemployment of Spain,aint their an high unemployment in the US,for that matter every where else,but seems she dint realy,wanted/dint know about the footstamp people,they talk for them self,i think.
Interresting anyway!
Thanks to ZH,for putting it on,was waiting hours to se it!
Sorry big error i ment Postwar,obvious,sorry ladys and gets!
It's hard to have a discussion with a crazy old man who is now going senile to boot. Completely incoherent. This was a waste of time frankly.
Krugman and QEternity ...and Krugman hanging out with Christ for eternity? Not a chance.
Krugman, there is no doubt, you are marked and sealed. That Mercy Train has sailed and you are not on it. http://www.youtube.com/watch?v=KQCAftHQ17w
Krugtato - tater tot with a beard.
Glassy-eyed policy wonk.
All data, no interpretation.
All means based, outliers have no meaning (i.e. - there never are earthquakes, Cat. 5 tornadoes, Tsunamis, or Black Tulip/South Seas bubbles.)
PhD = Piled Higher and Deeper
Krugtato to the rescue with deficit spending and endless liquidity and QE to solve a debt/leverage problem encouraged by privatized gains, socialized losses, and a fiat currency unhinged from tangible values.
"gentlemen discusses his"--sigh
The way you carry a debt burdon while reducing spending is really quite simple.
Debt Liquidation, Debt Relief programs, Mortgage relief programs.
The reason the central banks don't let this happen is because it causes deflation.... and the whole goal of a central bank is to suck the host dry like a parasite, while leaving just enough blood so as to not kill the host.
Inflation = Sucking more blood
Deflation = giving back some of the blood they stole.
------------------------------------------------------------
Banks stole the money (gold) in 1930 , they caused the depression because they counterfeited gold certificates like nut jobs (they thought they could central plan the economy behind the backs of the American people.
As a result millions lost all their savings, (there was no FDIC to print money and give it back to the depositors) so they not only stole the savings, they STOLE whatever money was left in circulation (at gun point they took the gold from the people), the smart ones buried their gold/money in the back yard... the sheep handed their sacks to the bank who proceeded to devalue the worthless paper.
Hold your gold, and fuck um all............ let the dumbasses who are stupid take the paper, the amount of money in circulation is only going in one direction , to the moon (actually to mars, because we already passed the moon).
The media is riding Ron Pauls coat tails for viewership yet they are still trying to demonize his views because they are dangerous for their owners.
Ron Paul raises tons of money, if he wanted he could probably raise 5 million a week, sure its not as easy for him to raise money as it is for Mitt Romney who has JP Morgan funding his campaign with billions in stolen MF Global money (thats a lot of "grease money")...... but hey..... honesty vs fraud... you choose.
He sounds in this video like he's seriously considering to run further than the convention. He sounds like he's gonna run independent. I sure hope so. I'm still not going to get off the couch to vote for him if he won't tell the truth about 911. But hey, things would be a lot more interesting with him in the race. At least it would be a whole lot more entertaining.
After what they did to Boise this year, I'm boycotting college football next fall. So I'd like to have something to watch.
If you're buying gold to make a profit, you're doing it wrong.
Milton Friedman would have been regarded a leftist - indeed! In the 1940's, the Chicago School was regarded as left-fringe, which is exactly what it is.
A society that actually believes Milton Friedman and the Chicagoites are representatives of 'free market thought' is pretty far gone. Mises once walked out from a Mont Pelerin Society meeting muttering 'you're all socialists' - and he was right. Friedman and his school believe in central planning of money and hence ultimately in central planning of the economy.