Quote Of The Day: QE3 Should Have Been "More Stronger"

Tyler Durden's picture

A $4 trillion Fed balance sheet in 15 months (40% increase) and guess who is not happy. Yup, you got it.

From Bloomberg:

Nobel-prize winning economist Paul Krugman said that the third round of Federal Reserve asset purchases announced yesterday may be too small of a stimulus for the struggling U.S. economy.

 

The Princeton University economist, speaking at an event in Sao Paulo today, said that the Ben S. Bernanke’s pledge to buy $40 billion of mortgage debt a month could’ve included a commitment to maintain the asset purchase program for an extended period of time or until the unemployment rate falls to a targeted level. 

 

"The change in tone is important but I would have liked a more stronger [sic] statement,” Krugman said. “It leaves things a bit unclear.”

When one hears such brilliance, what can one say but... Krugman.

And as a reminder...

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max2205's picture

more free stuff..need more

GetZeeGold's picture

 

 

Damn......the pusher man.

 

jekyll island's picture

When you look at the deflation occuring in the shadow banking system, Krugman is right (gag).  If the fed is going to save the banking system, which is it's real function, then the bernank will need to print a whole lot more. 

CPL's picture

"More stronger."

 

MOAR STRONG!!  MOAR STRONG!!!  

<beat chest, play with inner tube, eat banana>

flacon's picture

Economists unlike to speak in regular English because they want us to belive in their disintelligence. Krugman is afraid of negative growth of his ego. Perhaps there is a 'soft patch' at the top of his head.

Comay Mierda's picture

Today is QE3 + 1

I say dollar collapses before QE3 + 100

Precious's picture

The reason for these interventions is clear.  Without them, the political class fears the end of the United States as we know it.

With intervention, the kleptocrats believe they are at least preventing blood on the streets, bank runs, and an international fire sale of US assets.

Better to bleed the American people out by 1000 cuts than to risk the destruction of the "pinnacle" of democracy and freedom by, of, and for the one party system running D.C.

Manthong's picture

I think that even the learned Professor Krugman, Nobel Award Laureate, fell short in his advocating.

He should have pressed for an even more strongerer response.


Boris Alatovkrap's picture

Small Boris is  like push soft patch at other orphan in state control pre-school. Now is still like push, maybe Mr. Krugman.

BliptoP3's picture

In theory... In practice, you'd have to get the amounts and the timing just right - and then you would still have to unwind all that garabage at some point.  so - we should just take what's coming so we can start over - the sooner the better.

Element's picture

Strongerer?

Give it a bit more choke and it might start.

Chuck Walla's picture

Ferret Face is just getting ahead of the fail.  When it goes to shit, Krugie will claim: "See, it just wasn't enough".

 

FORWARD SOVIET!  FORWARD KOMRADE KRUGMAN!

Chuck Walla's picture

Ferret Face is just getting ahead of the fail.  When it goes to shit, Krugie will claim: "See, it just wasn't enough".

 

FORWARD SOVIET!  FORWARD KOMRADE KRUGMAN!

(PLEASE PARDON FAT FINGER FAIL)

Trichy's picture

He is getting more Krugerer by the day.

5880's picture

He admits he's a commie

Why would anyone listen to him?

Totentänzerlied's picture

Because people whom Americans refer to as commies are great in number throughout the world. Whatever label you choose, the Free Shit Army/Other People's Money Liberation Front never wants for members.

asteroids's picture

$40B/mo through Obozo's next term is almost $2T! If Krugman had balls he would give us his number and shut up!

Mongo's picture

All hail the Bernank

DeadFred's picture

I wonder what the Bernank and the FOMC knows that we may only suspect. Only one dissenter for what looks like a pretty radical open ended plan. China? Iran? Maybe it just about Kenya.

jekyll island's picture

Maybe it's about, oh, their JOBS since this is an election year.  It'd be a pretty big chip for them if they got Obummer reelected.  

DeadFred's picture

Yes Kenya is a likely reason but only The Bernank's job is in jeopardy, the others are untouchable. There was only one dissenting vote.

trebuchet's picture

WTF!!???!!   Unbelievable comment from Prof. Krugman.....

q99x2's picture

That alternative lifestyle economist is still wondering who stole his testicles.

babylon15's picture

Blocked all the MSM from my /etc/hosts file.  Can't read this stuff anymore.

HelluvaEngineer's picture

"Me fail English?  That's unpossible!"

Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

He meant to say 'moar strongerer!!!11!' to emphasise his point of Keynesian black-magic.

LawsofPhysics's picture

More evidence that certain nobel prizes are completely worthless.  Special place in hell for Krugman.

LongSoupLine's picture

one drifts to the "peace" category on your remark...

DeadFred's picture

He may find his 'special place' rather crowded but it will be ggod times with all his old friends

MillionDollarBoner_'s picture

8th or 9th circle, right up close to the stage, according to Dante ;o)

Racer's picture

And if you can't even speak English properly then I am not surprised to hear such stupidity uttered!

phalfa5's picture

mispoke ...  wanted mostest strongest but would have settled for morer stronger....

not fat not stupid's picture

My sister has worked at Princeton in the IT department for 30 years. If you'd like, I'll have her kick Krugman in the nuts the next time he's walking through the commons.

Anglo Hondo's picture

Krugman?  Nuts?  In the same sentence ..... yes, he is.

 

GetZeeGold's picture

 

 

He's got the Nobel Prize to prove it.....but so does my niece and her whole class. They all got one on the first day of school.

 

gold-is-not-dead's picture

hehe, true... and even obama got one for peace... and he started only a bunch of wars...

Shameful's picture

Could I get a keystroke logger instead?  I would love to read his private correspondence.  Answer the eternal question is he just shockingly stupid or just evil, or shockingly evil.

the not so mighty maximiza's picture

Yes open ended to infinity was not strong enough.   Krugman needs some electro shock therapy.

James-Morrison's picture

Krugman, Krugman He's our man
If he can't do it, Martians can!

101 years and counting's picture

i'd love to take his class.  when all else fails, just respond: "print money".  easy "A".

Silverhog's picture

Maybe Paul is right. If your plan is to drink yourself to death, why use nips.

walcott's picture


JFK - We choose to go to the Moon, full length

http://www.youtube.com/watch?v=ouRbkBAOGEw

 

Need something like that. Instead of "We choose to blow up the planet"