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Quote Of The Day: QE3 Should Have Been "More Stronger"
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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more free stuff..need more
Damn......the pusher man.
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.
"More stronger."
MOAR STRONG!! MOAR STRONG!!!
<beat chest, play with inner tube, eat banana>
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.
Today is QE3 + 1
I say dollar collapses before QE3 + 100
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.
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.
Small Boris is like push soft patch at other orphan in state control pre-school. Now is still like push, maybe Mr. Krugman.
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.
Strongerer?
Give it a bit more choke and it might start.
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!
Ferret Face is just getting ahead of the fail. When it goes to shit, Krugie will claim: "See, it just wasn't enough".
(PLEASE PARDON FAT FINGER FAIL)
He is getting more Krugerer by the day.
He admits he's a commie
Why would anyone listen to him?
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.
NEED MOAR MONEYS
$40B/mo through Obozo's next term is almost $2T! If Krugman had balls he would give us his number and shut up!
All hail the Bernank
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.
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.
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.
WTF!!???!! Unbelievable comment from Prof. Krugman.....
That alternative lifestyle economist is still wondering who stole his testicles.
Blocked all the MSM from my /etc/hosts file. Can't read this stuff anymore.
"Me fail English? That's unpossible!"
He meant to say 'moar strongerer!!!11!' to emphasise his point of Keynesian black-magic.
More evidence that certain nobel prizes are completely worthless. Special place in hell for Krugman.
one drifts to the "peace" category on your remark...
Hence... nominate dear old Charles for one...
http://www.facebook.com/CharlesPonziForANobel?ref=hl
He may find his 'special place' rather crowded but it will be ggod times with all his old friends
8th or 9th circle, right up close to the stage, according to Dante ;o)
And if you can't even speak English properly then I am not surprised to hear such stupidity uttered!
mispoke ... wanted mostest strongest but would have settled for morer stronger....
"Bigger-er" - Kruggy
Doubleplusstrong in Newspeak...
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.
Krugman? Nuts? In the same sentence ..... yes, he is.
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.
hehe, true... and even obama got one for peace... and he started only a bunch of wars...
http://wws.princeton.edu/people/display_person.xml?netid=pkrugman
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.
Stupidly evil?
More stronger evil
Yes open ended to infinity was not strong enough. Krugman needs some electro shock therapy.
Krugman, Krugman He's our man
If he can't do it, Martians can!
i'd love to take his class. when all else fails, just respond: "print money". easy "A".
Give me the money!
Maybe Paul is right. If your plan is to drink yourself to death, why use nips.
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"
When one hears such brilliance, what can one say but...give that asshole a swift kick in the nuts.
There, fixed it for you.
he is just such a moron. median income has not gone up, however cost of living is ever increasing. mabye it is good for the rich, but not good for middle and lower class--- and the class differential will one day cause havic..
All according to plan...destroy the middle class and usher in neofeudalism.
Serf's up, and it's us.
We'll necessarily have to kill everyone to fix this crap.
Yes, according to plan. The real plan. The plan they would never talk about publicly, but is displayed consistently in their actions.
Drain all the wealth out of the economy and the middle class, give it to Wall Street, the government, and various banks around the world under the cover story of saving the financial system.
Results of this plan? Destroying the American economy, reducing the American middle class to poverty.
When the middle class is gone, put the finishing touches on their new police state government ruling over their new feudalistic society of rich and poor.
People talk about "taking America back".
America isn't worth saving. Principles America was founded on have long since been forgotten by the government and the people.
America has no future, unless you call living as a serf on government land, giving 80% of whatever you make to the government, a future.
What? You own your place?
No you don't. The government owns it. You pay rent on it each year to the government. It's called "property tax". So no, you don't own it. You rent it from the government.
Property tax and income tax was the beginning of this new feudalistic system.
To truly be free you have to own the land you live on, free and clear, no taxes on it, and own the fruit of your labor, free and clear, no taxes on it.
That ended decades ago with the implementation of property taxes and income taxes, which just get higher and higher.
Today we're in the final stages of their plan for feudalism. Keep draining wealth away from the middle class via currency debasement (giving it to the government via treasury bond buying and banks via bailouts), slowly reducing the middle class to poverty where income taxes and property taxes take a larger share of what they make.
And don't forget sales taxes and all other sorts of taxes and fees for various things. They're income taxes and property taxes for all practical purposes.
When income taxes and property taxes take about 80% of what people make, we're in the new feuldalistic system with a rich all-powerful police state government ruling every aspect of people's lives.
Sounds like a King doesn't it?
Yep, that's exactly what it is. The government has become the King for all practical purposes, doing whatever they want, making whatever laws they want to make.
No, America isn't worth saving with that kind of future.
Look at kids today. They have no understanding of the princples America was founded on. None. Zero.
They'll be obedient serfs in the new feudalistic system.
Some of us still remember those founding principles. But we'll be dead, and that knowledge will die with us.
The government knows there won't be a revolution of any sort. There's not enough will power among the people to do it now, and the relatively few who want to "take America back" will die out as time goes along.
No, the government isn't worried about any sort of "revolution". They're patient. They'll wait and let the "revolutionairies" die off, leaving a generation of obedient serfs with their smart phones and ipads and facebooks to keep them occupied in their new feudalistic system.
Sobering and well-reasoned. Hard to find any counter arguments to your conclusions that I actually believe in.
Empire America appears to be in an irreversible state of collapse, and the State will grasp their power more tightly on the slow way down.
It will be an ugly, miserable ride down, especially for those without a gold-infused parachute.
Well stated, but your use of the future tense is incorrect, what you say belongs in the past-imperfect and present/imperfect tenses. It has been happening for years and will not stop in the foreseeable future.
One other minor pedantic point, depending on your perspective of the history of this country, specifically it's degeneration, any new anti-government revolutionaries could be viewed as (reactionary) counter-revolutionaries, as the international left likes to call the American right and American libertarianism. It's a very idiotic and pedantic distinction, but the left will always rally against anything it deems counter-revolutionary, hence the "movement" amongst a minority of Americans to "retake" the country will never, ever find one ounce of support from the left, it will continue to be endlessly derided as X Y and Z. Well, they can fuck off, because the so-called counter-revolutionaries were in fact the last chance for this country to potentially correct its course, ironically AWAY from what the leftists themselves refer to as "capitalism" - the deformed and degenerate capitalism of neo-liberal economies: end-stage monopoly-corporate state-capitalism which is beyond rational economic analysis.
It is advisable to read up on leftist, internationalist, Marxist(-Leninist), Stalinist, Maoist, Trotskyist, left|right communist, and affiliated beliefs because they are still very much active in the world and will be ever more relevant in coming times.
Get to Work Ben...Shumer,...
0.6 headline cpi... we just got more, what we were not looking for...
The greatest example of Cognitive Delusion
Kriminally inKompetant Kleptocrat
Mouth: meet FED dick
Obi Wan Krugnobi...The Farce is Strong in This One!
'more stronger' ?!?!?! What a great example of the quality of professors at Princeton University. PU for sure.
Four year old neice says "more better" all the time. Guess she has already graduated from Princeton. She is after all brilliant (i may be a tad biased).
Smart kid!
Give her a wad of monopoly money. If she runs around the house throwing it everywhere, she can skip Princeton straight for a high paying Fed position right away.
That's the service mark (SM) of the Fed, you know:
Fiat: mo' bettah than gold!
Yes. Tickle down Wealth Effect has worked so well for the last 30 years. So double fist that fed balance sheet.
I know i feel wealthier this morning......but the pain in my ass is causing me to have trouble walking.
Geithner welcomed the recovery in 2010, Bernanke in 2012.......and KY has been flying off the shelves in the interim.
The warm yellow trickle down economics! Bask in the wealth creation serfs!
A wonderous golden shower for us all!
"To QE Infintiy... and Beyond!"
Ben could have printed 10 trillion and Krugman would have said it's not enough. He is full of shit..he knows that no amount of printing will help.
Ben HAS printed $10 trillion. More like $30 trillion actually.
About 90% of it is "off balance sheet".
it's the Unlimited infinity version so in a long enough timeline, it will become to much.
These people are psychopaths. Krugman, Bernanke, Yellen, ... I'm serious. They are a danger to our country's survival.
Krugman is a fed mouthpiece.
Crap.....now you tell me!
Needs put on a starvation diet then.
yup, he's giving cover for their actions by making them appear to be reasonably conservative.
someone should really start calling him out on this in the comment section of his column @ NYT.
"Krugman is a fed mouthpiece."
Krugman is a fed codpiece.
Fixed it for you..
It's not that Krugman necessarily thinks the QE was too weak. It's just that he wants to be able to point back later, in the (to him probably unlikely) case that it doesn't work, and say "see, I told you so"; but without having to conclude that there was anything wrong with the "when in doubt, print" policy as such. That's what he always does. It's called hedging. He may be daft, but he's not stupid.
It's a given that QE 3(really 4) will fail just like the others. So of course it's never going to be big enough.
american are under jewish control...and you are too dumb (and to fat) to face it...
Bernanke is a piker.
.
.
Dr. Rudolf Havenstein, now there was a banker!
Good news for Smith & Wesson....
Revolt will come eventually when the sheeple wake up.
When Bernankes policies cause destruction on Main St, Krugman and the likes will still be quaffing caviar and champagne. Most likely in an offshore haven.
IMHO, perhaps this QE3 may mark the top. The reason that markets never crash this year is simply based on the hope that QE3 will come. Now QE3 has come but will it solve the problems of the economy or stop the deterioration of the European debt crisis? I don't think so.
Back on Sept 18 2007, markets soared when the Fed cut the federal funds rate by 50 bp, thinking the subprime problem was solved. Shortly after that, the top arrived. Later no matter how much the Fed cut the federal funds rate, there was one direction: down.
Paul Krugman for next FED chair!
Better as economic attache to the Lybian embassy.
Krugman: Idiot who wears the sad tarnished garb provided by Princeton University, The New York Times and Nobel. Could he be more stupider?
This guy can't even speak English properly, it's "more strong" you dumb fk, not stronger....tells you a lot about the "nobel" community
As a reminder: "we need a housing bubble to replace the nasdaq bubble"..Paul Krugman, Aug 2 2002
Thanks for that reminder....i just trhew up in my mouth a little bit.
Blame it on Sao Paulo. Gives him distance from the railroad cars piling up in the U.S..
"I NEED MORE FRESH BODIES FOR MY EXPERIMENTS" - Bernanke the Re-animator
I'm certain that Krugman is on Obama's shortlist to replace Bernanke, if the situation merits it.( In his mind)
Krugman's just jealous of Bernanke's worthless paper...
Morning all, it's me, the great Dollar Lama. Let's all start with our morning mantra...
"Om print more bigger sums of money....hum...,
Om print more bigger sums of money....hum.....,
Om print more bigger sums of money....hum.....,"
Repeat until something more gooder happens.
the fact that this fuckface has any credibility whatosever is a sad statement on our present reality.
1% solution, if you can't beater thems joiner thems.
Doubleplusgood way more gooder news for the markets. Fuel & food; not so much.
Must be nice to not have to work a day in your damn life, be wrong about everything, and yet be praised and earn an upper class lifestyle.
When the time comes I think the appropriate punishment is slowly roasting on a spit over a small fire.
Perhaps, with a two fist sized wad of $100 dollar bills, soaked in gasoline, stuffed in EVERY orifice instead of an apple.
Krugman not even worthy of comment. And Sudden Debt, HI, where you been?
Dr. Frederick Frankenstein: [to Igor] Now that brain that you gave me. Was it Hans Delbruck's?
Igor: [pause, then] No.
Dr. Frederick Frankenstein: Ah! Very good. Would you mind telling me whose brain I DID put in?
Igor: Then you won't be angry?
Dr. Frederick Frankenstein: I will NOT be angry.
Igor: Abby someone.
Yep Krug the Fed needed to buy more MBS (Mortgage Backed Shit) to bail out the banks. Fucking ludicrous.
Ah Krugman, you never fail to bring a smile to my face. I can see him now at his desk screaming "MOAR PRINTING!!!" with spittle running down his beard. Krugman with his bold and decisive plan to double the balance sheet every hour on the hour, Krugman for Fed Chairman 2014! He'll make us quadrillionaires!
The first dumbass awarded Nobel Prize.
2nd, forgot Obummer
This is the coordinated action. No matter how much Bernank prints, Krugman and his ilk will always say "MOAR". Thus when Bernank fails, keynsian insanity printing theory still survives since the obvious problem called out by genuises like Krugman is the Fed did not print enough to be effective.
Wait till this inflation hits the Arab Spring Peeps... they will be rioting when grain goes up 30%
I will say this. It isn't enough to bail out the banks in any long lasting way. And they will take their feebies to 40x leverage and make the problem worse. This no strings attached and no reform give away baloney is not solving anything. But they are not trying to solve anything. They are trying to kick the can because they don't see the larger problem that needs solved. Buy gold and wait.
Living large on the backs of productive labour.
That is all this stupid fucking mouth piece is, my shit is more coherent than krugmanite.
Zionist cunt
Krugman speaks, garbage spews out. What's new?
No Krug not THIS round of QE, the FINAL round is what it is! Get your shit together fuktard!
as stated on ZH in the recent past....its all about the flow now. very astute.
but now we also are at the end of the arsenal. with no end point of dollar level, how are the mkts supposed to know when the 'next dose' is coming. since there is no end point, there can be no 'beginning point' of a qe4 etc which is what mkts live for......we will now see the last diminishing return scenario play out.
how exactly does buying the MBS in the market lead to someone getting a job?? its like some kind of double-banked billiards shot...never know really what will happen.
bubble after bubble.....stocks at 17x p/e...cheap! when 3 yr money pays 1%....
the usual fear issues....bank failure in euro/us are moot; liquidity is moot; it may or may not be on the horizon...it may come from asia, surprise of sorts, or it could be a hot war suddnely if they get a lucky shot in on us somewhere.....it is Oct 2007 all over, complancy, obvious recession, obvious problem 'contained', 90 days later Bear went under.....but there are no investment houses anymore, all banks-all rescuable.....think cftc area, or fx? something wicked this way comes....
QE4 is when ben lifts it to 80bn per month that's moar, then moar will be 160bn and moarer biggerer uptastic until they get to mostest and oil wil be moarererer $2000 bl, then it will be still not quite enough.
FED Dollar Devaluation: 20%
Everyone out of US Dollar into Norwegian Kroner, and Canadian? yet.
the FED ICON: http://i.imgur.com/XaiUx.gif
Excellent Spanky usage.
I wonder if Obamacare would pay for a brain transplant for Krugman. They'd get a lot more benefit out of that money that they're getting for the rest of their stimulus spending.
Krugman is telegraphing that our debt ceiling will be breached.
He is giving cover for that move! Brilliant.
From what great height did Mr. Krugman fall from as a child and land upon his head, yet still survive the impact?
Better, Stronger, Faster
The Bionic QE!
Do you think Krugman ever complains when he is handed his script at the beginning of each week
It obviously wasn't Krugman in that car the other day ... he'd have been driving a Hummer. Fuckin' cock.
This is merely Krugman positioning himself to say that QE3+ failed because it wasn't enough. As opposed to having to accept that the entire concept of QEn is flawed to its core.
Paulie's gunnin for bernanks job
"More stronger"? In additon to being economically illiterate he's also plain old illiterate.
Shit, just reading the headline I wondered if such craziness might not have been spewed be The Krugman.
Then I thought: Naw, he wouldn't go out on such a limb so shortly after The Bernank's announcement.
Reality is stranger than fiction...