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Quote Of The Week
Presented without commentary:
"The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending."
Larry Summers, source
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propoganda (lies) then
it's not going to matter wether he's deiberately lying for 'The Bosses' or spoke those words as he believed in them. Either way he's going to eat them in a couple of years time because either way they're complete bollocks ...Larry Summers in a nutshell
Spoken like a delusional drug addict.
I have no idea what I'm doing. Somebody, please stop me from opening my mouth again.
- Larry Summers
Ether-sniffing rodeo clown perhaps?
Wow
The central irony of obesity is that while it is caused by too much doritos, too much icecream and pudding, and too much McDonald's, it can only be resolved with more doritos, more icecream and pudding, and more McDonald's.
ZH comment of the week
Who are you?
Your alter-ego...
Shit I'm in deep trouble now then.
Can I sell my alter-ego to the EFSF?
Maybe just leverage it?
I'm open to offers.
I have an SCX-4100 printer.
Do you have paper?
Its not really a single person/ But some of thier names are Theo Faron, Julian Taylor, and Jaspser Palmer. There are other names I have not figured out yet.
I dont want to know who they are. I would just be disappointed.
It seriously would hurt this place too much. ever since we lost Marla they would be welcome occasional freinds (Avatars), and there was a happy ending to that movie. not sure about fight club.
I submit that the real irony of the financial crisis is that this incredible instance if inanity comes from a former U.S. Secretary of the Treasury and Harvard University President.
Yep. You got a handle on things, guy.
Larry, is it you?
Oh boy- time to play everyone's favorite allegory game again....
Here goes:
"The central irony of flatulence is that while it is caused by too much soy, too much chili and beans, and too much broccoli, it can only be resolved with more soy, more chili and beans, and more broccoli."
Larry Summers is on to something... it's called the theory of central banking:
1 divided by 0 has meaning.
Perpetual (solvency) machines exist... it's called fractional reserve lending.
Linear extrapolation is the basis for all computations unless the slope is negative, in which case, just make it positive.
There is no risk so extreme that a central banker will not take it. Infinite risk is derived from infinite confidence (Thanks, Larry ;)... gee, you're smart)
There is no loss so extreme that the little people cannot bear it. Infinite loss is derived from infinite confidence. (I hate perpetual optimists... you are not alone Hugh Hendry)
Any more for the list, ZHers?
QC
you americans worrying about where food will come from when TSHTF should just open your eyes; you have huge fat defenceless people all around you...
So when did you stop smoking crack Mr. Summers?
Larry no smoke the crack. Larry sniff the crack.
Larry IS the crack.
the central irony of a ponzi is that the vast majority of aMericans and citizens of the world have been fucked in this must be rounded up for another ass raping to keep it going...Funny really (I can hear Larry chuckling bout this one)
Random thoughts - but I really do think Larry and the intelegentisia really do believe this will work as follows:
Too much debt, obligations, etc. growing significantly faster than economy or population leads to deflation (inability to take on more debt ---> leads to debt collapsing ---> leads to shrinking money supply --> leads to ability to create / distribute "money" to the 1% w/out true inflation (no wages rising, no assets rising in value...only small things like food, fuel) ---> allows those w/ access to free "money" (new loans @ 0.10% replacing diing loans that yielded 8.1%) to buy up worlds assets on the cheap while simultaneously strip mining the 99%'s unfunded liabilities ---> as more and more assets are owned federally they can be pedaled for next to nothing to the greatest among us and be rented by the least of us---> as unfunded liabilities fall apart workers become quite "receptive" to any wage even absent any "benefits" ---> a new global international elite is set accross the nations to drive the worlds economies buying yachts, wineries, and dripping their wealth onto the poor of the world.
Eventually wages are driven down far enough to ensure a standard going global wage and that no country or citizens have any leverage against this counterfeiting of wealth. Probably have it all wrong but seem that way to me, at least today.
Way off topic but seems if a country really wanted to maximize it's economic and social potential there would be no (hardly any) taxes while you are alive but also absolute deminius of programs for those able body and minded people. Just like the game Life, age 18 every youth is given the option for further education or $10k and told may the best man / woman win. Work, raise your family, retire, and hopefully die a happy person. But on your death, state takes whatever is left and recycles to pay the gov's bills. No American aristocracy, no lucky sperm club living off of trust funds, just pure opportunity for those most willing to work hard and build something...
I'll take 'Economics of the Brave New World' for 200...
"What is the definition of a ponzi scheme?"
yes, let's just make the utter collapse than much worse...insanity!
That way ya just won't notice the first collapse.
Sorta like our current pending maybe gonna slip into another (never fucking ended) recession.
larry summers: the sound of fingernails scraping a blackboard.
Unfucking real. Can this guy be serious. We really are living in the Twilight Zone.........downright scary.
I just forwarded this quote to a bunch of folks. I am completely at a loss. What a fucking total and complete moron.
Holy fucking shit. The blind are truly leading the stupid.
Haha! Just the way Krugman invisioned! The plan is coming together! You just have to watch next weeks espiode of "Twilight Zone: The Reality Show" to find out what bizzaro impossibility occurs.
Larry Summers evidently never learned the First Law of Holes - when you are in one, stop digging.
www.pmbug.com
Is this your homework, Larry?
We know this is his fucking homework.
Where's the fucking money you little brat?
Summers is a Keynesian brain dead. We can't grow out of debt. Marginal productivity of debt has been going down over the last 50 years. More debt added every time less growth. Reality proves that Keynesian theory is not science.
Problem is US shift from producers to consumers. Can't blame Chinese. Current enablers. Stop feeding the beast. Don't listen to idiots like Summers.
I feel sorry for whatever woman has accepted payment for having sex with him. My thoughts and prayers are with you.
This from a guy that thinks women can't count!!
Un f'n believable ......
Psssttt
Larry....
If your reading this....
Fuck Off and die you Rothschild cum swallowing scum.
We had to destroy the village in order to free the village - Vietnam quote
"I was for the war before I was against the war"
Ron Paul: "WTF? who introduced the declaration of war? I am pretty sure I would remember if I voted on a declaration of war between the worlds 1st largest standing army vs. the worlds 4th largest standing army (registered hunters in michigan notwithstanding)"
this is the smartest guy in the room? what room is that? romper room?
Mmmmmm.....Nope.....the oval office.....
That's cruel on so many levels.
Accurate nonetheless.
Sheesh, the conditioning has been comprehensive hasn't it, when Summers even has the audacity to post something like that. There really can't be much critical thinking going on out there. Lucky we have the blogosphere.
Oh yeah... the conditioning.
24/7/365
Just amazing what is transpiring and the average Joe's just missing the introduction to the real honest to Godless Statist New World Order.
There is no more "Are we there yet?" or "When the shit hits the fan."
We're there and it's a splattering.
The conditioning. Ever so comprehensive.
for your own good
for your own good
for your own good
for your own good
the oval office.....
like the man said.... romper room
sum·mer 1 (smr)
n.
1. The usually warmest season of the year, occurring between spring and autumn and constituting June, July, and August in the Northern Hemisphere, or, as calculated astronomically, extending from the summer solstice to the autumnal equinox.
2. A period of fruition, fulfillment, happiness, or beauty.
larr·y sum·mer 1 (lry smr)
n.
1. The usually the moronic season of the year between krugman and obama and found predominantly in the northern hemisphere or as calculated astronomically, extending into moronic levels.
2. A period lollipops, dragons and unicorns in cement golashes observing auqatative gravity.
His family changed their name.
That's right, it was originally Fairysongoffallandbeauty.
Now, if Steve Lies Man would admit to this on-air we would be getting somewhere...
I think he was channeling his inner Yogi Berra.
Now we know who inspired the euro bail out like the 2008 one!
The only way to free yourself is to understand that in no way can you free yourself.
Shit dude. Maybe Larry is some sorta Zen Master in disguise?
This bitch be cuhrazy!
Summers,
This is not irony, it is just simply the way the monetary system was designed to work (intentionally or unintentionally is not important). As for 'resolving' the crisis, no. The crisis will simply be perpetuated. At some point it all comes crashing down. The exponential function is not applicable to economics, as resources are finite. Therein lies the real irony, that economists are nothing more than clerics of a dying religion.
"intentionally or unintentionally"
By Jove, you've done it! Captured the zeitgeistical purity. (Kinda like the testicle of the moment, so to speak) The essence. As in it doesn't fucking matter anymore. It is what it is and who cares.
Brilliance!
And which means that nobody is responsible!
Freedom!
He disagrees with you.... And Dr. Albert Bartlett
What a fuckhead. The intellectual cornerstone behind the deregulation game. He must be stoned to unconscience by the success of his policy to let out such statements now. Had he been a diverted mind, he would have shut up and put a bullet through his head in the face of the consequences. But no, now, he needs to stand in public and fully dazed celebrate the glory in front of the cameras and mics of the corporate elite.
That dumbass can be sure he is not getting the intended applause in history books. The devil dressed as a scientiest. But his demeanour sure reveals his true mind.
Sounds like a terminally ill patient who refuses to visit the doctor.
Why would a terminally ill person visit a doctor????? To waste money and be at risk of dyin in a hospital rather than at home? Think about what you wrote.l
Only to get pain medicine to make it stop. Kind of like tuning out Larry Summers.
"...it can only be resolved with more confidence, more borrowing and lending, and more spending..."
Q -- Mr. Summers, please point us to an episode where such a crisis was cured with your solution of more, more, more.
A -- "Well, you dummy, it was FDR, '...fear itself...', in the Great Depression who cured a financial crisis with more confidence, more borrowing and lending, and more spending."
Q -- I thought you would say that. But, you are wrong. The Great Depression downturn was from '29-'33, and the upturn was over '33-'39. In my view -- and that of many Austrian economists -- the Great Depression was caused by a buildup of excessive consumer debt. That debt (mortgage, consumer credit, plus security debt, 'M/C/S') moved up from $40M in '22 to $71M in '29, with debt/GDP moving up from 54% to 69%.
Beginning in '30, GDP began falling, and hit its trough in '33. M/C/S debt began falling in '30, too. But, it did not stop falling in '33. No, M/C/S debt continued falling through '39.
Only in '39 did debt/GDP complete its fall from 69% and return to its normal level of 51%.
So, Mr. Summers, I submit that your solution of more, more, more did not cure the financial crisis of the Great Depression. I submit that 'less borrowing and lending' in fact cured the Great Depression.
A--- It was? I didn't know that? Where's you hear about that? Who told you? What? Alice? Alice! Where the fuck is Alice Rivlin when you need her? Alice?!?!
its the surplus level on the moon which is enticing ... how could we leverage up to access it so as to contribute to EFSF?
If only we had the Apollo program. We could go to limitless debt as the moon has limit less surpluses.
I'm inspired by LS.
Summers always goes "all in" bitchez.
Jim Cramer
After clicking on CNBC this morning the first thing I saw and heard was Jim Cramer. What a way to start the day, I didn't even have 30 seconds time before I had to call bullshit.
The self professed inside trader and stock manipulator, Jim Cramer, was cheerleading the European Greek bailout plan and telling the sheeple that "it really isn't as bad as all the shorts have been saying". He said CDS is not that big of a problem and "you have to hand it to Merkle".
COME ON! Hand it to Merkle? She caved!
The Euro system is so upside down and insolvent to the core that had Merkle (Germany) not caved in, the financial world would have been in complete seizure by this coming Monday. Oh yes, he also said with a straight face that the 50% writedown of Greek debt was not a "credit event"!
Not a credit event? Then what the hell do you call it Jim?
Some would call this "spin" when in fact it is outright lying and the only thing left to the media.
The fact is, sovereign governments are going down in this cycle. Spanish and Italian interest rates have been rising hard again and whether your CDS gets triggered or not by saying Greece did not have a credit event is a moot point.
This is about governments going broke.
Europe has proposed $1.4 Trillion in bailout funds and will surely not even be half of what is really needed. The problem ... the western world desperately needs more capital but creating this needed capital debases and dilutes the existing capital base. Don't print more and everything collapses, print more and your existing capital shrinks in real value.
There is no way out, this is like throwing someone in a dinghy in the middle of the ocean a lifeline that is attached to nothing. Pull on the rope or push on it, neither will work unless the rope (currency) is anchored to something real.
"How can no one see the obvious" and came to the conclusion that no one WANTS to see reality.
It is the Jim Cramer's of the world who are enlisted to "help" the ostriches keep their heads buried in the sand. Think about this for a moment, were someone to tell you 5-7 years ago that Gold would trade to $1,700, the U.S. would have it's credit rating downgraded (and be threatened with another one), several European nations on the brink of default (Greece already has), U.S. municipalities and states considering (and filing) bankruptcies, what would you think?
What would you think of Jim Cramer's cheerleading? I ask you these questions because right now people are looking at the trees and not the forest. The forest is one spooky place, almost as scary as the complacency (hope?) that is prevailing!
I for one just don't get it, it is so clear to me where we are financially I just cannot fathom "all is well".
www.lemetropolecafe.com
"Bear Stearns will be just fine"
The Irony is that presidents actually LISTEN to this guy! He's the reason we're in this problem.
Another Irony is we're all siting around waiting for the Eurocrats to acquire the testicular fortitude to follow Larry's advice; i.e., to do the wrong thing.
We know only after they have followed this unspeakbly horrible advice will they come to their senses, and start trying to figure out what the right thing is.
Pedal to the metal, bitches!
- Larry Summers at happy hour (started about 9 AM)
Does anyone have video or audio of this?
Mock, Laugh, MOCK and then let it sink in.
That is the goal.
Although 2002-2007 was a mirage built on a house of cards, the kleptocrats want it back.
Growth is the goal, and the means to that goal are NOT important, may not be lawful and the colleteral damage is unimportant.
They don't want change, they don't want sustainability, they want GROWTH and the bonuses that come with it.
Obama said he wanted change. His actions spoke louder than his words. He appointed the same people that caused 2008 and hoped this time would be different. And the next President will do the same.
Greed is good, uncontrollable greed is better.
So I take it he wants to steal all of our chocolate chip cookies.
Bastard.
More of Summers brilliant thinking
2011:
"The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending."
2012:
"The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending."
2013:
"The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending."
....and on and on...
Their fiancial system is ponzi. Their need for trust is ponzi. They are pure unadulterated ponzi in every aspect of their life.
Keep it simple, if it doesn't work in Excel it probably won't work IRL
http://www.dummies.com/how-to/content/dealing-with-circular-references-in-excel-2010-for.html
Exactly.
Banks and Sovereign Debt = #DIV/0!
Greece = #DIV/0!
PIIGS = #DIV/0!
U.S. = #DIV/0!
Etc.
My wife recommened a slight change to the quote just change the word resolved to continued and it makes sense:
There, my wife fixed it!
when he says more spending, i think he just wants to get paid more to suck TPTB cock
Spoken like a true addict. Let us replace Keynesian debt with alcohol:
Sure Larry, sure.
http://www.youtube.com/watch?v=XNtKdppOpbI
and women...
"The central irony of alcoholism is that while it is caused by too much alcohol, too much bourbon, and scotch, and too much beer, it can only be resolved with more alcohol, more bourbon, and scotch, and more beer."
I tried that....... Heheee
It didn't work!!!!!!!
What do they say about insanity?
Doing the same thing over and over again but expecting a different result.......
From the "World's Most Interesting Man" - "I don't always have sex, but when i do, I prefer a donkey."
was at the Occupy Wall Street forum a few minutes ago and some whiz kid there suggested hanging a banker or two.
thought it was an absurd idea without any real goal.
visit here and see that quote by Summers and am now thinking that kid has a workable plan.
That's what OWS is about. War against banks.
Yes but when the government wars on poverty. Poverty increases. When it wars against drugs. Drugs increases. When it wars against obfuscation, ofuscation increase when it wars on cancer cancer triples.
If the honest people war against something. I think that something is not in a protective bubble of developement. I think that something is in a war.
Actually that's where things are headed to.
With a face like that, he should be in a fish tank somewhere, preferrably in hell
Note that if you apply the confidence scheme definition to the word confidence in what he said, it matches his actions much better.
The bottom line is that The Fix Is In.
As predicted, the TPTB took control and they acted "decisively"
The reason the market is now in a full "NASA Space Launch Mode" is that the big money knows that more money will be piled on the problem no matter what.
So any bears here that are left with money in their accounts should use any short term correction to bail out.
Otherwise, the market could go straight up in a "Weimar Meltup" and leave everybody speechless.
If you have any doubt how strong the tape is, look at the Summation Index:
http://stockcharts.com/freecharts/McSumNYSE.html
Or the Advance Decline line:
http://stockcharts.com/h-sc/ui?s=$NYUD&p=D&yr=0&mn=8&dy=0&id=p70273094322&a=122406050
But, er, if everyone is one side of the boat, the opposite will happen. By definition, only the minority win on the markets... that's why it's a transfer of wealth machine, the majprity can't win.
I posted one week ago the question. What would happen if europe reaches agreement?
You are right only the minority can make more than average returns. It requires not drinking anyone's koolaid. One is not a contrarian if he is on the side of the boat leaning the most.
You have a point.
What a real "market" would have fixed years ago, the nanny central banks and governments have prevented, ensuring that the usurious speculators and the gambling hordes can keep playing.
The end of the evening will come, the hangover will come, the fights, the wailing and gnashing of teeth; yet no one wants it to come so the liquor and the money will continue to flow for the time being.
Yep, pretty much. We're all robots now.
Me I'll just do what the banks do. Wait till someone starts bragging about being a taxpayer and then rob him.
what a dumb cocksucker
This quote is right up there with these beauties:
"The U.S. government has a technology, called a printing press (or today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at no cost." Helicopter Ben
"If we all join hands and go buy a new SUV, everything will be all right." Fed President Fred McTeer
"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" Sir Alan on Meet the Press
And "No risk of that, no risk," Tim Geithner, of the U.S. being downgraded by S & P.
Completely OT:
"Schäuble in luck
Scrap bank discovered 55.5 billion €"
http://translate.google.com/translate?hl=en&ie=UTF8&prev=_t&sl=auto&tl=e...
And you thought Greece "finding" 5 billion Euro was surreal...
I guess Chunky Summers rejects the simple concept of diminishing marginal productivity of debt. Would love to hear his rebuttal to this concept and the supporting data.
Einstein's definition of insanity a la Larry Summers, everyone.
I hear otherwise intelligent people repeat that all the time. When I question them about it, I hear that it's complicated, and then they tell me stories about FDR.
He stole the quote from the founder of fast food himself, who was a bit of a minimalist poet;
I make shit to eat shit to make shit.
@ l.h. summers
"The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending. Most policy failures in the United States stem from a failure to appreciate this truism and therefore to take steps that would have been productive pre-crisis but are counterproductive now, with the economy severely constrained by lack of confidence and demand." ....
.
comment: the constraint in the economy is caused by the failure of
the monetary system, not the hocus pocus "policy" designed to mask
the utter failure of usury as a virtue. there is no irony and no truism
here. debt as money requires insane lending, development, spending and
consumption to satisfy the math of the need for growth, regardless of
the wasteful nature of the activity. financialization and imperial
over reach , land grabs and war are all latent and coded in the simple
inequality p (not =) p+I.
so yes, we need the insane to print more so the securities (fraud) don't fail
just yet.
larry, for an intelligent and educated educator you sure do avoid
the important presumptions and assumptions embedded in your thinking.
it leads one to suspect you may just be a con man or a crook with a
few good connections. the people aren't impressed, being broke and indebted,
with offers of more credit at interest. we want the negative interest rate
loans dog! like the ones you exploit to your personal advantage. what are
we, chopped liver?
Just because p doesn't equal p + I today doesn't mean it won't tomorrow.
You dont have a crystal ball. You don't know the future.
And that folks is our financial system.
if p today will never = p+ I, which it cannot, tomorrow requires
new p ( credit, lent into liquidity, money ) to sustain
systemic function of the derivative emerged securities and the main function.
if not, you have collapse or enron accounting to suspend
time and basic qualitative temporal stations, never mind
and ignoring qualitative considerations. scam "r" the money notes. period.
fuck it, play music!
and oh..
end the fed and all that hangs off it.
"if p today will never = p+ I, which it cannot, tomorrow requires
new p ( credit, lent into liquidity, money ) to sustain"
Exactly. The fed doesn't want to create housing bubbles it HAS to.
It doesn't want to have rediculous government job salaries and retirement plans. IT HAS TO to create future p + I to give to corporations to make it weapons and stuff as right now p.
It has to continually depreciate the dollar.
It has to cheat to win. It has to win to cheat. So don't fight it. It can't take it.
" since i was a kid my dad tried to teach me
how to hit the ball the other way. " david freeze.
there the quote of the week.
it can only be resolved with more confidence, more borrowing and lending, and more spending.
YES!
Put the economy....ON ROIDS!!!!!
SUPER_SIZE ME!
That's the spririt that made the Bush administration some great years to be alive.
Double your work hours, double your debt, double your SUV, double your McMansion, double your gizmos from Asia, double your wasitline, double your wars and raise your kids to be Yoopies! Weeeeeee!
It pays to be Paul Samuelson's son-in-law. Otherwise this loser would be at Ft Hays St College.
Interesting, isn’t it, that Larry’s father changed the family surname of Samuelson to “Summers”?
“Summers was born in New Haven, Connecticut, on November 30, 1954, into a Jewish family, the son of two economists, Robert Summers and Anita Summers of (Romanian-Jewish ancestry), who are both professors at the University of Pennsylvania, as well as the nephew of two Nobel laureates in economics: Paul Samuelson (sibling of Robert Summers, who, following an older brother's example, changed the family name from Samuelson to Summers) and Kenneth Arrow (Anita Summers's brother).”
http://en.wikipedia.org/wiki/Lawrence_Summers
In the article, Summers also writes:
In other words, Larry Summers thinks the solution to the housing crisis is to lower lending requirements still further. My response: Yes, let's do it! In fact, let's lower credit standards so much that anyone who can breathe can borrow money to buy a house-- then let's see what happens!
(It's a joke, because we already saw what happens when we pursue that strategy: The market eventually collapses.)
The definition of a bubble is when asset prices rise above levels that incomes can sustain. By eroding credit requirements still further, Summers would make home-buying available to people with even lower incomes, thereby making the housing market even more prone to implosion.
You know, you have to stop and wonder if Larry Summers can really be unaware of this. What does it say about the economics profession?
let's lower credit standards so much that anyone who can breathe can borrow money to buy a house-- then let's see what happens!
Yes!! We can't openly give houses away, but we'll give it good cover by having lawyers and people in suits push some papers, but YES!! we'll give houses away and let the Fed print the money to buy the houses with. Give each family a $200,000 escrow or Groupon valid only for a house built by one of 3 crony companies and aministered by one of 3 crony banks. It's a win win win win win win win!
Mr. Summers article is a clear, precise and well articulated argument as to why there WILL NOT be voluntary political change in this country and within the financial power brokers controlled Congress. He either believes in what he writes very strongly, or as an insider, he is part of the financial propaganda machine.
Either way, he is not capable of change. The President tied himself to Summers and those like him almost from day one after his election. He could have chosen others, like Professor Black or Bill Siedman (before his death.) He however chose Summers.
Whether knowingly or unknowingly his Presidency was doomed to failure from that moment on. Pity our country, for in our moment of need we got timidity instead of boldness, lawlessness instead of the rule of law, financial oligarchy instead of freedom.
True
O-bummer is the audacity of hopelessness
thas now called a catch-44
And this is the central problem of the financial crisis. People who can't think outside the box. Or at least their agenda.
They can but they don't want to. It would be against their interests.
Why is this man allowed to roam the world loose? Why hasn't he been killed like the dog that he is? Why haven't a hundred million Americans gone to his house or place of work and dismembered him piece by piece and fed his remains to the fire ants?
http://news.yahoo.com/obama-declared-record-breaking-89-disasters-far-20...
I can think of a 90th.
I am new to the sight, but I feel this link provided should get a good laugh out of everyone.
http://www.huffingtonpost.com/2011/10/28/us-gdp-growth-us-economy-surpas...
You are new to the "site" as in "website" (the spelling Nazi has struck you with his Kar 98!).
Thanks for the link, a good laugh, a puff piece from the Huff, a fluffer if there ever was one.
dammit I am ashamed
Nah. Rule 8: The Newbie Must Fight.
And ya' did.
Good on ya.
Never ever apologize again unless you're just plain wrong or I tell you to.
Hang around long enough and you'll see that most everyone makes spelling errors once in awhile. If not those, grammatical errors. Nice link. I'm not hopeful.
Give a gambler more cash....do you solve his problem?
You buy me a hamburger 7 days a week and I pay you back for 2 hamburgers a week. Great system we got going here. Anybody else hungry?
"The central irony of financial crisis is that while it is caused by too many confidence men like Summers, it can never be resolved because the system allows too many confidence men like Summers to obstruct real resolutions."
Quote of the Week? How about Quote of the Generation?
Wait until you see what they come up with next week.
Within the context of fiat economies, the quote is an accurate appraisal of current conditions. The flaw in the circumstances themselves is that conditions are not static and the end of debt cycles is always incurable by subsequent doses of the same -poison. The average lifespan of purely fiat currencies is about 40 years. At the end, the piper gets paid in resources, sovereignty and flesh.
http://georgesblogforum.wordpress.com/2011/10/28/the-never-never-land-of-socialism-update-10282011/
Damn, where you guys been all week, high school testing?
The central truth of financial crisis is that while it is caused by too much fait money, too much goverment taxing and borring too much war , it can only be resolved with less goverment , less taxing on the ppl and sound responsable monatary system , and more work force
The man was and still is dangerous. We can only get back to more confidence, lending, borrowing and spending, if and only iff whole swathes of debt are written off and someone is willing take the loss. This he conveniently omits.
is this comedy? ;-)
Sadly , no
Heard Lauren Lyster repeat this Summerism while talking to Steve Keen on her new show - it did acheive a certain amount of inflation...........
www.youtube.com/watch?v=FWUMAxqMAOo
Dork - I did not see the Steve Keen interview at that link, but that does not matter because I did see a dreamy creamy cupie doll named Lauren Lyster for the first time. WOW! Thanks for the link.
Heard Lauren Lyster repeat this Summerism while talking to Steve Keen on her new show - it did acheive a certain amount of inflation...........
www.youtube.com/watch?v=FWUMAxqMAOo
In other words:
If stupidity got us into this mess, it also has to get us out.
Larry Summers is fat....that is all.
What a fat piece of dumb worthless shiite. Don't want to waste anymore time on this db.
I see some PAID shills are pressing green for MillionDollarBoneheads comments.
Ps.
You mdb are a piece of shit.
No he's not. He's just "good" at trolling.
Think of the guy as a blog-posting version of the two-minutes hate if it helps you any.
The biggest laugh is that people get riled up over him; I don't think we'll ever see "peak human stupidity."
Summers was recently nominated by Ritholtz as "The biggest asshole in America". That's a tough call because there are so many other deserving contendors?
Bernanke puts out the most shit--so, you can infer, by the pure volume of shit released--that Bernanke is one giant asshole; Bernanke has to be the biggest asshole in the western hemisphere.