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United Welfare States of America: In 2011 Nearly Half The Population Received Some Form Of Government Benefit

Tyler Durden's picture




 

While politicians may debate whether or not America is the most "generous" (with other generations' money of course) socialist welfare state in the history of mankind, the undoctored numbers make the affirmative case quite clear and without any chance for confusion. The single most disturbing statistic: in 2011 nearly half of the population lived in a household that receives some form of government benefit, which in turn accounted for 65% of total federal spending, or $2.5 trillion, and amount to 15% of GDP. And yet some people out there still think these people, long since indoctrinated to do little but mooch off the welfare state (which will continue subsidizing its existence so long as debt rates are so low that the government can issue trillions each year without fears of consequences) will halt their iTunes purchases, will voluntarily stop subsisting on the government's teat, or will rebel against a government which is their only source of income? Why? Especially since something tells us that there will be a peculiar overlap between this 50% and the 50% of Americans that pay zero taxes.

Of course, this chart should be observed in conjunction with the "What is this?" chart we presented two days ago from Morgan Stanley which pretty much explains everything about the US "economy"

From John Lohman

 

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Mon, 01/23/2012 - 00:07 | 2087579 EINSILVERGUY
EINSILVERGUY's picture

So is the 99% or the 1% on the receiving end of this? 

 

 

Mon, 01/23/2012 - 00:16 | 2087595 Manthong
Manthong's picture

“The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money.”

Alexis de Tocqueville, Democracy in America

Maybe he should have said "with their children's money".

Mon, 01/23/2012 - 00:48 | 2087686 hedgeless_horseman
hedgeless_horseman's picture

 

 

What is the difference between "cash assistance" and buying votes?

Vote Tammany Hall!

Mon, 01/23/2012 - 01:01 | 2087752 NewThor
NewThor's picture

My mom was wealthy.

My dad was poor.

I grew up witnessing both tales of the tape.

The Nero Bankers use everthing they can

to divide and conquer us all.

Money, religion, race, gender, sex.

My only resources are my mind, my heart and my friends.

For the last 3 years, I've been speaking of the coming currency collapse.

You could see the writing on the wall back in the ENRON days.

and it has only gotten worse, worst and worstest.

Today, I spent a few hours with a gentleman who is an Ex - Crip from the Dallas South Side and some of his friends. He'd doesn't bang anymore, but he's still in tight with them.

It's surprising how the approaching death of the financial system, unites sensible Americans.

I'm really glad I've been making so many Deputy badges.

The most HILARIOUS thing about all this fucked up shit.....

....is that in a financial collapse, most poor people will find their life style stays the same or improves.

It's the upper middle class to the really rich that'll be blowing their own brains out.

God bless everyone,

and

God Speed good Saints!

 

 

Mon, 01/23/2012 - 01:58 | 2087868 johnu1978
johnu1978's picture

This article is unf*cking real!!!

 

-John
http://www.youtube.com/johnu78

Mon, 01/23/2012 - 02:04 | 2087879 Vaiman
Vaiman's picture

You can thank Obama Buddy for all the benefits offered by his socialist govt.  His plan for change under socialism seems to be going according to plan!

Mon, 01/23/2012 - 02:08 | 2087890 NewThor
NewThor's picture

Are you saying that Barack Obama was a priest in the Spanish Inquisition, learned to drink blood to extend his life, and since then has been hatching this master plan to unleash socialism in 2012?

That's a crazy fucking theory.

It'd be an awesome action film. It'd need kung fu

and asian chicks to  work though.

When Barack and the Bernank shake hands,

it's pretty clear that

the Bernank holds the

"higher" rank.

use brain to think

Mon, 01/23/2012 - 02:28 | 2087913 Michael
Michael's picture

No shit Sherlock;

Subculture of Americans prepares for civilization's collapse

http://www.reuters.com/article/2012/01/21/us-usa-civilization-collapse-idUSTRE80K0LA20120121

Mon, 01/23/2012 - 02:59 | 2087947 Ahmeexnal
Ahmeexnal's picture

something tells us that there will be a peculiar overlap between this 50% and the 50% of Americans that pay zero taxes.

 

And that will also overlap with the 50% who vote for Ogolfer.  Of course, if he can raise that percentage just a bit before election time comes, then everyone gets 4 more years of Hope, Change....and foodstamps!

Mon, 01/23/2012 - 03:11 | 2087964 Oh regional Indian
Oh regional Indian's picture

Ahmee, it's probably much more insidious than that, don't you think? These NUMBers tell a story of a failing nation, actually a purposely failed nation.

All going hand in hand, hand-to-mouth, no? We'll swallow your 401 K and Soc Sec., but give you SNAP cards in exchange. See? How nice we are.

I think government funded food kitchens serving factroy farmed and factory produced frankenfoods is the future. Else why would they clamp down so hard on the small farmer?

It's the addictive government Coke-teat.

No one is allowed to thrive. You may however survive at our pleasure.

It's coming everywhere by the way. India has it's own version of the SS NUMBer scheme under-way. once everyone is tagged, they start to close the gates.

Big gates, they close slowly, but when they shut....

CLANGGGGGGG......

ori

/whither-india/

Mon, 01/23/2012 - 03:46 | 2087998 NewThor
NewThor's picture

Food stamps are as easy to print as dollars.

 

Mon, 01/23/2012 - 04:41 | 2088028 Oh regional Indian
Oh regional Indian's picture

Indeed NT. And Snap Cards are a one time cost.

Winner? Gold Mansacks.

ori

Mon, 01/23/2012 - 07:48 | 2088105 Cloud9.5
Cloud9.5's picture

I thought J.P. Morgan ran SNAP.

Mon, 01/23/2012 - 08:07 | 2088127 HungrySeagull
HungrySeagull's picture

We don't do SNAP, We dont do heat assistance, we dont do education (Other than what really bites compared to street, fire, police etc in tax)

Half this stuff did not exist before Obama took office.

I remember even more back when the Nation actually tried to help get people off welfare. And for a time I think they did.

 

I am not including the Vet, VA, Disabled and Social security. Just these chart programs.

 

If you took the pie away and let the People fend for themselves, you WILL have disorder and a big problem this winter.

 

It's a shame because there are still thousands asleep for every dozen who wake up.

Mon, 01/23/2012 - 09:15 | 2088186 flattrader
flattrader's picture

>>>Half this stuff did not exist before Obama took office.<<<

You are either very young or very stupid.

Pick one.

Mon, 01/23/2012 - 10:56 | 2088519 RockyRacoon
RockyRacoon's picture

Young and stupid are not exclusionary.  One can be both.  I suspect that to be the case here.

Mon, 01/23/2012 - 11:21 | 2088610 trav7777
trav7777's picture

direct payments include Mediscare, SS...they are a function of demographic shifts, not anything sinister.

Mon, 01/23/2012 - 11:36 | 2088666 caconhma
caconhma's picture

Here comes the "Soviet Kiss of Death": the still working 50% of American will stop working shortly with nobody working any more in the United Soviet State of America. Well, the FED will try to keep printing presses running...

Then comes a revolution since people do not like going hungry and government "law-enforcers" going unpaid.

Mon, 01/23/2012 - 08:08 | 2088130 Oh regional Indian
Oh regional Indian's picture

You may be right 1.5.

This, I thought, was a kicker... "In Washington, D.C., and Mississippi, more than one-fifth of residents receive food stamps."

ori

Mon, 01/23/2012 - 09:00 | 2088209 flattrader
flattrader's picture

Where's the direct federal payments charts and graphs to the 1% predator class?

Hmmm???

Really, Tyler...Divide and conquer?  Yes, I know it's about views, posts...eyeballs.

Get them frothing at the mouth over payments to the moochers and underclass...while the truly heinous payouts go ignored...at least you could have mentioned an aggregate number for some balance.

Hmmm???

 

Mon, 01/23/2012 - 10:09 | 2088367 barroter
barroter's picture

Ahhh...Yes. We must NEVER discuss subsidies to the corporations and banks, but scream Holy Murder if Fed $ shore up school lunch programs.

 

Mon, 01/23/2012 - 10:35 | 2088456 mick_richfield
mick_richfield's picture

Hey, I have an idea.

Maybe theft is wrong, no matter who you give the money to?

Mon, 01/23/2012 - 09:46 | 2088311 fireeater294
fireeater294's picture

i live in mississipi, and most of the afican americans are on EBT. A large majority have kids knowing they cannot afford the little ones. but the younguns are a pay check. The whites here are also getting the attitude that the govt also needs to take care of them also. It is a disease to culture and personal responsibility. The south has so many issues because of the attitudes of people on assistance. They dont take care of what is afforded to themby the tax payers, and they expect more and more. The issue also raises concerns about the health of these indivuals, i see it daily.They never work, they smoke, drink and take very little care of themselves causing a major burden to the hospitals and the entire healthcare system. They have no innitiative to take care of themselves becausethey know that healthcare is afforded to them. I for an example try to live a healthy lifestyle because I do not want the cost of my healthcare to rise where i am employed at. Untill the system either decays and becomes unsustainable or the govt puts these people to work for what they get it will never be fixed. NO MATTER WHAT! 

Mon, 01/23/2012 - 11:40 | 2088675 Are you kidding
Are you kidding's picture

Those are the same people who "refuse to do the jobs the illegals are doing". I'm as stumped as you. Why aren't they told to work? Slavery guilt perhaps? Can't MAKE them "work the fields". Vote buying, that's all it is, they raise their own voters.

Mon, 01/23/2012 - 08:02 | 2088118 Landrew
Landrew's picture

NO ONE PAYS zero taxes! If you are alive you pay taxes! Just because you are without a job doesn't mean you don't pay taxes.Just because all there is, is part time work for near nothing doesn't mean you don't pay taxes. You sound like a hack from the Cock brothers 1% team? So you are a tool of the 1%. I pay more in % taxes than Mitt!

Mon, 01/23/2012 - 08:29 | 2088157 hedgeless_horseman
hedgeless_horseman's picture

 

 

True, if you use dollars you pay the inflation tax.

http://www.lewrockwell.com/paul/paul334.html

Mon, 01/23/2012 - 10:17 | 2088313 Bob
Bob's picture

True.  This would seem to be either far too complex a matter for the mathematically challenged finance class to comprehend or just another example of their routine dishonesty. 

http://www.nationofchange.org/gop-53-wrong-1325956453

Mon, 01/23/2012 - 03:02 | 2087954 RichyRoo
RichyRoo's picture

can we work in some giant fighting robots?

Mon, 01/23/2012 - 03:43 | 2087996 NewThor
NewThor's picture

Done deal.

Mon, 01/23/2012 - 07:10 | 2088082 defencev
defencev's picture

No. It is much more simple. Obama infringes upon our freedoms. By means of introducing various types of regulations he suffocates the economy of this country. He weakens the country and as a result diminishes job opportunities and put more people on needle of dependence on government assistance. For those who try to preserve their assets offshore he makes it more and more difficult to do so.

He grows the country debt preparing the eventual country collapse.

He stops the measures to achieve energy independence. He stops technological advances (like space exploration). He wastes money on projects which make no economic sense to accelerate bunkrupcy. (Salindra, Government motors)

Obama is the worst thing that happened to America. It is not the question that  most of us  probably  need to pay more taxes, it is our freedom (including economic one) that rapidly disappears. Obama ultimate goal is default. He will then introduce the state of emergency, close the borders and become de facto the dictator. Mouth trap will be shut. And then you will see what Marxist paradise really mean. In this respect Ron Paul is absolutely correct. The problem is: he will never be elected.

Mon, 01/23/2012 - 08:41 | 2088176 tarsubil
tarsubil's picture

Give me a break. Obama reads a teleprompter and lives it up. All these evil things have been going on for the last 100 years and progressively gotten worse over time. The idea that it is all Obama in the last couple years is just ridiculous. Lyndon Johnson or FDR were far worse for this country. Obama is just a stooge.

Mon, 01/23/2012 - 11:32 | 2088651 DanDaley
DanDaley's picture

The so-called Progressives (Teddy Roosevelt, Wilson, and FDR) were the beginning of the end; Omojo is the end-of-the-end, the icing on the cake.  All you have to know is what you are going to do when they come a knockin'.  Everything else is academic.

Mon, 01/23/2012 - 11:08 | 2088554 RockyRacoon
RockyRacoon's picture

Obama is a convenient and visible target -- that is all.   Anyone who can't see past this decoy is quite short-sighted.   Rotating the White House shills is the game being played.  If you believe that a POTUS can fix any of this, you need to get out more.

Mon, 01/23/2012 - 11:06 | 2088549 rsnoble
rsnoble's picture

Yep, surely Gingrich or Romney will see us thru this. LMAO.

Mon, 01/23/2012 - 01:08 | 2087770 tiger7905
tiger7905's picture

Don Coxe Update, says everyone should have significant gold exposure and see's a gold reprice by the US at some point.

 

http://goldandsilverlinings.com/?p=1853

 

 

 

Mon, 01/23/2012 - 03:23 | 2087943 AbruptlyKawaii
AbruptlyKawaii's picture

zionists to kill obarry?

speaking of mooches, this from haaretz:

"The owner and publisher of the Atlanta Jewish Times, Andrew Adler, has suggested that Israeli Prime Minister Binyamin Netanyahu consider ordering a Mossad hit team to assassinate U.S. President Barack Obama so that his successor will defend Israel against Iran."

http://www.haaretz.com/news/international/uproar-after-jewish-american-n...

did the US Navy just deploy its oldest carrier, scheduled to be decommissioned next year, to the persian gulf?

 

 

Mon, 01/23/2012 - 03:44 | 2087997 navy62802
navy62802's picture

The US government spent $662 million to refurbish the Enterprise so it could make its final deployment. Yet people wonder why the country is broke.

Mon, 01/23/2012 - 06:55 | 2088076 ebear
ebear's picture

Aye.... she'll no take much more of this!

Mon, 01/23/2012 - 08:42 | 2088178 tarsubil
tarsubil's picture

But. Scotty. I. Need. Those... engines.

Mon, 01/23/2012 - 08:09 | 2088131 HungrySeagull
HungrySeagull's picture

Yes. It will not be much of a loss compared to the new carriers.

Also the Big E has some resources not availible to other ships in Commission today.

At least one Carrier is in the Bathtub right now. Just dont know which one.

Mon, 01/23/2012 - 08:47 | 2088187 smlbizman
smlbizman's picture

question....i have renters that receive sect. 8, that in turn i receive....which one of us is considered in the 50%?

Mon, 01/23/2012 - 09:10 | 2088229 Widowmaker
Widowmaker's picture

Both of you.

Rent is too damn high!

Do the rest of us a favor and price accordingly. You wont because you are addicted to other peoples money, too.

Mon, 01/23/2012 - 09:26 | 2088263 smlbizman
smlbizman's picture

tell me what the proper amount is?

Mon, 01/23/2012 - 10:17 | 2088392 Calmyourself
Calmyourself's picture

You have more patience than I, had to dump all sec 8, could not handle gov in my business.  What a cluster, especially the self important inspectors, great use for a pig farm those guys.  Whatever sec 8 is paying is too little for the cost of being attached to a gov teat..

Mon, 01/23/2012 - 00:52 | 2087718 Ghordius
Ghordius's picture

Ol' Alexis?! If he would have conversations in the US nowadays, he would notice that you don't say socialist, planning economy or "liberal" anymore, you say European. Against all facts, but hey, new times beget new swearwords...

Mon, 01/23/2012 - 01:09 | 2087773 NewThor
NewThor's picture

This comment is so muddled and confusing, I'm going to guess it's a FOXbot Algo used to spread profitable piffle.

FOXbot ALGO SAYS....

"REPUBLICAN GANGSTER BANKERS = GOOD

 DEMOCRAT GANGSTER BANKERS = BAD"

 

Mon, 01/23/2012 - 02:04 | 2087877 Ghordius
Ghordius's picture

Confusing? Just *TRY* to have a normal conversation with my UK and US relatives and you will find out that they think they live in the land of the free and that the eurozone is a socialist overregulated hellhole where half of the population is on some kind of government support.

Mon, 01/23/2012 - 02:11 | 2087893 NewThor
NewThor's picture

I live in Texas so I hear the word Liberal all the time.

and the term 'Socialism' is deader and dumber than 'free markets'

neither of those two exist anywhere on the planet

except in peoples minds.

I swear, sometimes it's like everyone on the planet believes

everything Ellsworth P. Toohey ever says.

And Howard Roark laughed.

Peace.

Mon, 01/23/2012 - 02:18 | 2087903 Ghordius
Ghordius's picture

Peace? Is good, let's hope we'll have some.
Socialism might be dead as a word in Texas, regrettably it's a beast alive and kicking in this world. Was just musing how 1984-like the UKUS political vocabulary is becoming...

Mon, 01/23/2012 - 02:28 | 2087912 NewThor
NewThor's picture

Define socialism for me please.

Mon, 01/23/2012 - 02:40 | 2087931 Ghordius
Ghordius's picture

? Karl Marx defined socialism as the collectivisation of the economy on the way to communism. It's best defined as the percentage of redistribution in the economy, where no redistribution is no socialism and total state ownership is communism.

Mon, 01/23/2012 - 03:50 | 2088001 NewThor
NewThor's picture

....sounds like 'wealithism' or 'distrobutionism' or 'resourceism'

I'm still trying to figure out where the 'social' part of socialism is.

It's a red herring term.

 

Mon, 01/23/2012 - 09:19 | 2088248 flattrader
flattrader's picture

>>>Karl Marx defined socialism as the collectivisation of the economy on the way to communism.<<<

...or corporatism...you do realize they are opposite sides of the same coin, don't you?

Mon, 01/23/2012 - 02:13 | 2087895 Ghordius
Ghordius's picture

You probably did not even get that I was commenting on the Alexis de Tocqueville remark above - did you read "Democracy in America". ?

Seriosly, it's ridiculous - whatever notions don't fit the current narrowminded vocabulary/discourse can't be digested at all, eh?

We are living in changing times, broaden your mind to adapt or go under.

Mon, 01/23/2012 - 02:35 | 2087922 NewThor
NewThor's picture

Me and my posse might adapt well enough to lock down a 5 mile radius around us, keep all of our people alive and fed, AND! Have the best fucking Saloon with live music in all of Texas, in a currency collapse style situation.

Mon, 01/23/2012 - 02:43 | 2087934 Ghordius
Ghordius's picture

Hope it works for you. Sounds very cowboy-like ;-)

Mon, 01/23/2012 - 10:56 | 2088523 Freddie
Freddie's picture

You sound like a moron who watches TV and thinks any network or channel is the same.  Sheep watch TV.

Mon, 01/23/2012 - 01:22 | 2087796 bpom
bpom's picture

Que la fuck?

Mon, 01/23/2012 - 02:37 | 2087925 NewThor
NewThor's picture

Isn't it  Que le fuck?

Fuck is masculino.

Mon, 01/23/2012 - 03:31 | 2087986 bpom
bpom's picture

Qu'on donne une fuck?

Mon, 01/23/2012 - 08:31 | 2088160 Chuck Walla
Chuck Walla's picture

"Maybe he should have said "with their children's money".

 

They have spent future taxes into the GRAND Children's money.  Isn't it great when a plan comes together? "Yes we can! (Enslave a nation through the use of miniscule bribes to idiots.)"

Mon, 01/23/2012 - 00:17 | 2087596 Dr Paul Krugman
Dr Paul Krugman's picture

I appreciate the work that goes into this blog's technical analysis very much.  But the fact is that if people no longer received assistance from the government the economy would be in shambles.  Unemployment would skyrocket.  GDP would plummet.  Then where would we be?

The option is to stimulate growth now and pay for it later.  It isn't like the U.S. is going to stop producing goods, food, and other such products.  After a "push" from stimulus then Americans will be back on their feet and GDP will rise.  Along the way debts will be paid off.  It has worked before, it will work now, and it will work again.

Mon, 01/23/2012 - 00:17 | 2087605 JPM Hater001
JPM Hater001's picture

That's funny. Unstoppable force please prepare to meet my immovable object.

Mon, 01/23/2012 - 00:32 | 2087648 Dr Paul Krugman
Dr Paul Krugman's picture

Considering the U.S. is the engine of growth for the global economy I think that at least trying to continue down a path that has worked for hundreds of years is apropo, no?

Mon, 01/23/2012 - 00:48 | 2087709 JPM Hater001
JPM Hater001's picture

"Considering the U.S. is the engine of growth for the global economy"
Considering the U.S. is the engine of unsustainable consumption for the global economy

There. Fixed.

Mon, 01/23/2012 - 00:52 | 2087719 Dr Paul Krugman
Dr Paul Krugman's picture

Tell that to U.S. companies.  The Dow out performed the rest of the world for a reason.  That is America!

Mon, 01/23/2012 - 00:53 | 2087725 UP Forester
UP Forester's picture

Yeah!  They fudged the numbers fair-and-square!

What is wrong with you guys?

Mon, 01/23/2012 - 01:11 | 2087777 NewThor
NewThor's picture

So Dr. Krugman,

you believe in an economy where Central Banks have more power than all the governments combined?

...because that's what we've had since 2008.

"GIVE US WHAT WE WANT OR WE COLLAPSE THE WHOLE ECONOMY?"

It worked in 2008.

It's still working in 2012.

Mon, 01/23/2012 - 01:17 | 2087786 Dr Paul Krugman
Dr Paul Krugman's picture

A third party must control the money supply or else politics would get in the way of implementing the right measures.

Mon, 01/23/2012 - 01:22 | 2087795 NewThor
NewThor's picture

The 3rd party needs to be like Jesus Christ because absolute power corrupts absolutely, unless your divine.

Is that what makes the Federal Reserve rise above corruption,  its divinity?

Would you say that our government has a good checks and balances system with the Federal Reserve?

 

Mon, 01/23/2012 - 01:26 | 2087806 Dr Paul Krugman
Dr Paul Krugman's picture

There really isn't an alternative.

Mon, 01/23/2012 - 01:36 | 2087830 NewThor
NewThor's picture

That's the stupidest thing I've ever heard anyone say.

Do you understand what the word 'alternative' means?

 

Mon, 01/23/2012 - 02:21 | 2087905 MsCreant
MsCreant's picture

I want to take the bait too!

What if people are not all entitled to jobs? What if they need to be free in a free market to earn the right to have one? What if managing an economy causes unemployment? What if revolution and sliting throats of those who cheat and manage is a natural part of "the market?"

Managing a market is cheating (thus words like "manipulation"). It keeps the natural forces of supply and demand and capital mobilization from flowing to what really works. If moral hazard is what works then moral hazard is what will happen. The whole system becomes a series of non productive shortcuts. If you want to game the system, let it be the eco system and let evolution sort it out. 

What we are currently doing, letting central bankers do it, is failing. 

Mon, 01/23/2012 - 02:42 | 2087935 NewThor
NewThor's picture

What if Central Bankers are as corrupt as Politicians?

As a screenwriter, I'd say this would bring about

HOPE then GLOOM then BOOM then DOOM

 

Mon, 01/23/2012 - 05:44 | 2088045 Cadavre
Cadavre's picture

There really isn't an alternative.

Do, and so much, love it when estemed silver goatees speak absolutes.

"There really isn't an alternative" is always the answer when confronted with an inescapable fate and the answer is always denial. You know!  Like when Antoinette heard Early French Provincial Heavy Metal Music - you know - the droning unavoidable all encompassing surround sound rhythmics of a  black smith 's rasp buffing and putting a fine edge on a very special guillotine blade. Souls that have sacrificed their survival skills for token wealth sanctioned by dominion heresy will deny the blacksmith is doing them a favor either that or he's serrating it for a slow, yet satisfying and most entertaining exquisitely painful, chop lob of one's head!

Wishing desperately to continue your denial therapies, but, and since, you be here, perhaps you can offer insight into two seemingly unanswerable questions:

1) What the F* is "Cold Brew" tea?

2) What came first, Goldman structuring term debt offers for it's clients, or, the CDS shorts Goldman writes against the placements it serviced for it's clients?

The article we all talking about asserts: in 2011 nearly half of the population lived in a household that receives some form of government benefit.

Anyone asking what a benefit is yet? A benefit to a doe in the cross hairs could be a drunken hunter, right?

Now some FED history, strait from the mouth a guy that was at Versailles when the second half (or genocide phase) of WWI turned Germany to pyres of sweet smoldering man flash. Speaking of, of course; Benjamin Friedman (easy read full-o-fun-facts). Please allow a brief summary:

* For all practical purposes, WWI ended in 1913. The UK had agreed to surrender, a gentleman's surrender, to Germany. Americans (including American Jews) were behind Germany's cause and against the UK. Then .. the secretive shadow banksters of the gay 90's showed themselves. The name of the shadow bankers' PAC was, "World Zionist Organization", or WZO ....

* The WZO approached the UK home secretary and suggested the UK would not have to suffer the embarrassment of surrender. The WZO had an alternative and storied to our "just lost their asses but it could've been a lot worse" bus boys in the UK government the WZO's plan ...

* The WZO assured the UK secretary that they would be able to sway America to cough up blood and treasure and that they. the WZO, would be able to finance the bullets and coffins soze the poor Brits wouldn't have to suffer their pangs of vanity of by signing off on very generous "everything will be as if the war never happened", surrender offered by the victorious Germans. All the fish `n chip pen stripped dandies working the hat room on Downing street had to was ...

* The Alternative offered by the WZO in effect traded something the UK didn't own, Palestine, for the WZO's firm guarantee to deliver mounting repo fiats and oceans of blood.

* Overnight, US controlled media outlets did all they could to make it sound like American sentiment had changed in favor of the UK.

* Woodrow Wilson, who was elected to hold the pen because he assured American voters he would not get the US into WWI and that he {Wilson] would not sign the Federal Reserve Act. ... how a moment can change one's perspective - had a visit from ..

* US Supreme Court Chief Justice Brandeis paid a service entrance visit to White House with a satchel of compromising "evidence" and suggested the Woodrow do a 180 on the promises ("no one believes a politicians promise anyway" - so what did it matter). Brandeis assure (by now soft) "Woody" the contents of the satchel would be their little secret, and all Softy - err Woody - had to do was sign the Federal Reserve Act (the FED is the central bank of central banks - the FED is the Primary War Usury Bank)  and request a Declaration of War Against Germany after some American ocean liner took a hit from a hearsay torpedo tack.

And there you have it - to - to - daaaaaaa

So now you know why all them ZOG institutions have at least one hall named for Woody Wilson, and another for "here come da judge", Chief Justice Brandeis.

And oh BTW Pauly Boy - I thought you was out shilling an economic recovery through government spending for a "space alien" defense network.

Tell`n - ounce you had one of them Tralfamadorian B-Girls - you don't never come back to the home kitchen!

Mon, 01/23/2012 - 08:00 | 2088111 CONners
CONners's picture

Next time add that Oklahoma City, the Grassy Knoll and Roswell form a triangle.

Mon, 01/23/2012 - 08:12 | 2088135 CONners
CONners's picture

The Fed and the banks do no good which they could not do better in a split-up and scattered condition.  An alternative is to end the Fed.  An alternative is to end TBTF.

Mon, 01/23/2012 - 08:42 | 2088166 Chuck Walla
Chuck Walla's picture

Dr. Paul, you keep forgeting the /sarc indicator as you throw bait to the Bubbas. Hey, and is the below a true account of very clear thinking?

 

Hack editorialist Paul Krugman attacked Jim Bunning last week for blocking the extension of unemployment benefits. Krugman said “What Democrats believe is what textbook economics says”, namely that the government should keep paying unemployment benefits.

There’s just one problem. As James Taranto pointed out, a Nobel Prize winning economist has written a very popular textbook that points out exactly what Republicans are saying — “Public policy designed to help workers who lose their jobs can lead to structural unemployment as an unintended side effect . . . . Generous unemployment benefits in some European countries are widely believed to be one of the main causes of “Eurosclerosis,” the persistent high unemployment that affects a number of European countries.”

The author? Nobel Prize winning economist Paul Krugman and his wife Robin Wells.

 

Mon, 01/23/2012 - 09:10 | 2088230 flattrader
flattrader's picture

Structural unemployment?  Hmmm...Here's a solution--

So, Americans just need to build factories with armed guards (labor camps), have the workers live in dormitories, starve the workers, deny them sleep, pay them .70 per hour, make them work 12 to 16 hours a day for 13 day stints before a day off, when they try to commit suicide erect bars over the windows and catch nets and if they organize, send them to reeducation camps which are labor prisons...then we can have our Apple jobs back.

http://www.nytimes.com/2012/01/22/business/apple-america-and-a-squeezed-...

...Not long ago, Apple boasted that its products were made in America. Today, few are. Almost all of the 70 million iPhones, 30 million iPads and 59 million other products Apple sold last year were manufactured overseas.

Why can’t that work come home? Mr. Obama asked.

Mr. Jobs’s reply was unambiguous. “Those jobs aren’t coming back,” he said, according to another dinner guest...

and

...“Apple’s an example of why it’s so hard to create middle-class jobs in the U.S. now,” said Jared Bernstein, who until last year was an economic adviser to the White House.

“If it’s the pinnacle of capitalism, we should be worried.”

Apple executives say that going overseas, at this point, is their only option. One former executive described how the company relied upon a Chinese factory to revamp iPhone manufacturing just weeks before the device was due on shelves. Apple had redesigned the iPhone’s screen at the last minute, forcing an assembly line overhaul. New screens began arriving at the plant near midnight.

A foreman immediately roused 8,000 workers inside the company’s dormitories, according to the executive. Each employee was given a biscuit and a cup of tea, guided to a workstation and within half an hour started a 12-hour shift fitting glass screens into beveled frames. Within 96 hours, the plant was producing over 10,000 iPhones a day.

“The speed and flexibility is breathtaking,” the executive said. “There’s no American plant that can match that.” ...

 

 

Mon, 01/23/2012 - 10:12 | 2088379 barroter
barroter's picture

Sounds like the work day at Buna/Monowitz at one time...

Mon, 01/23/2012 - 11:22 | 2088614 Absinthe Minded
Absinthe Minded's picture

Thank God for China.

There is no way those jobs are coming back. If they had to pay a manufacturer that actually had a conscience and treated workers fairly, that may put a dent in Apple's $350 billion piggy bank. If that is capitalism, resorting to what amounts to slave labor with children as young as 13 working 12-16 hours a day, we as a nation have lost. I am totally disgusted that our Congress looks the other way. Apple and other companies who use this slave labor should be boycotted. Unfortunately we are so far down this road nothing is made here anymore. Sodom and Gomorrah.

Mon, 01/23/2012 - 11:43 | 2088689 trav7777
trav7777's picture

...and these sons of bitches just LOVE the profits this type of slave labor generates.  I mean, face facts, these are androids, not humans.  Well, they try to be humans but the factory treats them as robots.  When one breaks down, they are replaced without concern or care or sympathy.  China is likely right now researching some chemical or mechanical means by which the higher human faculties can be removed from a person so as to make them devoid of any independent thought or emotion.  A cyborg like that would be a phenomenal piece of factory equipment.

Saint Jobs wouldn't have been as big a billionaire if his profit margins were limited by having to pay more to have his iShit constructed.

Mon, 01/23/2012 - 03:20 | 2087977 Return2Sanity
Return2Sanity's picture

Actually, the third party needs to be like an inert metal (and I think you know which one I have in mind) because the intense coordination going on between the Treasury and the Fed is very disturbing. You know the bond speculators are front running the Fed big time, and we have no idea what market there would actually be for US bonds if the Fed wasn't buying and if money wasn't fleeing Europe like so many rats off a sinking ship. Confidence is a funny thing you know--one minute people have it, and the next minute they don't.

Mon, 01/23/2012 - 05:53 | 2088049 Uber Vandal
Uber Vandal's picture

A third party must control the money supply or else politics would get in the way of implementing the right measures.

That sounds very similar to:

"Permit me to issue and control the money of a nation and I care not who makes its laws."

Mon, 01/23/2012 - 07:05 | 2088074 BorisTheBlade
BorisTheBlade's picture

politics would get in the way of implementing the right measures.

divine measures, here, fixed it for ya. forgot that it's a G-d's work that the Fed is doing?

Mon, 01/23/2012 - 08:10 | 2088134 Cloud9.5
Cloud9.5's picture

World banks have vested interests just like other factions. You are correct in labeling them as a third party.  You are blindsided by not recognizing the shenanigans and the manipulations your banker friends  pull to protect their vested interests are no different than the politics pulled by the Chicago mob now running our government.  Your error comes from assuming we are too big to fail.  Walk the Appian Way in Rome.  If you pause for a moment and listen very quietly, you may hear echos from the once powerful who thought the same thing. Imagine their surprise when the Visigoths sacked Rome. You can continue to print until you blow up the currency.  The value of money is a popular fiction.  That fiction can be destroyed.   Listen to the zeitgeist.  A sizable portion of the population is starting to understand that you cannot grow an economy with dwindling oil supplies?

Mon, 01/23/2012 - 01:28 | 2087813 Uber Vandal
Uber Vandal's picture

Didn't the Zimbabwe stock market also outperform the rest of the world, too?

Oh wait, it did.

But before Wall Street traders start packing their bags and heading south, they should bear in mind that these figures are just another representation of Zimbabwe's collapsing economy and are almost meaningless in real terms.

Just change Zimbabwe to the US, and it fits nicely.

Mon, 01/23/2012 - 01:31 | 2087814 n2dark
n2dark's picture

Dow is overrated. It's just an irrelevant price-weighted easily cartel-manipulated index. Also in a world where all other (liquid) investment alternatives are virtually nonexistent you'll always find some white noses willing to bet in a casino-like stock market. There you have it, your beloved America - the land of kitsch and immeasurable ignorance.

Mon, 01/23/2012 - 08:43 | 2088180 Waterfallsparkles
Waterfallsparkles's picture

OH PLEASE, Dr. Paul Krugman.  Quote "Dow out performed the rest of the world for a reason".

The reason for that is because most of the Companies in the Dow are doing most of their business OVERSEAS.  Plus, they are keeping their Money OVERSEAS so they will not have to pay American Taxes.

Mon, 01/23/2012 - 09:03 | 2088216 Widowmaker
Widowmaker's picture

I can mark fairy turds to fantasy, too.

Just like every piece of liars-linen in your purse.

Mon, 01/23/2012 - 08:36 | 2088169 Waterfallsparkles
Waterfallsparkles's picture

In all due respect Dr Krugman, I disagree.  I think that China is the engine of growth right now.  America used to be the engine of growth when we had a very good Manufacturing Base.  Today, America Manufactures almost nothing (except the Manufacture of Money from nothing). 

China's population is experiencing growth, rising income and standard of living.  American's are experiencing the opposite.  Lower income and a lower standard of living.

Mon, 01/23/2012 - 00:18 | 2087609 bnbdnb
bnbdnb's picture

I don't want new roads.

Mon, 01/23/2012 - 00:52 | 2087664 Conrad Murray
Conrad Murray's picture

Too bad. You think you can just go through life with a job, kids, and a picket fence while others suffer? Got news for you whitey, it's reparation time.

You're going to buy the roads, the meals, the weed, the liquor, the cell phones, the condoms, and whatever the hell else is needed by your countrymen.

You know why? Because you are a slave. A tax-paying, god-fearing, flag-waving, salt-of-the-earth slave. So, come tax day this year, smile proudly knowing you're a good citizen.

If you're extra good this year, maybe, MAYBE, you'll get to cheer at your idiot box while watching a few of the bombs your taxes paid for kill children.

Mon, 01/23/2012 - 01:29 | 2087816 NewThor
NewThor's picture

If I could legally grow marijuana, other than the seeds and the water I can't imagine a reason why I'd ever spend a dollar on 'weed'.

lots of interesting factors around a .22 cent pack of Cigarettes selling for $7.50 but who gives a fuck about bucks who can we all blame for everything that sucks?

Maybe everyone on the planet chants

"NONE OF THIS SHIT IS MY FAULT"

....everything will be fixed.

Mon, 01/23/2012 - 00:19 | 2087611 blindman
blindman's picture

hey,
are you the guy on t.v. or just using his
name?

Mon, 01/23/2012 - 00:26 | 2087628 The Big Ching-aso
The Big Ching-aso's picture

 

 

Welfare?   Debt?    According to Pritchard, we're kicking ass, taking names, and making the UK look like shit-tards.

WTF.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9031478/America-overcomes-the-debt-crisis-as-Britain-sinks-deeper-into-the-swamp.html

 

 

Mon, 01/23/2012 - 00:28 | 2087636 Michael
Mon, 01/23/2012 - 00:55 | 2087735 lynnybee
lynnybee's picture

great interview, thanks for posting, Michael !   

Mon, 01/23/2012 - 01:17 | 2087788 Michael
Michael's picture

Good to see ya dear LynnyB.

Don't know if this is related to the topic or not but it would have been a beautiful blue sky day here in SW Florida except for all the chemtrail/geo-engineering their doing down here today. I wrote the governor about but a lott good that's doing.

Some people in the chemtrail community should get their dollars together and make a 15 second commercial about it.

I'll write it for them;

A mother holding her beautiful girl in her arms, the child looks up into the sky and says to her mother, why are they spraying us like insects(emphasized)?

The mother responds, I don't know, but I wish they'd stop.

 

Mon, 01/23/2012 - 01:38 | 2087839 I Got Worms
I Got Worms's picture

Lots of chemtrails today in Austin as well. Fuckers.

Mon, 01/23/2012 - 01:55 | 2087856 Michael
Michael's picture

SW Florida international airport has only 250 flights going in and out a day max, 20 miles south of my location. Do the math, not all those flights are going north over Cape Coral. Some go east and some go west for the most part. Those are black ops planes laying down all those chemtrails. Do the math. Florida is a skinny dick like peninsula for Christs sake. There's no reason for all that air traffic over our state, no matter where any planes are going on Earth. It's not rocket science people.

Mon, 01/23/2012 - 01:58 | 2087867 NewThor
NewThor's picture

Watch the Nasa Soho Lasco Camera 1 and 2

the history from 1996 to now.

the sun started to go berzerk around 2006

solar flares and coronal mass ejections

popping off like crazy

I LOVE MY TINFOIL HAT!

Mon, 01/23/2012 - 02:08 | 2087887 Michael
Michael's picture

2012 is solar max year. Good luck with snow shoveling in the coming years.

Mon, 01/23/2012 - 02:18 | 2087901 NewThor
NewThor's picture

I'm addicted to the hope of Planet X.

The rate of UFO sightings up 3000% in the last 10 years

suggests

A) Aliens are totally real. And here.

B) The Governments of the world have MUCH MUCH MUCH better technology than 99.9% of the world have ever dreamed of.

Did you see the big rip in the sun the other day? That was cool.

Mon, 01/23/2012 - 02:04 | 2087878 Michael
Michael's picture

The people who were abused the most during the housing bubble, don't even know the most rudimentary basics of the fundamental laws of supply and demand.

In reference to the Bill Moyers video.

Mon, 01/23/2012 - 11:23 | 2088616 RockyRacoon
RockyRacoon's picture

I watched that Moyers show when it aired.   I think Moyers has concluded that he has nothing to lose now, so he's going for the throat.   I'll be sure to catch all the upcoming shows.   If they could spice up the show with a few F-bombs and some titties they could go viral!  Sigh...   Not in the cards I'm afraid.

Mon, 01/23/2012 - 03:54 | 2088005 Tompooz
Tompooz's picture


why are they spraying us like insects(emphasized)?

The mother responds, I don't know, but I wish they'd stop.

 

The mother (looking up from her TV) responds: the government knows what is good for us, dear.

Mon, 01/23/2012 - 00:30 | 2087641 Dr Paul Krugman
Dr Paul Krugman's picture

That is because they implemented austerity programs and the U.S. spent money helping its economy without cutting welfare.

Mon, 01/23/2012 - 02:13 | 2087897 lincolnsteffens
lincolnsteffens's picture

Didn't cut welfare?? If your income stays the same in dollars but those dollars are worth less each year it my look like no cut to an elitist like you. That's because you don't spend half your income on food. For someone on welfare or social security that doesn't get a raise in three years it is a cut.  Now they have to spend more to get the same amount but they don't have more. So they have to CUT something out of their living expenses. 

Is that simple enough for you to understand? Hello! Is anybody home??? You are a puppet just repeating phony gov. statistics to confuse people that don't understand the scam.

Mon, 01/23/2012 - 08:56 | 2088203 Waterfallsparkles
Waterfallsparkles's picture

Maybe the Government should have cut down on Welfare.  Then the Middle Class would be Taxed less and have more Money to spend into the Economy.

Plus, if more People that are now on Welfare got Jobs it would help put more Tax Revenue in the Government coffers.  It would stimulate more spending by more people.  All of which again would lower Taxes on the Middle Class and in itself stimulate the Economy.

Mon, 01/23/2012 - 00:22 | 2087625 bob_dabolina
bob_dabolina's picture

If so many people weren't reliant on welfare we could cut taxes for employers who would in turn hire more people. 

If people are going to collect all this welfare they should have to volunteer a certain number of hours per week and submit to drug testing at random.

Mon, 01/23/2012 - 00:26 | 2087635 Dr Paul Krugman
Dr Paul Krugman's picture

Taxes should be cut and money should be saved during times of prosperity.  Now is a time of spending and stimulating.

Mon, 01/23/2012 - 00:33 | 2087650 bob_dabolina
bob_dabolina's picture

We didn't do the former and have no money for the later. We can pay through inflation but last I checked that crushes the middle class. The only other time in recent history we had debt to gdp over 100% was after WW2 where all other industrial nations were essentially bombed out, we could rebuild the world from here. We don't have that luxury this time around.

Mon, 01/23/2012 - 00:37 | 2087665 Dr Paul Krugman
Dr Paul Krugman's picture

Inflation expectations are low.

Mon, 01/23/2012 - 00:42 | 2087673 bob_dabolina
bob_dabolina's picture

Oil @ or near 100 isn't good for anyone. The price of copper is going up as is cattle, cattle actually in a record rally right now, cows must be buying cows.

You can say inflation expectations are low but anyone filling up their gas tank or buying groceries can tell you it's not low.

Grease also in a bull market:

http://www.ctpost.com/policereports/article/Men-charged-with-siphoning-fry-grease-2648631.php

(when was the last economic down turn where you saw people stealing grease?)

Mon, 01/23/2012 - 00:49 | 2087710 Dr Paul Krugman
Dr Paul Krugman's picture

The oil price has been made to be a political source of trouble from emerging countries.  OPEC is raising the price due to Iranian saber rattling.  Venuezuela also.  This will end with a whimper or with force.  Neither is good for those countries.

The U.S. is producing more and more oil and our energy independence will soon be priced in  The U.S. has the upper hand and once the price comes down the burden of gas will no longer be on the consumer. 

The oil price is and always has been transitory.

Mon, 01/23/2012 - 00:54 | 2087730 bob_dabolina
bob_dabolina's picture

If we've been producing more oil and becoming less reliant from the mid-east than the price of oil/gas should be falling not rising. And Saudi Arabia has already stated they would off-set any disturbance in oil flow by the Iranians. 

What about copper? Cattle? Anything purchased at the grocery store...all prices going up.

Mon, 01/23/2012 - 01:03 | 2087753 Dr Paul Krugman
Dr Paul Krugman's picture

The Saudi statement increased tensions, but they will subside.  Saudi Arabia will produce more oil and that will ease price.

The oil in the U.S. has only recently been a boom.  The price will adjust because it is transitory.

The rise in the price of oil has increased food costs, so once oil goes down so will food.

Mon, 01/23/2012 - 01:03 | 2087759 bob_dabolina
bob_dabolina's picture

So what you're saying is you're arguing with the validity of this chart:

http://the-compass.org/2012/01/20/lots-of-inflation-jobs-not-so-much/

Mon, 01/23/2012 - 01:14 | 2087776 Dr Paul Krugman
Dr Paul Krugman's picture
Inflation is subsiding, plain and simple.  That is why we have room to use monetary tools. Subsiding Inflation:

http://krugman.blogs.nytimes.com/2011/11/17/subsiding-inflation/

Mon, 01/23/2012 - 01:18 | 2087790 bob_dabolina
bob_dabolina's picture

The other chart goes back to 1938 and the distinction is quite clear. There has been inflation and not entirely due to the increase in oil. It's an increase in the money supply. That is why our middle class is disappearing. 

I don't know if you're the real Krugman or just a troll but the the evidence is pretty clear but somehow you say it's transitory despite the fact I pull up a 74 year chart for you.

At least you didn't pull the hedonic regression card.

Mon, 01/23/2012 - 01:25 | 2087803 Dr Paul Krugman
Dr Paul Krugman's picture

The middle class emerged because of the positive growth due to the monetary policy that has been implemented!  The middle class has this policy to thank or its emergence.

Mon, 01/23/2012 - 01:39 | 2087836 bob_dabolina
bob_dabolina's picture

The middle class is shrinking!! Median home price in Detroit is $6,000. 

To state that monetary policy is to thank for any middle class is crossing the rubicon into insanity. Our gilded age occured during a time of no central banking where real wages increased while GDP doubled. The U.S grew at it's fastest rate in history! Your type of thinking flummoxes me.

Mon, 01/23/2012 - 01:19 | 2087792 chump666
chump666's picture

You been to NYC lately? 

 

Mon, 01/23/2012 - 01:24 | 2087802 Dr Paul Krugman
Dr Paul Krugman's picture

Um, yes.  What's your point?

Mon, 01/23/2012 - 01:42 | 2087827 chump666
chump666's picture

Rents, bills, insurance premiums, food, damn everything...especially rents.  You talk to anybody and they will say we got price spikes across the board.  They may not use the term inflation, but they are hurting.  And OWS 2 will come out in force end winter/spring and it 100% be on the costs of living.  Might be real nasty ala Arab Spring style.

Anyway i think its cool you are on here...love to see Schiller throw his points in on ZH, he thinks like a trader.  Made his trade on Copper (short) and it was a good bet.  When China bulls flipped after the July/Aug meltdown after Copper/metals prices tanked.

haha cept for oil, short metals, long oil.

Wow...market chaos Krugman. 

Mon, 01/23/2012 - 02:30 | 2087914 yogibear
yogibear's picture

Look at what China, Russia, Iran, India and Venezuela are doing. Eventually momentum away from the dollar as the reserve currency will gain strength. This is especially true as Bernanke and the Fed attempt to  debase the US dollar futher.

Look at the chart of Debt vs GDP and you can clearly see that further debt is having less and less impact in stimulating the economy. 

A great deal of the stimulation has been sent overseas, in recent years, where we have witnessed the growth and inflation.

The last round of stimulus almost doubled the deficit and had little lasting effect other than making only a very few wealthy while impoverishing many. A sugar high with a higher deficit. 

We already had the 30 year baby boomer growth.  All with higher levels of manufacturing and technology. That for the most part has been shipped overseas. Just so many are stuck with debt and no time left.

Baby-boomers are retiring in masses now, good luck on using your tools. Pump up the stock market with all the printed money, it does nothing to solve the problems.

 

 

 

 

Mon, 01/23/2012 - 10:50 | 2088497 moroots
moroots's picture

This is a flat-out lie.  If the government measured the CPI the same way as it did back in the 1980's, they'd be reporting 6%+ inflation.  http://www.shadowstats.com/

Of course the government CAN'T report honest inflation stats because Social Security (and probably other benefits) are tied to the CPI, so instead they massage the stats and change the methodology to avoid having to actually compensate retirees for the inflation caused by our insane monetary policy.

 

Mon, 01/23/2012 - 01:24 | 2087801 chump666
chump666's picture

c'mon man seen the oil price??? Even with China covertly printing money, meaning they are slowing down.  And oil is still bid?  We got a nasty pan-Asian stagflation building.  Iran goes hot and the FED and the insane ECB print...It's going be your worst nightmare.  Plain as day.

Mind you equities may, I say may, not go bid on stagflation/war/high oil price and money printing.  Eveyone is too bullish on the inflation stock trade.  Might be dispointed.

Mon, 01/23/2012 - 01:27 | 2087808 satan2liberals
satan2liberals's picture

Worldwide recession will bring down demand for oil and hence it's price , not production.

Mon, 01/23/2012 - 01:28 | 2087815 Dr Paul Krugman
Dr Paul Krugman's picture

Well, yes, but the concern should first be staying out of a recession.

Mon, 01/23/2012 - 01:45 | 2087847 NewThor
NewThor's picture

Bernanke Geithner Merkel Sarkozy and Draghi run the global economy.

5 bankers for 1 world.

The first concern should be freeing a globe of slaves.

Every baby born owes the world $100,000 with an Average hourly wage of $2.00.

This system is a failure.

It's time for a brand new system.

Mon, 01/23/2012 - 02:00 | 2087870 satan2liberals
satan2liberals's picture

Well of course if by that you mean real wealth creation.

 

Sadly I'm sure that's not what you have in mind. 

 

No way to avoid the inevitable and continued manipulations will only make things worse.

 

 

Mon, 01/23/2012 - 02:22 | 2087906 NewThor
NewThor's picture

Which is easier to define 'real wealth creation' or 'Love'?

Could you  do me a favor and define both of them for me?

Mon, 01/23/2012 - 09:11 | 2088235 Waterfallsparkles
Waterfallsparkles's picture

Only Economists think we are not in a Recession or down right Depression.

Mon, 01/23/2012 - 10:52 | 2088504 moroots
moroots's picture

You must not leave Manhattan very much Dr. K.  For most Americans, we are in a recession, desipte what your GDP numbers say.

Mon, 01/23/2012 - 01:28 | 2087812 lincolnsteffens
lincolnsteffens's picture

Oh yes and what is the poorest half of the world supposed to do while waiting for the prices to come down? Oh, I forgot. That half is expendable so tough shit if they can't wait. Even if prices came down our glorious legislators would come up with another hairbrained scheme like a big chunk of corn production going to subsidized ethenol. That sure was a great way of keeping the cost of food and fuel down, yeah.

Mon, 01/23/2012 - 01:32 | 2087821 Dr Paul Krugman
Dr Paul Krugman's picture

The U.S. drives the global economy.  If the U.S. beats the recession, then the world does. 

Mon, 01/23/2012 - 01:47 | 2087853 NewThor
NewThor's picture

You consider the government running up a $20 trillion dollar debt

while the Federal Reserve buys up that same debt "Beating a recession"?

If the average salary of the WORKING American is $26,000 - how many years will it take for us to pay off that debt?

AND. When would you guess we might get out of deficit spending?

 

Mon, 01/23/2012 - 11:27 | 2088631 RockyRacoon
RockyRacoon's picture

Hey, mister 12 weeks, 2 days....

We've had others like you on ZH.   Either find the /sarc button on your keyboard or gird up for some abuse.

There is truth, and there is propaganda.   There is denial, and there is awakening.   Figger it out.

Mon, 01/23/2012 - 01:38 | 2087837 satan2liberals
satan2liberals's picture

What the hell is this stupid notion of energy independence. It's simply worldwide supply /demand for oil that determines price.

The geographic location of where it's drilled from is relatively meaningless for the same grade of oil.

 

 

 

 

Mon, 01/23/2012 - 02:23 | 2087875 NewThor
NewThor's picture

150 years is a long time for oil to power a Modern world.

Seems like Republicans, Democrats and Oil companies have  been laying naked in bed for a long time trying to come up with a 'new' technology that is 'better for the people.'

Weird.

Is there any other technology that hasn't advanced in 150 years?

 

Mon, 01/23/2012 - 08:47 | 2088172 Chuck Walla
Chuck Walla's picture

The oil price has been made to be a political source of trouble from emerging countries. OPEC is raising the price due to Iranian saber rattling. Venezuela also. This will end with a whimper or with force. Neither is good for those countries.

 

Thank God, that the genius that is Braack Obama has decided it is better to get oil from far away enemies than close-by friends.  i.e. Keystone.

Mon, 01/23/2012 - 11:25 | 2088623 krispkritter
krispkritter's picture

Speaking of Keystone, who was on here the other day whining about how dangerous it is and took offense when someone told them there were pipelines all over America and labeled them nuts?  http://www.rextagstrategies.com/products/92_US-Pipelines-Wall-Maps/U-S-Liquids-Pipeline-Wall-Map.html & http://www.aopl.org/

Mon, 01/23/2012 - 01:46 | 2087850 syzygy_g
syzygy_g's picture

Thanks, 'doctor'. You really know everything!

Wake up and smell the roses, buddy.

Mon, 01/23/2012 - 02:32 | 2087918 MsCreant
MsCreant's picture

Been smoking too long, bad sense of smell. That is not unique to the good doctor.

Mon, 01/23/2012 - 09:08 | 2088226 Waterfallsparkles
Waterfallsparkles's picture

Try telling that to the People in the REAL WORLD.  You know the ones that have to buy Heating Oil or Food.

I just bought 150 gallons of Heating Oil, which will last just maybe 2 months for $545.  Just Coffee alone.  I paid $4.99 on sale 2 years ago.  Now $8.99 on sale.  A bunch of Broccoli will cost you about $2. a pound.  The same you could buy a steak for 2 years ago.  And steaks, well, most of us cannot afford to even buy a steak these days at $9.99 per pound.

Not to even mention Home Repairs.  It costs $150. just to get a technician to you house, not including parts or labor.  Or Property Taxes.  I have a Rental property that is not protected by the Homestead Credit and the Taxes went up 150% over a 3 year period.

So, you can say expectations are low but in the REAL WORLD the are nothing even close to low.

Mon, 01/23/2012 - 00:41 | 2087669 brettd
brettd's picture

Absolutely!

We all saw how that 600 billion created 12 million new jobs, each at 50,000 a year! (600 billion divided by 50K, delivers 12 MILLION jobs!)

Clearly, it's the success that is going to propel Barack & Timothy to a landslide second term.

But this time, with this success so evident and established, let's double or treble the spending, and we'll be employing every American as well as mexicans and canadians to boot!

When do we start?

Mon, 01/23/2012 - 01:13 | 2087783 lincolnsteffens
lincolnsteffens's picture

Shoulda, coulda, woulda..........It is a first rate should. It is just that few saved and nearly everyone borrowed during prosperity because government, media, banks and schools encouraged it. Now nearly everyone including the government needs to spend savings. Well there ain't none, buddy. It was spent long ago.

Commodities Futures Exchanges and Stock Markets should be, could be, would be regulated if the ones charged with law enforcement  actually did what they are supposed to do and well paid to do such as stop crime and prosecute  criminals.

Sorry but it is the end of the "Roaring Twenties" and we are still in the early stages of the great depression.  Too many people in high places absconded with cash only to leave us with debt that can only be paid off in the future by bringing down everyone's net worth through massive inflation.  There is no ability to pay off debt except with worthless paper.

You are spewing theoretical good government and social behavior. The problem is absent a sense of personal responsibility we have criminal behavior with no consequences now. This is particularly true in your world. A world with cocktail parties and political schmoozing events with your buddies. The folks I see all the time have nothing in common with your crowd.

Give up and Troll someplace else where people only have classic theoretical models and no FUCKING PRACTICAL EXPERIENCE."

To your friends in higher places I address them with the words of Washington. "You affect, Sir, to despise all rank not derived from the same source with you own. I cannot conceive any more (people) honorable than that which flows from uncorrupted choice of a brave and free people..."

Why am I wasting my time with an unproductive Doctoral Degree common sense retard? You getting paid overtime to win us over? Good luck!!

 

 

Mon, 01/23/2012 - 01:14 | 2087784 dolph9
dolph9's picture

Whoever you are, you aren't fooling anybody here.

We've got the metals and the bullets.  If you ever show up at our doors peddling debt, guess which one you'll get?

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