Watch Rosenberg And Krugman Debate Larry Summers and Ian Bremmer On Whether The US Is Turning Into Japan

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Mon, 11/14/2011 - 23:01 | 1877993 thesoothsayer
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What recovery?


Mon, 11/14/2011 - 23:20 | 1878041 Tortfeasor
Tortfeasor's picture

Summer's waistline has recovered at least two more sizes since getting out of gubermint.

On another note, recovery requires admitting there's a problem.  Of these four, only Rosie really can admit that.

Tue, 11/15/2011 - 02:00 | 1878353 paarsons
paarsons's picture

He's a fat little bastard.  I'll grant you that.

But I bet he still gets more pussy than us.

Money talks.

Tue, 11/15/2011 - 02:16 | 1878361 LaLiLuLeLo
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he's more likely to be into little fat ginger boys.

This will be hard news for Larry but it wasn't that inconceivable that Americans voted for a black man, disregarding every notion of his misunderstanding of the economy and how it functions just to say: “we needed to get over it.” Passing out blankets in SS Chicago doesn't make you qualified to lead during a depression. on second thought...


Mon, 11/14/2011 - 23:45 | 1878095 SMG
SMG's picture

We won't be turning into Japan.  It will be much worse than that.

Tue, 11/15/2011 - 00:20 | 1878202 FEDbuster
FEDbuster's picture

Japan? We should be so lucky.

Tue, 11/15/2011 - 01:24 | 1878311 sushi
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The central irony of Summer's position, that the problems can

". . . only be resolved with more confidence, more borrowing and lending, and more spending."

Is that this is exactly the position taken by Japan. They built hugely expensive bridges to nowhere, they borrowed and borrowed and have never stopped borrowing and they lent and spent and still they are stuck in the mud.

The only thing Japan has that the USA has not attempted is that Japan has Yakuza. But the US has Congress so the two nations are a draw.

Tue, 11/15/2011 - 01:37 | 1878330 The Big Ching-aso
The Big Ching-aso's picture



On a long enough time-line hyper intelligent fat fucks go on to infinity and we end up with Heaven.

Tue, 11/15/2011 - 05:25 | 1878459 mannfm11
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Summers was voted in a poll put out by Steve Keen as the most destructive economist on earth.  The guy should be put on a hook and used to troll sharks.  The people in the audience should have been given rocks to throw instead of clapping for this bastard.  If his uncle wasn't Paul Samuelson, he would be totally unknown and probably cooking cheese burgers on skid row.  

Sun, 01/01/2012 - 09:29 | 2024495 Postkey
Postkey's picture

"Adam Posen, the most recent recruit to the Bank of England’s Monetary Policy Committee, who is one of the leading scholars on the Japanese economy, said growth in the Japanese economy had repeatedly been stifled by premature tax rises and “withdrawal of public investment and zeroing out of public consumption”. The result has been a 20-year period of stagnation and higher debt levels. “The picture,” Dr Posen said, “is of a market economy showing natural tendencies to recovery being stymied by policy mistakes.”

Japan’s experience has demonstrated conclusively, according to Dr Posen, that fiscal policy has exactly the growth effects described by Keynesian economics."


Tue, 11/15/2011 - 01:29 | 1878323 The Big Ching-aso
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Ya, Japan's real lucky.   Glow in the dark lucky.

Tue, 11/15/2011 - 11:28 | 1879171 xcehn
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Saying the worse it's ever going to get is the near equivalent of Japan's lost era is a ploy to avoid considering the far more realistic scenarios involving collapse.  The US is running on the increasingly exctinct fumes of its reserve currency status.  A few commenters seem to think the criminal governments will be able to print their way into a collapse-free future.  As Putin would say:  Is it really so?

Tue, 11/15/2011 - 01:48 | 1878340 philipat
philipat's picture

Barry Ritholtz recently described Summers as "The biggest asshole in the US", and whilst there are plenty of other very deserving contendors for this honour, he does get my vote.

The difference between the US and Japan is that the Japanese have great social cohesion, work hard and save. Also the Japanese actually produce things and successfully export them. Conversely, the US economy is based on instant (Credit driven) gratification and conspicuous consumption. I fear that unless major structural reforms take place in the US (And there aren't any signs that they will), unemployment will remain high, aggregate demand will decline and the consumer-driven economic model will not be sustainable. So I share the view that coming out like Japan is a very optimistic scenario.

Tue, 11/15/2011 - 08:25 | 1878587 jcaz
jcaz's picture

Yep- I don't mind a few assholes- Central Planning is full of them- but Summers is a particularily obtuse piece, who consistantly fails to consider any view other than his own opaque, psuedo-intellectual Ivory Tower Socialist bullshit; 

No one wants to work with him not because he is "abrasive", but because he's a fucking idiot who somehow manages to inject himself into the conversation over and over again......

Tue, 11/15/2011 - 01:04 | 1878278 The Big Ching-aso
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Shit, not another confab of douchebags and fat fucks.    Just what we need right now to solve the crisis.

Mon, 11/14/2011 - 23:02 | 1877998 Banksters
Banksters's picture

Larry the hut Summers proves that in politics and finance, people fail upwards.   

I have spoken, 

BITCHEZZZZZZZ! - a term of endearment, bitchezzzZZZZZZZ!

Mon, 11/14/2011 - 23:10 | 1878012 Unprepared
Unprepared's picture

Why would I do that?

Mon, 11/14/2011 - 23:10 | 1878015 Let them eat iPads
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Krugman should immediately be sacrificed to the aliens in order to appease them.

Doesn't matter if they haven't arrived yet, it's best to get a head start on these things.

Tue, 11/15/2011 - 00:15 | 1878192 Yancey Ward
Yancey Ward's picture

I am preparing my new book:  40 Ways to Serve Krugman.

Tue, 11/15/2011 - 01:40 | 1878334 The Big Ching-aso
The Big Ching-aso's picture



Speaking of meals, at the break did they serve Larry his usual dozen donuts?

Mon, 11/14/2011 - 23:10 | 1878016 Eireann go Brach
Eireann go Brach's picture

Humpty Dumpty Summers sat on the wall, his ass was so fucking fat he collapsed the house and all, does he deserve to be hanged by one ball, yes he does in front of a public mall!

Mon, 11/14/2011 - 23:14 | 1878030 Let them eat iPads
Let them eat iPads's picture

Awesome! Now how about a limerick?

Mon, 11/14/2011 - 23:22 | 1878048 Libertarian777
Libertarian777's picture

there once was an economist named Summer

who went to work for Obummer

they printed and spent

and took liberties and lent

and wondered why the economy's dumber

Mon, 11/14/2011 - 23:52 | 1878123 Let them eat iPads
Let them eat iPads's picture

You guys are good!

Betcha can't do a Haiku on this topic.

Tue, 11/15/2011 - 00:16 | 1878194 buckethead
buckethead's picture

Seasoned economists

Discussing the ways and means

By which we shall starve

Tue, 11/15/2011 - 00:23 | 1878208 Libertarian777
Libertarian777's picture

you got me... i can't do haiku

Tue, 11/15/2011 - 09:11 | 1878703 francis_sawyer
Tue, 11/15/2011 - 00:39 | 1878236 catch edge ghost
catch edge ghost's picture

buy the fucking dip / buy the mother fucking dip / buy the fucking dip

do it then again / again as in never end / a gain begins when

all your tommorows / every last yesterday / set you up the bomb

Tue, 11/15/2011 - 03:07 | 1878391 caerus
caerus's picture

krugman should be hanged

by freedom loving people

from the highest tree


edit: works for summers too

Mon, 11/14/2011 - 23:41 | 1878081 Jim in MN
Jim in MN's picture

There once was an idol called Keynes

Whose worship caused manifold pains

The debt load grew higher

To the chant 'multiplier'

'til Freedom burst forth from her chains


Mon, 11/14/2011 - 23:11 | 1878019 IMA5U
IMA5U's picture

summers is an a55 and can go to hell


nice flavor savor krugman

Mon, 11/14/2011 - 23:17 | 1878031 TheAkashicRecord
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All countries will be neo-feudalistic fiefdoms subservient to the international finance cabal enabled by transnational governmental organizations.  

Global problems require global solutions they will say, adopting any “solutions” after this line of logic will lead to a particular future they have been shaping for quite some time. 

By understanding our largely Pavlovian responses, creating crises, offering solutions to those crises, and claiming "there are no other options," they can create certain futures with startling accuracy.  


Tue, 11/15/2011 - 00:57 | 1878260 JR
JR's picture

Good stuff.

These people have gone beyond debauching the currency as Lenin advocated; they’ve debauched the political system, the justice system, the democratic institutions that we have -- and because of this they have overridden representative government.

Economic justice can only be found in the marketplace where millions of individuals make economic decisions daily in their own best interests. Says John McManus: “The founders of the United States wanted real competition in the banking industry, no irredeemable paper money, no inflation, and no manipulation from on high of interest rates or the value of the currency.

Instead, says McManus, Americans are forced into choosing from false and harmful alternatives.  In a nutshell, he says, here is what students are being taught:

“When the value of the dollar is high relative to other currencies, our domestic economy ‘slows down’ because foreign goods become more attractive and consumers buy overseas.  As a consequence, our nation experiences a trade deficit, and exporters are up in arms. The way to cure this problem is to lower the value of the dollar and expand the money supply by reducing interest rates.

“But when the value of the dollar sinks relative to the currencies of other nations, domestic goods become more attractive and the economy ‘heats up.’  The trade deficit becomes a surplus, and importers are up in arms. The cure for this development is to boost the value of the dollar and contract the amount of currency in circulation by raising interest rates.

“It is obvious that there is a need for great flexibility and enduring wisdom when the value of the dollar is established, interest rates are established, and the amount of currency is set. That is why the best available geniuses are appointed to decision-making posts at the Federal Reserve. And to keep their decisions from being influenced by political considerations, the members of the Fed’s board who make these important determinations are appointed for 14-year terms by the President.

“While the President has the power to choose like-minded individuals for these sensitive posts, their 14-year terms guarantee that each will outlast him. Therefore, Fed leaders, who are encouraged but not required to consult with the President and Congress from time to time, are able to undertake moves that might not be popular with the reigning Administation. Aren’t we fortunate in America to have such a marvelously conceived system managing the nation’s economy?”

In  short, America has been saddled with a Marxian program; it was Marx and Lenin and Stalin and Warburg who advocated a monopolistic bank with all power over money in the hands of the elite few.

Tue, 11/15/2011 - 07:53 | 1878534 Bob
Bob's picture

Students are beginning to agitate against what they're being taught at Harvard:

Tue, 11/15/2011 - 09:54 | 1878811 ffart
ffart's picture

And this is different from what we already have... how?

Mon, 11/14/2011 - 23:19 | 1878038 kito
kito's picture

Turning into japan means less crime, more civilized society, healthier populace, tech savvy citizens, repsect for elders, high real estate prices, strong exports.....hmmm...doesnt sound like the u.s. is turning into japan anytime soon....

Mon, 11/14/2011 - 23:44 | 1878085 Rollerball
Rollerball's picture

Samurai swords into time-shares.  Brilliant! 

Long live the slow death of Kill Dollar Bill/yen hairy-carry!

Go stick your head in a microwave and evolve mutant. 

Mon, 11/14/2011 - 23:54 | 1878128 kito
kito's picture

ha!!!  looking at where america is heading, i dont think im the one with the need to evolve. 

Tue, 11/15/2011 - 00:02 | 1878157 Rollerball
Mon, 11/14/2011 - 23:48 | 1878106 Dave Thomas
Dave Thomas's picture

You forgot panties in vending machines!


Snail tracks bitchez!

Tue, 11/15/2011 - 01:10 | 1878293 LowProfile
LowProfile's picture

And radiation everywhere, and a goobermint that tells you everything is fine with that!

Tue, 11/15/2011 - 01:42 | 1878327 The Big Ching-aso
The Big Ching-aso's picture



And don't forget radioactive everything coupled with cancer rates climbing upwards like Mt. Fuji.     It would make a beautiful Japanese ink on silk canvas rendering.

Mon, 11/14/2011 - 23:22 | 1878047 JW n FL
JW n FL's picture

if this dont move ya.. get out of my country, bitch!

Mon, 11/14/2011 - 23:45 | 1878092 JW n FL
JW n FL's picture

I had to get away from feel good wanna be swept away by the rapture bullshit!

Mon, 11/14/2011 - 23:56 | 1878133 Rollerball
Rollerball's picture

A tip of the hat and toast to Joker Heath Ledger

Mon, 11/14/2011 - 23:26 | 1878058 catch edge ghost
catch edge ghost's picture

Stab yourself in the face until the pain stops.

Mon, 11/14/2011 - 23:31 | 1878065 Jim in MN
Jim in MN's picture

Meanwhile on the actual planet Earth, and in the actual Japan even....

Japan farm radioactive levels probed

New research has found that radioactive material in parts of north-eastern Japan exceeds levels considered safe for farming.

The findings provide the first comprehensive estimates of contamination across Japan following the nuclear accident in 2011.

Food production is likely to be affected, the researchers suggest.

Mon, 11/14/2011 - 23:47 | 1878102 BigInJapan
BigInJapan's picture

Not a chance in Hell that food production will be reduced.
It's becoming rather unfashionable and almost taboo to bring up radioactive food in conversation over here.
COSTCO - the only safe source of food in Japan.

Tue, 11/15/2011 - 00:53 | 1878254 Jim in MN
Jim in MN's picture

I found this rather chilling:

"Radioecologist Nick Beresford from Centre of Ecology and Hydrology in Lancaster explained that once in soil, caesium will become bound to mineral components, which limits its uptake into plants.

However, this process depends on the soil type. "Caesium stays mobile for longer in organic soils, hence why England and Wales still have some post-Chernobyl restrictions in upland areas," he told BBC News."

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