Saturday, May 2, 2009

Krugman's Folly.

One of the great Keynesian sophists of our time, perhaps the greatest, is Nobel Laureate, Paul Krugman. At the very least, Mr. Krugman's eminent status-he seems, among other things, to be the New York Times house economist-proves nothing less than the following: One should not be overawed by Nobel prize winners.

In the bizarre calculus of Herr Krugman, savers, as per his latest bloviation in the New York Times, represent a problem. They aren't a problem much less THE problem. The problem that devotees of deficit spending nonsense like Krugman have presently is that they are in absolute denial about the marginal productive capacity of debt, which, as of 2003, approached zero. As a result, deficit spending now amounts to a suicide mission. More debt at this stage simply means a bigger hole to dig oneself out of, but with exactly the same defective shovel one had before in which to do so. All the points Mr. Krugman makes in his latest piece, valid though they may be, are as nothing when stacked up against that single, simple, yet not simplistic, fact.

The immense debt that is presently in the system has all along needed to be cleared from the aforesaid system. Insolvent banks should have been allowed, nay, compelled to fail and be folded into solvent institutions. Anything short of that is doomed to failure and (even though by now it's probably too late) nuanced arguments about the exact nature of government spending and its prospective impact on interest rates can't evade that reality.


http://krugman.blogs.nytimes.com/2009/05/02/liquidity-preference-loanable-funds-and-niall-ferguson-wonkish/

15 comments:

Shiner said...

As much as I hate to say it Krugman is just another part of the jew takeover of the USA. Banks without a majority of jews on the board of directors are just allowed to fail. Jew dominated/owned banks are recieving huge bailouts from the jew dominated US Treasury Department.

The jews were in almost exactly the same position in Germany's Wiemar Republic as they are in the USA today. Jews dominated the banks and media and were vastly over represented in holding political office. The jews were the elite of Weimar Republic.

The only real difference between the the two republics is that Germany's debt to the world was from losing a war and much of ours is from greed (encouraged by the jew dominated TV) although war debt is a big part of our decline also.

The worst rub is that the same jewish mafia that did the Wiemar crimes has struck here in the USA. I would posit that the Germans of the Wiemar era were at least as sophisticated as people in the present USA, maybe more so.

Jews like Krugman are planting the seeds for a Holacaust here in the USA. I might sound like some kind of white nationalist but nothing could be further from the truth. I am terrified of the thought of what is probably coming.

Jews have been kicked out of countries repeatedly for exactly the behavior that is going on in the USA now. Unfortunatly most jews defend the bankers because they know it benefits them. This is why the jews have a word for what happens to them after their bankers loot a country, Pogram.

If I were a jew in the USA I would be shouting out that jews should not be allowed near the nations money creation system. Nothing good ever comes of it.

If you think it can't happen here I will reiterate. The jews were the elite of the Wiemar republic. They went from the elite to being Pogrommed in less than half a generation.

Claiming the USA would never ever do such a thing is foolish. Just go watch videos of Sarah Palin's crowd. Things are getting real ugly here in the USA and Americans are not stupid. We are sated, or we have been, that is over now.

American jews better pray they can keep this ponzi scheme going.

Facts suck.

Edwardo said...

I'd like to make clear that the views expressed by readers of this blog do not represent my own. However, as I am an absolutist on free speech, I don't censor.

Furthermore, I hope it is clear to readers of this blog that my attitude towards Paul Krugman has absolutely nothing to do with his jewishness.

Edwardo said...

I would like to add that in my view Shiner's post is factually incorrect and Anti-Semitic.

Thai said...

Edwardo, came over to cool off from Hell's.

And I/everyone knows you're not (this Shiner character is gross).

The only thing I think you might add to be fair to Krugman is that he ALSO does not want society to spend its money the way it currently spends it.

I am quite sure that were Krugman Czar, he would continue our debt at its current levels but spend our money very very differently than it is currently being spent and I think this difference is critical if you are going to be fair.

Anyway, I hope you are well.

Edwardo said...

Hi Thai,

As always, it's nice to hear from you.

You are absolutely right that Krugman would be spending money differently. Equally, I am aware of the dim view he has towards the government's saddling taxpayers with the bail out of big banks.
Krugman's views in such matters are certainly an improvement over some other's, but the point I am trying to make is that there is no spending that we can commit to, at least spending that involves taking on yet more debt, that can be justified now as we have reached the zero point with respect to a vital metric that Keyensians like Krugman conveniently refuse to acknowledge. That metric is, to repeat, the marginal productive capacity of debt.

We've hit the wall, and there really is no room to maneuver for Krugman and other Keynesians who, however admirably discriminating they seem in their prescriptions for debt driven expenditures, are simply on the wrong side of an implacable mathematical reality.

Thai said...

I couldn't agree more. In fact, this has also been my point re: wealth confiscation.

In the end it is still too much consumption that got us into this mess and we cannot solve an over consumption issue with more consumption.

The game is up, it needs to collapse.

Shiner said...

Simply claiming my statement is factually incorrect does not mean it is. I would love to be proven wrong but I am a political athiest and I call it like I see it. What facts are wrong?

Calling me gross for telling the truth is gross. The jewish mafia has made it so somehow telling the truth is evil. The reply's here prove my point. American jews are doomed unless they start clamoring for jew bankers to taken out of power. History shares my view.

Sorry but once again facts suck.

BTW, I will not be participating in whatever the right wingers come up with to rectify this problem.

Edwardo said...

Given that you made the assertions, Shiner, the burden of proof is on you. Here are the statements you would like the world to accept as fact:

1.)"Banks without a majority of jews on the board of directors are just allowed to fail. Jew dominated/owned banks are recieving huge bailouts from the jew dominated US Treasury Department."


2.)"The jews were in almost exactly the same position in Germany's Wiemar Republic as they are in the USA today."

This requires you to factually show what "position" all Jews were in in Weimar Germany, and what position they are in now in the U.S. Then as now, Jews were not a monolithic block, contrary to what you imply in your above statement.

3) "Jews dominated the banks and media and were vastly over represented in holding political office. The jews were the elite of Weimar Republic."

And as part of the burden of proving assertion #3, you must demonstrate that the term "over represented" is not merely based on what you (or some other like minded person) feel subjectively, but is in fact, statistically verifiable.

Furthermore, given the libelous insinuation in your assertion, the burden of proof is on you to demonstrate that if there is statistical evidence showing a higher representation of Jews in Weimar politics and media, that these numbers were somehow unwarranted or unjustified.

4.)"Germany's debt to the world was from losing a war and much of ours is from greed (encouraged by the jew dominated TV)"

A.) Clarify "much" such that you attach a percentage number to it. B.)Define debt, both public and private, and then, C.) show that the aforesaid various forms of debt, were encouraged by T.V. and finally, that D.) T.V. is "jew dominated."

5.) "The same jewish mafia that did the Weimar crimes has struck here in the USA."

What Jewish mafia, and how, given that the events in Weimar Germany occurred over eighty years ago is that possible?

6.) "Jews have been kicked out of countries repeatedly for exactly the behavior that is going on in the USA now."

Shiner said...

First of all asking for proof on the web is silly. I find it is always better for people to look for themselves. Anything I tell you you are going to be predujiced against. This is common on the web and I believe you know it. Also since jews control the MSM it is hard to find any source that is known by most people that tells the history of the Wiemar Republic. Why is that? That said I will try.

Since the bailouts began over 200 banks have failed. After reading a post on another blog that made the claim only jew banks are getting bailouts I looked at the board of directors of 15 random banks that had been allowed to fail. Reliant Bank, Heritage Bank, Pomona First Federal, to name a few were all allowed to fail and all had no jews on the board. None of the 15 failed banks I looked into had a jew majority on the board. I can assure you the list goes on. Look for yourself at who controlles the big banks getting the bailouts. Hint, ALL are jew dominated.

"In the aftermath of World War I, Jews strongly supported the creation of the liberal Weimar Republic. Indeed, a Jewish socialist, Hugo Preuss who served as minister of the interior in the provisional government established after the collapse of the monarchy, was primarily responsible for drafting the Weimar constitution. Throughout the life of the Weimar regime, Jewish businessmen, journalists, and politicians were among its most active and ardent supporters. Through their commercial and banking activities, Jews contributed to the substantial economic development and reconstruction that took place during the Weimar era. Jewish firms accounted for nearly 80% of the business done by department and chain stores, 40% of Germany’s wholesale textile firms, and 60% of all wholesale and retail clothing businesses. Almost half of all private banks were owned by Jews, as were the largest and most successful of the credit banks. The most important was the DD bank, formed from the merger
between Arthur Salomonsohn’s DiscontoGesellschaft and the Deutsche Bank. The DD bank helped to revive and rebuild Germany’s heavy industry and merchant navy after World War I. The equally important Dresdner Bank was directed by Eugen Gutmann until his death in 1925 and then by Henry Nathan. The Darmstadter and Nationalbank, directed by Jakob Goldschmidt, was largely responsible for obtaining major loans of working capital for German industry from Holland, Sweden, and the United States".
3 off the 5 PM's of the Wiemar Republic were jews.

Jews were less than 1% of the population is Germany. How besides nepotism with the nations money supply can this happen?


Jews make up 17% of the USA's federally elected politicians but are 2.2% of the US population. Money is the key to becoming a federal politician. Jews control the money in this country. The USA has never had a chairman of the Federal Reserve who was not a jew. Almost every treasury secratery in the last 90 odd years has been a jew. Our media corporations are all owned and lead by jews. as are our largest banks. This looks a lot like Wiemar Germany to me.

Nepotism with a nations money supply is akin to theft.

http://www.mediachannel.org/ownership/chart.shtml

That is a link to a media ownership page. I assure you the boards of all those corporations have jewish majorities. there is no way around it. I'm not going to list their names because it would take to long. If anyone really wants to know the truth they can look them up.

Your blog is all about the fleecing so asking for percentages of what is greed and what is war debt is silly and really has nothing to do with anything. As is asking how the same jewish mafia could be behind this. Do you think La Cosa Nostra died when the old gangsters died? These are both straw arguments. Are you saying that the TV does not promote greed? Is the TV not pushing for banker bailouts? do the banks not own the TV corporations? Do you really need an answer to that Q?. Disingenuous is the only way to describe your question about the TV.

Jews have been kicked out of Constantnople, Rome, Persia, Spain, and of course Germany. All for the same reasons. Jews always blame the people who kicked them out. If I was kicked out of party after party I would soon be asking myself WHAT IS WRONG WITH ME. I would not be making excuse after excuse why it was never ever my fault.

I may be guilty of painting with a broad brush but that is all. There is a jewish mafia that has usurped the US government. This is an obvious fact. The reason I am willing to paint with such a broad brush is because I have yet to meet a jew who does not defend the jewish central bankers. Most jews claim that jews work hard and go to college thats why they have so much. I believe jews are racists for making these remarks. If the jews are right then they are just way smarter than all the rest of us. I would posit that the real reason jews have so much of the USA is nepotism with our nations money supply. Look at a list of billionaires in the USA Jews make up 40% of the list and are 2.2% of the US population.

Like the people who disagree with me now, I used to defend jews. After seeing with my own eyes jews behave horribly to some arabs at a protest (I was just driving by) I looked deeper into the Palestinian problem which led to the relevations I have been writing about. I am not a racist. The truth is blatent and impossible to overlook if you are honest with yourself and brave enough to overlook the dogma that has been fed to you your whole life. you will see I do not deny the Holacaust occured. I also refuse to believe that jews did nothing to cause it. A people does not fall from grace that fast that many times through no fault of their own.

Also the jews reasoning is always flawed. Jews claim they were this repressed minority everywhere they were pogrommed but somehow this repressed minority always became part of the elite before their downfall. This does not make any sense at all. Does it? Almost all jewish "explanations" for what happens to them make no sense if looked at critically.

I completly understand why you rushed to defend the jews. It has been programmed into all of us since childhood here in the USA. If you are honest with yourself though you will see i'm right.

Edwardo said...

Shiner, you have utterly failed to offer any compelling evidence for even one of the assertions you originally made. Instead you have restated previous assertions and engaged in enormous evasions.

"First of all asking for proof on the web is silly. I find it is always better for people to look for themselves. Anything I tell you you are going to be predujiced against. This is common on the web and I believe you know it."

I know nothing of the kind, but I do know that you appear to be the sort of person who, when asked to back up their statements with compelling evidence, instead offers weak excuses.

"Also since jews control the MSM it is hard to find any source that is known by most people that tells the history of the Wiemar Republic. Why is that? That said I will try."

How convenient for you that the information you need is unavailable to you courtesy of your favorite scapegoat.

"Since the bailouts began over 200 banks have failed."

That number is off by well over a hundred banks.

http://bankimplode.com/

http://www.fdic.gov/bank/individual/failed/banklist.html

"After reading a post on another blog that made the claim only jew banks are getting bailouts I looked at the board of directors of 15 random banks that had been allowed to fail. Reliant Bank, Heritage Bank, Pomona First Federal, to name a few were all allowed to fail and all had no jews on the board.
None of the 15 failed banks I looked into had a jew majority on the board."

You mean a Jewish majority. This is an idiotic litmus test. In any case you could not possibly know the background of all the board members in question without detailed information of the sort that the vast majority of institutions, banking or otherwise, do not make available.

"I can assure you the list goes on. Look for yourself at who controlles the big banks getting the bailouts. Hint, ALL are jew dominated."

You can assure me? Given your inflation of the number of banks that have failed I am only assured that your grasp of the facts is tenuous at best.

"In the aftermath of World War I, Jews strongly supported the creation of the liberal Weimar Republic. Indeed, a Jewish socialist, Hugo Preuss who served as minister of the interior in the provisional government established after the collapse of the monarchy, was primarily responsible for drafting the Weimar constitution. Throughout the life of the Weimar regime, Jewish businessmen, journalists, and politicians were among its most active and ardent supporters. Through their commercial and banking activities, Jews contributed to the substantial economic development and reconstruction that took place during the Weimar era. Jewish firms accounted for nearly 80% of the business done by department and chain stores, 40% of Germany’s wholesale textile firms, and 60% of all wholesale and retail clothing businesses. Almost half of all private banks were owned by Jews, as were the largest and most successful of the credit banks. The most important was the DD bank, formed from the merger between Arthur Salomonsohn’s DiscontoGesellschaft and the Deutsche Bank. The DD bank helped to revive and rebuild Germany’s heavy industry and merchant navy after World War I. The equally important Dresdner Bank was directed by Eugen Gutmann until his death in 1925 and then by Henry Nathan. The Darmstadter and Nationalbank, directed by Jakob Goldschmidt, was largely responsible for obtaining major loans of working capital for German industry from Holland, Sweden, and the United States". 3 off the 5 PM's of the Wiemar Republic were jews.

Jews were less than 1% of the population is Germany. How besides nepotism with the nations money supply can this happen?


Jews make up 17% of the USA's federally elected politicians but are 2.2% of the US population. Money is the key to becoming a federal politician. Jews control the money in this country. The USA has never had a chairman of the Federal Reserve who was not a jew."

I don't know where to start with the shortcomings in what passes for your argument, but the following seems as good a place as any.

None of the following Federal Reserve Chairman were Jewish, Charles Hamlin, Paul Volcker,
William Harding, Eugene Black, William McChesney or Marriner Eccles. And the list goes on.


"Almost every treasury secratery in the last 90 odd years has been a jew."

This is also unmitigated horseshit.
Very few of the nation's Treasury Secretary's over "the last 90 odd years" have been Jewish.

http://en.wikipedia.org/wiki/United_States_Secretary_of_the_Treasury

Our media corporations are all owned and lead by jews. as are our largest banks. This looks a lot like Wiemar Germany to me.

More like Mars, than Wiemar. Major media are owned by large corporate conglomerates such as GE, which owns
NBC. GE is in turn owned by its shareholders. Westinghouse, another large public company owns CBS.

http://la.indymedia.org/news/2003/04/47530.php

As for this link you provided:

http://www.mediachannel.org/ownership/chart.shtml

The chart at the this link shows a concentration of media, but does not make your case for Jewish ownership of the media.

For example, Viacom is run Sumner Redstone who is not Jewish.

Time Warner is a media conglomerate, that is not dominated by any particular ethic group, Jewish or otherwise.

"Jews have been kicked out of Constantnople, Rome, Persia, Spain, and of course Germany. All for the same reasons."

Repeating this claim without any substantiating evidence won't make it so, but does have the nasty habit of making you appear to lack integrity.

Let me help you, Jews were kicked out of Spain, for example, for their religious beliefs not because they held an excess of power, or controlled the banking system. In fact, Jews who converted were allowed to remain in Spain.

I could go on, but frankly, I don't see any reason why I should except to say that you and your delusional world view, based as it is on false or badly distorted data, and no small measure of hate, are no longer welcome on this blog.

Thai said...

Edwardo, I admire your attempt.

I can be a wind bag, but I do tend to ignore these types of nuts.

re: "In fact, Jews who converted were allowed to remain in Spain."

You are absolutely correct. The evidence for this today is quite clear. Probably a third of all current Spaniards, as well as an enormous % of modern Latin Americans, can trace their family ancestors to Jews who converted.

We really are all cousins... I guess it does kind of bum me out to think Shiner is my/your cousin, but it is what it is.

Regards

Edwardo said...

Thai, your link doesn't seem to be working.

Thai said...

Sorry, not sure what happened.

Hopefully this will work.

If it does not, let me know again or just Google the following "Gene's reveal Spain's forced conversions". You shouldn't have any trouble finding reports on the study as it got a lot of press at the time.

Thai said...

Worked for me.

By the way, it was 20% Jewish and 11% Moorish, so 1/3 of current Iberian residents (e.g. Spain and Portugal) descend from converts.

Be well

Shiner said...

While I may have been wrong about the FED Chairmen being all Jews most were. It seems after the depression they were put out of control for awhile.

Your claims about what happened in Spain are the Jews side of the story. If you looked a bit deeper you would find claims that money changers gave them a bad name.

I don't give links as evidence because they are always challenged on the web. If you haven't noticed that you are not paying attention.

I work in the corporate world. I know for sure that the board of directors is in charge. They represent the owners. Finding out if a member is a jew is as easy as typing their name with jew after into google. If you had done this you would have found that Sumner Redstone and Paul Volker are both indeed Jews. You would have also found claims that both Hamlin and Black probably were jews too.

The boards of all those media corps are jew dominated. Look for yourself. 17% of our federally elected officials are jews. Again look for yourself.

If you want to deny the truth its no skin off my teeth.

I am not a right winger.
I am a political athiest.
Right wingers will be the one's to deal with this problem.

Watch and see.