Originally published 10.17.2008
The
New York Times—aka the Walter Duranty Papers [1] has an extensive and convoluted history of
apologizing for Communism, propping up losers,
dictators and despots in their opinion columns and scrounging for new ways to
reinvent Marxism.
The Times has relentlessly praised a swarm of disgusting parasites who parade
as ‘leaders’ in the world and issues ‘prizes’ in many fields for practicing far
leftist politics. Recently, Paul Krugman
was disgraced, internationally, and explicitly punished for his academic miscues
with the Mantle
of Stooge Award [2]as
defined by the Swedish Academy
A Brief
History of Nobelisms
The
Mantle of
Stooge Award [Cape de Prix de
Larbin] is issued according for strict monolithic adherence
to leftist dogma and not according to truth, achievement or insight. Ideology
to a fault is a proper reason to splash the recipients with this phony glory in
the eyes of the far left. He bonds to this august group:
2008: Paul Krugman [advanced
backward thinking theorems in non-economics and leftist apologia]
So, let us
hear how the Nobel Laureate will lead us out of Capitalist Captivity into the
Promised Land of Socialism in this episode:
“The Dow is surging! No, it’s plunging! No, it’s surging!
No, it’s …”[8]--
Let’s Get Fiscal by Paul Krugman Op-Ed Columnist Published: October 16, 2008
That was deep.
“It’s now clear that rescuing the banks is just the beginning: the nonfinancial economy is also in
desperate need of help.” [Emphasis is mine in all quotes.]This link references all
quotes in this essay unless otherwise stated.
This wasn’t clear before?
“It’s politically fashionable to rant against government
spending and demand fiscal responsibility. But right now, increased
government spending is just what the
doctor ordered, and concerns about the budget deficit should be put on hold.”
This
is blunt. Usually there is some kind of
kinky foreplay before the main propagandistic therapy is unveiled in the
shining light and administered to the inflicted. We wonder if there is any more
written here that is worth reading. Are we going to hear about more tax and spending?
“Before
I get there, let’s talk about the economic situation.”
Ah,
there is a lecture and more goodies in the basket for us. Krugman launches off from his weakest intellectual perch:
rational economics:
“Just this week, we learned that retail sales have fallen off a cliff,
and so has industrial production. Unemployment claims are at steep-recession levels, and the Philadelphia
Isn’t this called a recession? We
remain stunned and transfixed upon the astonishing depth and insight of this
Prize-Popper. How long did he search his
own Econ 101 text for this pearl?
“yadda
yadda yadda…the housing bubble has burst… yadda yadda
yadda.”
Where
is the meat?
“In
other words, there’s not much Ben Bernanke can do for the economy. He can and
should cut
interest rates even more — but nobody expects this to do more
than provide a slight economic boost.”
He can wildly print more money and
‘solve’ this problem with inflation. Monetarism worked until the CRA [the phony Community Communist Reinvestment Act][9][10] created mountains of debt by
giving away free houses to the low class for their votes. That is how this mess started.
That interest rate trick didn’t help
Japan California
The
Meat! Where is the Meat?
“On the other hand,
there’s a lot the federal government can do for the economy…provide extended benefits
to the unemployed… provide emergency aid to state and local governments…buy up mortgages
…restructure
the terms to help families stay in their homes…engage in some serious
infrastructure spending…”Maybe it is just my stubborn anti-Marxist bias, but isn’t this merely the tattered stale and hackneyed scroll of socialist agenda items that the “federal government can do for the economy” any old time? Buy up mortgages and do what with them? Offer new mortgages to newer deadbeats who cannot pay their monthly bills like the previous owner? This is like curing drug addiction in a large group with a paternalistic lecture on health and then offering a fresh bag of crack to the audience.
“Will the next administration do what’s needed to deal with the economic slump? Not if Mr. McCain pulls off an upset. What we need right now is more government spending — but when Mr. McCain was asked in one of the debates how he would deal with the economic crisis, he answered: “Well, the first thing we have to do is get spending under control.”
If Barack Obama becomes president, he won’t have
the same knee-jerk opposition to spending.”
We can be certain of that. Once in a long
while he gets something right.
Fiscalsim[12],
just another errant ism wandering in
the swamp of uncertainty, is an ill-defined mantra that means something like
the opposite of monetarism. It is always
safe to sail in unknown waters because any adventure encountered there cannot
be either comprehend by lubbers or contradicted by true sailors. When academics
mumble and wander about like drunken sailors in histrionics and uncultivated
flights of the imagination their students began to believe that they are
profound. Better to be awestruck than face reality in these economic times.
There may be no jobs for economic majors if this gets any worse anyway.
As our freshly-minted Prizer
is caught retreating to the usual leftist sanctuary, we find that,
unsurprisingly in this election atmosphere, the word <<>> seems to have been misplaced from this little
piece of sore-soothing
propaganda.
It appears that we can spend
but not tax
as our Afro-Leninist[13]
has promised (within certain boundaries). We learn that only those who earn above
$250,000 [The Rich] will see a tax increase and this was confirmed by Obama’s
squirrelly familiar, [14]
known affectionately as ‘Plugs’[15] [Mes cheveux
sont transplantés de ma région pubienne!]of
plagiarism fame, clarifies the tax issue for us:
“"Read my lips," Biden
said, using Bush's famous phrase while referring to a Barack Obama
administration. "Nobody, nobody making less than $250,000 is going to see
a penny of their taxes go up."[16]—Biden in a wild rant at some county
fairgrounds near the campus of Ohio
University Athens Oct 15, 2008 .
We be soak the rich.
rycK
Comments:
ryckki@gmail.com
[1] In honor of that celebrated Communist
stooge and liar and winner of the Pulitzer Prize for the NYT . The color RED is used in my essays in honor of Walter Duranty,
a saint, if there could be one, in the Marxist Archives of Honor.
[2] Krugman
Receives the Ultimate Insult: The Swede's Bozo Prize for Leftist Stooges.
[4] “Some economists questioned
whether Krugman's politics may have somehow swayed the Swedish Academy. Its selections in the past
have been viewed as politically motivated, and Krugman's selection came just
weeks before a U.S. presidential election in which Bush's legacy is playing no
small role.” http://www.washingtonpost.com/wp-dyn/content/article/2008/10/13/AR2008101300369.html?hpid=sec-business
[6] “[her lies]..was actually written by a French leftist, Elisabeth
Burgos-Debray, wife of Marxist Regis Debray, who provided the focostrategy for Che Guevara's failed effort to foment a guerrilla war in Bolivia in the
1960s. Debray's misguided theory got Guevara and an undetermined number of
Bolivian peasants killed, and as we shall see is at the root of the tragedies
that overwhelmed Menchú and her family.” http://www.salon.com/col/horo/1999/01/nc_11horo2.html
[8] Let’s Get Fiscal by
Paul Krugman Op-Ed Columnist Published: October 16, 2008 http://www.nytimes.com/2008/10/17/opinion/17krugman.html?hp
[9] “Bear Stearns made the first public securitization of Community
Reinvestment Act (CRA ) loans started in 1997.[6] Editorialists in some American
newspapers[7][8] and US Congressman Ron Paul[9] say the CRA
loans were lent to otherwise un-credit-worthy consumers in the name of ending
discrimination, although an analysis of actual lending patterns does not
generally support this conclusion.[10][11][12]
On June 22, 2007,
Bear Stearns pledged a collateralized loan of up to $3.2 billion to "bail
out" one of its funds, the Bear Stearns High-Grade Structured Credit Fund,
while negotiating with other banks to loan money against collateral to another
fund, the Bear Stearns High-Grade Structured Credit Enhanced Leveraged Fund.[13] The funds were invested in thinly
traded collateralized
debt obligations (CDOs)
found to be worth less than their mark-to-market value. Merrill Lynch seized $850 million worth of the
underlying collateral but only was able to auction $100 million of them. The
incident sparked concern of contagion as Bear Stearns might be forced to
liquidate its CDOs, prompting a mark-down of similar assets in other
portfolios.[14][15] Richard
A. Marin, a senior executive at Bear Stearns Asset Management
responsible for the two hedge funds, was replaced on June 29 by Jeffrey
B. Lane, a former Vice Chairman of rival investment bank, Lehman Brothers.[16]
During
the week of July 16, 2007,
Bear Stearns disclosed that the two subprime hedge funds had lost nearly all of
their value amid a rapid decline in the market for subprime mortgages.
[11] California
[12] Fiscalism is a term sometimes used to
refer the economic theory that the government should rely on fiscal policy as
the main instrument of macroeconomic policy. Fiscalism in this sense is
contrasted with monetarism, which is associated with reliance on monetary
policy. http://en.wikipedia.org/wiki/Fiscalism
[13] O’Bozo, the
Afro-Leninist Parasite Flip Flops on Offshore Drilling. http://rycksrationalizations.blogtownhall.com/2008/08/02/o’bozo,_the_afro-leninist_parasite_flip_flops_on_offshore_drilling.thtml
[14] “So what is Witch's Familiar all about?
Mr. Raven Grimassi wrote the following for our website to answer that question.
Enjoy. "The Witch's Familiar focuses on the definition of a Familiar, its
historical background, how to obtain a Familiar, what Familiar spirits can
accomplish to aid the Witch, how to work with a Familiar, and how to release
one when the time comes to part company.” http://www.ravensloft.biz/items/what~8242-s-new/list.htm?1=1#8242;s_New
[15] Heard one night on the Mark Levine show.
This refers to the phony forest of spindly white hair[s] that glow[s] in wispy
cylinders in the moonlight and was transplanted from elsewhere on Blowhard
Joe’s body to the top of his head. He looks like a porcupine who had an unfortunate encounter with a
bottle of peroxide and a low hanging bush.
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