Charlie Rose: A Conversation with Paul Krugman
Submitted by
CalculatedRisk on Fri, 10/24/2008 - 3:37pm (152 comments)
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third!
The dow futures on CNBC.com are down 513?
fourth
Before I commit myself to 36 minutes of this -- anything we haven't heard before?
No knocks against Krugman. He's just been around a lot lately.
Got no faith in economists because we are in a whole new ballgame.
Germany is like China macroeconomically, except that it has loaned out a whole bunch of money in the Eurozone. Its in deep doodoo by its own accounts.
Why should China,which has forex on its balance sheet, not suffer as much or worse? Will not its terms of trade
suffer more?
The dow futures on CNBC.com are down 513?
Given that the Dow is 8,378.95, 513 would put at 7865.95
Clearly that is not current.
What's he hiding behind the beard?
makes me murmur this when seeing some of the housing developments here in CT:
YouTube - Katie Melua - Ghost Town
anecdotal:
I had a worker come in my office and ask for the paperwork to liquidate the 401k he's been paying into for the last 6 years..wanted to fill it out over the weekend.
he tells me, if I dont take it now, its going to zero.
Delivery failures plague Treasury market
Total hit a record $2.29 trillion as of Oct. 1
By Dan Jamieson
October 19, 2008
The credit crisis is causing a growing number of delivery failures with Treasury securities.
The latest data from the Federal Reserve Bank of New York showed that cumulative failures hit a record $2.29 trillion as of Oct. 1. The federal settlement period is T+1 (trade date plus one day).
The outstanding U.S. public debt is $10.3 trillion.
"Current [fail] levels are at historic levels," said Rob Toomey, managing director of the Securities Industry and Financial Markets Association's funding and government and agency securities divisions. "There's been significant flight to quality" with the market turmoil, he said.
What does this mean? What is a failure to delivery?
The Dow futures are done for the weekend. They fell to 8261 after the market closed (see Bloomberg
).
The futures will re-open at 5 P.M. Sunday. Relax. Enjoy the weekend.
Krugman looks like the guy Larry Craig wanted to meet.
Got no faith in economists because we are in a whole new ballgame.
A new whole game indeed. From Prof. Frankel at Harvard, a possible framework for a "new" Bretton Woods and the IMF, most definitely to be discussed at the G20 on 11/15.
Restructuring the International Financial System: A New Bretton Woods? | Jeff Frankels Weblog | Views on the Economy and the World
The Fund would have to turn to newly-wealthy countries like China to help finance such new facilities and programs....
The IMF ... has moved far too slowly to give added representation to the newly important developing countries such as China, Brazil, Korea, India and Mexico...
In a fair world, Europe would also give up its stranglehold on the Managing Directorship (especially after the performance of the last two incumbents); and the same goes for the U.S and the World Bank presidency....
The G-8 has been increasingly handicapped in recent years by virtue of its obsolete membership....
How can they discuss global current account imbalances or the need for exchange rate adjustments without China and Saudi Arabia at the table? It looked like the G-20 would supplant the G-7....
The most probable substantive outcome from talk of the need for a bold new multilateral initiative is that there could be a Basel III to replace the Basel II agreement...
Regulation of certain derivatives, such as Credit Default Swaps...
Looks like the world wants to distance itself from us born and bred dopes, as well as our atlantic counterparts...
From Thursday's 3:15 PM CDT close to Friday's 3:15 CDT close, the December Dow Jones futures (not the Dow Jones cash index) lost 513 points declining from 8774 to 8261. As pointed out above, the market does not reopen after the 3:15 close on Friday until Sunday night at 5 PM.
I asked my five year old if he was ready for football practice tomorrow. He said that he would rather be an economist because they get more chicks these days.
I'm gonna go have me some lobster. May be a while before I'll get one again. Plus they're dirt cheap.
Nostrovia,
All of Krugman's brilliant ideas will be tried by Obama. And once again, Keynesianism will fail miserably just as it did during the Depression.
"New New Deal" will bring back old 25% unemployment.
Isn't he too chunky for Craig?
These threads sure run the entire gamut of human experience.
The futures will re-open at 5 P.M. Sunday. Relax. Enjoy the weekend.
Nemo | Homepage | 10.24.08 - 8:04 pm
How can you enjoy the weekend? I'm waiting for Anonymouse's Big Event.
dp,
"He said that he would rather be an economist because they get more chicks these days."
Damn quant whores.
Nostrovia,
karelian,
"These threads sure run the entire gamut of human experience."
These threads warp space time.
Nostrovia,
Security Guard is probably the 'big man on Wall St. these days".
LOL Krugman and Roubini are so fucking toasted. This is so big, is beyond their imagination. Admit it. Homo Keynes is dead. Let's wait for the AUSTRIANS to pick up the pieces. Uh, and I so hate you for not seeing what the followers of the homosexual and fabian socialist Keynes has done to us.
How can you enjoy the weekend? I'm waiting for Anonymouse's Big Event.
Is PCA's big event apocalyptic or messianic?
--
Another economist? God help America!
America is on God's bad countries list, or "Axis of Evil." Satan has his list that was made public from the mouth of evildoer Bush. Most economists are part of the Satan's army. Krugman definitely is.
Americans, prepare for the punishment for supporting and harboring evildoers and allowing the rule of Satan.
Jas
Basel Too,
"Is PCA's big event apocalyptic or messianic?"
I would suggest, with all due respect to PCA, maniactic.
Nostrovia,
Bond Girl --
How can you enjoy the weekend? I'm waiting for Anonymouse's Big Event.
Are you making fun of Anonymouse? I cannot tell anymore.
Although I am expecting an announcement this weekend.
@Jas,
I've read your shit. Not bad. But you couldn't predict what was about to happen to the country. Where were you , precious?
This guy is just another idiot talking head liberal Nobel Prize winner...look at the hard numbers like non-borrowed reserves of depository institutions:
2006-10-01 42.510
2006-11-01 42.876
2006-12-01 43.147
2007-01-01 42.098
2007-02-01 42.425
2007-03-01 42.235
2007-04-01 42.497
2007-05-01 43.084
2007-06-01 43.187
2007-07-01 41.559
2007-08-01 44.047
2007-09-01 41.101
2007-10-01 42.182
2007-11-01 42.258
2007-12-01 27.244
2008-01-01 -3.510
2008-02-01 -17.353
2008-03-01 -50.232
2008-04-01 -91.847
2008-05-01 -111.648
2008-06-01 -127.905
2008-07-01 -122.316
2008-08-01 -123.492
2008-09-01 -187.312
Now that's fu*king scary. What you say dat Paul?
myself,
"Let's wait for the AUSTRIANS to pick up the pieces."
TPTB ain't gonna let that happen...EVER!
Damn shame that.
Nostrovia,
Now that's fu*king scary. What you say dat Paul?
He screams "MULTIPLIERRRRRR" and continues jerking off to aggregate demand graphs and FDR's fireside chats.
There is an odd sexual undercurrent in this thread... much like there was a weird racial motif in the last one.
I liked the booze/Canuck-bashing dual theme better.
"Ahmadinejad's health is deteriorating"
(Jerusalem Post) The reports come after Ahmadinejad, 52, canceled a series of public appearances, including two speeches and a cabinet meeting ...
Hopefully he will die soon, God willing.
(I suspect that the CIA has a hand in this...it's a wonder what a microgram of plutonium will do for world stability.)
@Misean
I've been waiting for a slowish night to ask you a Rothbard question or two.
Is it a distortion of Rothbard's views to suggest that we don't need a gold standard, but merely
1) 100% reserve requirement on demand deposits (e.g. checking accounts)
and
2) time deposits (e.g. CDs) which cannot be cashed in, but can be sold, prior to maturity, on the basis of which banks can extend credit.
If I've got it right, his quote is "and we 100-percent theorists will be satisfied."
@DK,
The "Nobel Prize" in Economics is not part of Nobel's Last Will. Sorry, precious, you didn't know that! Well, fucking check it out. It is given out by the moronic "Swedish Central Bank". Screw you all losers for being so pitifully ignorant (what else could I expect from you, right precious?). So, a Nobel in Economics to Krugman the Keynesian given out by the Sewdish Central Bank...LOL...LOOOSERS
There is an odd sexual undercurrent in this thread...
It's Friday night; it can't be helped.
But if it is Canada-bashing you are looking for, the permanent #1 award goes to The Onion. Timeless.
karelian,
I like beer eh.
Yahoo! GeoCities: Get a web site with easy-to-use site building tools.
YouTube - Strange Brew - Original Trailer
Nostrovia,
Don't need the vid. I pray to Krugman nightly and he always hears my prayers. Praise Krugman!
wow... I had no idea...
Well we have arrived at the fulcrum of deviant economics have we not?
A Keynesian/Viagra devouring money supply meeting an impotent borrower. As the Paulson fueled lender seeks to mount his credit satiated prey she whimpers "No more, no more' as Paulson quotes Poe and says "for the lost Lehmanore
@kaelian,
Check it out, precious, before you go out.
It's the weird look in K's eyes, replete with sexual tension. Not that I'm gonna listen to a long video.
The Globalization of the Paulson Plan...
The Hindu : Opinion / Leader Page Articles : Time to realign the Indian state
I am making fun of Anonymouse. Good-intentioned, however.
That would be interesting to see.
Nemo:
Technically, G7 currency intervention probably won't work because the G7 doesn't have the forex reserves. Should be G20. That would be messianic, at least relatively and only in the short run, by slowing the unwind of the JPY/CHF carry trades.
Ah. But the unintended consequences will be ginormous (just like how the bank guarantees sparked the currency runs).
In the long run, however, G20 coordinated currency intervention, especially if China is doing most of heavy lifting, would probably mean the end of BW2, which would be highly apocalyptic. The world doesn't need/want the "liquidity" of our current account deficits... Imagine the conversations in Beijing: we paid our workers $0.20 to put all these dollars into reserves, and now we have to bail out these half-assed countries like Hungary?
Never realized how implicitly imperialistic BW2 really is. As Jas would say, the Chinese will beat our asses for this.
Hey, losers, check this link out. Krugman's fucking "Nobel" prize is given out by the..."Swedish Central Bank". LOL Screw you all, for being so bloody...ignorant???
Nobel Memorial Prize in Economic Sciences - Wikipedia, the free encyclopedia
kinda looks like the shark researcher Hooper from jaws.
--
"But you couldn't predict what was about to happen to the country. Where were you , precious?"
Myself,
Where were you? Must be hiding underground and just left your burrow? I was ahead of ANYONE. Period. Roubini is a Johnny come lately.
My forecast were based on the observable facts that Americans are born-and-bred dopes led by Crooks and I came to the negative conclusions about Americas future more than ten years ago. Crooks were artificially boosting the economy by Pushing Debt. Now the jig is up.
Jas
psychodave,
Well, I'm much more of a Hayek, Mises, and Schumpeter type. I like Rothbard, but he was a little to utopian about the economic/social structure he favoured for one as dour as I.
That said, if you linkaged the quote (I think you missed a word in your quote) I would appreciate it.
My readings of Rothbard such as:
http://mises.org/rothbard/money.pdf
suggest that anything other than money chosen by market participants is doomed to fail.
Any fiat system has to become unstable, because of the relentless preasure on political authorities by banksters, MUST cause rules to be lostened, as banksters, due to the incredible incentive, cheat. A real anchor reveals the cheating early. Without it, when the cheating is to be noticed, the banksters lobby for a rule change to hide it and allow it to expand.
Central controllers and regulators are regularly bought off by those they are charged with controlling and regulating.
Nostrovia,
Canada has a military?
The author (Simon Johnson) was, until a few months ago, the chief economist of the IMF. So when he writes on international economic issues, I pay attention.
So, what's a nice Bond Girl like you doing here on a Friday night?
...
Wow, it really has been a long week.
Canada has a military?
Yeah, but they are the kind that ride horses, not the real kind.
You losers should check out a pic of Krugman's wife. She's hot.
The haters here are pathetic. And wrong about economics, just like the current regime.
@Jas,
Inform yourself, sweetie. Read what the "Austrian Theory of the Business Cycle (ATBC)" is all about. The Cantillon Effect, Böhm-Bawerk's temporal structure of capital and Wicksell's natural rate of interest represents when one discusses the ATBC. It appears that you have at least one PhD in how to make diapers. Am I right, precious?
So when he writes on international economic issues, I pay attention.
I agree with him; will probably occur at G20 on 11/15.
I'm just annoyed that he referred to it as G7 intervention, when it clearly requires non-G7 members. Just symptomatic of the recurring pan-atlantic bias that's a huge problem in policy decisions.
I assume someone posted this earlier, but just in case:
YouTube -
Man, even CR is still around tonight. I can sense him working on something...
It's too cold, rainy, and gloomy here to venture out.
Anonymouse suggests the event will be apocalyptic in the short-term, not long-term.
myself,
Erm...Look n00b, Jas is a fan of Austrian economics.
But I'll let him defend himself. But...erm...you're begining to go from looking foolish, to looking like that weird uncle who you only see on Thanksgiving.
Just sayin'.
Nostrovia,
I AM RIGHT AND NO ONE CAN DISPUTE IT! Krugman's "Nobel" is given out by a ..."Swedish Central Bank". LOL. I am paying $100,000 to whomever proves that what I say is...well, wrong!
Krugman lost a lot of my confidence with his babbling about the "Mythical" Scial Security Crisis. Pure liberal stupidity.
"if you linkaged the quote (I think you missed a word in your quote"
Comrade Misean is Dope | Homepage | 10.24.08 - 9:06 pm
I can't reply. I thought mises.org had AMERICA'S GREAT DEPRESSION in ".pdf" format, so I was going to link it and reference p.20 (text page, not Acrobat numbering) but now I can't find the fool ".pdf" file.
Canada has a military?
Bond Girl | 10.24.08 - 9:06 pm
2,500 troops in Afganistan. Yes, they have an army and it is pretty good. They are also heavily involved in UN missions.
myself,
OK all....I know I know I know!
Don't feed the troll. But I can't help it...Low hanging fruit (cake)
"I am paying $100,000 to whomever proves that what I say is...well, wrong!"
Dude you're implying that people here debate whether gravity sucks or spews.
Or for that matter, whether or not you spew.
Nostrovia,
It's too cold, rainy, and gloomy here to venture out.
And here I had you pegged as a West Coast girl...
CR is taking a while on his next post. Probably lots of charts, or maybe some more hiking photos.
I'm disappointed Rose didn't ask him about voting power for the preferred stock.
I grew up in southern California.
I was kidding about Canada's military....
@Comrade MIsean,
Am I wrong???
BW2?? What's that?
psychodave,
"AMERICA'S GREAT DEPRESSION"
I, humbly admit I haven't read it.
I got really caught up with William H. Hutt's "The Failure of the "New Economics": An Analysis of the Keynesian Fallacies" and "Plan for Reconstruction (1943)" and "The Keynesian Episode: A Reassessment (1979)"
William Harold Hutt - Wikipedia, the free encyclopedia
That said I am familiar with it somewhat second hand. I'd have to read it to give a truly proper response. However, I would be suprized if my previous assessment was incorrect.
Nostrovia,
Treasury to Allow Banks to Announce Equity Injections - WSJ.com
Treasury to Allow Banks to Announce Equity Injections
Capital One, SunTrust Expected to Receive Government Funds
The Treasury Department has decided to let banks individually announce that the government will invest in each firm, scrapping an earlier plan to release the names of multiple banks receiving federal money all at once, people familiar with the matter said.
The decision came after concerns that banks left off any group list would appear too weak for government assistance, spooking investors and depositors and potentially making troubled banks' situations more dire.
Treasury officials were expected to announce investments in about 22 different banks Friday at 11 a.m. They shifted gears after PNC Financial Services Group Inc. announced Treasury was investing $7.7 billion in its bank as part of the deal to acquire National City Corp. National City was denied government assistance and was forced into a sale.
One reason for regulators' rush to arrange the National City deal by Friday morning was the planned 11 a.m. announcement. Regulators worried that National City's absence from that list would spark a panic among customers and shareholders. Among the banks that were going to be included on this morning's list were Capital One Financial Corp. and SunTrust Banks Inc., according to people familiar with the matter.
Bond Girl writes:
Canada has a military?
Bond Girl | 10.24.08 - 9:06 pm | #
I am sure the Canadian Army guy is still alive but the Air Force guy crashed about a year ago and they are still looking for a new plane.
BondsOfSteel --
Bretton Woods II
So, it is settled. Krugman's fucking "Nobel" prize is not part of Nobel's Last Will, but a spurious prize set up by the "Swedish Central Bank". If any one of you losers can dispute that, please contact me so that my attorney can pay you $100K.
Did they have to give money to Capital One? I was looking forward to not having to see their commercials on television anymore.
Never, ever ask me what's in my wallet.
myself,
Let me be blunt.
2+2=4.
Am I wrong!?!?!
Who TF cares.
Nostrovia
AFP: AIG already used 75 percent of Fed bailout loan: report
AIG may still fail.
Did the McCain campaign let all of its paid trolls go?
U.S. Mulls Widening Bailout to Insurers - WSJ.com
U.S. Mulls Widening Bailout to Insurers
(At FDIC - employees who convert their 401k) balances (or portions) to an annuity apply with New York Life. I'm about to do that.)
We've lost a lot of people in Afghanistan. Fuck you all.
Did the McCain campaign let all of its paid trolls go?
PeakVT | 10.24.08 - 9:32 pm | #
No! There is one under my McMansion!
"However, I would be suprized if my previous assessment was incorrect."
Comrade Misean is Dope | Homepage | 10.24.08 - 9:26 pm
Well, I confess I found it overwhelmingly convincing. But to avoid total capitulation, I thought your "Central controllers and regulators are regularly bought off" a bit rich.
I'd bet its been cheaper to buy off their political masters than to directly suborn the civil servants. Forgive my boyish faith in the civil service, but when I want evidence the TARP sold our country down the river, the first place I look is to the Fed's own research papers. Like the one Santelli waved at the cameras earlier today on CNBC.
Punching somewhat considerably above our weight as f*&%ing usual I might add.
Anyone got background on PBGC saying they're gonna need more money?
TIA
(I realize we all know the pension's are toast, but, is their any credible work on this on the net?)
Give up on you, losers. The country is going to hell and you revere a bearded loser with a "Nobel Prize" given out by the..."Swedish Central BAnk".. LOL!!! Prove me wrong HOMOS.
FFDIC --
Thanks for the link.
Really, what industry couldn't be made better by nationalizing it? I cannot believe nobody ever tried that before.
New post up.
But if it is Canada-bashing you are looking for, the permanent #1 award goes to The Onion. Timeless.
Nemo | Homepage | 10.24.08
Canada bashing eh, how about US bashing.
Swaggering Down 87% | The Onion - America's Finest News Source
Fom ticker forum...
"I believe the future you see on Bloomberg on a Friday night quote is the last value after lock up (4:15pm). The fact it is at -513 from a close of -312.30 meant the Dow tanked a further 200 points between the close and lock up. This is not a good sign for Monday. I may be wrong."
Very, very sorry to offend about Canada's military. It was meant as a joke and it obviously was not funny.
FFDIC:
Did you see that Basel II may have to be scrapped already? Somehow letting the banks set their own risk assessments didn't turn out as planned...
Hoocodenooe?
FFDIC,
"U.S. Mulls Widening Bailout to Insurers "
Yeah saw that earlier today. 3I'm applying for TARP on Monday. I'm gonna argue that I have a big flail. And that I'm not too big to flail on their pasty white asses.
You know go mid-evil on them.
Nostrovia,
FDIC: FIL-111-2008: Mortgage Servicing Accounts
FDIC Deposit Insurance Coverage
Mortgage Servicing Accounts
Summary: The FDIC Board of Directors has adopted the attached interim rule to simplify the deposit insurance rules for accounts held at FDIC-insured institutions by mortgage servicers. Under the interim rule, the FDIC will be able to make deposit insurance determinations on mortgage servicing accounts as well as pay deposit insurance more quickly. Comments on the interim rule, which took effect on October 10, 2008, are due by December 16, 2008.
Dear Hank,
I hope the preferred shares in Capital One pay a annual 25.99% interest rate, include late fees of $35 on each late payment and a Us Gov't surcharge of 3% on every cash advance. We also should demand the right to arbitrarily change to due date on a interest payment.
Gawd, not another No Bell Lariat nominated by a bunch of Sweedish socialists...
He will be another front man for some B-schoolers new fund 'Short Term Capital Management'.
Never trust a Commie with a beard. Rick Santelli would eat this guys lunch.
More cowbell please.
"The Treasury, which had planned to announce investments in about 20 banks, reversed course and will let firms disclose their own share sales in coming days.."
Paulson Weighs Stakes in Insurers, Regional Lenders (Update4) - Bloomberg.com
Seems that some people here are taking themselves and the trolls too seriously. Nobody here is a celebrity except for CR and Tanta.
@ ALL,
Again, the link. Krugman's "Nobel" is given out by a fucking central bank
Nobel Memorial Prize in Economic Sciences - Wikipedia, the free encyclopedia
Screw you all, losers.
--
""AMERICA'S GREAT DEPRESSION" I, humbly admit I haven't read it."
'Comrade Misean is Dope,
I have read it. Hell, I re-read it just few months ago. His conclusions about the causes of the Great depression are radically different from Chair-moron Burn-ass-ke's. Our system promotes Crooks agents to the top political power and we are reaping the "rewards." How did Hanky Panky got the job just in time? Juts-in-time delivery?!
Jas
Pathetic Display at Yesterday's Financial Hearings -- Seeking Alpha
Pathetic Display at Yesterday's Financial Hearings
reading some of the comments lately I find myself missing ipodius...
A Canadian sniper team set the record for distance to impact a few years ago. Canada for its size is the equivalent of Israel as far as combat capabilty. Just less armor.
Outside the Brits and the US they field the most combat experienced regiments in the world. Afganistan is burning them out.
--
myself,
Hey, dope, there are people far better read than you here. So, stop the nonsense.
Jas
I also would like to know what the term "failure to deliver" as applied to US Treasuries means? Anyone out there who knows?
I should have gotten in the CDS business, writing insurance policies on everything, pocket the premiums and when the shit hits the fan ask for a bailout.
Did you see that Basel II may have to be scrapped already? Somehow letting the banks set their own risk assessments didn't turn out as planned...
Hoocodenooe?
Basel Too | 10.24.08 - 9:37 pm | #
Yeah, FDIC spent about 3 years and 3 million on that one and still bought it hook, line and sinker.
The selection process follows the same principles as for the Nobel Prizes.
Your Questions about The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Which is why everybody calls it the Nobel Prize. It is in all ways as much of an accomplishment, identified and recognized in the same way, as the other Nobel prizes.
"I am sure the Canadian Army guy is still alive but the Air Force guy crashed about a year ago and they are still looking for a new plane."
born and bred dope | 10.24.08 - 9:28 pm
I'd go real easy dis'ing Canadian military. At least read up on Dieppe in 1943, if not D-day in 1944.
Was at Home Depot today and it was dead. Had a few really hot cashiers no shoppers ...
@ALL,
Have to go now. Had lots of fun. Didn't mean to ridicule you all. I could be a..."Head of State", and you'll never know that. Point here is: You have a great country, with great institutions that are in big trouble (not only yours). Again, check out my link on the "Nobel" prize in Economics. That link says things I would never say out loud in public. God bless that beautiful country of yours!
comrade canadien avec popcorn:
Punching above your weight, but apparently in the wrong direction.
You do have troops in Afghanistan, right?
Why?
Not long ago I was in Newfoundland. Fellow there took great pride in supporting Bush's war in Iraq.
Empire, even if it's vicarious, is a tough thing to let go of.
Let it go.
I'm gonna miss myself.
"I also would like to know what the term "failure to deliver" as applied to US Treasuries means? Anyone out there who knows?"
to a good article.
prairiedog | 10.24.08 - 9:41 pm |
Bond Girl answered Nemo's identical query in an earlier thread here and provided this link
We had the third largest allied standing army in WWII, participation rates way above the norm. Or read about our combat in Yugoslavia. We actually had firefights in that UN "peacekeeping exercise" unlike everybody else. In Afghanistan we are charged with patrolling the most dangerous part of the country in the "war against terror" that you guys forgot about.
Like I said, we generally tend to punch above our weight, eh.
--
"You have a great country, with great institutions that are in big trouble (not only yours)."
myself,
That is pure dope-talk. How can you have a great country with great institutions in big trouble? America is a rogue country with evildoers in-charge. What is worse, American evil finance Scams and schemes of Pushing Debt were spread all throughout the world. So, America will take the whole world down with it. That is how powerful Crooks operate.
Jas
America is a rogue country with evildoers in-charge
But, Jas, you still insist on living in it. Aren't you free to leave?
The anti-Canadian stuff here is weird. It's like some running in-joke, but not funny and without a referent. French jokes I can understand, although they're generally pretty off-target for those in the know but why do people pick on Canadians here?
Fair Economist,
"The anti-Canadian stuff here is weird. It's like some running in-joke, but not funny and without a referent. French jokes I can understand,"
Why? The French lost over 300k in WWII during the blitz to Paris. Their military model was flawed. But they were not cowards.
Nostrovia,
comrade canadien avec popcorn
Don't get worked up. Many in this country would piss on our own homecoming troops in a tickertape parade. ROTC and military recruiting is off limits in some cities and colleges.
Let's quit the school yard 'my dad can beat up your dad!'
Canada is a great ally with an excellent military and good institutions. Hell, they even drive on the correct side of the road!
I would put my money in a well run (most) Canadian bank rather than one of our evil big 9........
Why are we in Afghanistan again? Oh ya, looking for that dude that is riding around on his camel. The guy that deployed a dozen men to the US, had then train as pilots. They went on to complete their 9/11 mission. After the mission the US kept interest rates low to spur recovery, thus taking down the entire financial system of the whole fucking world. That bastard on that camel, we will get him if it is the last thing we do.
Wall Street bankers will get their bonuses and excessive pay as our economic system collapses.
Expired
Oh Canada--if McCain wins, I want to emigrate to Vancouver, hopefully they'll have me. Not sure they'll let me in when they discover I'm a NY Rangers fan?
Fair Economist | Homepage | 10.24.08 - 10:00 pm | #
Amerkuns can't believe that anyone else in the world is proud of their country. They are so insular, narcissistic, and ignorant of the world and even more nowadays, insecure about the veracity of their mythology, that they seem to tend to view anybody else from another country that is patriotic as a threat and attack them for it. I laugh at it because as Chomski says, Amerkun's biggest problem is an education problem. They are just so unbelievably ignorant and it's so obvious to someone outside of the system looking in, but because of their cultural narcissism they cannot see it.
Canadien avec popcorn:
Osama bin Camel knows you better than you do. Every moment you chase him is a moment you're not attending to your economic fundamentals.
And those fundamentals are tanking.
If you caught and killed the Camel-riding Osama tomorrow, what impact would it have on your crumbling empire?
Fools.
If you caught and killed the Camel-riding Osama tomorrow, what impact would it have on your crumbling empire?
Fools.
Candy for oppressed kids | 10.24.08 - 10:15 pm | #
What frigging empire would that be? I thought we were making a stand against tyranny.
Ross-- agreed.
Comrade Canadian-- My Navy spouse (nuke guy) & I were at a NATO base in U.K. for a while-- & small contingents of Canadians, Dutch, other Nato forces would visit for joint maneuvers-- in sorta liquid mini-UN meetings, all would then repair to local pubs to get "legless". Those Canadians were indeed tough, & a helluva lot of fun, too!
Sue-- on '25.99% plus late fees' et al to to Cap One-- LOL if only---
Yes the nobel prize in economics was set up by the sweedish central bank, but so what? Any particular majic to the prize being set up by a explosives manufactuer. The prize in econ is not quite as old as the origionals, but not exactly something just set up for PK. Think the first was in 68, so PK is the 40th. Previous winners have been a pretty distinugished group and not all Keynsians or liberals. Admittedly econ is a softer science than physics or bio, but a bit harder than "Peace".
Candy for oppressed kids
You missed my irony.....
Let myself talk to himself until his reading gets beyond wikipedia and Taleb.
comrade canadien avec popcorn.
Iraq is on the back burner here, and Afghanistan surfaces only occasionally amid the political chatter.
My sincerest apologies if any of my countrymen, even if unintentionally, insulted your military or your country.I am happy for Canada that it wisely chose to skip the shrub's war in Iraq...
I contend that if Canada armed its Junior A hockey players and sent them south, we'd be toast.
Regards.
.
fried | 10.24.08 - 10:37 pm | #
Dude, it's all good.
SMART MAN..............
Canadian Air Force - I am reading 135 active CF-18 strike aircraft (an FA-18 variant with upgraded avionics). A recent Sidewinder IR missile variant and AIM-120 AMRAAM radar missiles.
Very capable aircraft. You would really need to be in the big leagues to fight these guys.
comrade canadien avec popcorn,
I grew up on the border, in the burbs of Buffalo. I can remember many snowstorms in many years when the Canadians sent snowplows south over the Peace Bridge to dig us out.
Again, my regards.
I listened to Paul, and as near as I can tell he has no clue, and practically admits to it. He does manage to pin blame on Paulson for Lehman, but he the result of Lehman failure was lack of confidence, so he says.
I tuned it off, because I cannot think that economics is so primitive that we are back to animal spirits.
Yay, Troy NY!
DK - The non-borrowed reserves numbers are a by-product of accounting for the TAF. Read and learn:
How Non-Borrowed Reserves Became a Sexy Subject: Caroline Baum - Bloomberg.com
He looks like a little elf. So cute! ;^)
Never hear much news about the wars in Afghany and Iraqy; just the sectarian conflict, just the PTSD cases, nothing else. Funny that.
Couppla months gonna have 20%+ of the domestic workforce sitting on their hands plotting mayhem while our military is abroad sitting on their hands plotting happy reunion. Neither may get their way.
Recapitalization is not going to solve depreciation, unless the bailout is connected to real assets which have future value, i.e, this is like driving a car off the lot for full price, then seeing the car crash in value, then have you Aunt Betty give you an IOU which suggest the value of the car is going to be worth more than when you bought it -- this is impossible bullshit, to suggest that recapitalization with IOUs will result in future value, because the assets in question will depreciate going forward because of inflation and time decay, i.e, things that get old, are worth less....
I may not be a Nobel economist, but....
When will we start to blame the Hobos?
Not to poke a sore subject, but of course Canada has a military,...we attack it by mistake every five years or so. The US military has a lot of 'friendly' blood on it's hands.
My condolences to the Canadians.
Roll out more unemployment benefits, elect Obama, let the pendulum swing to over regulation, tax Jimmy Carter style...perfect! Problem solved.
myself: I could be a..."Head of State"... well, you could be a dog, too.
CR,
shame on you for wasting 30 minutes of my saturday morning. i expect if you post a video, it is remotely worth watching. krugman is a blundering academic.
How Non-Borrowed Reserves Became a Sexy Subject: Caroline Baum - Bloomberg.com
Feb. 8, 2008:
Isn't Krugman the guy who said the reason republicans wre critical of FRE and FNM was because they were taking business away from Mozillo and other private lenders? How this guy can completely miss the fact that the Orange Man and the GSE's were buddy buddy, raking in millions of $$$ together, and still win the Nobel Prize is beyond me.
Comrade, Psychodave...
Rothbard addresses it in detail here:
What Has Government Done to Our Money? by Murray N. Rothbard
LS
it is a nice day for forex