House of Paine

krug chews the rug

 krug on a mission 
of commercial self promotion
seems here
to tip a bit
 too far to the side 
   of sublime retribution fantasy ........



-----------------------------------

"Krugman -
US Economic Crisis
 a Question of When 
       Not If"


"This is a group of people 
who don't believe that any
of the rules really apply,"
 
"They are
utterly irresponsible."

" i'm  currently 
taking some time off 
from
journalism to write and promote
 the second installment
of my  latest project
 -- an economics textbook
 aimed at
making the science 
  more accessible
 to college students."

,
 "YES I'm 
very   worried
 the Bush
administration's 
fiscal policies 
are going to push
 the US economy 
into a rut."

-------------- "a rut"?----------------
 
"my  most immediate worry 
  is that Bush will
   push through more tax cuts"

-----no
he  just wants 
to make his so far tax cuts  
           for ever  tax cuts  
which means absolutely nothing
really
its all a game of see yonder 
till he's out
 of harms way 
in 5 years 

why?

cause  
 tax cuts ain't cuts  
till   their cuts 
the tax rates
 for 2010 
ain't 
 in or  out 
till they're 
 finaly in or out in 2009
when george will be 
 back
 in crow-fart  -----------

" then he plans on trying to 
privatize social security"

------- man this is the biggest
 donkey trap 
 since
the state by state 
property tax cut 
popular referendum scams 
of the late 70's
watch the jack ass 
school marm 
 this one too ------------

"the white house
is  ignoring a chorus
    of
economic thinkers 
who caution 
against such measures."

-------"economic thinkers" .."caution"
             pppppprrrrzzzzzzzzzzzzzpppppop----------- 


"If you go back 
and you look 
at the sources 
of
 the blow-up of Argentine debt
 during the 1990s,

------ holy shit
   is  uncle's
          country 
   about to become 
      argentina with ear flaps ------------
 
"one little-
appreciated thing
 is that social security privatization
was a important source 
of that expansion of debt,"
 
---------- wow ------------------------

"In 2001, Argentina 
finally defaulted 
on an estimated
$100 billion in debt 
and i think that was
the largest such event 
in modern
economic history."

------------- and our external soverign debt
 is 3 trillion 30 times as big 
caplllooooeeeeee-------------------


"So if you ask the question
 do we look like Argentina,
the answer is 
a whole lot more 
than anyone is quite
willing to admit 
at this point. 
We've become 
a banana
republic."

--------
what can one say ...
a banana republic 
     el  teo  chiceeto 
   sure am one hell of a big banana 
      the long dong silver
of banana republics  -----------------


"the Crisis might take many forms"

-------- the crisis will come
            how
 when 
who can tell
but it will come
there is no doubt
it will come 
yes my children 
there will be a great reckoning ------------
 
"but one key
concern is the prospect 
that Asian central banks
 may
lose their appetite 
for U.S. government debt 
which has
so far 
allowed the United States
 to finance its twin
deficits."

------- else where this egg noodle catastrophe 
                           has been addressed ---------


"A deeper plunge
 in the already battered 
U.S. dollar 
is
another possible route to crisis
 the professor said."

------ oh even if the chinks 
and nips CB's 
keep eating  dollars 
as now 
 still the buck could go into free fall?
     how ?  ----------------


"The absence of any mention 
of currencies 
in 
a communique from 
the Group of 20 rich and emerging
market countries 
this past weekend 
only reinforced
investors' perception 
that the United States,
 while
saying it promotes a strong dollar,
 is willing to let
its currency slide further."

--------- right and why not
thats how the external 
   payments   deficit gets shrunk -----------


"The break can come 
either from 
the Reserve Bank 
of
China 
deciding it has enough dollars,
 thank you, "

---------- none sense paulio 
and you know it
or you'd 
give a good reason 
why they'd stop
and you don't 

if while gobbling dollars
they can adjust internally
fast enough to retain control 
of their own  credit system
why not keep the trade ripping along 
 or 
are you claiming they can't 
control their domestic credit expansion ? ---------------


or
from private investors saying
 'I'm going to take a
speculative bet 
on a dollar plunge,'
 which then ends up
being a self-fulfilling prophecy,"
 Krugman opined.

--------- woops u mean greeny et al in
the CB  cabal 
can't thwart the specs run ? 
well what can they do then ? 
have they no real control
are they a figure head 
or are the specs and the banks in silent cahoots?
krug adddress this
otherwise you're no better then 
 a damn stem winding bally hooer  -----------

"Both scenarios 
are pretty unnerving."

----------- oh paul please
this iz pure hokum  
and of the basest
  rolling 
   medicine show  variety -------


"In the longer-term,
 Bush's version 
of social security
reform, 
will  relegate pensions 
for
the elderly 
to the whims 
of volatile financial markets"

-------- so? 
hows this matter here 
people can't be prudent
typical liberal
but then why not attack 
401k's or ira's 
for poor folks 
that aren't all in treasuries
where's the diff  ---------------


"privatization
could have wide-ranging 
implications for future
generations"

---------what an air ball
what wide ranging implications?
how bad ?  how big?
like maybe 
a senior household dust bowl ?---- ----------

"The only bright spot 
in having Bush in power 
for
another four years,
is that further
economic mismanagement 
might trigger some sort
 of
popular outcry."

------- krug the trot
the worse the better  --------------

"I do believe at some point
 there is going to be
 a popular tidal wave 
against what has happened,"


------- here's the lovable sublime goofy 
leon  krugsky 
or is it just eye wash
to draw flies
to his shameless flog
of  his joe and jane  college primmer ? -----------

 "In the meantime, 
you keep banging
on the drum, 
you keep telling the truth"


--------  i love that
" keep banging on the drum "
bit 

problem with it ? well for one 
                 its a bongo drum
  you fuckin carnival monkee
 you  cheap sunday school  huckster
fuck you    
putting the  knock 
on the other teams
 patented poison  
when your own is up for sale     ---------------

===============================

but i forgive him

"And then eventually 
we have the great demonstrations"

------- 
" the great demonstrations? 
(ala kiev?)
aah paul
 here you pluck my klass  strings 
                        good boy 
what shameless feel goodery -------------


" I think demonstrations  
are important
 to let the government
 know
that many Americans 
are not happy 
with what is hapening "

------------ sending messages
   that will actually get thru 
        to these whalers?
     better  leave that
      to the iraqi insurgents ---------------

----------------------------

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