I skipped the comment cages

as is now my wont
after

delongeurs rips off another

one of his brisk but lingering mind-farts

round up the usual wind bags gang
let it blow

let it blow

let it blow

our very own laff track
can provide all the platitudes we need

so why mark

are u importing nearly every opuscule

this

jelly memed neolib produces ???

what in hell does this particular florish
of scurling

spiraling recycled methane

add to the collective panoramic

here at econcon central sightings ????

not only

has our bradster's covered wagon

failed to climb

to the crest of today's blasted hill

and viewed the sobering enlightenment beyond

if anything

he seems to be sliding backwards

then again
at least he's not furiously

lashing his poor faithful old neoclasical oxen

like a certain desperate poseur

who's last name begins with a P

seen posted in these parts recently

Posted by pinky at 10:18 PM

recently mutual of senegal asked me —- in a btw type comment —-
to mug shot craig paul roberts the once renowned reagan era voodoo-iste

now rabidly anti wall street laputa



i hesitated so long as his rants were aimed at the gun play of corporate empire american style

but suddenly i find paul craig has obliged me with lovely material

http://www.infiniteunknown.net/wp-content/uploads/2009/02/paul-craig-roberts.jpg

an aria on the dolorous days our upper middle income class now passes thru



——upper middle class ??? ummh sez pc those are the folks like these:



“a husband and wife who are associates at major law firms, each of whom works 60 hour weeks

and has no job security…(earning )… $125,000 each. “——



Herrr Roberts beef ?? obama has these orphans of the casino storm in his tax cross hairs



“The upper middle class with $250,000 gross incomes are major losers of the financial collapse. Many of the people in this income class are leveraged to the hilt in order to maintain appearances and can be swept away as easily as the very poor. But those who were frugal and invested for their future have lost 50 per cent of their savings. These wiped out people are the ones who will bear the brunt of Obama’s tax increase.”

the o sole a mio impersonation by billy babbit jr here  almost becomes openly self satirical

“If the tax rate on a multi-million dollar annual income goes up by 5 percentage points,

the cutbacks won’t really affect the lifestyle. But for the $250,000 gross income group, it means no prospect of private schools and Ivy League education for the children, who will be attending state colleges with the rest of the non-rich.”



to be strictly fair

roberts is a “free “labor man to the bone



” Historically, the definition of a free person is a person who owns his own labor. Serfs were not free, because they owed their feudal lords, the government of that time, a maximum of one-third of their labor. Nineteenth century slaves were not free, because their owners could expropriate 50 per cent of their labor…Today, no American is a free person. The lowest tax rate, not counting state income, property tax and sales tax, is 15 per cent Social Security tax and 15 per cent federal income tax.

The “free American” starts off with a 30 per cent tax rate, the position of a medieval serf.”

implied conclusion :

50%— swedish level — tax hauls out of “earned income” are the moral equivalent of chattel slavery



Q.E.D



——-

a digression:



i've never cottoned to alex the pink's block of rights frights lites mites and botchky-ites

over there at  counter punch and i've often had mr PCR here upper most in my mind

a broad “frente” with this jamocks is foolhardy opportunism ralph nader represents

the better angle of that much put upon much asked of class 

our ultra meritoids… “ notre haute professionalistes”

not babbit libertarians like roberts ..

at any rate

taxing the 250k class sounds perfect they love their job site hair shirt

so why not a second taxman hair shirt…layering is often fashionable eh ???



boo hooing for our honest meritoidal lunatics is a silly waste of  personal salt water

Posted by pinky at 03:11 PM

the false populist solution
of a return to small banks for small projects

ie

a placid walled off ghetto for slow dumb money
while the fast smart king kongs slug it out on the other side of the gate

this will fail to keep the little people safe

conjecture

there can be no maginot line
built here

a fresh legion of little fay rays
must be sacrificed

every cycle

Posted by pinky at 10:15 PM

typical
phelps production

errr ummh so what ned

yes
his innocent self importance

builds a portentious aura

about him

and

his wildly hamstrung over bright guy prose

somehow manages to suffuse

even his pea sized prufrock dribbles

—-like the above—-

with implicit importunings….

” hey u dopes ..pay attention
its ME ..Ned talkin here”

pea sized ???

yes ladies and gentlemen of the jury

exhibit z

banality
encrusted in loopy lingo

“improving the ability of financial markets
to self-correct to sustainable values

is the entire point of prudential regulation”

exhibit f
timid oblique

pussy footing

“Since the costs of financial conglomeration are not offset by its informational advantages, some have called for a return to “narrow banking.”

“some ” ned ???

you gotta thunder like old dan webster
to make a sudden tip toe word like “some”

work for ya

exhibit a

pushing the lates ersatz
meme product innovation

” A new conceptual framework – Imperfect Knowledge Economics (IKE)”

then the ron popeil like claims :

”.. provides the rationale for policy intervention in asset markets, and also has important implications for how regulators should measure and manage systemic financial risk “

the odd self distancing

almost to third person self reference

after all
is u one of the some here ???

or an infallible hand type oracle

with a pointing finger ???

in general
my beef is the usual one:

the soft stink of corporate ass kissing
that wafts thru post 70's ned-werks

like his nobel 5 minutes
of fame

spiel

uncle oughta pay a subsidy
to the profiteers to job hire

us

less able types

vs

simple eitc expansion

ned will play the elasticities

that favor the profiteers if its not to conspicious

mankiw at least
willingly takes

(..on occasional… )

the hurled cream pie to the face

not ned

he lives for one of his double domer

mystifying

three cushion shots

as if we're all

his 3rd grade teacher

mg
i read his letter

its utterly banal
save the absurd claims for a new paradigm

at the end

be at the center of innovations
is so much ned's driver

he 's now in his sterile dotage

become

a fancy pants pitch man

for IKE

a macro swill

billed as cure all expectational elixir

produced straight from ye ole tap

at

the nyu rebottling plant

Posted by pinky at 09:57 PM