When it's time to admit They were right

And by 'they', I mean 'keynesian'.

David Frum, a well known and reputable Very Serious Person has put a spin on Susan Sontag’s once provacative and unpopular question:

Imagine, if you will, someone who read only the Wall Street Journal editorial page between 2000 and 2011, and someone in the same period who read only the collected columns of Paul Krugman. Which reader would have been better informed about the realities of the current economic crisis? The answer, I think, should give us pause. Can it be that our enemies were right?

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So how bad does the truth hurt?

I never read the WSJ or Krugman, My portfolio is up 43% since January 2011. Add in what I have put in and its up almost 55%. Last year was better.

How much of that 43-55% is making up the losses of 2008-2009?

Wall St. used to be near 15000 now floats 10-12000 and went as low as what... 6k or so

My portfolio is empty, haven't used a low interest bank in 20 years and refuse to add my $$ to the gamblers pot on wall street... yet my safety deposit box and home safe have been giving me returns of approx 400% every 3-4 weeks..... Tis nice to live in Colorado and participate in the 30% supply for Alternative Medicines here.

take 10% of your gross paycheck, stash it do not spend.(untouchable)

Quit smoking(cigs), slow down on mother nature and stash the savings and you can keep pace with wall street. ($60.00 week stashed)

Skip your Starbucks and stash the $$ you would have spent and you outpace interest banks pay. ($25.00 week stashed)

Invest part of stash into your state legal dispensary grow.... $$$$$$

Once you make back initial investment and some profit replace investment to stash. 10% of profit from Alternative medicine goes to untouchable stash.


* you do not have to grow hundreds of plants. They want quality for the 30% they do not grow themselves.

People still read the news paper?

mame said:

And by 'they', I mean 'keynesian'.

David Frum, a well known and reputable Very Serious Person has put a spin on Susan Sontag’s once provacative and unpopular question:

So how bad does the truth hurt?

Click to expand...

I'm not quite sure what you're looking for here. Since Krugman has now been proven to be a complete idiot, as well as his economic recommendations proven to be abject failures when followed completely or in part, I have to assume you are asking how bad the truth hurts to the ilk like yourself.

The truth doesn't hurt true fiscal Conservatives at all, Stimulus was an abject failure, it's going to cost this administration the next election. If the incoming President and legislators do an about face, unwind 80+ years of progressive bullshit, then we actually have a chance to turn this economy around.

YES!!!! please vote in "conservatives" and more Chigaco school idiots so we can crash and burn that much faster. Get it over with so we can start over with a fresh balance sheet.

NoDrama said:

I never read the WSJ or Krugman, My portfolio is up 43% since January 2011. Add in what I have put in and its up almost 55%. Last year was better.

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That sounds pretty impressive, I hope to see those kinds of gains in the future; ATM all my investing is centered around green gold and school. I'm still preparing to buy a house in the next couple years - I hope to catch prices on their way up(or while they're still bottoming out or near) - but ofc that entirely depends on how fast I can get my ducks in a row.

People still read the news paper?

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WSJ vs. Krugman is basically just Frum saying in a very nice way that Keynesianism has won the debate vs. the Freshwater/Austrian types. Keynesianism has correctly predicted interest rate behavior, the effectiveness of the Obama stimulus (inadequate!), and Keynesianism diagnosed the "Liquidity Trap". Keynesianism - and this is a big one - predicted that inflation would remain low as long as the economy was depressed, even in the face of a TRIPLING of the monetary base... It was also the Keynesians who first cried foul when Austerity was being billed as expansionary by the likes of the ECB and other Very Serious People... How have all these predictions worked out? Exactly as the Keynesians predicted.

"Can it be that our enemies were right?"

Yes, Frum - they were right.

MuyLocoNC said:

I'm not quite sure what you're looking for here. Since Krugman has now been proven to be a complete idiot, as well as his economic recommendations proven to be abject failures when followed completely or in part, I have to assume you are asking how bad the truth hurts to the ilk like yourself.

The truth doesn't hurt true fiscal Conservatives at all, Stimulus was an abject failure, it's going to cost this administration the next election. If the incoming President and legislators do an about face, unwind 80+ years of progressive bullshit, then we actually have a chance to turn this economy around.

Click to expand...

None of Krugman's recomendations have come to pass. In fact, when Obama and co. were putting the first stimulus together Krugman ate dinner at the White House and failed to convince Obama that $800B would be too small... So to say Krugman's recomendations have failed is very dishonest and not useful for any debate. This thread isn't so much about Krugman himself anyway, it's about how Keynesianism has won every academic debate that's taken place since the 08 recession... It's about how Keynes' book, "the General Theory of Employment" predicted how this ENTIRE crisis would play out decades before it ever happened.

Mame, stop giving them the facts. Their brains can't process them.

=)

MuyLocoNC said:

Stimulus was an abject failure

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the biggest atx break in american history, thoroughly hated by conservative partisan hacks.

MuyLocoNC said:

...it's going to cost this administration the next election.

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all those tax breaks are totally gonna come around to haunt them.

and the whole turning around a 700k monthly job loss into 1.5 years of job gains, boy that will really suck for them.

they really should turn tail and talk about abolishing social security like you say, THAT will get them some votes

what fucking planet do you live on?

[video=youtube;0TkZ-u4O0Lg]http://www.youtube.com/watch?v=0TkZ-u4O0Lg[/video]

Willyßagseed;6516344 said:

How much of that 43-55% is making up the losses of 2008-2009?

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My portfolio is up a total of 508% since 2007

rick perry has said that the stimulus created "zero" jobs.

rick perry must not pay that much attention to what goes on in his own state.

when i was in el paso, i saw numerous signs on the highway that read "funded by the american recovery and reinvestment act" along with workers working on the roads. they were using machinery that they bought or rented from a construction equipment sales and rental business, laying materials from another business that sells asphalt and whatnot. they were using pipes for culverts and water drainage manufactured by a company that employs people to make pipes. dressed in bright orange clothing made by some company that pays workers to make bright orange clothes.

they are widening the 26 west of portland to three lanes through beaverton, which is needed as it always bottlenecks there. people sit in traffic and idle, wasting gas. businesses shipping goods sit in traffic and idle, wasting gas and driving up the end price to the consumer.

not only did these investments create jobs directly, they also created jobs indirectly and made america a better place to do business.

so people like perry and muyloco can take their false claims about this stimulus and blubber about them all they want. doesn't change the reality that is easily observed by all.

NoDrama said:

My portfolio is up a total of 508% since 2007

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my portfolio is sitting in bags on my kitchen table

UncleBuck said:

rick perry has said that the stimulus created "zero" jobs.
rick perry must not pay that much attention to what goes on in his own state.
when i was in el paso, i saw numerous signs on the highway that read "funded by the american recovery and reinvestment act" along with workers working on the roads. they were using machinery that they bought or rented from a construction equipment sales and rental business, laying materials from another business that sells asphalt and whatnot. they were using pipes for culverts and water drainage manufactured by a company that employs people to make pipes. dressed in bright orange clothing made by some company that pays workers to make bright orange clothes.

they are widening the 26 west of portland to three lanes through beaverton, which is needed as it always bottlenecks there. people sit in traffic and idle, wasting gas. businesses shipping goods sit in traffic and idle, wasting gas and driving up the end price to the consumer.

not only did these investments create jobs directly, they also created jobs indirectly and made america a better place to do business.

so people like perry and muyloco can take their false claims about this stimulus and blubber about them all they want. doesn't change the reality that is easily observed by all.

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But then we have people like you who cannot look beyond scratching the surface. First off government does not create jobs it creates debt.
The people pay for these inefficient jobs that government is doing. Your little pea brain isn't big enough to understand the money taken from tax payers would go into the private sector thus creating jobs where they are needed as defined by our purchasing power. Not defined by a bought and paid for politician who takes care of his buddies. Plus it would be spent more wisely in the private sector.

NoDrama said:

My portfolio is up a total of 508% since 2007

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man..you should be working at a hedge fund

Our Portfolio is up 200%
But then again go back a year before 2008 it isnt up that much
It just got back all of what it lost

UncleBuck said:

my portfolio is sitting in bags on my kitchen table

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Im still smoking stuff from last harvest and the current batch won't be ready for another 6 weeks. Ever notice you get bored of the same strain after a while?

mame said:

And by 'they', I mean 'keynesian'.

David Frum, a well known and reputable Very Serious Person has put a spin on Susan Sontag’s once provacative and unpopular question:

So how bad does the truth hurt?

Click to expand...

The answer is neither one of them, this choice is propaganda vs propaganda.

dukeanthony said:

Our Portfolio is up 200%
But then again go back a year before 2008 it isnt up that much
It just got back all of what it lost

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LMAO You expose yourself almost every time you post. First off I doubt you have a portfolio. An old baseball card and a rubber you've saved in hopes of losing your virginity don't qualify as a portfolio.
Why don't you tell everyone here, why didn't you move your money elsewhere before the crash since you claim to know economics?
Why would any rational person listen to an economic failure like youself?

UncleBuck said:

my portfolio is sitting in bags on my kitchen table

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Trash is your portfolio? You said you had some recent grow problems so you can't be referring to weed. Sounds like you've got memory problems, but accountability isn't your long suit is it?