Why the Meltdown Should Have Surprised No One

Started by AP, May 14, 2012, 05:09:50 AM

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AP

Better listen to this guy. I never thought i would have been so educated.

http://youtu.be/EgMclXX5msc

JimB

Nobel Prize winning economist Paul Krugman predicted it back in 2006.
Some bits and bobs
The Galileo Fallacy, 'Argumentum ad Galileus':
"They laughed at Galileo. They're laughing at me. Therefore I am the next Galileo."

Nope. Galileo was right for the simpler reason that he was right.

penang

Quote from: JimB on June 06, 2012, 05:28:14 AMNobel Prize winning economist Paul Krugman predicted it back in 2006.



And Paul Krugman's answer to the meltdown ?

SPEND MORE MONEY !!!

As if adding up more debt to pay debt makes sense

... and btw, Mr. Krugman wasn't the only one who predicted the meltdown ...

If you can check usenet, you'd see that there were other people who had predicted the meltdown, even before 2006



inkydigit

Quote from: penang on June 06, 2012, 07:23:50 AM
Quote from: JimB on June 06, 2012, 05:28:14 AMNobel Prize winning economist Paul Krugman predicted it back in 2006.



And Paul Krugman's answer to the meltdown ?

SPEND MORE MONEY !!!

As if adding up more debt to pay debt makes sense

... and btw, Mr. Krugman wasn't the only one who predicted the meltdown ...

If you can check usenet, you'd see that there were other people who had predicted the meltdown, even before 2006
is it the Mayans?

penang

Quote from: inkydigit on June 06, 2012, 01:23:04 PM
Quote from: penang on June 06, 2012, 07:23:50 AM
Quote from: JimB on June 06, 2012, 05:28:14 AMNobel Prize winning economist Paul Krugman predicted it back in 2006.
... and btw, Mr. Krugman wasn't the only one who predicted the meltdown ...

If you can check usenet, you'd see that there were other people who had predicted the meltdown, even before 2006
is it the Mayans?


If the Mayans got access to Usenet, that is



JimB

Some bits and bobs
The Galileo Fallacy, 'Argumentum ad Galileus':
"They laughed at Galileo. They're laughing at me. Therefore I am the next Galileo."

Nope. Galileo was right for the simpler reason that he was right.

penang

Just because Krugman got the Nobel prize doesn't mean he is right all the time

But anyway, that Krugman's argument just does not gel - you can't pay debt with more debts, and then repeat it time, after time, after time

AP

Keynesian Economics will never work. You just can not keep printing money until it looses it's value to the point of being nothing more then worthless paper. It has been getting at that point over the decades now anyways. You can Tax the rich into oblivion and it still will not fix the problem. When will we get it that the current ways of doing economics does not work. Suppose it will take a global crash possibly. Look at Europe. They are not getting it over there. The Greeks are now using Gold, Silver and Bartering and it seems to be working quite well. The inception of the FED in 1913 started this mess, FDR extending The Great Depression, Nixon getting rid of the Gold Standard and on and on. I will trust Peter Schiff any day of the week over a Twat like Krugman, Greenspan and Bernake.

AP


AP


penang

Quote from: ChrisC on June 10, 2012, 02:57:58 AMKeynesian Economics will never work. You just can not keep printing money until it looses it's value to the point of being nothing more then worthless paper. It has been getting at that point over the decades now anyways. You can Tax the rich into oblivion and it still will not fix the problem. When will we get it that the current ways of doing economics does not work. Suppose it will take a global crash possibly. Look at Europe. They are not getting it over there. The Greeks are now using Gold, Silver and Bartering and it seems to be working quite well. The inception of the FED in 1913 started this mess, FDR extending The Great Depression, Nixon getting rid of the Gold Standard and on and on. I will trust Peter Schiff any day of the week over a Twat like Krugman, Greenspan and Bernake.



I have a feeling that most here do not want Keynesian economies to go away

It is in human nature that we are lazy, and lazy people always want easy money - and printing money is always much easier than having to work for it

Same as those in perpetual welfare - why do you need to go to work, and work hard, everyday when the government will give you free money anyway?

It's "I need to get my share of Free Lunch" syndrome, and most will prefer to believe in Krugman's idiotic ideology than to use than own brain to think

Even the Nobel prize committee is filled with those who do not mind to get money for nothing - they gave Krugman a Nobel Prize for economy, didn't they?

I do not foresee a bright light at the end of the tunnel - and at the rate we are going, with near zero interest rate and governments creating billions and trillions of dollars out of thin air - this whole thing is getting worse by the day and one day this thing just gonna crash

What will happen I do not know.

I don't have a crystal ball for that, but I can tell you that it will not be pretty

Even stock markets are getting in the act - Asia's stock market indexes have shot up today after learning of the so-called "good news" - that the European Union gonna lend Spain yet another 125 Billion dollars (100 Billion Euros) to shore up their banks

Don't they ever learn that what they are doing is to pile more and more cards on a house of cards?

But I digress ....

penang

Quote from: ChrisC on June 10, 2012, 03:43:35 AMYou know, i just want Obama to go away.

http://youtu.be/oSFqfVJvT8g



Sad news for you

Obama gonna win this November

That Massachusetts guy Romney just do not have the stuff to beat Obama

Instead of getting Ron Paul the the GOP representatives sold out to Romney's mighty wealth



matrix2003

Quote from: ChrisC on June 10, 2012, 03:43:35 AM
You know, i just want Obama to go away.

http://youtu.be/oSFqfVJvT8g

Sorry the headlines do not agree:

"Big business sitting on vast cash reserves, refusing to hire. GOP stalling economy."
"Companies Sitting On Record Surpluses of Cash"
" Mar 19, 2012 – Apple is sitting on nearly $98 billion dollars in cash and securities. ..."
"March 1, 2012 - Hundreds of Billions Sitting on Tech Companies' Balance Sheets"

So lets all blame Obama. Doesn't fly with me!

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-MATRIX2003-      ·DHV·  ....·´¯`*
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rcallicotte

So this is Disney World.  Can we live here?

matrix2003

It matters not who is elected. Since Bush, Congress has become the number one enemy of the people. The next iteration of Occupy is going to be more ugly and violent.
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-MATRIX2003-      ·DHV·  ....·´¯`*
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