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US Treasury Bonds
- Thread starter Spiky
- Start date
What a complete load of crap. Krugman was one of the very first to warn about the looming disaster long before anyone else. As early as May 2005, he warned that US was coming to the end of a giant housing bubble in the NYT:
http://www.nytimes.com/2005/05/27/opinion/27krugman.html
and of course he was dead right.
Let's put it this way. Even discounting the Nobel prize, Krugman has been a professor at Yale, Stanford, MIT, Princeton. He is actively sort after by economics department in every top university; major corporations would pay him $50,000 a day to just give a talk (in his pre-NYT days); and many central bankers and treasury officials throughout the world would privately seek advice from him. If that is what you would classify as an "idiot", then I'm happy to be counted as one.
You seem a little confused about what constitutes "parroting" and what doesn't. Let me pare it down for you.
There is only one truth. If Krugman says it first and I'm wise enough to judge that his arguments are sound, then I see the same truth and that hardly counts as parroting.
Copernicus argued convincingly that the earth revolves around the sun. That's what I would say too if you ask me but it's a stretch to say that I'm parroting Copernicus. You could say that earth revolves around your HDB flat — that would indeed be your _own_ view but it would be just plain silly.
Z
Zombie
Guest
economists are like rock singers...
they keep singing and singing.. and they just need one or two hit songs to become rock stars
And still the crash happened. Well, that says a lot about him and his theory. also say a lot about his listeners and followers.
economists are like rock singers...
they keep singing and singing.. and they just need one or two hit songs to become rock stars
Thanks to American No 1, most economists are trained in just one school - Keynesians. Only the odd ones still believe in Gold.
By 2005, the mainstream economists are waking up to Greenspan flawed theories. But no one has experienced a global financial tsumani before, even book publishers are refusing to take on writers of this topic.
Everytime Ben The Helicopter goes to Jackson Hole, Wyoming, It is to plan more quantitative easing.
Ease some more and we will be using US dollars as toilet rolls.
See the link - Jackson HOLE, quantitative EASING, USD bills become TOILET PAPER. What does that tell us, we are going to be in deep SHIT soon.
Food/Utilities prices skyrocketing.
hot-money Asian Financial Crisis II in 2012?
It is actually quite a sad situation :(
Many were already worried about the americans over borrowing before the sub-prime crisis.
Now we are all taken for a roller coaster ride led by the americans
Bernake is actually one of the few handful of economist who studied financial crisis in great detail and research into how to avoid them. If there is anyone who knows how to avoid a crisis or to get a country out of one, he is your man. I would argue that had Bernake not taken over the helm right after the titanic ran into the iceberg, the financial crisis would have taken a much longer, more painful and probably less effective recovery.
Do a Google and you'll find plenty of his writings.
Do a Google and you'll find plenty of his writings.
Ben is trying to fit the economic & financial problems into what he studied (monetary problems) so he is applying the correct solution to the WRONG problem.
A lot of academics make that mistake. See how he scold Congress like a lecturer scolding students. Using stupid terms of reference not applicable to the real world!
It is actually quite a sad situation :(
Many were already worried about the americans over borrowing before the sub-prime crisis.
Now we are all taken for a roller coaster ride led by the americans
They are borrowing to consume, that is the problem.
Every single dollar note is a debt paper. No Gold backing, post-1972.
In 1973, Gold is worth USD37.
Z
Zombie
Guest
I thought Bernake already taken over the helm, years before titanic actually hit the iceberg?
Bernanke took over Fed Chairmanship in 2006. The credit crisis unfolded in 2007.
Another wise ass and his gold standard theory.
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During WW2, USA is exporting wars and weapons, up to the Iraq War. They only way they can get out of these mess is to get other nations fighting, and they sell weapons.
Z
Zombie
Guest
But BB was already one of the very few board members of Fed since 2002, who shaped the economy. Bush also asked BB to lead Bush's economic advisors in 2005 before BB took over Fed in 2006.
Fed Governor is not the same as Fed Chairman. Even today, there are a couple of Fed Governor who openly and vocally disagrees with Bernanke's policy.
Forget about educating those clowns with their eyes in blind. US economy is going down and going down fast with their current monetary policy while I am enjoying my gold and silver making all time record high. Insanity is those keep doing the same thing expecting a different result. The Fed has lots of those inside.
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Jim Rogers 11/10/10: Bernanke is a Disaster!
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