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« Paul Krugman Kicks Elite Ass, Faceplants Into Keynes | Main | Osama To Al-Qaeda: 'Don't Bother Assassinating Joe Biden' »
Friday
May132011

Paul Krugman: Huckster, Liar & Debt Apologist: "We Have 5 Or 6 Trillion To Play With Here"

Flashback to 2009...

Krugman:

  • "We have 5 or 6 trillion to play with here."

Paul, this is not a game.  Here are the official numbers again.  Total national debt is now $11.6 trillion.  GDP has shrunk to below $14 trillion, but we'll round up because we're nice, and the numbers need all the help they can get.

National debt to GDP is therefore already 82.9%, not the grossly understated 45% that Krugman claims.  And we're adding roughly $1 trillion to the debt total every 7 months.  Why are his numbers so different?  Because he's a disingenuous apologist for wasteful stimulus spending, and to sound the alarm on debt would be to derail his dream of an ultimate Keynesian victory.

The explanation for the discrepancy in the numbers is explained fully here and here.  But nutshelled, Krugman is not counting Treasury debt that is held by the Intra-Governmental Holdings account, which is primarily the "trust" funds for Social Security and Medicare.  In other words, the government has borrowed the entire annual surpluses for these programs every single year and given Treasury IOUs to these statutory trust funds in exchange. 

But complicated language aside, it is still officially part of the national debt and all responsible calculations do NOT exclude it.  Krugman is so political he is no longer even responsible with the numbers, the lifeblood of his dismal Keynesian science.

It's a f**king racket like everything else in Washington, and Krugman gives lying a good name when he chooses to quote these misleading figures.

The Peterson Foundation has the real numbers here.  As they detail, if you include our unfunded liabilities for SS and Medicare, the actual national debt is greater than $50 trillion.  This is not a joke.  Stories such as this are the killers for me.  The numbers are bad enough, and when Nobel prize-winning Keynesian witch doctors like Krugman contribute to the misinformation by understating the problem for political purposes, I am pretty much ready to shoot myself.

My entire battle with this site is focused on creating awareness and presenting the truth.  And Krugman of all people should be more responsible with his numbers given his stature and pulpit.  Bob Knight says f**k you Paul Krugman.  America's getting mugged and you're lying to protect the street thugs.

And 2 final angry points.

  • Your deficit numbers for this year are way off.  You predicted $1.4 trillion in the clip.  I predicted $2 trillion in January.  I do not have a Nobel Prize.  You do not have a brain.
  • Do not for doubt for a second that Krugman's decision to quote the misleading debt figures was made consciously.  Every student of the debt and deficits is aware of both of these sets of numbers.  And when one chooses to quote the artificial numbers, one is committing willful fraud.

Thankfully, this is the last of a 4-part Times Talks series with Krugman.  If you're a masochist, feel free to watch them all.

 

 

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Reader Comments (27)

Anyone who goes after The ridiculous Krug, is alright in my book. Krugman and his ilk get it wrong in a number of ways, and no economist shows up The Krug's folly better than Antal Fekete, who scorches the Nobel Laureate's sophistry repeatedly. The reason Professor Fekete is able to do so is because Krugman conveniently ignores the marginal productivity of debt which, as Professor Fekete goes to some pains to explain, is far more important to the discussion than the aggregate debt.

http://www.professorfekete.com/articles/AEFIsAggregateDebtExcessive.pdf

http://www.professorfekete.com/articles/AEFTheVanishingOfTheGoldBasis.pdf
Aug 12, 2009 at 6:43 AM | Unregistered Commenteredwardo
@edwardo

You've nailed it here. Marginal return is the key, not percentages. For instance, if we were going to grow at 12% per year, then we could take on much more debt than if, say, we are stagnating or contracting. I've read the essay somewhere before and it's a brilliant, simple formulation of the kind of problem that people like Taleb and Denninger and Barry Ritholtz have been making for some time as well. Even mainstream economist Robert Barro says that the Keynesian multiplier might actually be negative! The econ profession is getting a real shake-up. The Krugman's and Bernanke's will be eating humble pie -- though most of us will have to pay for it.
Aug 12, 2009 at 11:27 AM | Unregistered CommenterJames H
sorry, Denninger, BR, et al. have been "describing" the problem, not "making" it(!) ^
Aug 12, 2009 at 11:28 AM | Unregistered CommenterJames H
You got that right. I used to respect Krugman. Back in February he still made sense. Then, after the frontal lebotomy, he became another Keyneisian QUACK. What happened to this guy? Did somebody get to him, or pay him off?

Aside from the 50 trillion in debt (including unfunded entitlement costs) I cite the bailout gap at 140 trillion using simple math on notional derivative claims against mark to market values. Are jobs and incomes growing to strengthen these CDO's? Are property values rising to strengthen the value of securitized loan debt?

I think Barofsky's 23.7 is an an understatement, and my 140 may be a stretch, but does the fact that the DTCC clears the total GDP of the USA every three days raise any flags, or do we all just agree with BIS accounting?
Aug 12, 2009 at 1:24 PM | Unregistered CommenterWil Martindale
@ Edwardo

Very good links, kinda ties back to what I said before on another post about China buying up minerals/ ores, and mining rights globally, better get ready to live on air. Everybody see’s it but “us”. But then, for the “moneyed priests” to get what they are after, America must become a third world nation. And they will control both parties to that end and control the arguments of both parties. None of these men are idiots who spread the false economic gospels, they are telling us what they are paid to.

Our debt crisis and the threat of backwardation will increase as the means to wealth creation continue to be moved out of our nation.

The zeal which begins with hypocrisy must conclude in treachery; at first it deceives, at last it betrays”

Francis Bacon, Sr.


Trickery and treachery are the practices of fools that have not the wits enought to be honest”

Benjamin Franklin


“Authentic treachery is found when we abandon ourselves, becoming deaf to the whispers of our spirits and blind to the powerful potential therein”

Joaquin Mariel Espinosa
Aug 12, 2009 at 1:58 PM | Unregistered CommenterS. Gompers
I would pay big money to see a head-to-head debate between Krugman and someone like Peter Boettke of GMU or historian and libertarian firebrand Thomas Woods. That's the sad thing about economics -- people either think they understand things (when they don't), or they KNOW that they know nothing and leave themselves prey to people like Krugman.
Aug 12, 2009 at 2:14 PM | Unregistered CommenterJames H
Wil,

Explain your computations about the notional values and such. Most of us have probably only a cursory understanding of the notional value of the world's outstanding derivatives. Does your figure come from "netting out" the different sides of the same trade, or something else? Also, obviously there isn't enough GDP in the world to cover 140 Trillion -- isn't there something to say about the actual, expected value of derivatives outstanding in the event of a crisis, or is that already your point? There are very few lay people who have any grasp of what this means for the financial system or in terms of the rationale for the bailouts -- if you can help us understand, we can all be that much more effective in making our case to others.
Aug 12, 2009 at 2:21 PM | Unregistered CommenterJames H
Gompers.

I have been trying to make a similar point...we are wasting borrowed trillions on bank recapitalization and China is quietly buying up the world's resources....we do not stand a chance in teh coming decades.

I posted yesterday a link about their newly attempted $17 billion purchase of Argentina's largest oil company.

http://blogs.wsj.com/environmentalcapital/2009/08/10/chinese-tango-why-does-china-want-to-buy-ypf/
Aug 12, 2009 at 3:00 PM | Registered CommenterDailyBail
James.

Check out our newest clip where Taleb takes a shot at Bernanke and Keynes.

I also think we need some more anti-Keynesian voices out there.
Aug 12, 2009 at 3:02 PM | Registered CommenterDailyBail
Krugman's been a Keynesian quack for as long as I can remember.
Aug 12, 2009 at 3:05 PM | Unregistered CommenterGuest
DO FOLKS SCREAM LIKE ME?I POST ON FINANCIAL/BANKING/OVERSIGHT/WHITEHOUSE WEB SITE....WHY DON'T YOU FOLKS DO IT?

ON THE RECORD AT WHITEHOUSE DOT GOV WEB SITE FOLKS

Mr. President.

WARNING:

If your criminal Financial advisor gang has convinced you to use BILL CLINTON, dotcom wall street BUBBLE ponzi scam weapon, and if you bought into that ponzi scam?

You made a biggest Blunder in Human History and why?

We the working class get no benefit from this PONZI SCAM wall street Stock Bubble,Yes our pensions statement may look fancy for some time but next crash will wipe out our pensions and our homes are already being pushed below construction cost bust hell.And we are just struggling to serve debt and soon we will stop making payments as we have no other choice to put food on the table next...........

A NATION HIJACKED BY "FEDERAL RESERVE BANKERS :HOME GROWN FINANCIAL AL-QAEDA"

Mr. President:

It is you , who has sided with Criminals and stabbed us in the back and our stomach.

ANDREW JACKSON SPIRIT AND ACTIONS were only the Solution but you turned out to be CHICAGO MOB SHILL

I am on the record here Mr. president....Soon you will realize what I roar is HARSH REALITY

Andrew Jackson quotes:
The bold effort the present (central) bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it.
Andrew Jackson quotes:
Every man is equally entitled to protection by law; but when the laws undertake to add… artificial distinctions, to grant titles, gratuities, and exclusive privileges, to make the rich richer and the potent more powerful, the humble members of society -- the farmers, mechanics, and laborers -- who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their government.
Andrew Jackson quotes:
Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.
Andrew Jackson quotes:
The brave man inattentive to his duty, is worth little more to his country than the coward who deserts her in the hour of danger.
Andrew Jackson quotes:
You are a den of vipers and thieves. I intend to rout you out, and by the grace of the Eternal God, will rout you out.
Andrew Jackson quotes:
The Bible is the rock on which our Republic rests.
Andrew Jackson quotes:
If Congress has the right under the Constitution to issue paper money, it was given to be used by themselves, not to be delegated to individuals or corporations.
Andrew Jackson quotes:
It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes.
Andrew Jackson quotes:
As long as our government is administered for the good of the people, and is regulated by their will; as long as it secures to us the rights of persons and of property, liberty of conscience and of the press, it will be worth defending.
Andrew Jackson quotes:
I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country.
Aug 12, 2009 at 3:35 PM | Unregistered CommenterKen
@ DB

Yes, you are correct. It all goes back to the old magic trick of watch the left hand and miss what the right hand did. The fact that they are buying up hard commodities this should be perking up some ears, but everyone is still watching the left hand and the other distractions presented before us.

Many nations are currently buying up global agricultural assets as well.

http://homegrowncolorado.blogspot.com/2008/09/global-scramble-to-own-food-and.html

U.S. agricultural landholdings of foreign owners, by State,
December 31, 1995

State or Foreign-owned State or Foreign-owned State or Foreign-owned
Territory agricultural land Territory agricultural land Territory agricultural land

Acres

Alabama 299,579 Louisiana 682,366 Oklahoma 56,306
Alaska 75 Maine 2,968,434 Oregon 644,143
Arizona 338,653 Maryland 51,260 Pennsylvania 91,769
Arkansas 155,691 Massachusetts 2,029 Puerto Rico 839
California 954,052 Michigan 444,239 Rhode Island 17
Colorado 678,173 Minnesota 221,971 S. Carolina 198,852
Connecticut 881 Mississippi 444,286 S. Dakota 42,957
Delaware 5,878 Missouri 73,354 Tennessee 83,010
Florida 620,559 Montana 474,496 Texas 1,209,677
Georgia 558,953 Nebraska 74,769 Utah 61,013
Hawaii 180,058 Nevada 388,393 Vermont 86,532
Idaho 22,624 New Hampshire 16,477 Virginia 144,284
Illinois 209,549 New Jersey 18,369 Washington 389,777
Indiana 94,395 New Mexico 785,355 W. Virginia 166,974
Iowa 33,105 New York 280,614 Wisconsin 77,890
Kansas 69,490 N. Carolina 153,962 Wyoming 210,983
Kentucky 121,151 N. Dakota 27,839
Ohio 185,935

Total 15,102,037 acres
Source: USDA, ERS, Agricultural Foreign Investment Disclosure Act data.

As you can see, it’s been quietly going on a very long time. We may soon wake up in the nation of plenty to find our money useless, our commodities stripped away from us, and starving as we watch our food get shipped to others more “worthy”.

The “sheeple” must awake from their slumber and assume their rightful place. The majority could rule if the majority would vote. That is the most feared weapon in America.

Educate, educate, educate… before all is lost. And ignore the distractions that the proponents of the bankers manifesto place before us so that we do not see their magic trick.
Aug 12, 2009 at 4:19 PM | Unregistered CommenterS. Gompers
OBAMA=CHICAGO MOB SHILL=Absolutley acting like Hitler

Here are some comments on Town hall meetigs

Out on the health-care firing line, senators and members of Congress continued to get battered by constituents angry over President Barack Obama’s reform plan Wednesday — with voters raising questions about everything from assisted suicide to coverage for illegal immigrants.

Lawmakers insisted over and over that the bills in Congress would cover neither — but their answers did nothing to tamp down the anger from Afton, Iowa, to Hagerstown, Md., to Rocky Mount, N.C.

In Iowa, a self-described “dumb southern Iowa redneck” told Republican Sen. Chuck Grassley, “I see nowhere in the Constitution where health care is a right. ... I want to hear it from Obama, I want to hear it from Pelosi, about how this is about ‘We the people.’“

In Maryland, a town hall by Democratic Sen. Ben Cardin quickly devolved into shouting after one questioner ordered Cardin to “cease and desist” from considering health care legislation. Cardin’s insistence that he was being fiscally responsible — “I’m not going to vote for any bill that adds to the national debt,” Cardin said — did nothing to quiet the crowd.

“That’s your answer?” one man shouted.

“You already did!” said another.

On the outside, opponents of the legislation outnumbered supporters by about a 10-1 ratio. “Obama energized the youth just like Hitler did,” said Barbara Kelly, a substance abuse counselor from Hagerstown. “He’s given the country away to the elitist Obama supporters. They don’t have to answer to anyone!”

In North Carolina, Rep. G.K. Butterfield (D-N.C.) seemed to get a little tired of the frequent interruptions and shouting during a two-hour town hall Wednesday, snapping back at some in the crowd.

"Read it!" one protester shouted. "How do you know I haven't read it?" the North Carolina Democrat fired back, according to the News & Observer.

http://news.yahoo.com/s/politico/20090812/pl_politico/26049
Aug 12, 2009 at 4:56 PM | Unregistered CommenterKen
There is No Recession, This is Planned Financial Demolition
Economics / Credit Crisis 2009
Aug 12, 2009 - 07:23 AM

By: Mike_Whitney



Credit is not flowing. In fact, credit is contracting. That means things aren't getting better; they're getting worse. When credit contracts in a consumer-driven economy, bad things happen. Business investment drops, unemployment soars, earnings plunge, and GDP shrinks. The Fed has spent more than a trillion dollars trying to get consumers to start borrowing again, but without success. The country's credit engines are grinding to a halt.
Bernanke has increased excess reserves in the banking system by $800 billion, but lending is still slow. The banks are hoarding capital in order to deal with the losses from toxic assets, non performing loans, and a $3.5 trillion commercial real estate bubble that's following housing into the toilet. That's why the rate of bank failures is accelerating. 2010 will be even worse; the list is growing. It's a bloodbath.

The standards for conventional loans have gotten tougher while the pool of qualified credit-worthy borrowers has shrunk. That means less credit flowing into the system. The shadow banking system has been hobbled by the freeze in securitization and only provides a trifling portion of the credit needed to grow the economy. Bernanke's initiatives haven't made a bit of difference. Credit continues to shrivel.

The S&P 500 is up 50 percent from its March lows. The financials, retail, materials and industrials are leading the pack. It's a "Green Shoots" Bear market rally fueled by the Fed's Quantitative Easing (QE) which is forcing liquidity into the financial system and lifting equities. The same thing happened during the Great Depression. Stocks surged after 1929. Then the prevailing trend took hold and dragged the Dow down 89 percent from its earlier highs. The S&P's March lows will be tested before the recession is over. Systemwide deleveraging is ongoing. That won't change.

No one is fooled by the fireworks on Wall Street. Consumer confidence continues to plummet. Everyone knows things are bad. Everyone knows the media is lying. Credit is contracting; the economy's life's blood has slowed to a trickle. The economy is headed for a hard landing.

Bernanke has pulled out all the stops. He's lowered interest rates to zero, backstopped the entire financial system with $13 trillion, propped up insolvent financial institutions and monetized $1 trillion in mortgage-backed securities and US sovereign debt. Nothing has worked. Wages are falling, banks are cutting lines of credit, retirement savings have been slashed in half, and home equity losses continue to mount. Living standards can no longer be bandaged together with VISA or Diners Club cards. Household spending has to fit within one's salary. That's why retail, travel, home improvement, luxury items and hotels are all down double-digits. The easy money has dried up.
http://www.marketoracle.co.uk/Article12687.html
Aug 12, 2009 at 5:08 PM | Unregistered CommenterKen
Krugman, you evil, lying, despicable slug, you!

Excellent commentary, DailyBail. Thanks for the great info.
Aug 12, 2009 at 7:02 PM | Unregistered CommenterSonic Ninja Kitty
has anyone thought, or perhaps noticed, that Krugman "changed" following a visit to the White House he had in April ?
Aug 12, 2009 at 7:46 PM | Unregistered Commentertss
HEY WASHINGTON CRIMINAL BLOOD SUCKING PEST CROOKS

Do ya think we don't get it? We do. You criminals have crossed all limits to bust us and make us Perma Slave to DEBT and we are not going to bend over ...we will revolt next

You have tested our will power to bear shear pain but you criminals have now gone deep to send pain into nerves now....

Here is conversation:

(((War on the Middle Class ))
war on poverty is now a war on anyone who owns anything. Hard workers forced to pay fo those who don't. No matter how much is spent it will never be enough. Take schools for instance . cincinnati public schools pays 13300 dollars per year per student. That doesnt include the billion spent on all new buildings. The results are worse than dismal and yet they want more money. Can you imagine what government health care would be like. They won't have to euthanize people, people will volunteer. change you can count on.

Peter Drucker warned about this long ago. Wealthy societies can usually afford to take care of the poor, but once you start giving entitlements to the middle class, society goes bankrupt and collapses.

However, the second assault on the middle class, Peter Drucker was all in favor of and in fact championed - Outsourcing and the "service industry" myth.

Now that real jobs are vanishing while at the same time entitlements are bankrupting our nation, sane people will definitely not want to bring a large family into this world.
And that will bring forth the third and final blow to civilizaion.
A dying population replaced by the Turd World immigrants at an accelerating pace

Its is a war on the middle class by the elite, thats what people dont get. They want a small number of very rich, and poor to serve them, thats all! Theyve almost accomplished their goal wealth-wise, but next comes the population control, they want about 200 million less os us in the country. Here, Ill provide some links direct from the government!
http://birdflu666.wordpress.com/2009/07/26/high-level-bush-financial-insider-says-swine-flu-vaccine-part-of-depopulation-agenda/
http://www.army.mil/usapa/epubs/pdf/r210_35.pdf
People really believe the elitists are working for your stock market gains? AHH HA HA HA HAAAA very rude awakening coming SOON!

They are going to liquidate you. Just like they did the Kulaks. Same perpetrators.

http://www.pushhamburger.com

There is No Recession, This is Planned Financial Demolition

Credit is not flowing. In fact, credit is contracting. That means things aren't getting better; they're getting worse. When credit contracts in a consumer-driven economy, bad things happen. Business investment drops, unemployment soars, earnings plunge, and GDP shrinks. The Fed has spent more than a trillion dollars trying to get consumers to start borrowing again, but without success. The country's credit engines are grinding to a halt.

The executive board of the IMF does not share Wall Street's rosy view of the future, which is why it issued a memo that stated:

"Directors observed that the crisis will have important implications for the role of the United States in the global economy. The U.S. consumer is unlikely to play the role of global “buyer of last resort”— other regions will need to play an increased role in supporting global growth."

The United States will not be the emerge as the center of global demand following the recession. Those days are over. The world is changing and the US role is getting smaller. As US markets become less attractive to foreign exporters, the dollar will lose its position as the world's reserve currency. As goes the dollar, so goes the empire. Want some advice: Learn Mandarin.

http://www.marketoracle.co.uk/Article12687.html
Aug 12, 2009 at 11:06 PM | Unregistered CommenterKen
Good points Gompers. Educate, educate, educate is our plan.

@TSS who wrote:

"has anyone thought, or perhaps noticed, that Krugman "changed" following a visit to the White House he had in April ? "

He was brought in because of his vocal oppostition to PPIP...obama wanted to know why he was so vociferously opposed.

What change have you seen? Always been insane about the stimulus and the debt and yet quite lucid with regard to the bailouts...and that's because there's no adherence to Keynes in bailout issues.
Aug 13, 2009 at 1:10 AM | Registered CommenterDailyBail
@ Ken

The "moneyed priests" make money on the contraction as well as the expansion of the money system. And you are right, it is class warfare, and we are witness to the largest redistribution of the wealth up the ladder to the elite in recent history. All we are is collateral damage.

The service industry will only create increased poverty and joblessness, and decrease the standard of living and tax base.
Our "moneyed priests" have been behind this from the beginning, using their servants in government and business to push America into third world status.

As to learning Mandarin, not much use there, if you are a veteran, educated, land owner, or religious, the communist manifesto already brands you as "dangerous to society", and you will be terminated with extreme prejudice. Since I am in these categories, I am preparing in other ways...

All recession/ depression is highly planned and orchestrated.


"Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men."
John Emerich Edward Dalberg Acton, first Baron Acton (1834–1902)
Aug 13, 2009 at 4:00 PM | Unregistered CommenterS. Gompers
S.Gompers

I agree but some one must rise to extreme injustice and tyranny. My 10tht Master sacrificed his entire family to fight injustice and tyranny. Greed and paper money can not be carried back when one must meet the creator after death. Hell and heaven is here on planet earth and way of life dictates it.

Lincoln said:

When people are scared= Dictatorship

When Politicians are scared=Democracy

POLITICIANS ARE FEW IN NUMBER

& WE THE MASSES CAN SCARE THE SHIT OUT OF THEM........only courage to stand up against Injustice and tyranny is need of the hour............

GROW BALLS..........DON'T BE COWARDS

NON VIOLENT WEAPON FOR REVOLT= DUMP ALL MUTUAL FUNDS AND BUY SHORT TERM TREASURY

AND THAN STOP MAKING ALL PAYMENTS TO BANKER THUGS

WALL STREET WILL CRASH AND BURN=WALL STREET/BANKER/CORP THUGS KILLED WITH THE WEAPON

WASHINGTON BLOOD SUCKING PESTS WILL BE ON THEIR KNEES....


WE DICTATE OUR OWN BAIL OUT...IT IS OUR TAX DOLLARS

LION ....willing to lead and face the first bullett..if need to.........................

UNITE NEIGHBORHOODS AND ACT..............


LET US BRING THE CRIMINAL TERRORISTS DOWN..............

Otherwise accept to be DEBT SLAVES for generations to come

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=8089&tid=421439&mid=421439&tof=-1&rt=1&frt=2&off=1
Aug 13, 2009 at 8:09 PM | Unregistered CommenterKen
I think Paul here just wants Obama to throw him a bone, he wants a seat at the table. Hey, when you don't have talent or ability all that you have left is pull.
Aug 14, 2009 at 8:43 AM | Unregistered Commenterelmas
Well said elmas.

Ken...love the fire and passion, and the message. Good stuff.
Aug 14, 2009 at 3:04 PM | Registered CommenterDailyBail
My Fellow Americans:

This financial system and bust and their is no Fix. We must act now and revolt otherwise soon we will be consumed by civil unrest......................................

http://www.futurefastforward.com

WE ARE THE SLAVES NOW, NOT FLOPPY EARS!

By the year 2000 their were few nations that did not fall into the designs of the money power. The Globalists were ready to start their final phase of World Government take over. The destruction of the Western nations economies. To carry out their final take over. They first remove the banking regulations, like the Glass Steagall Act in the late 1990’s. This allowed their front companies, to give unlimited credit to the world and to set up large fraud schemes. At such a volume the world has never seen. These fraudulent schemes were advertised controlled corporate media as completely legitimate because of the fantastic returns. Private investors, corporations, State and local Government invested heavily. They took the bate hook, line, and sinker. To destroy confidence, Late 2007, bankers themselves began to bad mouth the scams they themselves created. The Central bankers next form of operation on their check list was to cut off the tsunami money that they created to pump up the bubble, the public and the congress refused to write a blank check to bankers began to engage in financial terrorism. They said the world will go into another depression unless their demands were met. Further destroying confidence. The Stock Market has its biggest loss in its history in one day. The publication, Business & Amp Media Institute Wrote “Paulson used scare tactics to force bailout Legislation”. But even that wasn’t enough for Congress to give in to the offshore banks. Oklahoma’s Senator Inhofe, and Congressman Sherman from California, and others, told the nation that the entire Congress was threatened with Marshall Law ( When the Military takes control of the normal administration of justice) by the White House and The National Treasury Dept. If they didn’t pass the Bailout Bill. The final version of the bill was kept confidential from Congress until minutes before the vote. On October 3, 2008, the Federal Reserve promised total transparency, that every dime would be accounted for. In Obama’s speech he said, ” Every Republican and Democrat that opposes this plan, I say step up to the plate, and do whats right for the people of the United States”. “Because time to act is now”. “To prevent the possibility of a crisis turning into a catastrophe”. After the bill passed the public learnt the bad news that the bill was really a financial fraud, a trick by Wall St. It didn’t just give 700 billion dollars to the bank, it was a blank check. And as of February 2009 9.7 trillion dollars has disappeared into thin air. Perhaps this would be a good time to, I don’t know maybe audit the Reserve? Within 24 hours of the Plan being passed Secretary Henry Paulson said ” They were no longer going to use the money to unfreeze the mortgage market by buying bad dept., and that where the money was going was a secret.

"Obama an absolute zero.", say experts!

The main banks of Europe which were started by Adam Wieshalf and Rathchild, The Bank of England, The Bank of Italy. Have all financed messianic ( someone who will bring a complete transformation of existing social order) and war leaders for the past 200 years. Napoleon, Lenin, Stallion, and they backed Hitler, Franklin Roosevelt, and they are backing right now…. ready for this, the Magic Chicago Mob shill, Obama!

Chicago out of money and closed on Monday!

http://cbs2chicago.com/local/Chicago.city.closed.2.1129409.html

Obaaama - Alex Jones animation
http://www.youtube.com/watch?v=DpJCEndWEQU

Hope you like it, bro!
Keep fighting the GOOD fight!
United We Stand, Divided We Fall!!!
Aug 16, 2009 at 10:59 AM | Unregistered CommenterKen
INJUSTICE TYRANNY MUST BE FOUGHT NOW........

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=8089&tid=421439&mid=421439&tof=-1&rt=1&frt=2&off=1



My Fellow Americans

Do you get it now or not?

We the working class (So called Middle Class) Have been scammed by biggest MORTGAGE PONZI SCAM by Federal Reserve Banker Thugs /Walls Street Shills

Also Corporate Crooks have looted our Pensions with Zero Cost Back Dated stock option crimes and shipped our Industrial base & Jobs to Asia.

Federal Reserve Banker Thugs/Wall Street Shills/Corprate Crooks = HOME GROWN FINANCIAL AL QAEDA

Washington= DEMON_RATS & REPO-CONS =Politicians in Washington DC have worked for the HOME GROWN FINANCIAL AL QAEDA .

or this way to understand:

The Washington Criminal Blood Sucking Pests (SENATE & CONGRESS)+PRESIDENTS starting with BILL CLINTON/BUSHES/Now CHICAGO MOB SHILL(OBAMA) have sided with the HOME GROWN FINANCIAL AL QAEDA

My fellow Americans: remember it is our Blood Sweat TAX Dollar Credit card the HOME GROWN FINANCIAL AL Qaeda is using at Zero Percent Interest Rate handed by WASHINGTON CRIMINAL SENATORS * CONGRESS*

And do ya get it now or not?

It is our TAx Blood Sweat dollars and we are being banged and scammed by same criminal crooks with higher Credit card/ fees and Interest rates and thrown out of homes.

And no Criminal got punished but got rewarded by OBAMA(CHICAGO MOB SHILL) + DEMON RATS/REPO-CONS


BIGGEST PONZI SCAM CRIME EVER IN HUMAN HISTORY AND WE USA BAMBOOZLED FUCKS DON't GET IT?

My Fellow Americans;

WASHINGTON CRIMINAL CROOKS ARE CRIMINAL RULERS AND NOT OUR REPRESENTATIVES ANY MORE......................

HARSH REALITY: We are now broke and reeling under debt and are perma working slaves of this HOME GROWN FINANCIAL AL QAEDA

Now we must decide:

Do we want to be Working slaves of this Home Grown Financial Al Qaeda who busted and is rewarded for the crimes?

or

We must revolt now to free our selves from this enforced DEBT Slavery on us by these Criminals?

My Fellow Americans:

I give you my conviction, we must revolt and I provide you all with a NON VIOLENT WEAPON that we must unitedly use now

WEAPON: Dump all Mutual Funds and stocks and buy short term treasury bonds

Stop making all payments to Banker Thugs

this weapon will CRASH THE PONZI SCAM WALL STREET CASINO(EPICENTER OF THE HOME GROWN FINANIAL AL AQEDA)

And Shut the Federal Reserve down.......

LAUNCH NEW PARTY UNDER LEADERSHIP OF DR. RON PAUL and defeat both party criminal blood sucking pests.........

We refuse to honor Nation Debt enforced on us by these criminal Al Qaeda...................

A NEW NATION WILL BE BORN AGAIN ACCORDING TO WISHES OF OUR FOUNDING FATHERS........................

WE ALL WILL BE DEBT FREE................

MY FELLOW AMERICANS:LET US UNLEASH THE REVOLUTION NOW


The Great American Bank Robbery



(From UCLA's Hammer Forum) -- William K. Black, the former litigation director of the Federal Home Loan Bank Board who investigated the Savings and Loan disaster of the 1980s, discusses the latest scandal in which a single bank, IndyMac, lost more money than was lost during the entire Savings and Loan crisis. He will examine the political failure behind this economic disaster, in which not only massive fraud has taken place, but a vast transfer of wealth from the poor and middle class continues as the federal government bails out the seemingly reckless, if not the criminal. Black teaches economics and law at the University of Missouri, Kansas City and is the author of The Best Way to Rob a Bank Is to Own One. (Run Time: 1 hour, 38 min.)

http://neweconomicperspectives.blogspot.com/2009/08/great-american-bank-robbery.html
Aug 20, 2009 at 2:07 PM | Unregistered CommenterKen
What do you expect from a snob from and Ivy League School like Princeton? This guy has been pounding us into a Kenseyan dream or Utopia for a long, long time. If he keeps on Geitners shirt tails, hopefully he will get prosecuted with everyone else when this adminstration comes to an end in 2012. The Fed should be the one who has constraints put on it and people like Krugman should be on the street, suffering with the rest of us. Princeton was a much better University and Town when it wasn't full of liberals and socialists. This is why I moved away. I am truly ashamed of my place of birth, and I hope for its return to normalcy when this crap blows over.
Aug 26, 2009 at 4:39 AM | Unregistered CommenterRob Weiss
Barack Obama will be a one term President. People have caught on to his phony "I'm for you theme song" while taking vacations, making smartass comments about the border and not being transparent with the American people.





1. The "gig is up" for Barack & Michelle Obama. Finally the people have had enough. They have been exposed and the voters can see through the inaccurate facade these two are portraying.
http://canadafreepress.com/index.php/article/36428

2. How can you support Obama in good conscience? http://www.sodahead.com/united-states/does-it-boggle-your-mind-thinking-about-how-many-liberals-can-in-good-conscience-still-back-obama/question-1794163/
May 14, 2011 at 10:55 AM | Unregistered CommenterTaterSalad
Definition of a typical libtard:

"The principal feature of American lib-tardism is sanctimoniousness. By loudly denouncing all bad things–war and hunger and date rape–liberals testify to their own terrific goodness. More important, they promote themselves to membership in a self-selecting elite of those who care deeply about such things... It's a kind of natural aristocracy, and the wonderful thing about this aristocracy is that you don't have to be brave, smart, strong, or even lucky to join it, you just have to be libtard."

- P. J. O'Rourke:




Here is your typical liberal, Barack Obama supporter:


1. http://noiri.blogspot.com/2011/02/how-obama-got-elected-by-these-voters.html

.........and then we have this:

2. http://il.youtube.com/watch?v=4zRbe3kv70A


3. http://weaselzippers.us/2011/03/02/video-leftist-wisconsin-protesters-cant-explain-what-theyre-fighting-against/

This is why the country is in the mess we are in. These are the typical people who support and vote for Democrats. Why do they vote this way. A simple answer of one word: "Entitlements". The Party of Free!

4. http://noiri.blogspot.com/2010/08/how-and-why-obama-got-elected-idiot.html


5. http://dailybail.com/home/meet-chairman-bernankes-replacement-happy-hour-in-santa-cruz.html




6. ..............and then we have this typical moonbat liberal, Joy Behar: http://weaselzippers.us/2011/03/16/lefty-loon-joy-behar-im-sure-the-people-in-concentration-camps-made-jokes-about-each-other-and-the-nazis/#comment-86451



7. At $174,000.00 per year plus expenses, Linda Sanchez (D), California just can't make it from week to week! Pathetic!
http://www.ihatethemedia.com/congresswoman-linda-sanchez-demands-her-paycheck-during-shutdown?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ihatethemedia+%28I+Hate+the+Media%29&utm_content=My+Yahoo



8. Now we have your typical liberal/Democratic Congresswoman: http://therealrevo.com/blog/?p=43579


9. Twelve (12) reasons why people voted for a Democrat in the past:

http://visiontoamerica.org/story/top-12-reasons-why-your-friends-may-have-voted-for-a-democrat.html

10. Wisconsin capital, Tea Party, 4/15/2011 where left wing trash show their true selfs and the lowest form of morals and principals.
http://weaselzippers.us/2011/04/16/new-civility-leftists-protesting-tea-party-rally-i-wipe-my-ass-with-the-american-flag/

11. The liberal, Democratic Party, known as the Party of Food Stamps has now entered a new "low" in morality and here is why:

http://weaselzippers.us/2011/04/20/liberals-hit-new-low-keep-digging-attack-paul-ryan-because-his-father-died-young-resulting-in-survivor-benefits/

12. http://therealrevo.com/blog/?p=43998

13. http://weaselzippers.us/2011/04/20/liberals-hit-new-low-keep-digging-attack-paul-ryan-because-his-father-died-young-resulting-in-survivor-benefits/

14. "If we can't get our entitlements from the government, then we will steal them"! http://www.theblaze.com/stories/flash-mobs-of-bandits-and-looter-in-d-c-yes/

15. Here are e-mails of your typical left wing liberal Obama supporters who hate people of other political beliefs while they are suffering from the tornadoes. How low-life can these people get?
http://weaselzippers.us/2011/04/29/wapo-commenters-bashing-tornado-victims-gods-wrath-for-the-christian-right-teabaggers-gop/

16. Patriotism is the last ditch effort/refuge used by the liberal, Democratic Party, better know as the "Party of Food Stamps".
http://sultanknish.blogspot.com/2011/05/patriotism-is-last-refuge-of-liberal.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+FromNyToIsraelSultanRevealsTheStoriesBehindTheNews+%28from+NY+to+Israel+Sultan+Reveals+The+Stories+Behind+the+News%29&utm_content=My+Yahoo
May 15, 2011 at 6:06 PM | Unregistered CommenterTaterSalad

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