Paul Krugman wins the Nobel Prize, the U.S. and Europe partially nationalize their banking systems… and the markets soar. Can anybody seriously argue that the era of free market radicalism isn’t over?
Le Roi est mort. Vive le Roi!
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Didn’t Al Gore win a nobel prize? I think the prestige and honor of the nobel prize is dead. It now ranks up there with Trumps beauty pageants.
Sold the rest of my NOV @ $34.25 and Apple @ $114.95.
Still holding 2,000 shares of Wells Fargo.
While you KLOWNS bitch about how bad it is, I have shown you a roadmap to properity. Yet you all seem to ignore the advice because you are either incapable of multi-tasking while bitching about Bush…or you are too cowardly to put your mesely assets at risk.
If you have noticed, I generally buy after a series of big dips (called oversold market) and sell into rally’s.
How hard is that for you self-proclaimed Progressive Intellectuals to understand???
Now you KLOWNS are soooooooo overwhelmed with envy that you accuse me of lying. Funny.
I believe there will be some real rallies after the election…no matter who wins. The market has already discounted the O-blah-blah wins impact. This is part of the reason the market tanked. HOWEVER, the market does not like uncertainty. After the election, no matter who wins, you will see a rally where the market finishes higher before year-end.
I plan, once again, to put my $$ where my mouth is.
I would not buy anything today.
Goldy–
Why no stories about sleeze-ball Rep. Tim Mahoney (DEMOCRAT–Florida):
This was released by AP—–
At least milton doesn’t have to watch the country crash and burn if obama steals the election.
Interesting video, when talking to a plumber Obama admits he wants to “spread the wealth around”
Socialism is only a few thousand fraudulent votes away.
No wonder the democrats are against ID to vote.
3 – It could be worse. It could have been a Republican sex scandal, which would likely not have been between a man and a woman. You know, like a US Senator trolling for strange cock in airport mens rooms or Congressmen chasing after young boys.
Cynical can’t defend Friedman economics, so he changes the subject. How surprising.
Defend pure unfettered free markets. Come on… try! And tell us why taking ownership stakes in our largest banks isn’t the proper course of action during this crisis? Explain why we should just allow these banks to collapse, as the market might dictate, or why we should just prop them up with taxpayer money by buying their worthless loans?
This posted but is not showing up. Let me try again.
What’s so wrong with some socialism? Given a choice between Denmark and Sweden, some socialism, or Columbia and Nicaragua, little socialism. I’d take Denmark.
What country is your ideal for the US should deal with wealth and the economy?
It’s so interesting that it seems the Treasury Department is taking equity stakes in some banks as well.
This is “Sooosheeeeaaalism” wingnuts.
Or is the favorite kind of “capitalism” that Republicans love while Limbaugh-lovers look the other way?
Socialize the costs, privatize the profits.
@ 4 What are you talking about? Bush and Paulson are now the true socialists. The US just partially nationalized 9 of our biggest banks.
http://www.washingtonpost.com/.....id=topnews
From what I’ve read, Denmark is blending a regulated capitalism and socialism pretty well. The only thing the Heritage Foundation hates about Denmark is
It’s really hilarious that the chimp administration couldn’t accept conditions suggested by the Congress on this bailout. No way, no how is that chimp going to work with that Congress on this bailout. Just vote yes and let me do things my way, says the monkey gang.
So who’s forcing their hand on nationalizing the banks?
The other “socialist” countries some of whom are in similar hot water and maybe perhaps some of our creditors who have to get the money from anyhow?
You know socialist countries like China and Japan?
Take that Limbaugh loving wingnuts! Your chimp is taking orders from socialists.
Why couldn’t they just let the “free market” take its course. It’s simple. Then all our banks would be owned by Arabs, Europeans and Asians.
And all you greedy Limbaugh lovers would be taking orders from them!
blue john–
Idea!
Why don’t you move to Denmark??
They previously had huge problems because “a little socialism” doesn’t know where to stop. Eventually you have way too many lazy asses relying on others to pay for their existence. Denmark was no different. They ended up electing a bunch of Conservatives to clean up the “little bit of Socialism” that grew like the Blob (remember that old moving…they finally stopped it by freezing it with liquid nitrogen or something like that).
Socialism is a creeping crude that eventually leads to 49.3% of the people feeling overtaxed…thus electing Conservatives.
FEELING OVERTAXED is the key issue for political change. That’s why O-blah-blah will fail if elected.
Exactly! A scandal that involves a man and a consenting adult woman. What a breath of fresh air!
http://www.republicanoffenders.com/Pedophiles.html
12 – Uhmm Mr. Stupid?
Denmark cut their corporate tax rate. Other Scandinavian countries have done so as well when it suited their interest.
Denmark is rated one of the happiest places to live if not the happiest.
So yeah, when OUR government delivers services that the market fails to deliver, people are generally happier.
NOT a miserable SOB like you.
YLB–
Denmark’s Tax-GDP was an astronomical 49.7% in 2004. The high-end marginal tax rate is 63%.
It’s starting to cave in on Denmark in the form of labor shortages due to high taxes.
Google Denmark and Tax Rates to see what is going on.
YLB, you paint Denmark as some type of Utopia. It’s not. They are starting to feel the consequences of high tax rates now.
There will be a revolution there too.
And YLB, I’m one of the happiest guys God ever created. I don’t take also this banter seriously.
Your problem is you do…so seriously that you fail to take advantage of the many investment opportunities right at your fingertips.
I know plenty of folks who live to bitch. Some of them got caught by the stock market collapse because they were too obsessed with hating Bush or O-blah-blah. They feel asleep at the wheel. A conservative friend of mine saw his retirement account drop from over $3 million to right around $2 million….while he was obsessed with the evils of O-blah-blah.
It takes balance & perspective YLB…something the KLOWNS on this Blog seriously lack.
YLB–
The other problem you LEFTY’s have is you often let you ideology get in the way of decent investment opportunities. Only Roger Rabbit is capable of buying oil stocks and other greedy capitalistic securities.
You LEFTIST PINHEADS get sucked in by like-minded losers such as:
Starbucks–has dropped from 26 down to 10
Jones Soda–dropped from 11.95 down to 70 cents!
They are both touted as “Progressive” company’s. They wear their progressiveness on their sleeves..to the point that conservatives will not buy their $3-4 fancy coffees or overpriced dogshit soda.
They are “progressive” all right…if you call a progressively DROPPING stock price progressive.
Krugman getting the Nobel prize isn’t even half the story. The proximate cause of our current financial crisis is pure monetarism. Friedman’s most vociferous criticism of the Fed’s actions during the Great Depression is that the Fed didn’t grow the money supply fast enough.
Yet, as Bary Ritholz clearly points out, our present crisis was triggered by the Fed attempting to grow the economy by lowering the Federal Funds rate to unprecedented low levels (below 2%).
Now, we have a Republican administration buying up stakes in banks, and we have wingnuts still equating “socialism” with tax-based redistributions of income. The pure ignorance and idiocy of our resident wingnuts is astounding (and, yes, I’m looking at you Cynical–as well as Puddy and Marvin and Politically Incorrect–you guys are astounding clueless about all of this).
We’re way beyond redistributing income via tax and spend policies. The fundamental cause of our economic troubles is the fact that real wages have fallen over the past quarter century. This is the fundamental circumstance that led Alan Greenspan to try to grow the economy by lowering the Federal Funds rate to unprecedented levels.
We need policies that foster growth in real wages: e.g. tax incentives for firms to locate manufacturing here rather than tax incentives that reward firms for shipping jobs overseas. We export raw materials, for Pete’s sake!
We need infrastructure investments, and investments in new energy sources. What we don’t need is yet another round of tax breaks for people who already make boatloads of money and haven’t been putting their money into actual ongoing enterprises for more than 25 years.
But, do the wingnuts get any of this? No. They cling to this out-dated notion that liberals are only interested in raising everyone’s taxes. They can’t distinguish between “more government” and “better governance.” They’ve become experts at arguing against creatures made entirely of straw. Like Nero, they fiddle away in their stupidity while society burns to the ground all around us.
And it’s not just raising taxes for the sake of raising taxes.
It’s raising taxes to pay for the services that fierce individualism cannot provide, needed services that corporations cannot make a profit on, and pay off the debts that unregulated capitalism and unneeded invasion and nation building racked up.
I know it’s petty but
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ahhh, something that is important…..
Ok conservatives, what are a couple of other countries that are doing it right? That have a proper balances of taxes and social programs? What is the example that you hold up that we should be moving to?
Notice how they NEVER answer this…..
DOW 4:04PM ET Change: Down 76.62 (0.82%)
@3 “Why no stories about sleeze-ball Rep. Tim Mahoney”
Perhaps because, unlike you strange fucks, he stayed with his own species, and with a consenting adult no less.
http://www.newshounds.us/2005/.....htwing.php
“Baaa” means no, you freak.
http://buttons.cafepress.com/i...../209341556
Paul Krugman was in bed with Enron
Cyn, if I had any money to invest, I wouldn’t give a flying fuck about the personal politics of X company’s CEO, their environmental impact, or anything like that. There is no morality in the stock market, that’s abundantly, ridiculously clear for all to see. All that would matter to me personally is long-term stability and profitability. That, and whether or not I actually like and use their product. I kinda like Chipotle Mexican Grill (CMG), though I haven’t kept current on how that stock is performing. They’ve probably done just as badly as everyone else. Excellent product, and until recent events, my wife and I had been seriously considering acquiring the financing necessary to buy franchise rights for the Reno-Sparks-Carson City area.
Why does everyone keep talking about “free market capitalism” being dead, anyway? The deregulated, massively consolidated, all-but-completely opaque financial industry fails in virtually every respect to qualify as “capitalism.” (PLEASE go back and read your Adam Smith.) IT IS MONOPOLISM, pure and simple. The only cure for out-of-control monopolism is the intervention of government(s) more powerful than the monopoly(s) — or mass insurrection by the screwed. For better or worse, the former is what’s going on right now. This is NOT the death of capitalism, nor is it in any way socialism. It is a massive transfer of future wealth from the poor and middle classes to the wealthy, with only minimal regulation or guarantee of return, without a kiss or the benefit of personal lubricant and tissues.
A purpose of government is to protect the individual from large entities when “fierce individualism” is not enough.
Most individuals cannot stop an invading army, an out of control corporation, ecological damage, or unfair or unsafe trade. It takes the collective mass of the government to combat very large and systemic entities.
Conservatives, where am I wrong?
blue john, of COURSE you’re wrong, dear, because you think right makes might. Everyone KNOWS it’s the other way around, and corporations are persons, and money is speech. You must be a — **EEEK! HORRORS!!** — TAX-AND-SPEND LIBERAL.