Paul Krugman - Obama is a Mistake

Have you read the reviews on Krugman's new book yet? http://www.amazon.com/gp/product/B004J8HXGS/ref=as_li_ss_tl?ie=UTF8&tag=t...

The public is ripe for a populist program, and race is a diminished significance. If you were to design a program to ensure you don't win, you would run a black man. Health care is essential, so you would want someone weak on health care. Clearly this man is an eloquent speaker. But his election puts the Democrats in a much weaker person than a standard Democrat. There is a very bad feeling about Obama. This is tempting fate, and the Democrats have chosen a path that minimize the advantages that they have.

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• Paul Krugman
• Princeton
• Ben Bernanke
• Obama
• liberal
• conscience of a liberal
• economist
• nobel prize
• Investing
• Treasuries
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• Silver
• Dollar
• Federal Reserve
• inflation
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• george soros
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• marc faber
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• democrats

[fountainherz]

@TheMadCrumpet

"Even the World Bank cheif is calling for a global gold standard."

A pure gold standard or for it to be held in reserves as people trade IOUs/certificates representing gold amounts around? Because if it's the latter than presumably fiat will emerge again, as people were comfortable swapping certificates around.

[NolanBrooks22694]

@TheMadCrumpet Yeah, I kind of lost all of my interest in continuing what I thought was an intellectual debate when I was addressed as a "fucking shit."

[aviomaster]

RICH will be richer , poor will get poorer.

AS in the sky when voltage potentials in clouds and earth get wider lighting strike.

[jimdc75]

@NolanBrooks22694 It's not impossible. I think people have this idea of bringing it back down to 35 and ounce, which would be absurd. But fixing it at let's say 2000 per ounce, which is far more realistic, would work quite nicely.

[TheMadCrumpet]

@NolanBrooks22694 Oh, and I don't think these idiots who run the Fed should be taken seriously.. They were laughing in 2006 at the perspective of a housing bubble.. Read the transcripts.. Krugman is a dumbass aswell.. Krugman suggested lower interest rates in 2001 to stimulate the housing market... LOL. Now we have lower interest rates to stimulate everything. I can't wait to see how this bubble plays out. I just hope I am not holding a Long on the USD when that happens =/

[TheMadCrumpet]

@NolanBrooks22694 I don't see where you get that? Even the World Bank cheif is calling for a global gold standard. The dollar will fail if we don't cut this shit out. I would much rather accept a soverign constitutional currency over the Global Currency that is on the drawing board right now.

I trade spot currencies for a living, so I'm not a total dolt on this subject. I, like most currency traders, don't give a hoot about fundamentals when trading. Its all about technicals.

[TheMadCrumpet]

@NolanBrooks22694 Do you not see that as a problem? Is this acceptable to you? When the Banks and institutions that make up the Fed get a 16.2 trillion dollar bailout does that not create a moral hazard? The fact is, the gold standard was implemendet to prevent politicians from doing all this bullshit. Would we be in Iraq and Afghanistan if we had to honestly fund them? Would we have a huge social welfare state if the Fed wasn't always in the corner, eager to type up money?

[TheMadCrumpet]

@NolanBrooks22694 Listen you fucking shit. The Constitution is the Rule of law. If you want to totally disregard what has contributed to the Success of this nation then go start a revolution. Just because you don't agree with it doesn't mean you can ignore it. It is de jure. The law. Once you ignore the law and set up all this de facto bullshit, who will be accountable to anything? The constitution provides an amendment process if you want to "update it". You can't ignore it.

[TheMadCrumpet]

@NolanBrooks22694 The creation of money should be in the hands of the people. Congress is granted the authority to coin money in Article 1 Secion 8... The congress is accountable to the people. I didn't get to vote for the chairman of the Fed. Do you honestly think we would be blowing so much money if the politicians had to be accountable to the people in regards to money? If the Fed wasn't their to facilitate the spending, they would be forced to directly raise taxes.

[NolanBrooks22694]

@TheMadCrumpet The debt doesn't dictate that we'll have such high interest rates. The reason that the debt is so high is to allow for spending now that has the potential to improve our current economy and promote long run growth. No body thinks we can continue to spend much longer, even with debate raging over austerity measures. But there are those who hold the doom and gloom perspective, and those who remember that, historically, our highest debt was followed by our biggest boom