Monday, March 30, 2020

RE FERGUSON ON KRUGMAN

Thursday, June 27, 2019

RE KRUGMAN WANKISH ECONOMISTS RUNNING WARREN'S WONKISH PLANS

Krugman, wearing only his domestic economy beanie (He can keep his hat on.), preaching wonkishly mainly to his wanker liberal economist audience backing Warren.

A common misconception is that various economists, any of them really, are only wrong, if ever wrong, only sometimes, and about only one thing, here or there.

This is an important misconception:

Economists are always, and have always, normally, been wrong about everything in one way or in multiple ways at the same time.

FERGUSON ACCUSES KRUGMAN OF KRUGMAN'S EPITHET DERPING

Friday, February 15, 2019

KRUGMAN ADMITS HE IS SOMETIMES WRONG BUT TRUMP'S MORONS KUDLOW AND HASSETT ALWAYS WRONG

Here's one of my classic posts on the subject of just how many economists somehow have been or are now or will be wrong.

This post is dedicated to Boomerbutt Bubbleheads:

Saturday, February 24, 2018

THEY LOVE THE FATAL ECONOMIST TAR BABY POST WHY NOT GIVE EM ANOTHER! BOOMERBUTT

Terms search: flatly wrong

A common misconception is that various economists, any of them really, are only wrong, if ever wrong, only sometimes, and about only one thing, here or there.

This is an important misconception:

Economists are always, and have always, normally, been wrong about everything in one way or in multiple ways at the same time.

Here is only a small non exhaustive list of subjects all economists are normally, at best, wrong about:

Laissez faire, wrong, tariffs, wrong, mercantilism, wrong, government spending, wrong, government not spending, wrong, capitalism, wrong, free trade, wrong, equilibrium, wrong, marginal utility, wrong, supply demand, wrong, monetary policy, wrong, gold or bi metallic standard on it or off it, wrong, comparative advantage, wrong, fiat currency, wrong, central banking policy, wrong, government debt, wrong, private debt, wrong, MFN, wrong, foreign aid, wrong, the Fed, wrong, USAID, wrong, spending stimulus, wrong, taxes, wrong, investment policy, wrong, mathematical and or geometrical models of any kind or description, wrong, micro economics, wrong, macro economics, wrong, international economics, wrong, competitiveness, wrong, wars, wrong, managed trade, wrong, preferences, wrong, subsidies, wrong, sanctions, wrong, lifting sanctions, wrong, peace, wrong, picking winners, wrong, offshoring, wrong, globalization, wrong, inflation, wrong, deflation, wrong, stagnation, wrong, convergence, wrong, industrialization, wrong, deindustrialization, wrong, elasticities of all kinds, wrong, protectionism of any kind, wrong, regionalism, wrong, LIEO, wrong, WTO, wrong, WB, wrong, IMF, wrong, EU, wrong, NAFTA, wrong, EXIMBANK, wrong, Bretton Woods, wrong, WWI reparations, wrong, GATT, wrong, Smoot Hawley, wrong, economic crises of any kind, wrong, definition of an economy of any kind, wrong, service economy, wrong, skills analysis eg symbolic analysts driven economies, wrong, Great Depression, wrong, competitive advantage, wrong, economic nationalism, wrong, comparative advantage, wrong, interest rates, wrong, multilateralism, wrong, isolationism, wrong, divorce of economics from politics, wrong, greatest good for the greatest numbers, wrong, redistribution, wrong.

The Japanese totally kicked your fucking industrial and technological butt, long before the other Asians, finally, including the Chinese, even got started on finishing you off, after you pivoted your big dumb Boomerbutt in various other economic directions in Asia,

and your economists all have more or less said, all along, since the 50s, nothing out of the ordinary, business as usual, shift to service economy, nothing to worry about, offshoring is fine, smooth sailing toward full plentiful globalization ahead, nice pivot move...

Terms search: pivot

For all my sudden French guests, why not dedicate this great post, now, to one of their favorite sons: Thomas Piketty!

Terms search: offshoring economists

FERGUSON ON KRUGMAN

He criticizes Krugman's lack of civility.

I sympathize with Ferguson, but here is what I wrote here on civility and dignity:

Monday, March 30, 2020

Postmodernism 103

WITHOUT DIGNITY CIVILITY LOSES ITS WHOLE BASIS

You can kid yourself. Engage in Pundit Fallacies out the wazoo.

Democratic civility is grounded in shifting sand.

Amherst Common Language Guide civility is faux civility and the absence of dignity.

This post is dedicated to David Brooks.

DIGNITY

Tuesday, March 12, 2019

NYT LIBERACE LEONHARDT THE CONCEPT OF DIGNITY SPERLING ECONOMIC DIGNITY FALLACY

A pauper in the Old European Order had more dignity than our billionaires.

Long story.

Democratic Dignity is an oxymoron.

Those who believe in it are, as Krugman says, economic morons. Econorons. Economorons.

Or just plain Rons!

Reagan was a Ron!

The average democratized global annual income is 300 or 400 dollars.

Try acting dignified, in Africa, or India, on that.

Google Terms search: Liberace Leonhardt

Terms search: pivot

GREAT STUFF BRING ON THE VIRUS

Coronavirus: Has the virus brought borders back to Europe?

DAVID REICH NEXT QUESTION NICHOLAS WADE FOIBLES 11

This is what genetic research is going to find:

Wade talks about genetic human socialities, a genetic basis transformed over time by natural selection, for human social behaviors.

Reich talks about significant cognitive and behavioral trait differences between populations which also have other racial genetic differences as well.

I am going to go out on a limb here. By the way: This is huge.

Not only cognitive and behavioral traits, and isolated social behaviors, but also whole moralities, and to some extent the structures of religions, will very soon be found to have some genetic components, true or false?

Civilizations are distinguishable by distinctive types of moralities and religions which have in part genetic origins and not merely acquired ones.

1840S EUROPEAN REVOLUTIONARIES IN PARIS THE WHITES OF THEIR EYES

See also, re 19th C, Slavery in Romania, Wikipedia

DAVID REICH NEXT QUESTION NICHOLAS WADE FOIBLES 10

POLITICAL INSTABILITY IS A DRIVER OF NATURAL SELECTION IN GENETIC SOCIAL BEHAVIOR

POLITICAL STABILITY IS A DRIVER OF NATURAL SELECTION IN GENETIC SOCIAL BEHAVIOR

One among many questions is: Is political instability always, or normally, or only occasionally, a negative, or a positive, natural selection genetic driver?

Is weak self deprecating Western liberal social behavior both self fulfilling, and natural selection self selecting, since at least, if not before, say, 1776, and then also 1789?

Frankly: Why not start with October 31, 1517?

GOLLAPSE

Thursday, June 30, 2011

GOLLAPSE RE NEW INVESTMENT STRATEGY: PREPARING FOR END TIMES NYT EDITORIAL TODAY

Gollapse is indeed coming:

the collapse, in dribs and drabs, of globalist laissez faire ideology.

Postmodernism 103

WITHOUT DIGNITY CIVILITY LOSES ITS WHOLE BASIS

You can kid yourself. Engage in Pundit Fallacies out the wazoo.

Democratic civility is grounded in shifting sand.

Amherst Common Language Guide civility is faux civility and the absence of dignity.

This post is dedicated to David Brooks.

DIGNITY

Tuesday, March 12, 2019

NYT LIBERACE LEONHARDT THE CONCEPT OF DIGNITY SPERLING ECONOMIC DIGNITY FALLACY

Terms search: pivot

KRUGMAN'S ALWAYS WRONG CLUB HE'S IN IT FERGUSON WOULD AGREE WITH ME

Monday, March 11, 2019

KRUGMAN TO LIBERACE NO WORRIES SMOOTH SAILING

Saturday, February 24, 2018

THEY LOVE THE FATAL ECONOMIST TAR BABY POST WHY NOT GIVE EM ANOTHER! BOOMERBUTT

Terms search: flatly wrong

A common misconception is that various economists, any of them really, are only wrong, if ever wrong, only sometimes, and about only one thing, here or there.

This is an important misconception:

Economists are always, and have always, normally, been wrong about everything in one way or in multiple ways at the same time.

Here is only a small non exhaustive list of subjects all economists are normally, at best, wrong about:

For all my sudden French guests, why not dedicate this great post, now, to one of their favorite sons: Thomas Piketty!

MARKET ANOTHER DEAD CAT BOUNCE

Lotta dead cats, on the way down.

Sunday, March 29, 2020

DAVID REICH NEXT QUESTION NICHOLAS WADE FOIBLES 9

Nicholas Wade: "Race is a perfectly good English word." Reich, p. 253

I go with Wade here, and if you read Reich closely, especially at places like p 258, his conclusions there come to the same linguistic result as Wade's:

IF SUBSTANTIAL DIFFERENCES IN COGNITION AND SOCIAL BEHAVIOR BETWEEN POPULATIONS, NOT JUST SUCH THINGS AS HEIGHT, SKIN COLOR, PHYSIOGNOMY, BUILD, ETC, AREN'T RACIAL, THEN WHAT ARE THEY?

You can adopt Paabo's distinction among so called clines, but Paabo knows, and Reich knows, that it doesn't wash.

FUCK JONES AND CAVETT QUINN A MEXICAN OF COLOR ALSO PLAYED A GREEK SO WHAT

THEY LOVE THIS A NEGRO NEVER PLAYED OTHELLO UNTIL 19TH C IRA ALDRIDGE

Saturday, April 13, 2019

JAMES EARL JONES ANTHONY QUINN BULLSHIT RACE CONTROVERSY CAVETT

Jones played the race card on Quinn, re Quinn portraying
Haitian Emperor, Henry Christophe.
Dick move.

Cavett egged him on.

Prig Cavett. Or Cavett Prig. Whichever you prefer.

THE WEST SHOULD HAVE KEPT ITS EMPIRES PROTECTORATES COLONIALISM RATHER THAN PROMOTE KRUGMANESQUE LEFT GLOBALIZATION

You can quote me.

Boomerbuster

Saturday, March 28, 2020

Saturday, December 25, 2010

RE CHINA DEFENDS ITS TRADE ROLE IN AFRICA BBC

Shape of some really big things to come.

Get ready.

LOCK THEM DOWN THERE WHY LET THEM DRAG THEIR ASSES DOWN HERE

"They're having problems down in Florida. A lot of New Yorkers are going down. We don't want that," he said.

What did New York's governor say?

New York Governor Andrew Cuomo responded by saying that quarantining the state of New York would be "preposterous" and "anti-American".

"If you said we were geographically restricted from leaving, that would be a lockdown."

Just think of New Yorkers as 1859 escaped Florida negro slaves with bubonic plague.

Would you want back in Florida?
No. You would blockade New York from sending them back.
New York will say they are your infected slaves.
You will say "They are now New Yorkers, free at last!"

People who test positive, no crossing state lines.
People who haven't been tested, no crossing state lines.
The New Federalism.

The Dominion of New England made a lot of sense but was rejected by the colonies. Regional entities made more sense, and now make good sense, especially as Trump wants to lock down or quarantine portions of several states in New England (a now almost meaningless term, but still a strong term of opprobrium among such as those who follow the postmodern ideology of The Amherst Common Language Guide).
Wikipedia, The Dominion of New England

KRUGMAN FAVORED LEFT GLOBALIZATION WHO IS THE MORON?

THERE WILL BE NO SOFT LANDING FOR GLOBALIZATION

Tuesday, April 24, 2018

FERGUSON'S EXPLANATION 2006 GUARDIAN FOR WHAT I HAD DESCRIBED REALLY IS CONVERGENCE

"Anti-monetarists point out that the relationship between monetary growth and inflation has simply broken down. Inflation is low nearly everywhere. The latest figure for the annual growth in American core consumer prices is just 2.3 per cent, down from 3.8 per cent in May. Yet the annual growth rate of M3, which diehard monetarists have continued to track unofficially, is just under 10 per cent. Last year, according to the IMF, M2 increased by nearly 13 per cent in the UK. In some emerging markets the figure was higher. Russia's money supply grew 25 per cent.

Yet simply because consumer price inflation has remained low, money has not become irrelevant. On the contrary: it is the key to understanding the world economy today. For there is nothing in Friedman's work that states that monetary expansion is always and everywhere a consumer price phenomenon.

In our time, unlike in the 1970s, oil price pressures have been countered by the entry of low-cost Asian labour into the global workforce. Not only are the things Asians make cheap and getting cheaper, competition from Asia also means that Western labour has lost the bargaining power it had 30 years ago. Stuff is cheap. Wages are pretty flat.

As a result, monetary expansion in our time does not translate into significantly higher prices in shopping malls. We don't expect it to. Rather, it translates into significantly higher prices for capital assets, particularly real estate and equities. The people who find it easiest to borrow money these days are hedge funds and private equity firms. Through leveraged buy outs, the latter can easily acquire companies and, by improving their cashflow, boost their valuations. These guys then buy houses in Chelsea with the millions they make." NF 2006, apparently...

Even a blind squirrel, Ferguson, can occasionally find a nut!

"Thursday, August 19, 2010

INFLATION AND DEFLATION BOTH ECONOMIST RED HERRINGS

I should point out,

that, when you are gradually, inch by monthly inch, slowly, annually, becoming a third world economy, trading down, down, to cheaper and cheaper produced goods, to the bottom;

reducing prices, down, down, to cheaper and cheaper priced goods,

to the bottom, you tend,

almost by inertia,

to steer a path, because you have to,

between little blips of inflation, or deflation,

sort of looking for a daily, weekly, monthly, yearly, perpetual 'soft landing',

at the 'greatest good for the greatest numbers' airfield (let's not call it an airport).

That is what the US 'economy' if one can speak about such a thing, has been doing.

That is why we haven't had much 'overt' inflation, because we have been buying, and producing offshore more cheaply, goods made offshore.

That also is why we haven't had deflation, because their offshore costs were less, for a little while, and printing fiat money to buy them, so long as the money is accepted, wards off symptoms of deflation.

Keeping prices, and wages, gradually 'trickling down' (a different idiom: UNPROSPERITY TRICKLING DOWN) more or less together,

WHERE'S THE BEEF?

Krugman has put his finger on it, domestic jobs, that is the 'sticky wicket' in the whole sordid process, inasmuch as more and more work, of whatever kind, goes offshore, there remain fewer jobs, of any kind, to fund purchase of those cheaper offshore goods.

The other aspect of the situation, re currencies, aside from inflation/deflation, is that these producing countries have begun to realize that US currency is really backed by nothing anymore, no productivity, no specie, nothing.

One takes it, as a medium of exchange, largely hoping to prop up temporarily (self interest) the stultifera navis, and/or to get something of real value from third parties (the old eurodollar situation now globalized).

The Bretton Woods system, flawed from the outset, gold standard even abandoned by US in '71-72(?), a prescription for market sloth, and manipulations of all kinds.

It is not that complicated, really."