Jonsey wrote:
John, Merry Christmas (God forbid, I
should say Happy Holidays or Sarah P might have a heart attack). In
your article, you forgot one thing: Paul Krugman won a Nobel prize for
economics and you didn't. He is one smart gentleman. Do have a glorious
Christmas and may your heart be softened may you speak of and about the
President. Happy Christmas Eve. Maybe I'll say a prayer for you at
Midnight Mass. –
Who Made Krugman the Expert? Cronies Did
Dear Comrade Jones,
I don’t forget that Krugman has a Nobel prize. I discount the award to present value:
The sum of which equals BS.
You’re talking about the same anti-Semites who only awarded only ONE
Nobel prize to Albert Einstein the greatest physicist ever; who gave
Yasser Arafat, Jimmy Carter and Al Gore a Nobel prize and... a Nobel
prize to Barack Obama?
Come on. Explain to me why Obama deserved a Nobel prize?
I still haven’t heard a credible explanation about how he
earned that prize.
It seems more like he got one for making a cameo appearance as a
black man in the government of the United States. Liberals have no shame
that way.
If you told me he got an Academy award for best supporting actor, I’d believe it. But Nobel prize? Come on.
The Nobel prize thus has no meaning for me.
So, if you want to remind people that Krugman has a Nobel then go ahead.
This is what I know: Despite following Krugman’s recipe for economic
success – more money, more money, more money—Obama’s produced an economy
that is sending corporate profits up and job creation down.
There has never, ever been more money than there is today. Ever. The
rate at which money travels through the system has never, ever been as
slow. Ever.
Both the money supply and the money velocity is something that can be helped or hurt by government policy.
And despite this unprecedented money supply, regular folks aren’t
benefiting.Rather the government is benefiting big time. Being located
near enough to D.C. to know how much the city has swelled since the
1970s, it should be obvious to you who has benefited the most from
increased government spending.
Assuming our GDP is somewhere around $16.5 trillion this year,
government spending-to-GDP will come out at about 39 percent of GDP.
From 1938 through 1944, the height of the New Deal AND the war effort,
federal government spending was only 26.5 percent of GDP.
And what do we have for it?
“As of 2012, according to the most recent figures reported by the
Census Bureau, median (midpoint) income for all U.S. households was
$51,017,” writes Obama’s friends at FactCheck.org, “which was 4.9
percent lower (in inflation-adjusted dollars) than it was in 2008, the
year before Obama took office…The number of persons living in poverty
also worsened again in 2012, according to the most recent Census
figures. As of last year, 46,496,000 persons lived in households with
income below the official poverty line, an increase of nearly 6.7
million since 2008 and 249,000 since 2011. The total poverty rate
remained unchanged in 2012 at 15 percent of the total U.S. population.
So for the second straight year, the poverty rate was 1.8 points higher
than it was in 2008.”
According to a report by Intrest.com, there is only one major city
where the average household income is sufficient to buy a new car.
Bingo!
You guessed it: Washington, DC.
“According to the 2013 Car Affordability Study by Interest.com,” says CNBC via
Yahoo Finance,
“only in Washington could the typical household swing the payments, the
median income there running $86,680 a year. At the other extreme,
Tampa, Fla., was at the bottom of the 25 large cities included in the
study, with a median household income of $43,832.”
Only the countries of Lichtenstein and Qatar enjoy higher per capita income than DC’s median income of $86,680 a year.
Thank goodness. All this time, I thought that the runaway federal
spending was just fueling a sense of entitlement, privilege and contempt
for us commoners amongst the people who run our government.
So whatever else Krugman knows about, he doesn’t know nothing about how an actual economy works.
Even he admits as much, although he doesn’t even realize it:
“On both the healthcare and inflation fronts,”
Krugman
wrote in early December “what you have to conclude is that there are a
large number of people who find reality — the reality that governments
are actually pretty good at providing health insurance, that fiat money
can be a useful tool of economic management rather than the road to
socialist disaster — just unacceptable. I think that in both cases it
has to do with the underlying desire to see market outcomes as moral
imperatives.”
If that’s the kind of result that wins you a Nobel prize, then I would discourage Nobel prizes.
I see it as the economic equivalent of peeing in the well from which you drink.
That said: I wouldn’t worry about Sarah Palin if I were you. She
seems to be doing OK, without interfering at all in your life.
When you’re at church you can thank Jesus for being the reason for
the season, and while you’re at it you can explain to him why you tell
people happy holidays instead of Merry Christmas.
And since you’re a hypocritical Catholic, who thinks that he can
preach to me about how Jesus was a socialist, let me tell you that I
ALWAYS pray for you.
Every night I do.Every night.
There is no “maybe” for me.
