Paul Krugman and the NYT say you are all idiots to believe Bidenomics isn’t making your life better. So shut up and listen to your betters. Our economic situation is outstanding. Just look at the stock market, where the .01% are doing fabulous. And 2024 will be even better. Vote for Dementia Joe to keep this fantastic economy rolling.
% of Americans who say they are struggling financially to remain where they are.
April 2019: 20%
June 2020: 20%
June 2021: 24%
Oct. 2022: 37%
Mar. 2023: 41%
Dec. 2023: 44% (new high)
Monmouth (A) | n=803 | 11/30-12/4https://t.co/CPiU3ThOW7 pic.twitter.com/uz9xcj0Mtu
— InteractivePolls (@IAPolls2022) December 18, 2023
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Yeah, “spreads well”.
She must be able to suck the chrome off a trailer hitch (H/T Willie Nelson/Electric Cowboy), ’cause she is dumber than a bag of hammers.
Willie is an underrated actor, he was also very good in Thief (1981) with James Caan (great movie if you haven’t seen it, directed by Michael Mann and music by Hans Zimmer)
Too lazy to look it up.
Isn’t that the Miami Vice team?
Every time The Borg try this risible gaslighting, it further exposes their Clown World. Carry on, Clowns! More and more are waking up to their dreams of world slavery because of this inept messaging.
Goebbles is turning in his hellish grave at this kindergarten.
WOW! Krugman admits Biden’s policies are making the rich richer.
Music by Tangerine Dream.
Brilliant movie.
Barbarosa
Kamala is the margarine of politicians.
Kamala is the margarine of politicians.
Why?
Because she spreads easy, but even the bugs won’t eat her.
“The echoes of 1929 abound, but nobody’ sees them because speculative extremes have been normalised by 15 years of Fed policies. What speculative excess? This is just normal market functioning: the Fed hints at easing and the market soars to new highs.”
https://charleshughsmith.substack.com/p/the-feds-empire-of-speculation-and?
Isn’t it amazing how as rates rose they managed to get a lot of people to move their savings from banks to money market funds to earn a better interest rate yield than being offered by banks. So, what will happen as the FED starts lowering rates and people once again start searching for yield to make up for what they’re losing in their money market? They’re not going to transfer that money back to the banks that don’t offer any appreciable yield. Their only option will be to try the Wall Street casino again. The sheep are about to get fleeced once again. Credit Unions are an alternative but the yields will only be slightly better than a bank.
It’s bad when people are calling food for less, food for more.
From Wiki
Regardless of his degrees and awards, the man is the definition of a F’n idiot.
Paul Robin Krugman won the Riksbank Memorial Prize in Economics for being anti-Bush.
Ha also believes that when a statement made by him is immediately believed by most of his NYT readers, that makes it “true” – regardless if it passes the test of time.
And when i ask the person with a 401k, what is the PE of the markets they say what is that, they dont realize, the markets are overvalued x2, some stocks are running Pe’s of 100 or more, but they keep going up.
Think what a country we could have if investing, civics and critical thinking skills were required subjects for high school graduation, along with a trade craft.
Amen
We would still have a nation of mindless dolts. I’m sorry, but your child is just not that bright. The problem is your child is just lazy and only wants to do the minimum to get ahead. Much like their parents. For one thing you’d have to eliminate TV and all forms of modern entertainment like video games and cell phones and mindless sporting events. Essentially you’d have to raise your children like the Japanese do. But, even in Japan there’s varying levels of what most humans can achieve. Not everyone in Japan is a genius. And, even those that learn a trade offer different levels of competency at their trade. The best thing to do is to kill the super rich and let AI and the robots take over while hoping the humans don’t turn into food for the Morlocks.
DW
The Japanese don’t have children anymore.
PE only made sense when there was a real market.
There is a book out there entitled … Greenspan’s bubbles. In essence this manipulation of stock markets began in earnest as far back as the early 90’s. And now. It is completely out of control. The future is going to be HARD.
Actually I believe Greenspan was goosing the markets back in the ’80s which led to the LTCM meltdown which caused the FED to step in and blow another bubble which then led to the 92 recession and Bill Clinton winning the white House.
And the market will continue to go up due to the passive bid – all of those 401ks, 529s, etc. in index and target date funds. They’re buyers regardless of price. Blackrock, Vanguard, Fidelity, et. al basically took over the market when they managed to get it set so that people are automatically opted in to the 401k when they start a job.
Until unemployment is high enough for long enough to cause people to quit contributing and start pulling money out, the market can’t go down, with one exception. If the passive bid gets so big (last I heard it was about 45% of market volume) that it “becomes” the market, the slightest selling pressure can cause a massive dislocation since there won’t be anyone on the bid.
The markets are overvalued, but the problem is even worse than that.
Most people here understand how fractional reserve banking allows banks to, in essence, loan out the same money multiple times and receive interest on all those loans. I suspect, STRONGLY, that stocks here in the US have something similar happening to them. Stock records and ownership go through a sort of central warehouse, the DTCC (and CEDE). 99% of the stocks sold in thiws country are never legitimately transferred to you, the buyer. Ownership instead goes to the DTCC, which assigns it to CEDE. You own the right to proceeds from the stock, but not the stock itself. Supposedly this is done to simplify sales and resales. In practice, what it does is to remove any transparency for knowing who owns what stocks, and whether the same stocks are being sold simultaneously to multiple buyers. The stock you think you own might have ten other people who all think it is theirs.
One big purpose of the stocks and bonds in the US is to soak up some of that fiat money, and thus keep living costs down. That 2X valuation is part of it. But imagine that stocks are sold multiple times — say three times for each issued share. Now we have a 6X removal of money from circulation, allowing the Greedy Evil Bastards to print and steal even more.
I own some stocks myself. Maybe. So they tell me. It is like a run on the banks. You never know what you have until it is too late to get it.
You probably are correct.
They certainly oversold paper gold and silver, and couldn’t possibly deliver to everyone who thinks they own it.
The correct answer would be “what are those ‘markets’ you are talking about?”
I hate being negative. But is has become impossible not to expect a bleak future. God help us all. Yet, I don’t think He will.
Our only in with God comes from Jesus Christ.
Amen. brother. Yet, our last years on this rock could be a real challenge.
“I’m dreaming of a blanco navidad..”
The doomage is strong in this one
They say a pessimist is an optimist but with (much) more information.
It’s always bleakest, or is it darkest before the dawn. But, I don’t see how that’s true when we have Lucifer, The Light Bringer, preceding each sunrise.
So Krugman admits the system is rigged for the wealthy!
Liberal economist with no kids isn’t worried about the future. Huge surprise.
If you are struggling with the food bill, shop at Aldi and you will save major $$$. Geezers living on SS payments are struggling right along with the young families, so cherry pick the pricier stores for their weekly BOGOs then buy the bulk of your groceries at Aldi.
While you are huddled around your space heater listening to your stomachs growl, you can feel extra proud that your country has BILLIONS of dollars to send ZEL for the war effort. (cough)
You’re better off learning to do with less. As for the old geezers and struggling young families I would suggest stocking up on Alpo. Horse meat and other animal byproducts don’t taste all that bad after you warm them up next to your space heater.
Unfortunately for me, the nearest Aldi is an hour away — but on the times I have shopped there I have been impressed by the quality and low cost. Their dark chocolate bars with hazelnuts (Belgian, I think) are the nearest legal equivalent to crack cocaine. Addictive. And if they have some of the imported German dark pumpernickel bread make some grilled cheese sandwiches. I don’t even like pumpernickel… except for Aldi’s.
What is an “Economist” It’s a person who went to business school but was not smart enough to get an accounting or finance degree. They require real math economics is theoretical math. Thats all you need to know about economists. Sorry not sorry if you have a degree in economics.
Just shut up, and believe what you are told……