Posted by
rycK on Friday, September 26, 2008 11:44:11 AM
Krugman Of The NYT Wants Grownups To Bail Out Wall Street. Watch Your Pocket Books
The New
York Times—aka the Walter Duranty Papers has a 90+ year history of apologizing for Communism, fostering any form of anti-anticommunism,
defending despots like Fidel Castro, World Wars started by leftists, the USSR, Cuba and their interminable
endorsement of far left political types who would run for high office in the United States.
They also sit as constant watch
dogs and barnyard squealers as the capitalist
economies parade past their faces and lament that so much wealth goes untaxed
or unregulated.
Their famous non-economist frequently blesses us with his political acumen from
time to time just to spice up the caldrons.
The
leftist-socialist-Marxist topic of the day is Henry Paulson’s $700 billion rescue plan for the U.S. financial system. Krugman
uses recess mentality to attempt to goad the idiots in Congress to increase the
size of government:
“Many
people on both the right and the left are outraged at the idea of using
taxpayer money to bail out America’s financial system.
They’re right to be outraged, but doing nothing isn’t a serious option. Right
now, players throughout the system are refusing to lend and hoarding cash — and
this collapse of credit reminds many economists of the run on the banks that
brought on the Great Depression.”--
Where Are the Grown-Ups? By Paul Krugman Op-Ed Columnist Published: September
25, 2008 [Emphasis is mine in all quotes.] This link references all
quotes in this essay unless indicated otherwise.
Crude
scare tactics, as usual. But, that was a grand day for the left and FDR.
Here are more pleas to soak the taxpayers and
rescue the leftist losers in Congress:
“Tt’s true that we don’t know for sure that the parallel is a fair one. Maybe we can let Wall Street implode and Main Street would escape largely unscathed. But that’s not a chance we want
to take”
A caveat: we don’t know how punishing losers
for mistakes in the financial community will turn out but let us risk your
money as a hedge. Let us bet your money on this scheme. OF course, your taxes
might soar and you debt might increase and the economy might just go down
anyway but, in case, let us risk your money.
Big government needs your help.
In a
rare flight to apparent reason, Krugman writes this:
“Mr.
Paulson argued that he could solve this problem through “price discovery” —
that once taxpayer funds had created a market for
mortgage-related toxic waste, everyone would realize that the toxic waste is actually
worth much more than it currently sells for, solving the capital problem. Never say never, I
guess — but you don’t want to bet $700 billion on wishful thinking.”
This kind
of thinking might defeat our krugmaniacal economist from the New York Time’s
argument for big government, but let us look for a ringer here:
“The Congressional plan, then, looks a lot better — a lot
more adult — than the Paulson plan did. That said, it’s very short on detail,
and the details are crucial. What prices will taxpayers pay to take over some
of that toxic waste? How much equity will they get in return? Those numbers
will make all the difference.”
There is
NO Congressional plan—that is the point ringer.
“The
bottom line, then, is that there do seem to be some adults in Congress, ready
to do something to help us get through this crisis. But the adults are not yet
in charge.”
Name some. Barney Frank? Chris Dodd? Joe Biden? Nancy Pelosi?
Krugman
doesn’t know what to do but he predicts some grownups [leftist parasites?] will
structure a plan to get your tax money and waste it on more phony
‘redistribution of wealth schemes” like this:
Here is the reason we have so many
trash-grade mortgages:
“The Community Reinvestment Act (or CRA, Pub.L. 95-128, title VIII, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.)
is a United States federal law that
requires banks and thrifts to offer credit throughout
their entire market area and prohibits them from targeting only wealthier
neighborhoods with their services, a practice known as "redlining."
The purpose of the CRA is to provide credit, including home ownership opportunities to underserved
populations and commercial loans to small businesses. It has been
subjected to important regulatory revisions”.[6]
These are
liberal plans and schemes. Watch this video:
Vote these parasites
out of office or they will squander all you worked and saved.
rycK
Comments:
ryckki@gmail.com