Over the Top: Because Over the Top is Where It’s Got. No, The Borrowers of the Debt Crisis are Not the Criminals. Clear Enough?

02 Nov

This piece is really slam: but it is time to let it out of the bag.’

We cannot allow the crapsters to tell the borrowers that THEY are the problem.

No, the problem is fraud. and it’s time we stopped allowing the stupidity of holier than thou moralizing which is wrongly targeted and badly shaped in the first place (being built on a story of lies and crap starting with the likes of Santelli saying stupid things like we don’t want to own our neighbors house with the extra bathorooms he cannot afford – which of course is designed from the start to pit neighbor against neighbor instead of making it clear that all of us together have been had by the banking elite.

Well, never mind.  Just stick to the point. Once again we are going to blame the consumers of the world for

1. Not consuming enough

2. Being too far in debt.

Can’t have it both ways now, can we?

And now for a mindless word from a Nobel laureate PhD:

“How many of you people want to pay for your neighbor’s mortgage that has an extra bathroom and can’t pay their bills?” That’s the question CNBC’s Rick Santelli famously asked in 2009, in a rant widely credited with giving birth to the Tea Party movement.

It’s a sentiment that resonates not just in America but in much of the world. The tone differs from place to place — listening to a German official denounce deficits, my wife whispered, “We’ll all be handed whips as we leave, so we can flagellate ourselves.”

But the message is the same: debt is evil, debtors must pay for their sins, and from now on we all must live within our means. And that kind of moralizing is the reason we’re mired in a seemingly endless slump. And if you point out that their arguments don’t add up, they fly into a rage…

Try to explain that when debtors spend less, the economy will be depressed unless somebody else spends more, and they call you a socialist.

Try to explain why mortgage relief is better for America than foreclosing on homes that must be sold at a huge loss, and they start ranting like Mr. Santelli. No question about it: the moralizers are filled with a passionate intensity.

The irony is that in their determination to punish the undeserving, voters are punishing themselves: by rejecting fiscal stimulus and debt relief, they’re perpetuating high unemployment. They are, in effect, cutting off their own jobs to spite their neighbors.

But they don’t know that. And because they don’t, the slump will go on.”

[Jack Krugman, NYT Halloween 2010]

WB7: Mr Debt Nobel is playing PhD word games.

Notice how he conveniently stereotypes the world into two factions, the hysterical anti-debt Taliban vs. the calm voice of economic reason.

Mr Krugman would have the world believe that those who question the wisdom of vacuous public and private debt binging, are somehow joined at the hip with the Santellians who think the whole subprime fiasco should be blamed exclusively on witless low income borrowers.  They are the real debt Nazi’s who would fraudclose on each and every cash strapped homeowner in the country while the bankstas continue to rape and pillage the economy.

He tosses all those raving lunatics who disagree with his Keynesian stimulanomic fantasies into a parade of self flagellating Germans armed with whips (is this high or low brow reasoning?).

Yes, this is the kind of thinking what wins a Nobel prize these days folks.

The title of his piece: “Mugged by the Moralizers.”

You know what, this Nobel laureate PH douche bag (pardon my French) has it all wrong about who is doing the mugging and moralizing and who is being mugged.

Mr Krugman’s writing is a Logic 101 master piece of fallacious reasoning. If you are an advocate of financial prudence, he is attacking you by means of a litany of flawed arguments: ad hominem (don’t listen to the debt “moralizers”), sweeping generalization (they are in the same bucket as sleaze bag fraudclosure artists who care little of the plight struggling American’s), false cause (they are the reason why the “slump” will go on), gibberish (no explanation necessary) and last but not least, false authority (Mr Nobel PhD says…).

Well, to quote another famous New Yorker: “You can’t let yourself be pushed around. You can’t live in fear. That is no way to lead your life.”–Bernhard Goetz

You know what I call Mr Krugman’s hollow words of PhD wisdom?

“Intellectual sodomy by a Nobel Laureate!”



What has this guy been reading on the plane?




Meanwhile, it is gratifying to hear that this Congressional fool is engaged in a life and death election day struggle to save his bungling career.




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