Monday, May 21, 2012

Debt Doomsday stupidity

It's time to fight back!

21 comments:

Trixie said...

Can't view: "The video is private"

OMFG you are all ideologues.

Dan Lynch said...

What Trixie said . . . about "this video is private."

mike norman said...

Sorry about that. You can watch now.

mike norman said...

Yes, I am an ideologue. I believe that in a country where there is abundance; where we lack nothing, people should be able to have a decent life unobstructed by sick dogma spewed from elites who tell us we have no money.

Anonymous said...

Great video Mike :) , I get the impression that this guy is quite reasonable.

@Trixie

Sorry Trixie :p - for believing in something.

BfO said...

Hi Mike

Sorry, to spam this on several of your posts, but have you seen this HBS case study?

http://www.scribd.com/doc/94194593/Hayman-Capital-Management

This has Kyle Bass and Harvard economics. Will you be having a field day?

mike norman said...

The good news is, it won't be long before Bass has no money left. This Japan thing is comical.

Matt Franko said...

BFO,

Looks like he is short the Yen and JGBs since July 2010.

These trades both look very negative since then.... this is perhaps why we see all this chatter and negativity wrt Japan and he is rolling out Reinhart and Rogoff... he's probably trying to get out of it...

Mike has called this trade "The Widowmaker"....

Resp

Anonymous said...

So many fashionable hedgies shorting Japan one way or an other... Can only go up.

Hedge fund industry is the biggest scam in history, even bigger than banks or "the government can run out of money" scams.

Is an industry full of idiots and psychopaths, they say they have a very high IQ overall but I pretty much doubt it, why then the high rate of failures? why then the average duration of their business is so low? They are just good at marketing and scamming. I've been managing my own finances since a long time and I've constantly beat up all these hedgies performance constantly, and without having to pay a single stupid bonus and commission, that's the only thing they are good for.

All these myths are perpetrated by the same psychos, to extract wealth from everybody else. But 'morons' are too bad for their own good, and some way the know it, but can't help it and stop doing it, is a rotten business model where everybody wants to get out of the industry as fast as possible. Remember, a moron is someone whose decisions hurt they self as well as other parties (usually third parties, like the public).

Dan Kervick said...

Good Mike. Love how you take the battle to them.

wilwon32 said...

After watching 5 of Mike's YouTube videos, it makes me wonder why he spends so much time on the Fox 'news' and other such network shows arguing with idiots. These videos are very good and (in my opinion) could be better if they displayed/focused on the graphs and other resources employed for his explanations rather than on his face.

Anonymous said...

Someone could do a remix with graphs, etc.

What words do economists usually use to describe spending? i.e in terms of magnitude & direction.

mike norman said...

I hope to evolve these videos with charts and graphics, etc.

John Zelnicker said...

Great video, Mike. And don't stop being an "ideologue". We need more of those who actually know the truth.

Thanks for hosting this blog and all that you do to promote the truth about our monetary system.

Anonymous said...

Great vid. Of those promoting MMT, it seems to me that you have the most on camera charisma. I really hope you keep the bids coming.

Thanks!

Now I just need to learn to embed so I can spread them around.

Jonf said...

Mike, keep up the good work. I tell all I can that we are not going broke. It is often a hard sell. Many think we are running out of money and, in fact, are worried about it. So they figure it is the right thing to do to cut SSMM. It is a shame that both candidates have basically the same ideas. Jill Stien, though, is a little different. Problem is she can't win.

Trixie said...

Great job, Mike. Looking forward to more.

PS. I am an ideologue too. And proud of it.

paul meli said...

Jonf

"Problem is she can't win"

At this stage, the 99% has to path to winning.

Voting for Jill Stein may be a step in the right direction.

Things have to get a lot worse before they can get better I'm afraid.

I've gone back and forth on this argument and am coming around to the point of view that voting for those that have no intention of keeping their promises is a wasted vote.

Our votes don't count anyway so we might as well vote our conscience.

y said...

Impressed by the new setup, Mike, cool video. Appreciate the info. Keep hammering on and you'll get there.

john lutz said...

THANK U MIKE - LET'S KEEP IT COMING!!!

Anonymous said...

A bit uncomfortable with the new surroundings? Just relax, don't worry, just do your thing.