More false metaphor tailor made for the rubes from the moron Stockman who gets a permanent first position to spew nonsense on the terminally disgraced CNBC cable channel here.
Stockman's false childish pagan metaphor "monster" here provided as part of commentary on the recent Budget Committee compromise:
House Republicans "capitulated" in agreeing to the two-year budget deal reached last night and left the country to deal with an unsustainable fiscal situation until the peak of the presidential primaries in 2015, when nothing will get done, former federal budget director David Stockman told CNBC on Wednesday.
"First, let's be clear—it's a joke and betrayal," Stockman, who served under President Ronald Reagan, said on "Squawk on the Street." "It's the final surrender of the House Republican leadership to Beltway politics and kicking the can and ignoring the budget monster that's hurtling down the road."
I didn't know "monsters" could drive... what drivel passes for informed commentary these days.
And it gets worse, this imbecilic nonsense is amplified this time by being featured as the headline in The Drudge Report see the capture below:
The moron-fest of the disgraced continues in earnest facilitated by the fully culpable and most powerful venues in the old and new media.
At least WE are not caught up in any of this.
5 comments:
Matt, there is a budget monster hurtling down the road…it's the one trying to cut it.
Great post Matt.
The metaphor is them calling a duck a quack, then telling us to call it with Rooster calls.
The budget is not the problem as it is only a representation and tracking device for monies injected into the real economy.
Again - if you run out of inventory in your rental warehouse, do you call those renting your machines ( or printed sovereign currency ) and tell them to bring it back because you need to fill the empty warehouse ?
Does the government need to drain the economy into deficit in order to have a surplus or zero ledger where the money is created ?
This is what I am talking about.
The banks rig the libor to win the CDO credit swap game while Detroit loses and the police & firemen lose their pensions which go to the banks.
While my Line of Credit in early 2008 should have had it's interest rate lowered due to the Prime rate drop, it did not.
Instead in November 2007 Bank of America issued a change of the margin in the interest rate ( total interest is prime rate + margin of 4.5% ). The margin was doubled and turns out to be an exact fudge factor to fill in the gap after ALL THE PRIME RATE DROPS occurred during the forth coming 18 months from 2008 to late 2009.
Did they know ahead of time ?
Did they rig the libor to go down to win the deals with credit unions and detroit ?
Did they also rig their customers' lines of credit to have the overall interest rate unchanged throughout the crash with a rigged & falling prime rate by increasing the margins ?
WIN / WIN - they win/win with all their products
LOSE / LOSE - customers and detroit and USA
But it's OK - MMT says we can print a bunch of funny money.
It's OK - Austrians love gold and the banks can do no harm.
Chicago school - not even registering a pulse.
Keynesian - Krugman is too busy apologizing for ObamaScare but not realizing the MMT behind.
Obamacare is a stimulus for all people who make less than $92,000 which is the 400% percentile mark.
Whether you get a direct check of $1000 from George Bush or a subsidy of up to $8000 for Obamacare ... which do you think will help the USA more in a MMT way ?
MMT has said nothing of Obamacare and how it is a stimulus.
I guess now we can start talking about it.
It is important to support Obama whenever he inadvertently stimulates the economy with what is MMT so that Krugman cannot take the credit to the Keynesian and Chicago or whatever school he is at.
goog,
I couldnt have said it better myself...
As far as whether "they knew ahead of time" I personally do not think so... this is the chaos you get when you have morons in control of critical systems... think about a chimpanzee flying a 737... you just never can know what type of arbitrary actions the chimp would take and the resultant chaos and here we are...
As far as Obamacare I think it is going to be VERY helpful as it will increase the xfers to the non-govt of $NFAs which is supportive... but as of today, the system is not working so hardly anybody can sign up for the subsidies... I think they eventually get the system fixed sometime in CY 2014 and they will keep the "open season" open until they do... so once the system is functional, I see MANY people going in and getting the subsidy and this should increase xfers by a couple $100b annual...which is a meaningful rate of additional leading flow..
This will blow out the Ryan budget projections and then all the deficit morons will have a shit fit but F them all anyway I say...
rsp,
The economy's engines will start screaming and drown out the rands and ryans whining...
sorry matt but you are involved and looking straight into the headlights. each budget deal that is passed further amplifies the war on single digit millionaires, the middle class and poor
until the monetary system is completely revamped, this game will go on until the US looks like india, complete with a de facto caste system and absence of public utilities like toilets
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