October 10, 2011

Krugman's swipe at Bloomberg's rhetoric about Occupy Wall Street.

Paul Krugman has a column about how various "plutocrats" are "panicking" about the Occupy Wall Street movement, and I want to focus on the 4th paragraph:
Michael Bloomberg, New York’s mayor and a financial-industry titan in his own right, was a bit more moderate, but still accused the protesters of trying to “take the jobs away from people working in this city,” a statement that bears no resemblance to the movement’s actual goals.
So the "actual goals" — presumably, something along the lines of a better world for everyone — should divert us from noticing the actual effects people are actually causing? Imagine that as a general principle: We should to back off from criticizing people who have good intentions, even when they adopt means that cause collateral damage, even when those means aren't likely to get us to the pretty goals they have in mind.

These are exactly the people we need to expose and criticize!

Now, Bloomberg did kind of ask for it, because of his use of the word "trying":
"What [the protesters are] trying to do is take the jobs away from people working in this city... They're trying to take away the tax base we have because none of this is good for tourism....

"If the jobs they are trying to get rid of in this city — the people that work in finance, which is a big part of our economy — we're not going to have any money to pay our municipal employees or clean the blocks or anything else."
Bloomberg's rhetoric assigns to the protesters the intent to achieve the natural consequences of their actions. Obviously, this rhetoric invites the Krugman response. But I think it's a good rhetorical device. It rips away the vanity of dreamers and demands that we look at real, concrete facts.

170 comments:

Tibore said...

Has this movement articulated specifics of what they're protesting about yet? I mean specifics, not the vague generalities about "greed" that I've heard so far.

Scott M said...

It rips away the vanity of dreamers and demand that we look at real, concrete facts.

Granted, but I thought the guy taking a shit on the cop car did a better job of that. The white crowd assaulting the black security guards at Air And Space was another dreamy moment.

Not being a rabble rowser myself, I was unaware of the "rules" involved with being in a large protest crowd. The "mic check" mechanic they use is uniquely annoying, if effective.

Tank said...

Imagine that as a general principle: We should to back off from criticizing people who have good intentions, even when the adopt means that cause collateral damage, even when those means aren't even likely to get us to the pretty goals they have in mind.

These are exactly the people we need to expose and criticize!



This here is a big part of the story of the past 3 or 4 decades. When you combine the "bad" people, of whom there are some, with the well-intentioned do gooders, well, you can really do a lot of damage.

It's why I have mixed feelings about the OWS events. I can agree with some of the complaints, but I'm guessing that the remedies most favored by most of the demonstrators (to the extent they have even formulated them), will make things worse.

Rick Caird said...

Of course the protestors are "trying" to take jobs away from people who work in the city. Bankers are one class they are targeting. But, the protestors are using a scatter gun. Right now, they are hitting multiple targets they will tell you they do not ntend to hit.

But, Krugman knows all this. It just does not fit his partisan narrative.

AprilApple said...

Don't judge the left by their disastrous outcomes - judge them by their lofty intensions.

Scott M said...

Right now, they are hitting multiple targets they will tell you they do not ntend to hit.

Agreed. And if you corner one in a discussion with that fact, really pin them to it, they will invariably fall back on some version of "the ends justify the means".

mesquito said...

I awoke with a prayer on my lips: Please, God, please make the Democrats chain themselves to the OWS loons.

PETER V. BELLA said...

If you look moron up in the dictionary, Paul Krugman will be the first definition.

AprilApple said...

Democrats want to remove private wealth and feed it into the Solyndra, Fannie, Freddie, Goldman Sachs, Unionist machine.

The powerful leftists have succeeded is doing so and it has been a disaster for our economy. But please! don't judge them. These astroturf "protesters" want more of what the democrat party is promising them. If the democrats can fool enough of the dimwits who do not understand economic reality - maybe Obama can win a 2nd term.

Tank said...

Peter

The one thing Krugman is not is a moron. He is quite deft at lying and distorting throught the creative use of statistics and quasi-facts. He can be deconstructed. But it takes more work and eco-knowhow than most Americans have, certainly most liberal Times readers.

Clyde said...

The road to Brooklyn was obviously paved with good intentions.

traditionalguy said...

The Occupy the Public Square tactic and demand power over money is Obama 101.

Tragically Obama has occupied 1600 Pennsylvania Avenue with the same demands.

Obama is a fancy thief.

Quayle said...

My guess is that this whole movement is born of the disillusionment by some that Obama hasn't cause the rise of the oceans to slow nor the the planet to begin to heal.

Oh, and not only has Obama not ended the wars, he started a few himself.

So now they are taking matters into their own hands.

Cause if student loans can be discharged in bankruptcy, then and only then will the rise of the oceans begin to slow and the planet begin to heal.

traditionalguy said...

Herman Cain is the antidote to these spoiled brats demanding power.

Herman calls them out instead of engaging them in listening to their inner needs that only need to be loved.

That's what authority must do, unless it plans to negotiate surrender and move to Hong Kong.

HDHouse said...

I suppose we will have to wait to find out what constitutes the "vanity of dreamers" and also your set of "concrete facts".

Don'tcha just love rhetorical flourishes first thing in the morning even if meaningless.

Hagar said...

It is basic to the liberal creed that good intentions must necessarily end in good results.

Also the obverse, if the results of your actions are not good, it must be because your intentions were bad.

Except, of course, if you are a liberal. Then the bad results came because your good intentions were thwarted by those dastardly kulaks!

Curious George said...

"It rips away the vanity of dreamers and demand that we look at real, concrete facts."

This from someone who voted for Obama.

HDHouse said...

or by really dumb people who can't see the forest for the trees...ehhh Hagar?

J said...

It rips away the vanity of dreamers and demand that we look at real, concrete facts.

Sounds about like what Ayn Rand or Buckley said in the 60s, while approving of Nixon, or Goldwater, and 'Nam. Existence exists ,yall

Thorley Winston said...

Eventually someone’s going to figure out that in an age of telecommuting, it’s no longer necessary to have a centralized financial center located in New York City. As soon as the costs exceed the benefit and some of the major players start to relocate, a physical location for “Wall Street” could become an obsolete concept and NYC (which depends on their tax revenue to survive) is pretty much screwed.

Chip S. said...

The one semi-coherent complaint the OWS people seem to have is about the "Wall Street bailout," by which I presume they mean TARP.

Here's what Krugman said about TARP on 9/28/08:

I don’t, in the end, have much more to say about the plan. It passes my test of no equity, no deal; that, plus the danger of financial panic if it doesn’t go through, makes it worth passing, though celebration is not in order.

Do the architects of TARP get credit from the OWS mob for "good intentions"?

These OWS fuckwits have no good intentions, unless covetousness, avarice, and sloth are now virtues.

viator said...

Krugman was a member of Journolist. There is no reason to believe that the highly successful Journolist is defunct, rather it probably morphed into a much more secure closely held cabal. So when Krugman writes about OWS movement's "actual goals" he may know what he is talking about.

NY Mayor Mike Bloomberg's live in significant other, Diana L. Taylor, is on the Board of Directors of Brookfield Office Properties, the owner of Zuccotti Park, OWS's home base.

http://www.brookfieldofficeproperties.com/content/corporate_governance/board_of_directors-16350.html?Page=2

Brookfield Offce Properties, owner of Zuccotti Park, is part of a much larger corporation which just got a $168 million dollar loan from the Obama administration a few days before the occupation started.

http://www.godlikeproductions.com/forum1/message1666560/pg1

AprilApple said...

The antidote for Paul Krugman hackiness: Mark Steyn.

http://articles.ocregister.com/2011-10-07/news/30258805_1_debt-forgiveness-steve-jobs-iphone/2

"So they are in favor of open borders, presumably so that exotic Third World peasants can perform the labor to which they are noticeably averse. Of the 13 items on that "proposed list of demands," Demand Four calls for "free college education," and Demand Eleven returns to the theme, demanding debt forgiveness for all existing student loans. I yield to no one in my general antipathy to the racket that is American college education, but it's difficult to see why this is the fault of the mustache-twirling robber barons who head up Global MegaCorp. Inc. One sympathizes, of course. It can't be easy finding yourself saddled with a six-figure debt and nothing to show for it but some watery bromides from the "Transgender and Colonialism" class. Americans collectively have north of a trillion dollars in personal college debt. Say what you like about Enron and, er, Solyndra and all those other evil corporations, but they didn't relieve you of a quarter-mil in exchange for a Master's in Maya Angelou. So why not try occupying the Dean's office at Shakedown U?"

Henry said...

Imagine that as a general principle: We should to back off from criticizing people who have good intentions, even when the adopt means that cause collateral damage, even when those means aren't likely to get us to the pretty goals they have in mind.

Unfortunately, we don't have to imagine this general principle. It pervades the left.

The cliched defense of every leftist economic program is that it hasn't really been tried yet.

Socialism? You can't criticize socialism. Europe never really tried socialism.

Big government krumanism? You can't criticize krugmanism. The U.S. never really tried the European model that was never really socialism.

Tim said...

"It rips away the vanity of dreamers and demand that we look at real, concrete facts."

If this had been ever true, contemporary liberalism would have died in utero.

But the impulse to live at someone else's expense, glossed with fanciful language to disguise the underlying theft by public power, is too attractive to pass up.

Pogo said...
This comment has been removed by the author.
Sixty Grit said...

Hey, hdouthouse, while you are passing through, how about you tell us again about how you send your money offshore in order to avoid taxes?

You are a liar and a tax cheat, but you are also a racist Klan supporter, so we get where you are coming from, you demented diaper wearing cocksucker. Keep moving you pathetic piece of shit.

Pogo said...

Krugman is an example of the leader who is both stupid and industrious; these are dangerous to the enterprise and must be removed immediately.

Stupid does not mean he is not intelligent, for clearly he has great intellect. But the conclusions he draws have become increasingly stupid. He fails to see what is right in front of him, he cannot admit he has been painfully wrong thus far.

And so he has become dangerous as a pundit.

J said...

Raise taxes on the wealthy, control speculation (ie, the shekelsmeisters earning millions by trading gold, oil ,stocks, etc), student loan reform , free college education, demands for work--rather specific, reasonable demands. That some protesters have tats and are a bit grungy --Nixonites said the same about hippies.

MadisonMan said...

If these people had good jobs, I rather doubt they'd be protesting. Therein lies the problem.

So I'm not sure I'm sympathetic to their goals -- whatever they are -- but they are an indication of what's wrong.

Rumpletweezer said...

The Nobel Prize committee passed up an opportunity to award another prize to someone who's anti-civilization and anti-west? Oh, yeah, I forgot. They already gave this clown one. Still, they could have given Krugman another one. Maybe the one for literature...for something he's going to write.

Bob Ellison said...

@Mesquito, your prayer has been answered.

Scott M said...

If these people had good jobs, I rather doubt they'd be protesting. Therein lies the problem.

How do you apply that logic to the tea party protests in 2009 and 2010? Those people were employed and made time to go to protests for something they believed strongly in. Most I know took time off to do so.

What do you supposed those protests were an indication of?

Henry said...

"It rips away the vanity of dreamers and demand that we look at real, concrete facts."

The other concrete fact is that the confrontation being created is between mostly white, mostly middle-upper-class university-spawned white kids and unionized, mixed-race policemen.

Mandatory reading:

That the protest is dominated by Internet savvy youths exploiting social media is frequently mentioned. But what is not mentioned is the fact that the protesters are overwhelmingly college students, or recent graduates who still haven’t found jobs. They aren’t just any college students, but the stereotypical sort that you might expect to be involved in campus activism, such as graduate students in “Gender Studies.” I found nobody with engineering or science degrees, but many from arts and acting colleges. After talking with one guy for a while about unemployment and his difficult in finding a job after college, I found out that he was a “poet.” I’m not sure he understood that employers aren’t looking to hire poets. The only person I met that had a political science degree was one of the police officers “keeping the peace.”

The protesters are also predominantly white with blacks underrepresented. On the flip side, blacks are over-represented in the police force. The protesters often compare themselves to the Civil Rights Movement, but the photographs of the recent arrests often show black policemen arresting white protesters. I don’t know if this is a vindication of the Civil Rights Movement or if there is still more work to go, to get the blacks better ensconced in middle-class American to send their kids off to college with that combination of privilege and entitlement that turns them into protesters.

damikesc said...

Does Krugman really think he is not a plutocrat?

He's really rich, doesn't do anything beneficial to anybody, and his ideas helped cause this crisis.

Maybe they will protest his house.

Bob_R said...

I think the contrast between the Occupy movement and the Tea Party movement is a good demonstration of the argument that the left is holding its claim to the title of "stupid party" firmly in its grasp. It may be generations before the right can challenge to regain the title.


Both of these movements are protest movements grown out of a reaction to the crash of 2008, the subsequent bailouts, and the lingering bad economy. Neither of them started out with anything more than disgust. But the Tea Party has boiled down to a push for smaller government with smaller budgets and less crony capitalism. We will see if this desire survives them actually gaining power. (It never has before.) Agree or disagree there is still a coherent common message.

But it's hard to see a coherent message emerging from the Occupy movement. There is clearly a desire for a big, powerful government to come in and save the day, but it's so sad that those pesky Republicans get a chance to vote. There's no real stomach for socialism or any other form of tyranny. (I think primarily because it sounds like such an awful lot of work.) People like Krugman would be happy to do the work. (I have no problem imagining him working for Stalin.) But I'm not sure the Occupy crowd likes the Krugmans of the world any more than the Tea Party likes Bush and Romney. In the end I don't see Occupy getting rid of the Anarchists for Big Government label.

Chip S. said...

Raise taxes on the wealthy, control speculation (ie, the shekelsmeisters earning millions by trading gold, oil ,stocks, etc), student loan reform , free college education, demands for work--rather specific, reasonable demands.

Useful specifics. Maybe a useful discussion can ensue.

1. How high do taxes on the wealthy go? These people cannot say; they just know, somehow, that the wealthy are not paying their "fair share." Evidence from countries that purport to soak the rich, where only salarymen subject to withholding really pay anything, is unknown to these people.

2. Trading in currency, commodities, etc., is something anyone with internet access can do. It's just that it's not a good idea for most people to try it; it's a very high-risk gamble against smart and hyper-hard-working traders.

3. Europeans I know who study in the US are amazed at how much more attention they get from their profs here. "Free" universities operate like most other government agencies. Also, the system we have now actually soaks the rich far more than a "free" system would, because only the well-off pay full tuition. The effective tax rate levied by universities is very, very steeply "progressive."

4. Who are they demanding to be employed by, and at what wage? Why aren't firms hiring at the normal rate? Why is this "recovery", fwiw, a jobless one? The answers to these questions aren't to be found on Wall Street, but on Pennsylvania Ave.

Scott M said...

But it's hard to see a coherent message emerging from the Occupy movement.

But there is. It's a rallying cry in the War For Dependence.

Bob_R said...

On the other hand, when people demand free healthcare, free education through grad school, a guaranteed living wage, and an end to greed you've got to give them credit for hutzpa.

garage mahal said...

These OWS fuckwits have no good intentions, unless covetousness, avarice, and sloth are now virtues.

If OWS serves no other purpose other than pissing off conservatives and occupying their time, it will be well worth it. That way we don't have to spend all our time talking about their stupid shit.

But conservatives squaking already and infiltrating the movement to discredit them proves to me it's having the right intended effect.

Ned said...

"Imagine that as a general principle: We should to back off from criticizing people who have good intentions, even when they adopt means that cause collateral damage, even when those means aren't likely to get us to the pretty goals they have in mind."

I doubt it occurs to you but THAT IS LIBERALISM...every program well mentioned, all disastrous results...but don't criticize!!! Take your vote for obama (SCOAMF)...same deal

Joe said...

(The Uncredentialed, Crypto Jew)
Does Krugman really think he is not a plutocrat

Paul Krugman is a “Comrade of Proven Worth” and hence, by definition, NOT a “plutocrat.” Please keep up…the Koch Brothers, plutocrats, Joe the Plumber Plutocrats…the Obama’s Comrades of Proven Worth…Charlie Rangel Comrade of Proven Worth…see it’s easy, IF you’re a Progressive and have money it’s a “gude fact” if you’re not, you’re a “Plutocrat.”

Chip S. said...

But conservatives squaking already and infiltrating the movement to discredit them proves to me it's having the right intended effect.

You set a very low bar for proof.

Conservatives save a lot of time by not marching around and occupying public spaces in order to squawk.

gwen locido said...

Let us accept your premises and arguments, and hold the protesters to account.

Then, having restored the preexisiting state, what about "Wall Street"? Are those "victims" of the mob mentality of Occupy Wall Street, doing good? Or, are their actions, even, neutral for 99% of the American populace. For Mayor Bloomberg, Kay Kelly and the moguls of financial engerineering whose livehoods are directly tied to the continuation of the current corruption, the answer is self evident.

For the rest of us, we know what you are, we know what you want, and we know how this will end.

Oligonicella said...

Althouse --

These are exactly the people we need to expose and criticize!

People who pursue unrealistic dreams because they bear so much guilt? People who would like the US to be a 'great experiment'? People who haven't the slightest clue as to how the bulk of US citizens think and feel?

People such as yourself as you pulled the handle in 2008?

Hoosier Daddy said...

"... free college education..."

Free, as in making someone else pay for it.

Curious George said...

"mesquito said...
I awoke with a prayer on my lips: Please, God, please make the Democrats chain themselves to the OWS loons."

God says "No problem mesquito!"

Chip S. said...

For the rest of us, we know what you are, we know what you want, and we know how this will end.

You forgot "we know where you live."

Your noble intentions just leap from the screen.

Calypso Facto said...

The phrase "they know just enough to be dangerous" comes to mind for these partially educated white kids. They are the perfectly malleable medium for handlers seeking a publishable spectacle. Well, almost perfect. More black kids would help, apparently:

"There's a core of people--the media and press team--who are doing a lot of the organising and shaping the public image. . . . We tried to talk to one of the media folks about the problem of there not being people of colour, and the problem of people of colour not necessarily feeling comfortable participating, and there was resistance on their part to acknowledge that." h/t Taranto

phx said...
This comment has been removed by the author.
Joe said...

(The Uncredentialed, Crypto Jew)


Before you lapse back into Anti-Semitic, Spanglish let’s address
Raise taxes on the wealthy
1) They make jobs
2) They pay the majority of taxes, NOW
Please explain how taking money from folks who create jobs makes sense, in a time of 9-plus% unemployment.
control speculation (ie, the shekelsmeisters earning millions by trading gold, oil ,stocks, etc
Why, these people match demand and supply. Not enough oil, “Speculators” drive up the price, thereby making investment in oil production profitable-assuming your Government doesn’t hate (with a passion) Fossil Fuels. Government debasing it’s currency, “speculators” drive up the price of gold and precious metals, stimulating greater production.
student loan reform
If, by reform you mean elimination of the US Government involvement then yes, wholeheartedly….IF by reform you mean more money for “Madonna Studies” no thanks, we’ve got enough smelly hippies on the streets as it is.
free college education
News Flash: NOTHING IS FREE….you mean you want ME to pay for YOUR college. Here’s an idea, pay for your own college.
demands for work--rather specific, reasonable demands

What demands for work. Point out one demand for work…they want debt forgiveness (for the hippies already with the Madonna Studies Degree) and “Free College” for those still attempting to get a “Madonna Studies Degree”. They aren’t asking for work…I guess they are demanding we spend USD 2,000,000,000,000 we don’t have on “infrastructure” and “environmental remediation”, but it’s obvious that the Madonna Studies Majors aren’t going to be building the bridges or draining the swamps, or REBUILDING the swamps….

J said...

How high do taxes on the wealthy go?

Maybe back to at least Reagan levels-- 50% or so--,since they're still at historic lows after BushCo--a point teabugs forget routinely.

Capital gains in particular--where a few wealthy investors increas their fortunes merely by buying gold or oil futures. You don't sound like you
know much about the markets--it's not for the working/middle class. It's a casino catering to the very wealthy--Bloombergs. No wonder El Puerco de NY's upset. The protesters might like cut into his million+-a-month stock/futures earnings or something.

HDHouse said...

aside from 60grittttt wandering even further off the the off-meds reservation, the commentator contingent on this blog seems to have moved a bit farther to the right over the past 5-6 months....nice to see you all enjoying each other's company and borrowing from each other's limited resources.

keep it up. Ann's making good money off you.

Scott M said...

That's something I would like addressed. We heard constantly about how white the Tea Party rallies and protests were. It was characterized as an indictment and supposed buttress to the left's cries of racism.

Can someone 'splain to me why this is different?

AJ Lynch said...

"Fee college education" for all would require libs like Elizabeth Warren, with her Harvard salary of $350K plus, take a big pay cut.

And how about Krugman? Is he on the Princeton payroll?

Hoosier Daddy said...

"... If these people had good jobs, I rather doubt they'd be protesting. Therein lies the problem..."

What's the definition of a good job? Cause if its one that pays a high salary, liberals tend to eschew those types of businesses since in order to pay high salaries, one has to make high profits and if people before profits is the rallying cry, well, there you have it.

Oil companies, drug companies and financial services tend to pay quite well yet are consistenly demonized by the left.

Joe said...

(The Uncredentialed, Crypto Jew)
You don't sound like you
know much about the markets--it's not for the working/middle class


CalPERS and 401(k)’s and Roth IRA’s…no benefit to the Middle Classes at all…and the matching of capital needs of employers with financiers, no benefit to the workers or middle managers and their families at all…Sure ChipS doesn’t know much about markets…Pot meet Kettle…BTW, how’s the power-lifting going? Got anyone to eve comment on your blog or have you just given up on that endeavour?

Scott M said...

Oil companies, drug companies and financial services tend to pay quite well yet are consistenly demonized by the left.

The last time I saw someone do one of those write-ups where they take all the hours, jobs, expertise of a stay-home mom and add it up, it worked out to the equivalent of a fairly nice gig as well, but this too is another career demonized by the left.

Stay home dad, though...that's "progressive".

MadisonMan said...

What do you supposed those protests were an indication of?

Dissatisfaction with the government, which is I think congruent with the OWS protests. At some point there will be a person who can neatly bridge the gap between what the TEA partiers complain about and what the OWS people complain about, and they will do well at the ballot box, perhaps. Populism will return, briefly. How long until it too is corrupted by DC politics.

Government for the people doesn't quite mean what it used to mean. Could be worse though -- I could be also be an Atlanta Falcons fan.

Sixty Grit said...

Sure, hdouthouse, but since you are a tax hypocrite, no one is making money off of you, including your beloved bureaucrats. Clean up your act, you senile old pants soiler - you are pathetic.

Chip S. said...

And how about Krugman? Is he on the Princeton payroll?

I'm confident that Krugman donates all his pay from Princeton and the NYT, plus royalties from his books, plus the cash from his Nobel Prize, to a slew of worthy causes, keeping only enough for him and his wife to subsist at a minimal level of comfort.

After all, he's not a total phony, is he?

Scott M said...

My point, MM, was that they were employed and still protesting. Not unemployed and asking for even more handouts.

SGT Ted said...

Krugman uses the lefty/liberal "good intentions" excuse of faux moral superiority. The whole OWS crowd uses it too. Problem is, redistributionism is inherently immoral.

Joe said...

(The Uncredentialed, Crypto Jew)
At some point there will be a person who can neatly bridge the gap between what the TEA partiers complain about and what the OWS people complain about, and they will do well at the ballot box, perhaps

What bridging, as Steyn says, these are anarchists for Big Government, the TEA Party is about a SMALLER government….

Calypso Facto said...

"For Mayor Bloomberg, Kay Kelly, and the moguls of financial engerineering whose livehoods are directly tied to the continuation of the current corruption, (i.e., President Barack Obama and his Wall Street Administration: Lawrence Summers, Tim Geithner, Michael Froman, David Axlerod, Thomas Donilon, the answer is self evident.

FTFY Gwen

J said...
This comment has been removed by the author.
Scott M said...

What bridging

I suppose bailouts for big companies might at least start a span. It might turn into one of the political third-rails, though I doubt it.

Joe said...

(The Uncredentialed, Crypto Jew)
Maybe back to at least Reagan levels-- 50% or so--,since they're still at historic lows after BushCo--a point teabugs forget routinely

BTW, your economic history is as laughable as our economics, prior to Reagan upper tax rates were 70%, not 50%.....

BarryD said...

"So the "actual goals" — presumably, something along the lines of a better world for everyone — should divert us from noticing the actual effects people are actually causing? Imagine that as a general principle:"

You don't have to imagine it.

Ideological "progressives" or "liberals" in the American sense live it. You can talk to them, read their opinions, etc. The only thing you can't hope to do is reason with them.

J said...

Joejoe the Madoffian--maybe provide the demographics on the protesters' educational/social backgrounds instead of just Limblowing. Were US colleges inexpensive or free instead of financial rackets they wouldn't have wouldn't have the massive debts to pay off.

You're wrong on trading as usual as well. Brokers and traders don't do anything except arrange deals--and most have all the cutting edge stocks/futures warez, so they just follow a chart. Even a dumbass like you could probably do it, Jo jo. Many wealthy investors do the trades themselves without brokers. Keynes himself was not supportive of the stocks/futures markets--what did he call them Snap, crackle pop or something--a game that makes millions for the plutocrats.

Brian O'Connell said...

Many of the complaints by the OWS/99% folks have to do with ridiculous college debt. And it is a scam they should be upset about- but one that they willfully walked into too.

Part of this is the result of unintended consequences of the non-dischargabilty of college loan debt. Since the loan will always be repaid, the lenders don't particularly care what kind of earnings a particular degree can fetch. So loans for an engineering degree are equal in lenders eyes to loans for art history- or any of the more ridiculous programs out there.

If the lenders had to look at the realistic potential earnings for a degree because bankruptcy is an option for the borrower, they wouldn't be lending so freely. And people averse to actual work couldn't get by with wasting time and resources on subject matter that the market doesn't value.

Tank said...

HDHouse said...
aside from 60grittttt wandering even further off the the off-meds reservation, the commentator contingent on this blog seems to have moved a bit farther to the right over the past 5-6 months....nice to see you all enjoying each other's company and borrowing from each other's limited resources.

keep it up. Ann's making good money off you.


LOL. Ann provides a service that many of us are quite happy to help support. This is the essence of capitalism and free markets and creating jobs. Offering goods or services that others want or need. Then engaging in a voluntary transaction. Sorry, way too complicated for House.

J said...

Joejoe the dyslexic--read the sentence again. Reagan era tax rate was 50% until 86. Yes a drop from Carter and Nixon, but that wasn't the point was it ,puerco. TPers routinely insist Reagan was great, yet taxes were 10% higher then than now.

Joe said...

(The Uncredentialed, Crypto Jew)
Were US colleges affordable instead of racket they wouldn't have wouldn't have the massive debts to pay off

IF you paid for the college education YOURSELF, rather than relying on a Third Party Provider, it would cost less…as it is colleges have NO incentive to control costs. Have you noticed how colleges compare to one another…via “Benchmark Schools”…IF Harvard charges “X” then Brown will charge something “near-X.” Everyone has an incentive for Harvard to charge MORE, because then they can charge more…and so College Administration grows and grows….Tell me “J” do you have lots of cheap food options for lunch? Yes, why, BECAUSE YOU BUY YOUR OWN LUNCH…no one gives you a “free lunch”….

Brokers and traders don't do anything except arrange deals--and most have all the cutting edge stocks/futures ware

You mean deals were a corporation looking to expand, meets up with people who have money to fund the expansion? That kind of “deal?” Man ChipS may not grasp Capitalism, but you are truly clueless….And that software, tell me “J” did anyone make money providing that software…and the lights at the Stock Exchange any money made from providing those, and the janitors that clean the floor after hours, did they benefit?

Joe said...

(The Uncredentialed, Crypto Jew)
TPers routinely insist Reagan was great, yet taxes were 10% higher then than now

No, tax rates were 28% under Reagan, LOWER than today..depending on when you say “Reagan.” The TEA Party understands that Obama will have to raise ALL OUR TAXES to pay for his programs…so even IF rates remain the same TODAY, we know they must sky-rocket…and what does Obama spend the huge amounts of time talking about, RAISING TAXES….it’s not like it’s a secret.

garage mahal said...

TPers routinely insist Reagan was great, yet taxes were 10% higher then than now.

And they say bringing back those rates under Reagan equals socialism. And of course, CLASS WARFARE.

Chip S. said...

If the lenders had to look at the realistic potential earnings for a degree because bankruptcy is an option for the borrower, they wouldn't be lending so freely.

Since this would make the debt completely unsecured, I'm quite sure they wouldn't be lending "freely." In fact, they wouldn't be lending to students at all. Students would have to be supported by their parents' wealth, just like in those olden times when college was the province of the upper class.

Basically, I call bullshit on anyone who claims to be from a family of modest means and had to borrow six figures to pay for college. Odds are very high that a lot of that borrowing paid for cars. Or drugs. Almost nobody of modest means is paying full freight at any university.

Joe said...

(The Uncredentialed, Crypto Jew)
And they say bringing back those rates under Reagan equals socialism. And of course, CLASS WARFARE

Yeah, I say let’s return to Ragan…OH you mean the 70% rate right Garage? Let’s raise the taxes on people who pay almost ALL the taxes NOW? And that’s NOT “Class warfare?” It would only be Class Warfare if Obama wanted to put the Kulaks on trial and send them to the camps?

Brian O'Connell said...

Since this would make the debt completely unsecured, I'm quite sure they wouldn't be lending "freely." In fact, they wouldn't be lending to students at all.

Possibly. One alternative I've heard about is rather than requiring these loans to be repaid at a fixed rate like a normal loan, they'd be repaid at a fixed rate of the borrower's income. So the lender would have to judge whether they're likely to receive 5%, say, of an engineer's salary, or a Starbucks employee's.

garage mahal said...

Let’s raise the taxes on people who pay almost ALL the taxes NOW? And that’s NOT “Class warfare?”

I would just call it "raising taxes on rich people". They don't "pay almost all taxes now" anyway.

Scott M said...

They don't "pay almost all taxes now" anyway.

If you could take your life, GM, write it on a piece of paper, toss it in a big bowl with everyone else's life, then draw one out at random confident it would be a good life, would you do it?

PatCA said...

The only black person I have seen in any photos is one walking to work, on Wall Street. I guess he's like Herman Cain, not "authentic."

Joe said...

(The Uncredentialed, Crypto Jew)
I would just call it "raising taxes on rich people". They don't "pay almost all taxes now" anyway

Top 1% $380,354 38.02
Top 5% $159,619 58.72
Top 10% $113,799 69.94
No, Garage they hardly pay their own freight. My Yhwh you’re getting as desperate as the Occupy Wall Street/”J” types…..

Pogo said...

Isn't it great how Obama and the Democrats have brought us all together, acting towards one shared goal?

To destroy each other, sure, but it is a common goal.

edutcher said...

The closest Krugman gets to the "protestors" is probably his office at the Gray Lady, if that much. If he actually saw, or smelled, them, he'd know what a disaster they are for the Demos.

Unless he really is that dumb.

"We should to back off from criticizing people who have good intentions"

Himmler and his boys also had good intentions - they thought they were making a better world, too, one where the Commies and Jews wouldn't start any more wars.

Maybe he really is that dumb.

garage mahal said...

These OWS fuckwits have no good intentions, unless covetousness, avarice, and sloth are now virtues.

If OWS serves no other purpose other than pissing off conservatives and occupying their time, it will be well worth it.


As I said yesterday, George Will's take on this on Ms Amanpour's show should scare the pants off every Demo in the country.

But conservatives squaking already and infiltrating the movement to discredit them proves to me it's having the right intended effect.

Love to know when this happened; it's SEIU that's always sending a couple of troublemakers to a Tea Party.

All Conservatives have to do is sit back and watch the show and smile as GodZero and the Demos give support to these morons.

Chip S. said...

So the lender would have to judge whether they're likely to receive 5%, say, of an engineer's salary, or a Starbucks employee's.

How this would play out: Every loan applicant says he or she plans to take a pre-med or engineering curriculum. Every lender knows this can't be true of everybody, so believes nobody. Net effect: same as in my previous comment.

Even if everyone were honest and credible, this would amount to a weird sort of tax surcharge/subsidy scheme in which engineers in effect pay baristas to take humanities classes.

Maguro said...

Basically, I call bullshit on anyone who claims to be from a family of modest means and had to borrow six figures to pay for college. Odds are very high that a lot of that borrowing paid for cars. Or drugs. Almost nobody of modest means is paying full freight at any university

Well, it depends on what you mean by "had to". Tuition and board at a middling private liberal arts college like the University of Puget Sound run close to $50K per academic year. And while financial aid is available, it doesn't cover everything so it wouldn't surprise me at all if a fair number of UPS grads had over $100K in student debt.

As for the "had to" part, the people who racked up all that debt getting an English degree or whatever at UPS could have gotten a Bachelor's degree a lot cheaper by going to community college and transferring to say, UW-Tacoma, so you could say they didn't really have to. I don't disagree with that. But trust me, there are a lot of people out there in hock for expensive private school education that really shouldn't be. It's shockingly common among aspirational middle class families.

Calypso Facto said...

"And they say bringing back those rates under Reagan equals socialism. And of course, CLASS WARFARE."

No, I say when the Democrats' rhetoric, from the President down, inspires people to send emails to their representatives like "Time to Kill the Wealthy", THAT's class warfare.

wv: culur. Ain't seen much of it in OWS

Joe said...

(The Uncredentialed, Crypto Jew)
How this would play out: Every loan applicant says he or she plans to take a pre-med or engineering curriculum

It would be “lagged” one year, but when you flunk out of the pre-med or engineering, you’d get a reevaluated loan package….

Hoosier Daddy said...

"... Well, it depends on what you mean by "had to". Tuition and board at a middling private liberal arts college like the University of Puget Sound run close to $50K per academic year..."

How come there never have been any Congressional hearings or investigations of tuition gouging by higher education institutions?

Does Big Academia has some special dispensation to gouge the public that Big Oil or Big Health Insurance doesn't have?

Chip S. said...

@Maguro--Part of what I mean by "had to" is that nobody "has to" go to the University of Puget Sound. And, what you said, if they do they certainly don't have to major in something that won't repay the price of UPS.

But more than that, AFAIK the cut-off line for paying full tuition is at a pretty affluent level. There are, I believe, standard guidelines for the amount families are expected to be able to pony up to send Buddy and Sis to college. Financial aid & loan packages are based on that expectation.

I've seen too many college students driving nice cars to put a lot of stock in this whining about student loan debt. Not to say that's definitive, by any means, but it's the basis for my skepticism.

Chip S. said...

It would be “lagged” one year, but when you flunk out of the pre-med or engineering, you’d get a reevaluated loan package….

I don't see how this solves anything. What stops the flunkee from walking away from his debt?

Brian O'Connell said...

How this would play out: Every loan applicant says he or she plans to take a pre-med or engineering curriculum. Every lender knows this can't be true of everybody, so believes nobody. Net effect: same as in my previous comment.

There are already reporting requirements from the student to the lender as far as grades, no? These would just need to include confirmation that the classes taken meet the declared major requirements. Slightly more complicated maybe, but not insurmountable.

Even if everyone were honest and credible, this would amount to a weird sort of tax surcharge/subsidy scheme in which engineers in effect pay baristas to take humanities classes.

Because the price of humanities degrees would be forced down, I assume you mean. Yes- but note this is already a good outcome. At some point, engineering students would see this subsidy and demand change. Schools that had only engineering & hard science programs could outcompete the universities that offered everything and which subsidized the less valued programs.

Currently, there's too little feedback from the labor market.

MadisonMan said...

I don't understand the mindset of someone who goes into ridiculous debt to go to College. (Invariably, it seems, the stories are about people who went to college on the East Coast). I am grateful that the people of Wisconsin support the UW system, keeping tuition moderately affordable.

The popping Higher Education bubble (that will occur when people see that the cost exceeds greatly the benefit) will be interesting to live through.

'Forgiving' college debt just means that people won't learn from their mistakes. Bad, bad, bad idea.

J said...

Joejoe the Kissingerite--that's nearly Adam Smith--didn't you get the labor theory of value like back in Shekels U? Not the sames as Karlo Marx's version, but related--..Traders/brokers/financiers don't produce anything of value, except perhaps a trivial service. They don't grow crops, manufacture autos, or computers, etc. They merely pimp them, or rather ..help the owners increase their wealth via the magic of speculation. Superfluous, like you. And most in the big leagues of trading are the sons of rich daddies as well (ie, ivy league alums ,steinford, jap. execs , etc)--ie ,they started off at the table with a humongous pile of chips..until Farmer Turnipseed, who hasn't a pile at all.

The ...more democratic of the Founding Fathers themselves objected to the speculation/finance game(ie, Madison andJefferson). Oooo, now mention Sally Hemmings for bonus points, Einswine

AJ Lynch said...

Reagan's annual deficit in 1986 was 5% of GDP and in 1988 3%. Obama's deficit in 2011 is 11%.

Fed spending as a % of GDP was:
22% in 1986
21% in 1988
25% in 2011.

Joe said...

(The Uncredentialed, Crypto Jew)
I don't see how this solves anything. What stops the flunkee from walking away from his debt

What prevents you from walking away from your mortgage? Nothing except a bad credit rating…So you walk, and the NEXT bunch of people get to demonstrate that they have a proficiency in certain areas necessary for “success” in the chosen fields…either NO Calculus scores=no pre-med loan OR no calculus scores=25% higher interest rate….

Chip S. said...

Schools that had only engineering & hard science programs could outcompete the universities that offered everything and which subsidized the less valued programs.

I don't follow you. The effect of means-tested loan repayment is to subsidize humanities and tax engineering. Stand-along engineering schools would have to lower their tuition in order to compete. Humanities programs would advertise the fact that their graduates hardly have to repay any loan debt at all.

BESr said...

Not unemployed and asking for even more handouts.

Look at the 99% Tumblr feed. They’re not looking for handouts or redistribution. These folks aren't looking to overthrow capitalism, they want jobs; they want to work. They want to be a part of the capitalist system not be owned by it - the freedom a free market system is supposed to provide, not to be held in bondage to a system in which they have no control. Wall Street and K Street are hoarding, while we fight for the scraps.

Joe said...

(The Uncredentialed, Crypto Jew)
didn't you get the labor theory of value like back in Shekels U? Not the sames as Karlo Marx's version, but related--..Traders/brokers/financiers don't produce anything of value, except perhaps a trivial service

Tell me about their “trivial services” when you apply for a loan, for a car, house or business….not like you’re going to move out of mom’s basement for a while, but there’s some hope that she’ll eventually make you move or start charging you rent….

mishu said...

J,

There were two tax brackets at the end of Reagan's term. 28% and 15%. I'm on board. Let's set the income tax rates like that.

Joe said...

(The Uncredentialed, Crypto Jew)
Humanities programs would advertise the fact that their graduates hardly have to repay any loan debt at all

No they’d have to advertise that they’re humanities students had to pay higher interests rates on degrees that were not valued….

Chip S. said...

What prevents you from walking away from your mortgage? Nothing except a bad credit rating

Joe, you know perfectly well that the reason a mortgage market exists is because the loan is secured by the property. Otherwise, people would be very happy to let their credit rating take a hit in exchange for a free house.

You also know that the financial crisis was the result of lots and lots of people walking away from underwater mortgages. So clearly the threat of a bad credit rating is insufficient to deter this.

What you may not know is that federal regulators are now trying to prevent banks from setting their interest rates on new mortgages in a way that reflects people's credit ratings. That's Elizabeth Warren's innovation.

Chip S. said...

No they’d have to advertise that they’re humanities students had to pay higher interests rates on degrees that were not valued…

So, you really don't understand credit markets at all, I guess. Charging a higher interest rate increases the probability of default on a non-recourse loan.

Also, you don't seem to comprehend that the comment you're quoting is directed at the proposal for means-tested loan repayment.

Hoosier Daddy said...

"... Wall Street and K Street are hoarding, while we fight for the scraps..."

Jobs will return when people begin consuming again. Until then, a good chunk of people are deleveraging instead of consuming.

Joe said...

(The Uncredentialed, Crypto Jew)
You also know that the financial crisis was the result of lots and lots of people walking away from underwater mortgages

No the crisis occurred before….however, a third party loan system, market-based IS a better route…it would discount Madonna Studies degrees and rate your “credit-worthiness” to sign up for Pre-Engineer or Pre-Med…and since EVERYONE would do so, under your theory…the rates charged WOULD be high, because suddenly there would be a “Glut” of engineers and doctor’s in the offing…whereas Humanities would be under-served and hence have lower interests…the market stabilizes and corrects.

Joe said...

(The Uncredentialed, Crypto Jew)


Well Chip I’m just saying pay your own way to college….Costs have risen because of demand increases, irrespective of return…a Bubble…and the fact that colleges don’t hold costs down…I’m just trying to suggest a loan-based approach that helps bring some market reality to bear….you pay for what you get…a Madonna Studies Degree is worth LESS than an EE Degree…and either you pay less for it or you pay a higher interest rate….You make the point that EVERYONE would sign up for EE/Pre-Med…and so that means a large demand chasing a FINITE supply, and hence very high interest rates or high costs….either way you weed out the Madonna Studies Majors trying to get in on “cheap” loans….

J said...

Yr in you mom's basement ,JoeJoe the panderer? Sad, puerco

YOu don't know f*ck about economics, do you JoeJoe perp. Or American history (ie,Jefferson's opposition to Hamilton's finance schemes--and Jeff. was no RonPaul as some chi chi lib-ralls and conservatives insist). It's not the loan salesman's decisions anyway, it's the underwriter's henchman. And those of us with a credit union connection don't deal with swine such as you and yr cronies in Bloombergville.

Chip S. said...

@Joe--There are plenty of incentives right now not to major in "Madonna Studies." They are that you're taking out a non-dischargeable debt and not pursuing a course of study that will enable you to pay it off and still have a decent life.

You think that substituting the lender's judgment about future employment prospects for the borrower's judgment will solve whatever problem it is that we now have. I think that what would happen instead is that there would be an outcry over the unfairness of forcing noble humanities majors to pay high interest rates on their debt while rich doctors and engineers pay low rates. The fact that these rates may have been agreed to at age 18 would simply be proof that evil bankers were preying on unsuspecting young people.

You'd substitute one form of whining for another.

edutcher said...

We may have to review which one really is the Stupid Party.

Suddenly, the Demos love OccupyWherever.

Joe said...

(The Uncredentialed, Crypto Jew)
And those of us with a credit union connection don't deal with swine such as you and yr cronies in Bloombergville

No because Credit Union make their own money…and have NO connection to the larger universe of money….

Joe said...

(The Uncredentialed, Crypto Jew)


Chip you’re going to have whining from the Madonna Studies Majors, no matter what…that’s what OWS is ALREADY…just make them pay their own freight…either in terms of tuition or interest rate….we ALREADY subsidize the Madonna Studies Majors, because there’s no differential rate for an EE Major or a Madonna Studies Degree…the question is which one do you chose as a BA or which one accepts you into a Graduate Program…my proposal limits the number of Madonna Studies majors to the stupid, the committed or the rich (who can pay their own way or the higher rates)…..

bgates said...

Imagine that as a general principle: We should to back off from criticizing people who have good intentions, even when the adopt means that cause collateral damage, even when those means aren't even likely to get us to the pretty goals they have in mind.

These are exactly the people we need to expose and criticize!


And vote for!

J said...

Was that yr major JoeJoe the Randian? With like a minor in white collar crime or something.(--Miss Madonna not exactly too kosher either) No wonder you spend yr days spamming away at Aynhouse from your mom's basement.

Re yr usual overgeneralized brainfarts--let's see the demographics on the protesters educational background,Einstein, or STFU.

Hoosier Daddy said...

It was my understand that for profit schools had to report job placement figures to justify offering programs. Don't state and private colleges have to do the same or can they crank out as many Journalism and English majors as they want?

Joe said...

(The Uncredentialed, Crypto Jew)
Re yr usual overgeneralized brainfarts--let's see the demographics on the protesters educational background,Einstein, or STFU

Gee we know they are overwhelmingly WHITE and of college-age….and they aren’t talking about more money for STEM…but if you have any proof that they AREN’T Madonna Studies Majors taking time off or being unemployed with heavy debt, get back to me. Because all the ones I see sure look like the “Socially Concerned Students (Dimwits) from my College…and I note they want “free college” and “debt forgiveness” hardly hallmarks of folks who have great job prospects from their degrees….

And I have a degree in the Humanities…and luckily I have a job….I don’t say that a Madonna Studies Degree is TOTALLY worthless, but you don’t see me whining about my prospects, I knew it was a relatively worthless degree when I got it….

Brian O'Connell said...

You think that substituting the lender's judgment about future employment prospects for the borrower's judgment will solve whatever problem it is that we now have.

In other types of loans, such as home mortgages, the loan would happen or not depending on the joint judgment of the borrower and lender. No home lender would shell out $100k for a $10k home. Lenders also consider the borrower's potential to pay. (Fannie and Freddie aside.)

The current set-up for student loans tends to push those considerations aside, because the lender is forced to pay regardless of circumstance.

Freeman Hunt said...

Occupy Wall Street's most annoying aspects are its incoherence and illogic.

Tea Party want lower taxes and more responsible spending.
Anti-war people want the war to end and troops to come home.
PETA people want animals to not be killed or kept as pets.
Etc.

I may not agree with all of those, but their demands are, at least, coherent, and they are logical on the basis of each group's views.

Occupy Wall Street, on the other hand, makes no sense at all. "We want to destroy corporations to give people jobs!" Huh? "We want more union control and fewer banks so that there will be more jobs!" Excuse me? "We want to destroy the economy to make everyone richer!" What?

This is my generation. This is where Boomers failed. You guys raised entitled, superficial morons. (With some exceptions, of course.)

But really, let's face it. My generation is not one of deep thought and critical thinking. My generation is one that thinks its owed--for, it seems, no reason at all. It's the generation that believes in never-ending amusement as its highest value and being clever as its highest virtue. It makes no difference why you think what you think, only that you think what all the right thinking people think too.

I'm not sure where you begin to fix that.

Chip S. said...

AFAIK, there is nothing that prevents any lender from writing any of the alternative student-loan contracts being proposed here. They just couldn't be federally sponsored student loans.

So, if nondischargeable loans are so unattractive to borrowers, and if these other loans are so easily for lenders to implement, why aren't they being offered?

Freeman Hunt said...

If the Occupy Wall Street people are pissed about bailouts, why are they on Wall Street? Why aren't they in Washington where the people are who made the bailouts happen?

Brian O'Connell said...

Because nondischargable loans are too attractive to lenders. This is the artificial, govt-imposed element that distorts the market.

Joe said...

(The Uncredentialed, Crypto Jew)
They just couldn't be federally sponsored student loans

EXACTLY, Chip…because the Fed’s offer “cheap, no strings attached money” we have lots of folks getting Madonna Studies Degrees…again END THE FEDERAL PROGRAM…let people borrow on the earning power of the degree and watch the number of scholarships and cost and loan incentives rapidly reduce the Madonna Studies posse to a minimum, and watch more folks go into Business, STEM or the like…as it is now, you might as well be a Madonna Studies major…

Add in the fact that the Fed’s “juke” up the student loan amount by 3-4% per year irrespective of need and you have a recipe for ever climbing college costs and a over-supply of Madonna Studies majors.

Freeman Hunt said...

Additionally, the idea that you're going to make tax revenue even more dependent upon the ultra rich and, at the same time, make the government less cozy with the ultra rich is pure fantasy.

Joe said...

(The Uncredentialed, Crypto Jew)
If the Occupy Wall Street people are pissed about bailouts, why are they on Wall Street? Why aren't they in Washington where the people are who made the bailouts happen

Freeman NYC is a “happenin’ place” DC not so much…and the hot babes and good drugs are in NYC…who wants to hook up with Charlie Rangel? Lastly, you’re using Dead White European Male Logic and Disputation, these are archaic patriarchal, culturally Imperialistic artifacts, that we in the Madonna Studies Area categorically REJECT, in favour of a more holistic, Gaia-centred, Other-Regarding Sense of Understanding and Knowing….*SHEESH* womyn what’s wrong with you?

Scott M said...

Joe,

Your excess heat is escaping into space quicker than NASA previously thought.

sorepaw said...

That way we don't have to spend all our time talking about their stupid shit.

With such poor-quality programming, the unit has so little of its own to talk about.

Joe said...

(The Uncredentialed, Crypto Jew)
Your excess heat is escaping into space quicker than NASA previously thought

*WHOA* So should I be concerned about cooling or over-heating? Will there be a UN-sponsored Conference? Will there be lobster? These are the important questions? Can I get a degree or at least a loan for a degree in Excess Mental Heat Capacity and its Effect on Womyn, Gays, Lesbians, Bi-Sexuals, the Trans-Gendered and the Poor? Does the excessive heat loss make me a larger target for zombies? Or Zombie-ALIENS? Man that’s a genre not explored by Hollywood, yet… ATTACK of the Zombie Aliens from Outer Space! Or Bikini Beach Zombie Alien Attack! *WHOA* Again I have got to get these ideas down and a treatment sent off….

J said...

give 'em a look-over, JoeJoe Nixon---ratty, grungy, not wearing pin stripe suits. Thus their ideas must be all wrong as well. Actually like yr hero Bloompig, you've moved from Ayn Rand to...WF Buckley-like brainfarts, Joejoe. Why, the mere rabblement, interfering with commerce--send in the troops and remove them.

sorepaw said...

The Democratic Congressional Campaign Committee has now endorsed Occupy Wall Street:

http://www.dccc.org/pages/occupy

This is going to get interesting.

Scott M said...

Will there be a UN-sponsored Conference?

Yes, but manbearpig will decide to go and it will get snowed out.

Joe said...

(The Uncredentialed, Crypto Jew)
give 'em a look-over, JoeJoe Nixon---ratty, grungy, not wearing pin stripe suits. Thus their ideas must be all wrong as well

Well it’s true that they are OBVIOUSLY a bunch of dope-smoking, plastic banana good time types, from the their dress alone, BUT their “demands” are incoherent and laughable….so it’s not just the long hair and grungy attire, it’s the STUPIDITY, too….smelly stupidity is worse than well-dressed and well-groomed stupidity J….

Joe said...

(The Uncredentialed, Crypto Jew)
Yes, but manbearpig will decide to go and it will get snowed out

LOL either that or Obama will publicly endorse and visit the conference management company and praise them as the sort of 21st century jobs America needs…and then they’ll go bust the next week….probably with $100 million in US taxpayer loans.

sorepaw said...

didn't you get the labor theory of value like back in Shekels U?

If whacked-out street bums could expound antiquated economic theories, they would sound like J.

Next we'll hear J's spitting diatribe against the lending of money at interest.

Long live the Marginal Revolution!

J said...

To you the demands seem ludicrous, Joejoe Neo-con. Not to them, or others not involved in the white collar crime biz, or the sons of wealthy panderers. Everything's relative ,dewd

Scott M said...

probably with $100 million in US taxpayer loans.

If that happened, it would show marked improvement in the administration's competence.

Joe said...

(The Uncredentialed, Crypto Jew)


Well I’m off to ask, “Would you like fires with that?”.

Scottm IF I see, in the Straight to DVD Aisle either ATTACK of the Zombie Aliens from Outer Space! Or Bikini Beach Zombie Alien Attack and your name attached in any way, shape or form, my Lawyer and I will pursue you to H3ll’s gate, itself……

J said...

Sorepaw Buggaly defending the right again. How surprising, AZz masonic swine--


You don't know shit about economics, whether Smith, or Keynes, or the LTV. wow the marginal revolution--you mean the right to rip people off, maybe with some bogus chiropractic gear? You don't know shit about Marshall either. One year of Nursey studies at Casa Grande doesn't mean fock hijo de puta. Buh bye to you, perp.

Scott M said...

my Lawyer and I will pursue you to H3ll’s gate, itself……

Outer Space Zombie Aliens Attack! and Zombie Aliens In Bikini's Attack are both currently in production, neither of which do you get credit for as they were examples of convergent development.

Joe said...

(The Uncredentialed, Crypto Jew)
Zombie Aliens In Bikini's Attack

NO ONE is going to want to see Zombies in bikinis…

J said...

Bloomberg's one of the chief devils of the Earth. Thats yr econ. lesson for today, Alt-tards

Scott M said...

"Dead Island" actually makes zombies in bikini's empathetic characters. They still get a cleaver in the mellow, but you could tell they were once hawt.

Scott M said...

Mellon. Nobody ever killed a zombie by hitting it in the mellow.

Scott M said...

Dirtysmellyhippies, on the other hand...the mellow is right where you want to aim.

J said...
This comment has been removed by the author.
J said...

Yo Misss Hunt:

check traditional catholic teaching on ...Usury.. Then start over.

Aquinas himself was against BloombergCo

Michael said...

J: Wikipedia is not where you go to check out usury and Catholicism. Just a head's up. You are looking particularly stupid today.

NYTNewYorker said...

Garage said...

"I would just call it "raising taxes on rich people". They don't "pay almost all taxes now" anyway."

The TOP 1% pay 39%, up 2% from 2000 when President Bush took office.

The TOP 50% pay 97% of all income taxes.

Wall Street Journal: "In 1980, when the top income tax rate was 70%, the richest 1% paid only 19% of all income taxes; now, with a top rate of 35%, they pay more than double that share."

WV: gocha

David-2 said...

My guess is that this whole movement is born of the disillusionment by some that Obama hasn't cause the rise of the oceans to slow nor the the planet to begin to heal.

Actually, he did cause the rise of the oceans to slow.

There's certainly correlation. That's the same as causation, right?

Matt said...

The Koch brothers back the Tea Party so let's stop pretending like any grassroots group is really grassroots.

Joe said...

(The Uncredentialed, Crypto Jew)
The Koch brothers back the Tea Party so let's stop pretending like any grassroots group is really grassroots

The Old, “Everyone does it so, there’s nothing wrong” Leftist meme..you wanna produce any cheques from the Koch Brothers? I do see that he WFP is offering a weekly stipend, to pay for OWS types….

showbiz111 said...

40,000 nyc households pay for 90 percent of NYC welfare state programs (tax revenues). These are all the people that the OWC are trying to behead, and if they decide to leave NYC, it would become another Detroit, and all those union supporters will suddenly have none of their jobs or salaries paid for. But that is an insignificant detail to OWC and the democraps/socialist (redundant) supporters of this astroturf thuggery.

showbiz111 said...

BTW the NY Working Families Party (oxymoron alert) has been advertising on Craigslist for the past couple of weeks to employ people to protest at OWC events, at the rate of $350-600/week. If that doesn't say authentic movement like the Tea Party then you must be a racist one percenter.
BTW the whole 99 percenter is such a travesty of propaganda that republicans should laugh anytime that claim is made. At most these vile excreants represent ten percent of the population (the extremist half of the 20% liberal base)

J said...

Mikey Chandala did I say wiki? No. But the wiki has info. AS does the New Advent. Or the Summa itself and other sources--or various NT sections as well. Wasn't referring to you anyway, white collar perp.


Bloomberg...es con El Diablo. Harsh but that's RCC tradition on usury (compound interest in particular, Miss Hunt.)

Joe said...

(The Uncredentialed, Crypto Jew)


So “J” you oppose Same Sex Marriage and Abortion, as well..because the RCC is pretty clear on those, or do you just pick and choose the Church positions you like?

sorepaw said...

wow the marginal revolution--you mean the right to rip people off, maybe with some bogus chiropractic gear?

J,

More malignant ignorance on display.

Go wiki Carl Menger, William Stanley Jevons, and Léon Walras.

Who knows?

You might learn something for a change.

Pragmatist said...

So lets summarize...it is OK if the so called Tea Party protests Wall Street but not the current group of "Angry American Voters"? One group is "The American People" while the other group is "that bunch of rag tag hippy lefties"? Both are citizens and taxpayers (OK the unemployables of the Tea Party and the living-in-their-moms-basement hippies might not pay much taxes but at least they can pretend they do for now), both are mad at the "bail out"? Both supposedly want Wall Street to pay up. Or is it that the Tea Party is a shill for the Right and wants to put all the blame on Obama and the Dems and does not really want to reform WS but instead demogoge the issue for political reasons. Now that the left is saying "OK, we agree, no more bailouts, or too big to fail...lets get rid of the fat cat bankers" the Tea Party is in the defend Wall Street camp. Lets see the Reps put their votes where their mouths are....where is that anti-bailout, anti-wall street legislation?

Kirk Parker said...

Maguro,

".... University of Puget Sound... UW-Tacoma..."

Whoa--you from around Puget Sound somewhere?


Chip S., MadMan,

If only it worked that way. Alas, our son who went to the real UW (sorry, Althouse, MadMan, Garage.. I mean of course the West Coast one) cost us the most out-of-pocket. Those who went to private school got more grant aid, enough to make up the difference between the higher tuition vs the state school. The one who went to the highest-priced college--highest list price, that is--ended up costing us the least.

jamboree said...

I thought Bloomberg's comments were hilarious - they were so incredibly pedestrian. I thought he was going to start lecturing about eating one's vegetables. Tourism? Christ. Way to turn into a backwater.

A lot of these people are in the "dreamer" category because they are young - that's all. They have their whole lives to be paying back TARP and its beneficiaries and believe me, they will. (I benefitted from TARP indirectly in that I'm a bond holder.)

I also have relatives that were exec engineers working for those who worked those kind of deals for Bechtel and similar in the ROW. Believe me, it's not a deal you should be proud went down in the USA. It Was. A. Bad. Deal. worthy of a Imperial Power bullying and bribing a Banana Republic.

They are incoherent in their response only because it will take them a lifetime to realize how badly they got screwed. Then they can join the Tea Party.

It's frustrating to see both sides (Occupy and Tea Party) being manipulated into falling for the partisan line on this and taking what pleasure they can in belittling the aims of the other.

J said...

Go wiki Keynes, Nursy Sorepaw on problems with speculation--ie, the original topic, not your Think and Grow Rich pseudo-economics. ( marginalism's mostly utilitarian hype--google Bentham and dumbass). Marshalll himself was not always ..a gung-ho capitalist (held to interventionism at times) and was aware of labor, unlike you bunko-boy

wildswan said...

Trying to articulate the Occupy movement.

Romper Room Meets Lord of the Flies

Or have you noticed how there's a lot of excitement with ways and means and even goals in soft focus? Where have I seen that before? Was it 2008? Yes. It was.

Son of Hope and Change

We are the ones we've been waiting for - the sequel.

Canuck said...

"Tuition and board at a middling private liberal arts college like the University of Puget Sound run close to $50K per academic year."

This doesn't happen in Canada. Tuition is much cheaper, and students can discharge their loans after 7 years.

If young Americans are truly in this kind of debt, it's not surprising that the US housing market is in trouble. To get the U.S. economy going, the new generation has to be able to buy houses, cars, washing machines, and more.

Synova said...

I don't think it's a good rhetorical device to say that one side *wants* the consequences that the other side thinks will result. I have some really stupid campaign emails from the Democrat here saying that the Tea Party *wants* to destroy America.

I don't see anything good about this tactic.

OTOH, is Bloomberg doing that?

Or is he right to say that the Occupy Wall Street people *want* to put a great big damper on the financial industry? Do they *want* to see some of these companies fold, or at least down-size?

It might be right to say that this is what they *want* to do.

Synova said...

So.

Is there any reason AT ALL for any financial or information based enterprise to have a physical office in New York City?

Ignorance is Bliss said...

Pragmatist said...

Lets see the Reps put their votes where their mouths are....where is that anti-bailout, anti-wall street legislation?

You miss the Tea Party by a mile. They are not anti-Wall Street. They are anti-bailout. They do not see a need to punish Wall Street. They just don't want tax-payer funds diverted to them.

And, while the Tea Party leans strongly to the right, they've have plenty of criticism of big-government Republicans.

sorepaw said...

marginalism's mostly utilitarian hype--google Bentham and dumbass).

J on display, for all to see.

I hope Jared Lee Loughner doesn't have Internet access in the mental institution where is presently confined.

HDHouse said...

Tank said:
"LOL. Ann provides a service that many of us are quite happy to help support."

Well now that we know who you are and what she is it would seem that the only issue would be one of price.

new york said...

I went to OWS yesterday and I watched and I listened to what they had to say. Today I read the comments here. Your attempts to ridicule them reflect badly on you. Reflect for a moment about how you can make this world a better place.

sorepaw said...

I watched and I listened to what they had to say.

What did they have to say?

And how would carrying out the measures they advocate make the world a better place?

Michelle Dulak Thomson said...

J,

Raise taxes on the wealthy, control speculation (ie, the shekelsmeisters earning millions by trading gold, oil ,stocks, etc), student loan reform , free college education, demands for work--rather specific, reasonable demands. That some protesters have tats and are a bit grungy --Nixonites said the same about hippies.

J, you need to read the whole list of demands. It included open borders; a minimum wage of $20/hr (apparently whether you work or not, since a guaranteed living wage irrespective of employment was in there too); a couple of trillion dollars of new spending, half of which appeared to go towards dismantling all nuclear and hydroelectric power, with a contradictory demand to get rid of all fossil fuel use as soon as possible; making credit reporting agencies illegal; and my favorite: not forgiveness of student loan debt (Steyn was too kind here), but forgiveness of all debt owed by anyone to anyone on the entire planet. Obviously there must be someone somewhere with the power to command that.

And so on. And on. It's only fair to the rest of the protesters to say that the comments on that piece mostly described it as bollocks on stilts.

wv: gradnede. No, really.

Michelle Dulak Thomson said...

Freeman Hunt: Brava to everything you've said on this thread.

wv: distinet. Yep. "Dis' de Net!"