tag:blogger.com,1999:blog-3397167328061019765.post572516034162264083..comments2024-01-16T03:55:26.266-05:00Comments on Welcome to Pottersville 2 (Blogging Against Fascism!): U.S. Giveaway Has New Twist? "Watered Treasury Bonds" Created For the PublicCirzehttp://www.blogger.com/profile/07070125217972397204noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3397167328061019765.post-18190725135427940092009-02-05T01:51:00.000-05:002009-02-05T01:51:00.000-05:00And thus one of the best, the Economics Penguin, c...And thus one of the best, the <I>Economics</I> Penguin, chimes in to straighten out my wayward readers' perceptions governing the inflation of the value of debts by the deflation of currency causing<BR/><BR/><I>consumption to drop, which in turn causes more deflation as owners of excess commodities are forced to cut wages and prices in order to get rid of their excess commodities</I><BR/><BR/>which is why the deflationary spiral we are currently experiencing is just "peachy keen" for those who caused it and benefit from it.<BR/><BR/>As if this is new news.<BR/><BR/>Thanks, Tuxy, you are my favorite "splainin'" penguin.<BR/><BR/>SCirzehttps://www.blogger.com/profile/07070125217972397204noreply@blogger.comtag:blogger.com,1999:blog-3397167328061019765.post-88641557337301628262009-02-03T20:00:00.000-05:002009-02-03T20:00:00.000-05:00A word of terminology correction: The inflation in...A word of terminology correction: The inflation in real terms of the value of debts as the currency deflates is, well, debt INFLATION. That is, deflation inflates the real (as vs. nominal) value of debts, causing said debts to corral an increasingly large portion of the national income and thereby cause consumption to drop, which in turn causes more deflation as owners of excess commodities are forced to cut wages and prices in order to get rid of their excess commodities, wash, rinse, repeat. <BR/><BR/>Which is why deflationary spirals are just peachy-keen for oligarchs to use to transfer wealth from the debt-owing class (i.e. us) to the debt-owning class (i.e. them). Especially since they just passed a law prohibiting most of us from declaring bankruptcy and thereby managing to get out of unpayable debts. Instead, we must sell them (or have repossessed from us) our assets for pennies on the dollar...<BR/><BR/>- Badtux the Economics PenguinBadTuxhttps://www.blogger.com/profile/01345749557330760251noreply@blogger.comtag:blogger.com,1999:blog-3397167328061019765.post-56513004139622042752009-02-02T17:01:00.000-05:002009-02-02T17:01:00.000-05:00I saw Jimmy say that to Charlie too. And thought "...I saw Jimmy say that to Charlie too. And thought "So everyone's in on the con game." I was also disappointed. And don't worry about my choice of economists. They are the paragons of education and integrity. Go ahead. Look them up. Mauldin is so afraid of the coming bad times that he abandoned shop, found a cheap complex in Tx (no less) and moved his whole operation and family in. Says he thinks he can ride out the next years there.<BR/><BR/>Thanks for your "bitter" comments!<BR/><BR/>SCirzehttps://www.blogger.com/profile/07070125217972397204noreply@blogger.comtag:blogger.com,1999:blog-3397167328061019765.post-15249787131714287802009-02-02T15:09:00.000-05:002009-02-02T15:09:00.000-05:00With all of your waxing eloquent, I'll have to res...With all of your waxing eloquent, I'll have to research your other mentions. I'm more than a bit skeptical of economists as those pushed to the forefront tend to be shills for some perverted scheme or another.<BR/><BR/>BTW, I watched the Charlie Rose/Carter segment and was disappointed when Carter claimed not to be interested in seeing a prosecution of BushCo should it be proven that they knowingly lied about Iraq and WMDs. I would like to have been a fly on the wall during a frank, private discussion of that issue...<BR/><BR/>Bitter penance indeed.Dr. Knowhttps://www.blogger.com/profile/08035212475787264261noreply@blogger.comtag:blogger.com,1999:blog-3397167328061019765.post-37249165503158711272009-02-02T11:07:00.000-05:002009-02-02T11:07:00.000-05:00Thanks, Greg,It's been a while since I've quoted o...Thanks, Greg,<BR/><BR/>It's been a while since I've quoted our Precious Professor Paul - and you know how much I admire his judgment. (And don't you think PO should have picked him instead of Summers or Geithner - saving us tons of indigestion and political upset?) His prose has revealingly personified how we must hold our mouths after partaking of this bitter penance.<BR/><BR/>Michael Hudson is another favorite of mine - so passionate and literarily inspired in his depictions of our plight. He doesn't get enough print in my opinion.<BR/><BR/>And John Mauldin is so sweetly <I>amusing</I> with his absentminded professor pose as he paints our profound malaise with such dulcet tones that even Jimmy Carter would be piqued.<BR/><BR/>Thanks again for your comment.<BR/><BR/>Love ya,<BR/><BR/>SCirzehttps://www.blogger.com/profile/07070125217972397204noreply@blogger.comtag:blogger.com,1999:blog-3397167328061019765.post-10442012547515382492009-02-02T08:29:00.000-05:002009-02-02T08:29:00.000-05:00I believe Paul Krugman calls this "lemon socialism...I believe Paul Krugman calls this "lemon socialism".Dr. Knowhttps://www.blogger.com/profile/08035212475787264261noreply@blogger.com