MY COMMENT: Paul Krugman is a sociopath, who lacks any shame or guilt. He has made "the science" of Economics equal to the "the science" of astrology. [more]
"While prices of goods and services can rise an infinite amount, the most prices fall is 100%, to zero. Of course bids on a piece of property could turn negative if a toxic waste dump was found on a site. However, Obama is discussing HealthCare, not liabilities associated with toxic waste cleanup.
Assume, you pay $5,000 a year for health insurance. To see a 3000% drop, your healthcare provider would have to pay you $145,000 to take the insurance.
This is not FantasyLand, the Twilight Zone, or Bizarro World where health care has a negative cost and providers pay you to take coverage. Therefore, president Obama is either disingenuous or in serious need of remedial math lessons.
A friend just pinged me to remind everyone that the president also needs remedial education in regards to upholding the constitution." [more]
Since 91% of stocks are owned by the Plutocracy, the much-ballyhooed rise in the stock market as proof the recession is over is perception management/ propaganda.
The 75% rise in the stock market from its lows a year ago is ceaselessly offered as "proof" the economy is recovering. Too bad very few Americans are drawing any benefit from this stupendous rise. As I detail below, the Great Middle Class owns at best only 7% of all stocks and mutual funds.
So the constant, breathless heralding of the stock market's carefully manufactured ascent has only one purpose: to create perceptions of "recovery"and distract the populace from the fact that in terms of empoyment and tax revenues, the U.S. economy is still shrinking rapidly. [more]
oftwominds has a great write up....The Keynesian Project Is Psychotic [more]
Paul Farrell breaks ranks and speaks against his own interest. Aligned. here: [more]
Winter Mind Games By James Howard Kunstler
on March 1, 2010 6:35 AM XX
Does anyone know exactly how the Winter Olympics got hijacked by the Canadian Hotel Housekeeping Employees Union? Every time I turned the damn thing on, there were these ladies uniformed in manual labor casuals shoving teakettles across the floor while other ladies madly polished the forward path of said sliding kettles with Swiffer© sweepers. At least this was the first Olympiad to be dominated by Proctor & Gamble instead of some obnoxious Great Power nation with a political agenda. The NBC execs must have loved this weird new sport, because it was practically all they put on the air.XX
My own interest in tea kettle shoving waned over the days, and a good thing too, because along came President Obama's Health Care Reform Summit Meeting on Thursday to engage the whole nation in a rousing Olympiad of mind games, including a round-robin version of The Spanish Prisoner, a mixed set of the Republican Pigeon Drop, and variations on the Nigerian Lottery scam, with touches of the Madoff Ponzi Gambit here and there. After a few hours of that, one longed for the simple mindless bliss of tea kettle shoving, if only to relieve the headache.XX [more]