Hambone v3.0

The Unaconomist Calls for Stagflation to Fix our Economic Woes

No matter how blue I get I can always count on Paulie K to cheer me up:

What would a real response to our problems involve? First of all, it would involve more, not less, government spending for the time being — with mass unemployment and incredibly low borrowing costs, we should be rebuilding our schools, our roads, our water systems and more. It would involve aggressive moves to reduce household debt via mortgage forgiveness and refinancing. And it would involve an all-out effort by the Federal Reserve to get the economy moving, with the deliberate goal of generating higher inflation to help alleviate debt problems.

Spend more money we don’t have? Buy houses for people who reneged on their obligations? But my favorite is deliberately cause higher inflation. That’s gotta be a new low even for Paulie K. For those of us who remember the late ’70s, higher inflation during periods of low economic growth is called stagflation. And he wants do deliberately cause it??? How does this guy keep his job?

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36 responses to “The Unaconomist Calls for Stagflation to Fix our Economic Woes”

  1. Shannon Avatar
    Shannon

    The guy’s a genius, Hammie.

  2. Shannon Avatar
    Shannon

    The guy’s a genius, Hammie.

  3. mharper42 Avatar
    mharper42

    people who reneged on their obligations

    60 Minutes once did some interviews with sub-prime mortgagees who were losing their houses. One dude I remember in particular clearly had not understood any part of the homeowner obligation, aand for sure, didn’t understand money or finance. He said he signed up for “the program” because it put his family in a nice house in a nice neighborhood.

  4. mharper42 Avatar
    mharper42

    people who reneged on their obligations

    60 Minutes once did some interviews with sub-prime mortgagees who were losing their houses. One dude I remember in particular clearly had not understood any part of the homeowner obligation, aand for sure, didn’t understand money or finance. He said he signed up for “the program” because it put his family in a nice house in a nice neighborhood.

  5. wagonburner Avatar
    wagonburner

    Looks like the NYT thinks our economy needs inflation too.

    The focus on combating inflation at a time when the economy is clearly not overheating and when oil prices are retreating is akin to Washington’s fixation on spending cuts when the economy is weak. Both are a fundamental misreading of what the economy needs.

    So does the losingest presidential campaign manager in history:

    Finally, there are the inflation hawks at the Federal Reserve who are resisting the full exercise of the Fed’s powers, which are pretty much the only remaining tool to sustain a recovery. In addition to blocking fiscal stimulus — even modest proposals for a payroll tax cut and extended unemployment compensation — congressional Republicans are reinforcing the inflation hawks and working overtime to intimidate the Fed and immobilize monetary policy.

  6. Hamous Avatar
    Hamous

    Looks like the NYT thinks our economy needs inflation too.

    The focus on combating inflation at a time when the economy is clearly not overheating and when oil prices are retreating is akin to Washington’s fixation on spending cuts when the economy is weak. Both are a fundamental misreading of what the economy needs.

    So does the losingest presidential campaign manager in history:

    Finally, there are the inflation hawks at the Federal Reserve who are resisting the full exercise of the Fed’s powers, which are pretty much the only remaining tool to sustain a recovery. In addition to blocking fiscal stimulus — even modest proposals for a payroll tax cut and extended unemployment compensation — congressional Republicans are reinforcing the inflation hawks and working overtime to intimidate the Fed and immobilize monetary policy.

  7. Super Dave Avatar
    Super Dave

    He won a Nobelly Prize, but then so did our President, so I guess that’s no longer a resume enhancement. Now Algore not only won a Nobelly, but also an Oscar – now that really starts to mean something at that level. However, Elmer Fudd would probably have a better idea about how to fix things than these clowns.

  8. El Gordo Avatar
    El Gordo

    He won a Nobelly Prize, but then so did our President, so I guess that’s no longer a resume enhancement. Now Algore not only won a Nobelly, but also an Oscar – now that really starts to mean something at that level. However, Elmer Fudd would probably have a better idea about how to fix things than these clowns.

  9. GJT Avatar
    GJT

    G’Morning all

    I can always count on Paulie K

    /retches on keyboard

    Where do I send the invoice for the new one?

  10. OletimerLin Avatar
    OletimerLin

    G’Morning all

    I can always count on Paulie K

    /retches on keyboard
    Where do I send the invoice for the new one?

  11. GJT Avatar
    GJT

    These guys get a special place in heaven. God bless them for giving their lives for us.

    Portraits of Navy SEALs killed in helicopter crash
    Aug 12 05:56 AM US/Eastern
    By The Associated Press

    The American troops who died aboard a downed helicopter in Afghanistan came to the special forces from far-flung corners of the country, some motivated by the Sept. 11 terrorist attacks. They were intensely patriotic and talented young men with a love of physical challenges and a passion for the high-risk job they chose.

    Thirty Americans and eight Afghans were killed last Saturday when a rocket-propelled grenade fired by a Taliban insurgent downed their Chinook helicopter en route to a combat mission.

    The Pentagon on Thursday identified the Americans as 17 members of the elite Navy SEALs, five Naval Special Warfare personnel who support the SEALs, three Air Force Special Operations personnel and an Army helicopter crew of five.

    All but two of the SEALs were from SEAL Team 6, the unit that killed Osama bin Laden, although military officials said none of the crash victims was on that mission in Pakistan against the al-Qaida leader.

    Here are the stories of some of the fallen:

    Photos and bio’s:

    http://www.breitbart.com/article.php?id=D9P2FHLG0&show_article=1

  12. OletimerLin Avatar
    OletimerLin

    These guys get a special place in heaven. God bless them for giving their lives for us.

    Portraits of Navy SEALs killed in helicopter crash
    Aug 12 05:56 AM US/Eastern
    By The Associated Press
    The American troops who died aboard a downed helicopter in Afghanistan came to the special forces from far-flung corners of the country, some motivated by the Sept. 11 terrorist attacks. They were intensely patriotic and talented young men with a love of physical challenges and a passion for the high-risk job they chose.
    Thirty Americans and eight Afghans were killed last Saturday when a rocket-propelled grenade fired by a Taliban insurgent downed their Chinook helicopter en route to a combat mission.
    The Pentagon on Thursday identified the Americans as 17 members of the elite Navy SEALs, five Naval Special Warfare personnel who support the SEALs, three Air Force Special Operations personnel and an Army helicopter crew of five.
    All but two of the SEALs were from SEAL Team 6, the unit that killed Osama bin Laden, although military officials said none of the crash victims was on that mission in Pakistan against the al-Qaida leader.

    Here are the stories of some of the fallen:
    Photos and bio’s:
    http://www.breitbart.com/article.php?id=D9P2FHLG0&show_article=1

  13. GJT Avatar
    GJT

    I think OBH’s title should be changed from President of the United States to Entertainment Director on the Titanic.

  14. OletimerLin Avatar
    OletimerLin

    I think OBH’s title should be changed from President of the United States to Entertainment Director on the Titanic.

  15. Shannon Avatar
    Shannon

    Oletimer

    There was a guy filling in for Michael Savage the other day. He spoke highly of this organization which has extended benefits to the families of all those killed in that operation, Special Forces or not:

    http://www.specialops.org/

  16. Shannon Avatar
    Shannon

    Oletimer
    There was a guy filling in for Michael Savage the other day. He spoke highly of this organization which has extended benefits to the families of all those killed in that operation, Special Forces or not:
    http://www.specialops.org/

  17. GJT Avatar
    GJT

    I have given to them before. Great organization. Another of my favorites is Navy Relief. They have been around for ages, are all an volunteer agency for the Navy/USMC. They were a tremendous help to me when I was a Corporal in the Corps and my mother was dying an extended death of colon cancer.

  18. OletimerLin Avatar
    OletimerLin

    I have given to them before. Great organization. Another of my favorites is Navy Relief. They have been around for ages, are all an volunteer agency for the Navy/USMC. They were a tremendous help to me when I was a Corporal in the Corps and my mother was dying an extended death of colon cancer.

  19. GJT Avatar
    GJT

    So when is OBH gonna throw Holder under the bus to cover his own a$$?

    Sen. John Cornyn took a stand against the gun walking that has been reported in Texas. Gun walking is a practice similar to the Bureau of Alcohol, Tobacco, Firearms and Explosives’ “Fast and Furious” operation, which is now undergoing intense scrutiny in a congressional investigation.

    Under the program, ATF agents did not intercept firearms that were suspected of going to drug cartels, but instead attempted to follow the firearms to lead them to gangs’ higher-ups. Problems arose when those firearms were later used in violent crimes and killings.

    Cornyn today sent a letter to the Senate Judiciary Committee and U.S. Attorney General Eric Holder requesting information about any gun walking operations in Texas.

    Article here:

    http://sipseystreetirregulars.blogspot.com/2011/08/another-fast-and-furious-cornyn-demands.html

    Letter here:

    http://www.scribd.com/doc/62116524/Cornyn-Letter-to-AG-Holder

  20. OletimerLin Avatar
    OletimerLin

    So when is OBH gonna throw Holder under the bus to cover his own a$$?

    Sen. John Cornyn took a stand against the gun walking that has been reported in Texas. Gun walking is a practice similar to the Bureau of Alcohol, Tobacco, Firearms and Explosives’ “Fast and Furious” operation, which is now undergoing intense scrutiny in a congressional investigation.
    Under the program, ATF agents did not intercept firearms that were suspected of going to drug cartels, but instead attempted to follow the firearms to lead them to gangs’ higher-ups. Problems arose when those firearms were later used in violent crimes and killings.
    Cornyn today sent a letter to the Senate Judiciary Committee and U.S. Attorney General Eric Holder requesting information about any gun walking operations in Texas.

    Article here:
    http://sipseystreetirregulars.blogspot.com/2011/08/another-fast-and-furious-cornyn-demands.html
    Letter here:
    http://www.scribd.com/doc/62116524/Cornyn-Letter-to-AG-Holder

  21. GJT Avatar
    GJT

    Meanwhile, Big Brother continues to make their own laws putting you on a terroist watch for doing such things as buying food, matches, water proof boxes and other such things hunters start buying before hunting season. Probably means us Hamsters are on a Terrorists Organization Group watch.

    I would put /spits here, but my mouth is frothing so bad it’s running down my chin before I can gather it up.

    FBI telegraphs fear of militias & preppers by trying to intimidate surplus stores into demanding ID for purchasing items like ammo boxes & MREs.
    FBI Handout Lists Purchase of Preparedness Items as “Potential Indicators of Terrorist Activities”.

    An FBI Denver Joint Terrorism Task Force handout being distributed to Colorado military surplus store owners lists the purchase of popular preparedness items and firearms accessories as “suspicious” and “potential indicators of terrorist activities,” instructing store owners to keep records on and report people who:

    “Make bulk purchase of items to include:
    Weatherproofed ammunition or match containers
    Meals Ready to Eat
    Night Vision Devices; night flashlights; gas masks
    High capacity magazines
    Bi-pods or tri-pods for rifles”

    The FBI handout, entitled “Communities Against Terrorism: Potential Indicators of Terrorist Activities Related to Military Surplus Stores” also instructs surplus store owners to:

    “Require valid ID from all new customers.
    Keep records of purchases.
    Talk to customers, ask questions, and listen to and observe their responses.
    Watch for people and actions that are out of place.
    Make note of suspicious statements, people, and /or vehicles.
    If something seems wrong, notify law enforcement authorities.”

    Article here:

    http://sipseystreetirregulars.blogspot.com/2011/08/fbi-telegraphs-fear-of-militias.html

  22. OletimerLin Avatar
    OletimerLin

    Meanwhile, Big Brother continues to make their own laws putting you on a terroist watch for doing such things as buying food, matches, water proof boxes and other such things hunters start buying before hunting season. Probably means us Hamsters are on a Terrorists Organization Group watch.
    I would put /spits here, but my mouth is frothing so bad it’s running down my chin before I can gather it up.

    FBI telegraphs fear of militias & preppers by trying to intimidate surplus stores into demanding ID for purchasing items like ammo boxes & MREs.
    FBI Handout Lists Purchase of Preparedness Items as “Potential Indicators of Terrorist Activities”.
    An FBI Denver Joint Terrorism Task Force handout being distributed to Colorado military surplus store owners lists the purchase of popular preparedness items and firearms accessories as “suspicious” and “potential indicators of terrorist activities,” instructing store owners to keep records on and report people who:
    “Make bulk purchase of items to include:
    Weatherproofed ammunition or match containers
    Meals Ready to Eat
    Night Vision Devices; night flashlights; gas masks
    High capacity magazines
    Bi-pods or tri-pods for rifles”
    The FBI handout, entitled “Communities Against Terrorism: Potential Indicators of Terrorist Activities Related to Military Surplus Stores” also instructs surplus store owners to:
    “Require valid ID from all new customers.
    Keep records of purchases.
    Talk to customers, ask questions, and listen to and observe their responses.
    Watch for people and actions that are out of place.
    Make note of suspicious statements, people, and /or vehicles.
    If something seems wrong, notify law enforcement authorities.”

    Article here:
    http://sipseystreetirregulars.blogspot.com/2011/08/fbi-telegraphs-fear-of-militias.html

  23. wagonburner Avatar
    wagonburner

    The open comments post is here.

  24. Hamous Avatar
    Hamous

    The open comments post is here.

  25. wagonburner Avatar
    wagonburner

    No more Cherry Pie.

    /the lead singer for Warrant was a dude???

  26. Hamous Avatar
    Hamous

    No more Cherry Pie.
    /the lead singer for Warrant was a dude???

  27. mharper42 Avatar
    mharper42

    #8 Shannon
    So you caught a little Michael Savage impersonator?

  28. mharper42 Avatar
    mharper42

    #8 Shannon
    So you caught a little Michael Savage impersonator?

  29. Super Dave Avatar
    Super Dave

    #10 – I figure OBH has decided that Senator Cornyn is a toothless guard dog so he has nothing to fear from him. As for Holder, he is just doing his master’s bidding, so there is no need to throw him under the bus, and he doesn’t care what the citizens think, so what has he got to lose. He knows no fear.

  30. El Gordo Avatar
    El Gordo

    #10 – I figure OBH has decided that Senator Cornyn is a toothless guard dog so he has nothing to fear from him. As for Holder, he is just doing his master’s bidding, so there is no need to throw him under the bus, and he doesn’t care what the citizens think, so what has he got to lose. He knows no fear.

  31. Super Dave Avatar
    Super Dave

    On another topic, I heard some supposed tea party congresscritter this morning talking on Sam Malone’s show explaining why he voted in favor of the raise in debt ceiling. He may have let the cat out of the bag when he said that he talked to all the bankers and the experts before deciding to vote in favor of the issue – in other words, he favored the bankers’ opinion over that of his constituents since his constituents are obviously too stupid to understand what is going on.

    IMHO, someone need to explain to this character that he was not sent up there to think or to seek out expert advice – he is there to represent his constituents, period. If we need to get some robots up there that can do the right thing without being influenced by the Washington powers that be, then maybe NASA could work on that since they have some time on their hands. If we need a thinker up there, we can rent one, but right now, we need a “representative.” Wouldn’t hurt to mention this to Representative Olsen as well.

  32. El Gordo Avatar
    El Gordo

    On another topic, I heard some supposed tea party congresscritter this morning talking on Sam Malone’s show explaining why he voted in favor of the raise in debt ceiling. He may have let the cat out of the bag when he said that he talked to all the bankers and the experts before deciding to vote in favor of the issue – in other words, he favored the bankers’ opinion over that of his constituents since his constituents are obviously too stupid to understand what is going on.
    IMHO, someone need to explain to this character that he was not sent up there to think or to seek out expert advice – he is there to represent his constituents, period. If we need to get some robots up there that can do the right thing without being influenced by the Washington powers that be, then maybe NASA could work on that since they have some time on their hands. If we need a thinker up there, we can rent one, but right now, we need a “representative.” Wouldn’t hurt to mention this to Representative Olsen as well.

  33. Super Dave Avatar
    Super Dave

    As long as I’m on a roll here, I’ve got another idea. Let’s see if there is a way to have some tenders or minders or whatever you want to call them to direct our revered representatives when they get off the beam. The Dems have the Union Thugs to keep them in line, so I’m just wondering if there is some Rep equivalent that could serve the same purpose for our guys. Couple that with a three strikes and your out rule (voting against the wishes of you constituents 3 times, you’re removed from office), and maybe we could get somewhere and make a little progress. Any one got some better ideas?

  34. El Gordo Avatar
    El Gordo

    As long as I’m on a roll here, I’ve got another idea. Let’s see if there is a way to have some tenders or minders or whatever you want to call them to direct our revered representatives when they get off the beam. The Dems have the Union Thugs to keep them in line, so I’m just wondering if there is some Rep equivalent that could serve the same purpose for our guys. Couple that with a three strikes and your out rule (voting against the wishes of you constituents 3 times, you’re removed from office), and maybe we could get somewhere and make a little progress. Any one got some better ideas?

  35. mharper42 Avatar
    mharper42

    EG, did you have insomnia or do you get up at 2:30 am ?

  36. mharper42 Avatar
    mharper42

    EG, did you have insomnia or do you get up at 2:30 am ?

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